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Documents on white collar crime
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|IRS Modifies Offshore Voluntary Disclosure Program and Streamlined Filing Compliance Procedures|
Scott D. Michel, Zhanna A. Ziering; Caplin & Drysdale, Chartered;
July 9, 2014, previously published on June 23, 2014On June 18, 2014, the IRS unveiled significant changes to both Offshore Voluntary Disclosure Program (OVDP) and Streamlined Filing Compliance Procedures (SFCP). The changes both relax the penalty structure for non-willful behavior but increase it soon for account holders at certain banks. The...
|US Securities and Exchange Commission Settles Its First Whistleblower Anti-Retaliation Case|
Marcus A. Christian, Adam D. Kanter, Stephanie M. Monaco, Jerome J. Roche, Richard M. Rosenfeld; Mayer Brown LLP;
July 4, 2014, previously published on June 27, 2014The US Securities and Exchange Commission (SEC or the Commission) has announced a $2.2 million settlement in the Commission’s first whistleblower anti-retaliation case. As part of the settlement order, the SEC charged Paradigm Capital Management, Inc., a registered investment adviser, and...
|The Collateral Effects of Deferred Prosecution Agreements to Corporations in Subsequent Civil and Regulatory Actions|
Allen L. Lanstra, Kevin J. Minnick; Skadden, Arps, Slate, Meagher & Flom LLP;
July 3, 2014, previously published on June 26, 2014Over the past decade, the deferred prosecution agreement (DPA) has become a standard tool of the U.S. Department of Justice. A DPA essentially is a contract between the DOJ and the target of an investigation — often a corporation or business entity — that resolves a federal criminal...
|Is the DOJ FCPA Enforcement Hegemony Dead?|
Alexandra M. Gorman, Michael K. Loucks; Skadden, Arps, Slate, Meagher & Flom LLP;
July 3, 2014, previously published on June 26, 2014For nearly 15 years, the United States has had the worldwide corruption enforcement stage to itself, reaping billions of dollars in fines and settlement payments from companies that have acknowledged engaging in bribery in foreign countries. That monopoly, however, may soon end. In a report...
|Proposed Legislation Would Alter the FLSA’s “White Collar” Exemptions|
Josef S. Glynias; Husch Blackwell LLP;
June 26, 2014, previously published on June 19, 2014Yesterday, a group of nine Senate Democrats proposed new legislation (S. 2486) that would increase the amount of salary that must be paid to certain employees. Led by Senator Tom Harkin, D-Iowa, the group seeks to change the Fair Labor Standards Act (“FLSA”) in two significant ways, and...
|SEC's Enforcement Action Against Hedge Fund Adviser for Retaliation Against a Whistleblower Highlights Challenges Employers Face|
Bryan B. House, Pamela L. Johnston, Courtney Worcester; Foley & Lardner LLP;
June 20, 2014, previously published on June 18, 2014After repeated warnings over the last few years that it had both the authority and willingness to do so, on June 16, 2014, the SEC brought its first enforcement action for retaliation against a whistleblower under the Dodd-Frank Wall Street Reform and Consumer Protection Act...
|Credit Unions Beware - the TARP Watchdog Is Ready to Pounce|
Joanna P. Breslow Boyd, Michael J. Rivera; Venable LLP;
June 11, 2014, previously published on June 2014Credit unions participating in the Troubled Asset Relief Program (TARP) are now a major blip on the radar screen of the TARP watchdog, the Special Inspector General for TARP (SIGTARP). TARP, often referred to as the "bank bailout," is most remembered for investing over $200 billion of...
|Brazil’s Office of the Comptroller General issues Guidelines in Connection with Entertainment of Public officials during the FIFA World Cup in Brazil|
Kelly B. Kramer, Salim Jorge Saud Neto; Mayer Brown LLP;
June 11, 2014, previously published on June 3, 2014Yesterday (2 June 2014), Brazil’s Office of the Comptroller General enacted Normative Guideline N. 01/2014 prescribing the terms under which Brazilian federal public officials may accept invitations to attend the 2014 FIFA World Cup being held in Brazil. The FIFA 2014 World Cup is the...
|FCPA Update: Eleventh Circuit Defines "Instrumentalities" of Foreign Governments|
Reed C. Bienvenu, Joshua A. Goldberg, Deirdre A. McEvoy, Daniel S. Ruzumna, Harry Sandick; Patterson Belknap Webb & Tyler LLP;
June 11, 2014, previously published on May 2014On May 16, 2014, the Eleventh Circuit issued its decision in United States v. Esquenazi, an important ruling that provides guidance as to what types of foreign entities may constitute “instrumentalities” of a foreign government under the anti-bribery provisions of the Foreign Corrupt...
|US Department of Justice Announces New Policy to Record Statements|
Kelly B. Kramer, Lori E. Lightfoot, Michael Martinez, William Michael, Lee H. Rubin; Mayer Brown LLP;
June 3, 2014, previously published on May 29, 2014The US Department of Justice (“DOJ”) has announced a new policy with respect to the electronic recording of statements made by individuals in custodial situations prior to a person’s initial appearance before a judicial officer. Beginning July 11, 2014, there will be a...