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An Analysis of Proposed Federal Cybersecurity Legislation
Michael Chertoff, the former head of the U.S. Department of Homeland Security (DHS), recently remarked that “cyber threats represent one of the most seriously disruptive challenges to national security since the onset of the nuclear age 60 years ago.” Mr. Chertoff may be on to something. In its April 2012 monthly monitoring report, DHS announced that various companies in the national gas pipeline industry were apparently being targeted by cyberattacks. Between October 2011 and February 2012, DHS claimed that there were 86 reported attacks on U.S. computer systems controlling U.S. critical infrastructure.
U.S. Secretary of Defense Leon Panetta recently referred to the “so-called Distributed Denial of Service attacks” that targeted large U.S. financial institutions recently. “These attacks delayed or disrupted services on customers websites,” Panetta said. “While this kind of tactic isn't new, the scale and speed with which it happened was unprecedented.” Those attacks against the private sector represent a “significant escalation of the cyber threat.”
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.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.