The Growing Convergence of Cyber-Related Crime and Suspicious Activity Reporting
May 01, 2017
Regulators and law enforcement are taking proactive steps to further leverage anti–money-laundering monitoring and reporting tools in their battle with cyber attacks and cyber crimes. In-house legal and compliance teams need to be fully versed in the latest FinCEN and bank regulatory guidance on cyber-related crimes and have the right professionals available to assist them with these matters.
The Internal Audit Function
April 02, 2017
The International Professional Practices Framework released last year by the IIA is intended to provide guidance for internal auditors, by seeking to focus on core principles. The framework identifies 10 core principles that describe or guide what an effective internal audit function should focus upon and to what it should adhere.
The Clock Is Ticking
April 02, 2017
<b><I>Courts Check Government Attempts to Extend the Statute of Limitations</b></i><p><b><i>Part Two of a Two-Part Article</I></b><p>When the SEC and other government regulatory agencies pursue civil enforcement actions against those accused of financial fraud, they often attempt to recover monetary penalties and fines for periods of time even outside the limitations period. This effort is being met with resistance by the courts. The authors conclude their discussion herein.
In the Courts
April 02, 2017
On March 9, 2017, a three-judge panel of the U.S. Court of Appeals for the Tenth Circuit affirmed U.S. District Judge Robert Shelby's approval of a settlement that barred several IRA account owners from filing individual claims against the custodian bank. An in-depth analysis of the court's ruling.
Business Crimes Hotline
April 02, 2017
On March 3, Stanley Jonathan Fortenberry was sentenced to 78 months in prison for operating fraudulent investment companies and obstructing a Securities and Exchange Commission (SEC) investigation. Here's an analysis of the case.
SEC Takes Aim at Political Contributions by Investment Advisers
April 01, 2017
While it remains unclear both when the regulators will invoke their authority to enforce the nearly limitless strict liability provision of the rules and how they will determine the appropriate remedy, the recent settlements and the SEC's handling of exemptive relief petitions may provide some clues.
The Clock Is Ticking
March 02, 2017
In the aftermath of the financial crisis, government regulatory agencies, such as the SEC, have aggressively pursued civil enforcement actions to combat financial fraud. However, their efforts to extend their ability to seek monetary penalties and fines outside of relevant limitations periods have been recently rebuffed by the courts.
The Battle over the Scope of Rule 17(c) Subpoenas
March 02, 2017
Before considering the competing, less restrictive, interpretation of Rule 17(c), we briefly pause to explain how we got here. The restrictive interpretation of Rule 17(c) has its genesis in two Supreme Court decisions.
