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CPSC Poised to Change Voluntary Recall Process
Nearly all recalls of consumer products are “voluntary recalls,” meaning that a product manufacturer agrees to conduct the recall, and negotiates how it will be conducted, with the U.S. Consumer Product Safety Commission (CPSC), typically after a potential problem or concern comes to the company's attention. The CPSC is considering changes to this established approach that have significant implications for regulated businesses.
The CPSC has proposed an “interpretive rule” that would standardize voluntary recall notices. 78 Fed. Reg. 69,793 (Nov. 21, 2013). The proposal also makes corrective action plans that implement voluntary recalls legally binding, allows the Commission to mandate adoption of compliance programs as a result of a recall, and would limit a company's ability to avoid a recall being viewed as an admission of a defect in litigation. A 75-day comment period on the proposed rule concluded on Feb. 4.
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.