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Regulators Renew Focus on Individual Liability for Gatekeepers
History shows that following periods of upheaval there is an increase in fraud-related investigations and enforcement. 2022 has certainly had its share of turmoil: global volatility compounded by the toll of the war in Ukraine and follow-on effects from the pandemic have given corporate compliance officers and in-house lawyers new challenges to confront.
And a rising tide of regulation is headed for them. Corporate accountability is a key priority for the Department of Justice and the Securities and Exchange Commission, and both agencies have renewed their focus on individual liability for gatekeepers, including lawyers, accountants, underwriters, and auditors. We discussed these topics at Practising Law Institute's full-day conference of the same name in September, but a cascade of developments have surged since.
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.
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.
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.
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.
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.