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Section 906 of SOX Ruled Constitutional in First Test
The US District Court for the Northern District of Alabama has issued the first ruling on the constitutionality of ' 906 of Sarbanes Oxley. The court ruled that ' 906 was not unconstitutionally vague and more specifically, that the terms “fairly presents, in all material respects,” contained in subsection 1350(b), and “willfully certifies” in ' 1350(c)(2) did not “lack sufficient clarity of meaning to inform citizens of their responsibility under the law.” The court further rejected the argument that the term “willfully certifies” in itself fails to define an illegal act. ' 906 establishes the duty of CEOs and CFOs of companies that issue publicly traded stocks to certify by written statement the accuracy of the company's periodic financial reports required under the Securities Exchange Act of 1934. United States v. Scrushy, No, CR-03-BE-0530-S (Nov. 23).
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
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.