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Trust Accounts and Bank Failures
The failure of California's IndyMac Bancorp Inc. and other smaller banks over the past year, along with the fear that more such failures are to come, has made many attorneys nervous. They are inundating their state and local bar associations with questions about what their personal and firm responsibilities are when client trust accounts are held in banks that fail. Bar associations are responding with Web postings and formal ethics opinions.
Federal Deposit Insurance Corp. (FDIC) insures bank deposits in FDIC-backed banks for up to $250,000, but what should you do with client trust monies that exceed that amount? And what if your client trust dollars are not in an FDIC-insured account? Because attorneys practicing in the medical malpractice field are often responsible for holding client funds in trust, the issue may prove significant in the current financial climate. Large firms will have financial departments to handle these issues, but small firms and solo practitioners might be able to use a little advice.
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.
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.
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.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.