Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Business Crimes BulletinKickerFeaturesTopicsCommercial LawRegulationSectionsNewsLJN Newsletters

Being Ready for Government Investigations in a Time of Financial Crisis

By David Krakoff and Peter White

The global credit crisis has already spawned numerous investigations seeking to determine whether wrongdoing at financial institutions caused any part of the financial meltdown. The press has reported ongoing investigations by the Department of Justice (DOJ) and the SEC of many of the most recognizable names in the financial world, including Bear Stearns, Lehman Brothers, Credit Suisse, UBS, AIG, Fannie Mae and Freddie Mac. With the public furious over corporate excesses, the Obama Administration is likely to devote significant enforcement resources to ensuring that none of the federal bailout money is used improperly. Task forces will be formed. More civil cases will be filed. The pressure on financial institutions from government regulators is certain to be intense.

In this heightened enforcement environment, it is more important than ever that corporate general counsel be ready and able to navigate a minefield of complex issues as soon as they become aware that their company is the focus of a government investigation. Upon learning of a subpoena for corporate records, counsel must quickly assemble the correct team, analyze the subpoena, and determine who may have responsive documents. Given the stress of this process, companies should strive to have proper controls in place well before becoming the target of an investigation. Regardless, counsel must be extremely organized from the beginning and must work effectively with both the business units and the IT department to establish an infrastructure which assures that everyone is working from the same playbook. At best, early mistakes will cause later headaches; at worst, they can be devastating.

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
Bankruptcy Sales: Finding a Diamond In the Rough Image

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.

Coverage Issues Stemming from Dry Cleaner Contamination Suits Image

In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.

Removing Restrictive Covenants In New York Image

In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?

Blockchain Domains: New Developments for Brand Owners Image

Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.

Major Differences In UK, U.S. Copyright Laws Image

This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.