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FCPA Investigation Costs ' Are You Covered?
Much has been written recently about the unprecedented growth in the number of enforcement actions brought under the Foreign Corrupt Practices Act, 15 U.S.C. ' 78dd-1 et seq. (FCPA). Settlements of enforcement actions in the tens of millions of dollars have become commonplace, and settlements in the hundreds of millions of dollars not unheard-of. The enforcement authorities (the Securities and Exchange Commission [SEC] and the Department of Justice [DOJ]) have made it clear that continued aggressive enforcement of the FCPA is and will continue to be one of their top priorities.
The enormous size of the FCPA enforcement actions settlements as well as the outsized cost of investigating and defending FCPA actions has led the insurance industry to offer new FCPA insurance products, which are intended to offset the FCPA investigation and settlement costs. These products, however, should be reviewed carefully by the companies to determine their utility in light of the companies' FCPA exposure, existing insurance, and, of course, cost.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.