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The Slippery Slope to Fraud
In this detailed and insightful report, the Center for Audit Quality details how financial-accounting fraud can sometimes creep up on a company that would never have expected to become so embroiled in it.
Big, Broad Bankruptcy Bill
The Second Circuit expanded the extent to which the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act applies to bankruptcy lawyers. In a recent opinion, that court went beyond the Supreme Court's application of the law in Milavetz to include other provisions of the act not considered by the Supreme Court.
FREEEEEDOM (of Information)!
Only a few months old and the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act has already been amended. President Obama signed a measure altering the FOIA treatment under the act. The new law makes any entity the SEC is responsible to regulate, supervise, or examine a "financial institution" as defined in the FOIA. The change clarifies that the entities, such as hedge funds, newly regulated by Dodd-Frank are susceptible to FOIA requests.
Gone to the Cleaners
The Ninth Circuit followed Justice Stevens' approach in Santos that when determining whether a money-laundering count is viable, the court should focus on whether there would be a "merger problem" between the money-laundering statute and the underlying offense. Unfortunately for the defendant in the Ninth Circuit case, the court held that there was no merger problem.
Mo' Money, Mo' Money, Mo' Money for Uncle Sam
All told, the alleged FCPA violations of ABB Ltd., a Swiss company, will cost it approximately $58 million in civil and criminal fines. Both the DOJ and the SEC took part in the prosecutions.
A Call for Transparency in the FCPA
In a recent report, the Organization for Economic Cooperation and Development has called for the DOJ and SEC to provide more data about "why a particular type of agreement is used [in an FCPA prosecution], the choice of an agreement's terms and duration, and how a company has met the agreement's terms."Day Pitney White Collar Partners Sarah Krissoff and John Vukelj authored an article for the New York Law Journal titled, "DOJ Seeks To Seize the Day With the KleptoCapture Taskforce."
On May 26, Washington, D.C. Counsel Steven Cash will be guest speaking at The University of Texas, Intelligence Studies Project "Texas Intelligence Academy."
Day Pitney Commercial Litigation and White Collar Partner Naju R. Lathia and Employment and Labor and Regulated Substances Attorney Daniel Pierre authored the article, "Proceed with Caution: NJ's Green Lighting of Recreational Cannabis May Require Detours," for the New Jersey Law Journal.
Day Pitney Press Release
New York Litigation Partner Sarah Krissoff was featured on Australia's "A Current Affair" television program discussing the $450 million superyacht, called the Amadea, that was boarded by Fijian Police as part of the U.S. Government's KleptoCapture Task Force.
Day Pitney White Collar and General Criminal Defense Partner Sarah Krissoff was featured in Reuters' Fast Take video titled, "Trump's Consequences for Ignoring N.Y. Subpoena."
Day Pitney White Collar and General Criminal Defense Partner Sarah Krissoff was quoted in the Reuters article, "New York Judge Holds Trump in Contempt for Failing to Comply with Subpoena."
On April 11, Day Pitney White Collar and General Criminal Defense partner Sarah Krissoff was a guest on Court TV, where she provided commentary on the cases of the day.
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