On May 19, 2020, in response to the COVID-19 pandemic, President Trump signed Executive Order 13924, to provide regulatory relief for entities economically impacted by the pandemic. Section 6 of the Executive Order directed agencies to revise their procedures and practices in administrative investigations and enforcement in light of certain enumerated principles of fairness. It … Continue Reading
In his semi-annual report to Congress, Michael K. Atkinson, the intelligence community’s inspector general, expressed “hope that recent events will not have a chilling effect on the willingness of individuals within the Intelligence Community to continue to shed light on suspected fraud, waste, abuse, or malfeasance in an authorized manner.” In an article published in Corporate … Continue Reading
A new strike force of federal and state investigators is targeting antitrust violations in government procurement. The strike force consists of investigators from a variety of agencies who will receive special training in detecting and prosecuting antitrust agreements. The strike force seeks to increase both criminal and civil enforcement actions.… Continue Reading
Five months after Sigal Mandelker, Under Secretary of the US Treasury for Terrorism and Financial Intelligence, presented five of the hallmarks of an effective sanctions compliance program, the Office of Foreign Assets Control (OFAC) has finally published long-awaited guidance for national and international organizations subject to its regulation (the Framework). OFAC is the organization responsible for administering and enforcing US economic … Continue Reading
The U.S. Department of Justice (DOJ) announced an update to its earlier guidance on how the DOJ will evaluate the effectiveness of a company’s corporate compliance program. The updated compliance guideline (“Updated Guidance”) is twice the length of the original, and utilizes a more instructive approach, serving as a roadmap to prosecutors, and prudent companies. Although … Continue Reading
The Second Circuit’s recent decision in United States v. Hoskins may impact enforcement of U.S. economic sanctions programs. The Hoskins decision precludes the government from charging a foreign national acting abroad with violating the Foreign Corrupt Practices Act (“FCPA”) through theories of conspiracy and accomplice liability. This holding is equally applicable to U.S. sanctions law.… Continue Reading
Tariffs are not the only weapon of retaliation countries may wield in a trade war. Governments can pressure trade adversaries at the bargaining table by opening other fronts, such as limiting foreign investment, halting drug enforcement cooperation, or, of particular concern to the corporate world, scrutinizing companies doing business within their jurisdictions. What does this mean?… Continue Reading
As the two-year deadline approaches, help is proposed to meet upcoming anti-money laundering compliance requirements. A recent draft bill aims to assist banks and other regulated entities in complying with one of the most significant anti-money laundering requirements of the Final Rules on Customer Due Diligence Requirements (the “Rules”). The proposal will assist banks, brokers or … Continue Reading
2017 saw big changes regarding the way the Commodities Futures Trading Commission (“CFTC”) considers and rewards cooperation. In January, 2017, the CFTC issued two Enforcement Advisories (one for companies and one for individuals) outlining the new factors the Enforcement Division of the Commission will consider in evaluating cooperation by those under investigation. In late September, … Continue Reading
The Public Contacts Directive (2014/24/EC – the “2014 Directive”)[1] sets out the legal framework for public procurement when contracting authorities seek to acquire supplies, services, or works (e.g. civil engineering or building). The intention is that procurement rules become simpler and more flexible. Despite the 2014 Directive not requiring transposition into Member States’[2] law until … Continue Reading
