On 23 October 2020, the UK Serious Fraud Office (SFO) updated its Operational Handbook, publishing a new chapter on deferred prosecution agreements (DPAs) (the Chapter). This note summarizes key points from the Chapter and...more
On June 1, 2020, the Criminal Division of the U.S. Department of Justice (DOJ) released updates to its Evaluation of Corporate Compliance Programs guidance (Guidance), last revised in April 2019. ...more
While enforcement agencies have yet to indicate that they intend to put their pens down in response to COVID-19, there is anecdotal evidence that some agencies have slowed their investigations as remote working impacts matter...more
3/31/2020
/ Anti-Corruption ,
Anti-Money Laundering ,
CFTC ,
Compliance ,
Coronavirus/COVID-19 ,
Debt Market ,
Disruptive Trading Practices ,
Economic Sanctions ,
Enforcement Actions ,
Equity Markets ,
Financial Conduct Authority (FCA) ,
France ,
Market Abuse ,
Risk Management ,
Social Distancing ,
Tax Evasion ,
UK Bribery Act ,
White Collar Crimes
On December 6, 2019, Telefonaktiebolaget LM Ericsson (Ericsson or the Company), resolved long-running investigations by the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC) into the...more
1/3/2020
/ Anti-Bribery ,
Books & Records ,
Bribery ,
Calculation of Penalties ,
Compliance ,
Cooperation Agreement ,
Corporate Investigations ,
Corporate Misconduct ,
Corporate Monitoring ,
Corruption ,
Criminal Conspiracy ,
Criminal Investigations ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Actions ,
Ericsson ,
Failure to Comply ,
Fines ,
Foreign Corrupt Practices Act (FCPA) ,
Guilty Pleas ,
Illegal Profits ,
Internal Controls ,
Penalties ,
Penalty Reductions ,
Pre-Judgment Interest ,
Public Contracts ,
Regulatory Violations ,
Remediation ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Subsidiaries ,
Telecommunications ,
Third-Party Relationships ,
White Collar Crimes
On March 8, 2019, the U.S. Department of Justice announced an important change to its Foreign Corrupt Practices Act (FCPA) Corporate Enforcement Policy concerning one of the conditions — “appropriate retention of business...more
3/22/2019
/ Amended Rules ,
Business Records ,
Commercial Electronic Messages ,
Communication Restrictions ,
Compliance ,
Cooperation ,
Corporate Counsel ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Discovery ,
Document Retention Policies ,
Electronically Stored Information ,
Employee Training ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Government Investigations ,
Mobile Apps ,
Multinationals ,
Record Retention ,
Remediation ,
Snapchat ,
Software ,
WhatsApp ,
White Collar Crimes
Despite a year of continued global political uncertainty and increasing enforcement, shareholder activism and foreign investment control activity, the 2018 outlook for Europe is positive overall. Skadden partners in the U.K.,...more
1/26/2018
/ Acquisitions ,
Anti-Corruption ,
Antitrust Injuries ,
BaFin ,
Capital Markets ,
Cartels ,
Competition ,
Criminal Prosecution ,
Cybersecurity ,
Deferred Prosecution Agreements ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
European Commission ,
Executive Compensation ,
Foreign Investment ,
France ,
Fraud ,
Germany ,
Merger Controls ,
Mergers ,
Minority Shareholders ,
Money Laundering ,
National Security ,
Private Equity ,
Russia ,
Sapin II ,
Securities ,
Serious Fraud Office (SFO) ,
Shareholder Activism ,
Shareholder Votes ,
Takeover Code ,
Trump Administration ,
UK ,
UK Bribery Act ,
UK Criminal Finances Act 2017 ,
Virtual Currency ,
White Collar Crimes
On October 4, 2017, Skadden presented the seminar “Government Enforcement Investigations – What You Need to Know in 2018.” Skadden partners Ryan Junck and Elizabeth Robertson, both based in London, moderated the panel...more
10/24/2017
/ Anti-Corruption ,
Anti-Money Laundering ,
Corporate Counsel ,
Criminal Penalties ,
Criminal Prosecution ,
Cybersecurity ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
General Data Protection Regulation (GDPR) ,
Government Investigations ,
Sanction Violations ,
Sapin II ,
Serious Fraud Office (SFO) ,
Tax Evasion ,
UK Criminal Finances Act 2017 ,
Whistleblowers ,
White Collar Crimes
On July 12, 2017, the U.S. Court of Appeals for the Second Circuit ruled in United States v. HSBC Bank USA, N.A. that a federal district court does not have the authority to supervise the implementation of a deferred...more
9/20/2017
/ Appeals ,
Corporate Crimes ,
Corporate Misconduct ,
Corporate Monitoring ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
EU ,
Executive Branch ,
Faithful Execution Clause ,
Financial Crimes ,
France ,
Judicial Authority ,
Judicial Discretion ,
Judicial Review ,
Plea Agreements ,
Public Access Laws ,
Sealed Records ,
Speedy Trial Act ,
UK ,
White Collar Crimes
In a decision that has implications for non-U.S. financial institutions with correspondent accounts in New York, a closely divided New York Court of Appeals held on November 22, 2016, that the “[r]epeated, deliberate use [of...more
On September 9, 2015, the Department of Justice (the Department) publicly announced that it had issued guidance to its criminal and civil prosecutors that purports to change, at least in part, the Department’s approach to...more
9/16/2015
/ Civil Investigation Demand ,
Civil Monetary Penalty ,
Cooperation Agreement ,
Corporate Crimes ,
Corporate Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
FIRREA ,
Government Investigations ,
Personal Liability ,
White Collar Crimes ,
Willful Misconduct ,
Yates Memorandum