While some enforcement areas have taken a pause this year, False Claims Act enforcement—especially around customs duties—is moving and likely to get busier.
Just last week the U.S. Department of Justice filed a complaint...more
4/25/2025
/ China ,
Customs and Border Protection ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Imports ,
International Trade ,
Penalties ,
Supply Chain ,
Valuation ,
Whistleblowers
On April 7, 2024, the United States District Court for the District of Connecticut approved the Securities and Exchange Commission’s request to dismiss its action against a hedge fund manager for the manager’s alleged failure...more
Following the Treasury Department’s announcement regarding the removal of fines and penalties under the Corporate Transparency Act (“CTA”), the Financial Crimes Enforcement Network (“FinCEN”) has now advised that U.S....more
3/26/2025
/ Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Disclosure Requirements ,
Enforcement ,
FinCEN ,
Foreign Corporations ,
Foreign Entities ,
Interim Final Rules (IFR) ,
New Rules ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements
While the March 21, 2025 filing deadline under the Corporate Transparency Act (the “CTA”) remains in place, the Treasury Department announced on March 2nd that it will not enforce any penalties or fines associated with...more
Once again, entities are required to file beneficial ownership information reports (each, a “BOI report”) with the Treasury Department’s Financial Crimes Enforcement Network. On February 18, 2025, the Eastern District of...more
Last week President Trump signed an Executive Order pausing enforcement of the nation’s most robust anti-bribery statute, the Foreign Corrupt Practices Act (“FCPA”). The EO seeks a complete overhaul of the FCPA enforcement...more
2/14/2025
/ Anti-Bribery ,
Attorney General ,
Cartels ,
Compliance ,
Corporate Governance ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
National Security ,
Securities and Exchange Commission (SEC) ,
Significant Transnational Criminal Organization ,
UK
Enforcement of the Corporate Transparency Act (the “CTA”) remains on hold, despite the decision by the U.S. Supreme Court on January 23, 2025 to stay a nationwide injunction against the CTA (McHenry v. Texas Top Cop Shop...more
1/27/2025
/ Anti-Money Laundering ,
Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
Enforcement Actions ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
SCOTUS ,
Stays ,
U.S. Treasury
On December 26, 2024, in a very short opinion, the U.S. Court of Appeals for the Fifth Circuit, which on December 23 had lifted a national stay imposed by the U.S. District Court for the Eastern District of Texas in the case...more
Yesterday, the U.S. Court of Appeals for the Fifth Circuit lifted the national stay temporarily prohibiting the federal government from enforcing the Corporate Transparency Act (the “CTA”). Earlier this month, in the case of...more
12/27/2024
/ Appeals ,
Beneficial Owner ,
Business Entities ,
Corporate Transparency Act ,
Filing Deadlines ,
Filing Requirements ,
FinCEN ,
Preliminary Injunctions ,
Reporting Requirements ,
Stays ,
Time Extensions
On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a preliminary injunction prohibiting the federal government from enforcing the Corporate Transparency Act (the “CTA”) nationwide (Texas Top...more
12/6/2024
/ Corporate Transparency Act ,
Department of Justice (DOJ) ,
Enforcement ,
Financial Crimes ,
FinCEN ,
First Amendment ,
Fourth Amendment ,
Preliminary Injunctions ,
Reporting Requirements ,
Texas ,
Unconstitutional Condition
As a reminder to our clients and friends of the firm, the beneficial ownership reporting deadline is soon approaching. Applicable entities that were formed or registered to do business in the U.S. prior to this year, have...more
On March 7, 2024, Deputy Attorney General Lisa Monaco delivered the keynote remarks at the American Bar Association’s 39th National Institute on White Collar Crime. In her address, she announced a new, nationwide...more
3/14/2024
/ American Bar Association (ABA) ,
CFTC ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
IRS ,
Money Laundering ,
Securities and Exchange Commission (SEC) ,
Whistleblower Awards ,
Whistleblowers ,
White Collar Crimes
The Corporate Transparency Act (the “CTA”), a set of new regulations being implemented by the Financial Crimes Enforcement Network (“FinCEN”), requires entities newly formed or registered to do business in the United States...more
12/4/2023
/ Beneficial Owner ,
Beneficiaries ,
Corporate Transparency Act ,
Criminal Penalties ,
Deadlines ,
Exemptions ,
FinCEN ,
Grantor Trusts ,
Investment Adviser ,
Investment Companies ,
Investment Funds ,
Limited Liability Company (LLC) ,
Limited Partnerships ,
NDAA ,
Reporting Requirements ,
Trusts
On August 23, 2023, by a vote of 3-2, the Securities and Exchange Commission (the “SEC”) adopted new final rules and amendments to existing rules under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) with...more
8/28/2023
/ Audits ,
Clawbacks ,
Compensation ,
Compliance ,
Custody ,
Final Rules ,
GAAP ,
Indemnification ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Private Funds ,
Securities and Exchange Commission (SEC) ,
Waivers ,
Written Consent
Summary of the Recent SEC Actions -
On August 8, 2023, in yet another set of enforcement actions in the space, the U.S. Securities and Exchange Commission (the “SEC”) settled charges against ten broker-dealers and a dually...more
To paraphrase what Ben Franklin may have been alluding to nearly 300 years ago in his famous quote, often the best approach when it comes to reducing the risk of litigation and government enforcement proceedings is to take...more
7/27/2023
/ Anti-Corruption ,
Anti-Discrimination Policies ,
Anti-Harassment Policies ,
Anti-Money Laundering ,
California Consumer Privacy Act (CCPA) ,
Compliance ,
Data Privacy ,
Data Security ,
Document Review ,
Due Diligence ,
Employment Contract ,
Enforcement ,
Ethics ,
Force Majeure Clause ,
Fraud ,
General Data Protection Regulation (GDPR) ,
Health and Safety ,
Insurance Industry ,
Intellectual Property Protection ,
Investigations ,
Non-Public Information ,
Performance Reviews ,
Personal Information ,
Pricing ,
Reporting Requirements ,
Risk Mitigation ,
Sales ,
Social Media ,
Technology Sector
Expiration of SEC Staff’s No Action Letters Providing Relief to Broker-Dealers Regarding MiFID II Research Requirements -
On July 3, 2023, the U.S. Securities and Exchange Commission (the “SEC”) let expire a long-standing...more
DOJ Promotes Compliance Through Compensation and Clawback Programs (3.2.2023):
• The DOJ announced corporate criminal resolutions will now include a requirement that companies implement a compensation and bonus scheme...more
3/10/2023
/ 10b5-1 Plans ,
Bank Fraud ,
CFTC ,
Clawbacks ,
Compensation ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Insider Trading ,
Securities and Exchange Commission (SEC) ,
Self-Disclosure Requirements
During this 30-minute webinar, Seward & Kissel partners from the Firm’s Government Enforcement and Internal Investigations Group will discuss the SEC’s recent enforcement actions regarding recordkeeping failures related to...more
On December 29, 2022, President Biden signed H.R.2617, the Consolidated Appropriations Act of 2023 (the “Omnibus Bill”), that included a rider in Title V establishing a statutory exemption for certain mergers and acquisitions...more
1/18/2023
/ Acquisitions ,
Biden Administration ,
Broker-Dealer ,
Business Assets ,
Consolidated Appropriations Act (CAA) ,
EBITDA ,
Mergers ,
No-Action Letters ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Exchange Act of 1934 ,
Title V
Yesterday, SEC Chair Gary Gensler announced proposed amendments to Rule 605 of Regulation NMS to modernize and expand disclosure requirements related to order execution quality. Chair Gensler stated that he was “pleased to...more