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2013 Outlook Is Stable for U.S. Finance and Leasing Companies
Fitch Ratings forecasts stability in its recently released report 2013 Outlook: U.S. Finance and Leasing Companies. Fitch believes that reduced leverage, relatively stronger capital, liquidity and funding profiles, tightened underwriting standards, and more rationalized cost structures should help this sector and help maintain ratings stability this year.
Potential changes to this outlook include the possible recessionary impact from failure to resolve the U.S. fiscal cliff or the disorderly outcome to the euro zone debt crisis, which could impact global growth and demand, or disrupt access to wholesale funding markets. Conversely, maintenance of strong capital, liquidity and leverage positions, along with stable earnings and asset quality performance, could lead to positive rating actions in individual instances within this sector.
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.
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.
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.
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.
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.