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FAA Updates Its Procedures for Registration of Aircraft
Aircraft title registration in the United States historically has been a voluntary-based compliance system. But relying on aircraft owners to police themselves in maintaining the accuracy of their registration records has also spawned a system with serious flaws. The Federal Aviation Administration (the “FAA”) in Oklahoma City, OK, which maintains the U.S. aircraft registry (the “FAA Registry”), estimated that approximately one-third of the 357,000 registered aircraft records on the FAA Registry are inaccurate and that many aircraft associated with those records are likely ineligible for U.S. registration. See 75 Fed. Reg. at 41969 (July 20, 2010). Here, we discuss a new FAA rule designed to improve the accuracy of aircraft registration records, and its effect on aircraft financiers.
Aircraft Lien Registration
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.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.