Transaction Monitoring Under the FCPA
The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more
Two major U.S. financial institutions, Morgan Stanley and Capital One, recently agreed to resolve separate class action lawsuits by paying, in the aggregate, hundreds of millions of dollars in compensation for massive data...more
Morgan Stanley shook the financial world yesterday with the announcement that it’s planning to drop $13 billion on a deal to purchase online discount brokerage E-Trade—the “biggest takeover by a major American lender since...more
Goldman Sachs is reportedly in negotiations with federal prosecutors to resolve claims about its role in the Malaysian 1MDB scandal for upwards of $2 billion. A settlement—which “could include a guilty plea from Goldman’s...more
More fun for Facebook, just a day after it revealed a coming FTC fine, with the news on Thursday that Canadian privacy commissioners “violated national and local laws in allowing third parties access to private user...more
The world’s keeping a wary eye on Turkey’s economic well-being, especially given the precipitous drop in the value of the country’s currency (which has pushed up prices for consumers and corporations) and President Erdogan’s...more
According to a memo circulating amongst Republican-party leaders as of February 13th, Republicans in the House of Representatives are planning to propose a significant curtailment of the U.S. Securities and Exchange...more
The Security and Exchange Commission’s (“SEC”) recent $1 million settlement with Morgan Stanley Smith Barney LLC (“MSSB”) marked a turning point in the agency’s focus on cybersecurity issues, an area that the agency has...more
The SEC has taken a new enforcement action, demonstrating its expectations of industry and the willingness to use the variety of tools at its disposal to address concerns with cybersecurity previously signaled by an...more
In Case You Missed It: The SEC fined Morgan Stanley $1 million for a 2014 data breach. While the FTC had declined to pursue an enforcement action, blaming the breach on technical issues rather than any actions or omissions...more
Yesterday the Securities and Exchange Commission (SEC) announced a resolution with Bank of New York Mellon Corporation (BNY Mellon) for violations of the Foreign Corrupt Practices Act (FCPA). This was the first enforcement...more
Regulatory Developments - Client Alert: SEC Proposes Pay for Performance Rules: Goodwin Procter’s Capital Markets practice has issued a Client Alert on the SEC’s proposed rule that would require most public...more
SEC Proposals to Enhance Investment Company and Investment Adviser Reporting: As we went to press, the SEC commissioners announced that they had voted to approve two proposals. The first was for new and amended rules and...more
On February 25, 2015, Morgan Stanley announced that it reached an agreement in principle with the U.S. Department of Justice, Civil Division, and the U.S. Attorney’s Office for the Northern District of Califoirnia, Civil...more
Meatloaf’s standard Paradise by the Dashboard Light, is the lead in for today’s blog post (the ‘automotive’ focus of the song and not the ‘paradise’ focus for the less prurient among you.) I still think that one of the most...more
After the Department of Justice announced its declination of the Morgan Stanley case, the FCPA Paparazzi littered the Internet with recommendations of steps to take modeled on Morgan Stanley’s compliance program. Companies...more
The goal of any company regarding its compliance regime should be to make compliance a part of the fabric of your company and the face that you present to the world. That was the message from the interview conducted by Adam...more
Transaction monitoring was mentioned in a couple of significant enforcement actions of 2012. I think that it will move to becoming a best practice in FCPA compliance programs. This video will explain how transaction...more
As we welcome in 2013, it is appropriate to reflect back on some of the things which have occurred over 2012 and in the Foreign Corrupt Practices Act (FCPA) enforcement world, it was quite a significant year. The Department...more