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Recent Challenges To the FTC's Data Regulation Authority
The year 2014 has been described as the “Year of the Breach.” (See the January 2015 Ponemon Institute study titled “2014: A Year of Mega Breaches.” It started out with fallout from the Target breach, which occurred at the end of 2013 and carried over into 2014, affecting 40 million debit and credit cards. This “Point of Sale” attack spread to other retailers such as P.F. Chang's, Neiman-Marcus, Michael's, and Home Depot as the result of malware called “Black POS” allegedly distributed by a couple of teenagers in Russia. See, “Home Depot Hit By Same Malware as Target,” Krebs On Security.
Hacking attacks perpetrated on several financial institutions followed during the summer and fall of last year, along with the largest health care breach of the year occurring in August. See, “Hackers' Attack Cracked 10 Financial Firms in Major Assault,” NY Times Dealbook; “The Big Data Breaches of 2014,” Forbes.
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.