• The DOJ's New Parameters for Evaluating Corporate Compliance Programs

    July 02, 2017 |

    The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.

  • Third-Party Money Launderers

    March 01, 2017 |

    Each year, the U.S. government secures more than 1,200 money-laundering convictions. Now, the Federal Bureau of Investigation (FBI), at least, is setting its sights with renewed vigor on those who help criminal organizations and terrorists conceal billions in illicit funds.

  • Keeping Government Environmental Investigations Civil

    July 02, 2015 |

    The threat of criminal environmental prosecutions is real. Most federal and state environmental statutes provide for criminal prosecution in appropriate circumstances, often for knowing violations of environmental law, but sometimes even on a negligence or strict liability basis. Here's what you need to know.

  • Bank Secrecy Act

    October 02, 2014 |

    When companies, especially financial institutions, and not individuals are charged with serious offenses, criticism is now common. Yet such criticism may be particularly unwarranted in the high-profile BSA prosecutions of recent years, where criminal liability rests on an institutional failure to maintain appropriate systems and controls.

  • Should the United States Be Doing This?

    October 28, 2013 |

    A decision earlier this year on a motion to dismiss the complaint filed by the defendants in the case entitled Security and Exchange Commission v. Elek Straub et al. sustains the global reach of the FCPA.

  • Federal Criminal Antitrust Enforcement

    August 27, 2013 |

    The Obama Antitrust Division initiated several important policy changes during the last three years, of which the author discuss three.

  • The Tax Man Cometh

    September 28, 2012 |

    The tax consequence of FCPA violations is an issue U.S. law enforcement personnel are highlighting, as indicated by case filings and appearances by representatives of the IRS at FCPA conferences.

  • Erratum

    April 27, 2011 |

    A correction.

  • Prosecution and Defense of Stock Option Backdating Cases

    September 27, 2007 |

    Backdating is different from conduct typically alleged as stock fraud because it is not in itself illegal. So long as the backdating of options is accompanied by proper accounting treatment and public disclosure, there is no securities law violation. Backdating cases thus have come to be thought of largely as accounting cases. As a result, a potent potential defense has emerged for corporate officers who may have known backdating was occurring but, because they did not have hands-on responsibility for their company's financial or accounting practices, were unaware of the accounting or disclosure consequences of that practice.