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Inflation Reduction Act
Federal Stimulus Money is Coming Soon – Increased Federal Enforcement Won't Be Far Behind
Many companies will naturally want a piece of the $2 trillion federal stimulus package aimed at combating the economic consequences of the coronavirus pandemic currently making its way through Congress. However, be careful what you wish for. History teaches that...
Is Your Manufacturing Operation an "Essential Business" in the Age of the Coronavirus?
As a business with manufacturing operations that cannot be operated remotely by employees at home, it is challenging to comply with health and safety obligations in the age of the Coronavirus (COVID-19), while also preserving the financial integrity of the...
Compliance Preparedness During the COVID-19 Outbreak—Lessons From A Prior Crisis
In times of economic uncertainty companies face numerous enterprise-wide risks. The COVID-19 pandemic exponentially magnifies these risks, but critical lessons learned from the 2008 financial crisis can help blunt the impact. While concerns over business continuity, cash flow and fulfilling...
New York's Deadline to Comply With New Data Privacy Law Fast Approaching
The Stop Hacks and Improve Electronic Data Security Act (known as the SHIELD Act), signed into law by Governor Cuomo last year, comes into full effect on March 21, 2020. The Act’s expansive reach requires businesses in New York, as...
DOJ Announces More Equifax Charges – Credits Chinese Hackers
On February 10, 2020, Attorney General William Barr announced the indictment of four members of the Chinese military on charges of hacking into Equifax’s computer networks, maintaining unauthorized access to those networks and stealing sensitive information. The announcement highlights one...
SEC Examiners Release Cyber Observations: What You Need To Know
On January 27, 2020, the SEC’s Office of Compliance Inspections and Examinations (OCIE) announced its most recent Cybersecurity and Resiliency Observations. This report highlights specific practices that have been, and can be taken to enhance cybersecurity preparedness and incident response...
DOJ Changes Criminal Policy to Recognize Antitrust Compliance Programs
In a major policy shift, the Antitrust Division of the Department of Justice recently announced that it will now credit companies for effective corporate antitrust compliance programs in making charging decisions and penalty recommendations. In conjunction with this change, the...
Natural Gas Marketer Settles Royalty Fraud with Department of Justice
A recent settlement serves as a reminder that companies in the energy sector that do not directly do business with government agencies can still be subject to federal procurement enforcement laws with severe consequences. On May 1, 2019, the Department...
Lorenzo v. Securities and Exchange Commission: "Maker" or "Messenger"? It Doesn't Matter
On March 27, 2019, the Supreme Court of the United States issued its decision in Lorenzo v. Securities and Exchange Commission , 587 U.S. ___ (2019) curtailing any meaningful distinction between liability of a statement maker and a statement’s messenger...
Closing the Side Door – The Imperative of the College Admission Scandal
On March 12, 2019, the Justice Department unveiled its indictment and charges of 50 individuals involved in one of the most sweeping admissions scandals to hit higher education. Eight universities have been implicated in the initial charges, with the Government...
DOJ Reveals Foreign Agent Cases Are Fara from Over
On March 6, Assistant Attorney General for National Security John C. Demers announced that the Department of Justice (“DOJ”) has designated a new deputy chief to lead the Foreign Agents Registration Act (“FARA”) unit and that DOJ will start treating...
“Bring Out Your Dead!” - In CFTC v. Wilson, Court Reminds CFTC that Market Manipulation Requires an Artificial Price
On November 30, 2018, a federal court rejected the Commodity Futures Trading Commission’s (“CFTC”) allegations of market manipulation in CFTC v. Wilson (“ DRW ”) and found in favor of the defendants, Donald R. Wilson (“Wilson”) and his company, DRW...
Sophisticated International Hackers Continue to Target the Public Sector
On November 26, 2018, the U.S. Department of Justice announced that it had secured an indictment of two hackers for using ransomware to extort over $6 million from municipalities, hospitals, and other public institutions. The very next day, a federal...
SEC Revokes Firm Registration and Bars Municipal Advisor Following Court Sanctions
On June 29, 2018 Judge Halil Suleyman Ozerden of the Southern District of Mississippi entered judgments against Malachi Financial Products, Inc., and its president and sole shareholder, Porter B. Bingham, for alleged violations of the Securities Exchange Act of 1934...
New York Cyber Enforcement Steps Into the Breach
Last month, the New York State Department of Financial Services (NYDFS) proclaimed, “In an era of weakened federal government oversight, strong state regulation is essential in order to safeguard our markets, ensure strong consumer protections and hold regulated entities accountable...