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Carnival Execs May Face Criminal Charges Over Compliance Failures
Sue Reisinger
Once again a company has felt the pain that comes when it is caught violating an agreement with the Department of Justice. After taking a tongue lashing from a federal judge for repeatedly violating the law, Carnival Corp. executives have until autumn to hire a chief compliance officer and begin meaningful compliance reforms at the world's largest cruise line.
Features
The Yates Memo is Here to Stay: Signs of Increasing Efforts to Hold Individuals Criminally Liable for Corporate Wrongdoing
Carolyn H. Kendall
&
Yune D. Emeritz
It is axiomatic that companies cannot do wrong without the actions of individuals. However, the trend over the past few decades, with a few exceptions, has been that individuals generally were not prosecuted for their roles in corporate wrongdoing that harmed the public welfare. However, there appears to be a recent escalation in prosecutions of corporate executives.
Features
How to Respond to a Search Warrant
Marjorie Peerce
&
Mark S. Kokanovich
Imagine you are in-house counsel, working on a transactional document, when you receive a breathless call from a manager at one of your warehouses that a search warrant is being executed on the premises. What do you do?
Features
DOJ Corporate Enforcement Guidelines Are Placing Individual Defendants Between a Rock and a Whirlpool
David S. Krakoff, Bradley A. Marcus
&
Nadav Ariel
For companies suspected of wrongdoing, cooperating with DOJ investigations and self-disclosing their misconduct often appears to be their only option to avoid prosecution and reduce large financial penalties. But, these benefits often come at a price, especially to company employees who are caught in the middle.
Features
Carrot Replaces Stick: Corporate Crime Enforcement In the Trump Administration
Joseph F. Savage, Jr.
&
Marielle Sanchez
Elections have consequences, and the election of President Trump has resulted in a significant shift in law enforcement priorities. Corporate enforcement activity is at lows not seen in decades, despite an overall increase in federal criminal cases. This is a product of a change in priorities, both in terms of types of offenses and types of offender. So, for the time being, there will be almost unprecedented opportunity to achieve favorable resolutions for corporate clients.
Features
Judicial Skepticism Mounts Over the Use and Reach of Appellate Waivers
Harry Sandick
&
Danielle Quinn
A defendant who pleads guilty is usually required to waive a host of constitutional and statutory rights, such as the right to a jury trial, the right to confront and cross-examine adverse witnesses, the right to testify and present evidence. However, many defendants are also required to waive their right to appeal in order to receive a favorable plea agreement with the government.
Features
Should Trump's Foreign Policy Affect Criminal Prosecutions?
Robert J. Anello
&
Kostya Lantsman
Business has gone global. So too has business-related crime. In the interconnected business environment, white-collar criminal investigations and prosecutions frequently present cross-border issues and affect U.S. foreign relations. Indeed, in some recent high-profile cases, the Trump administration has implied that it sees law enforcement — or the lack of it — as one of the tools in its foreign policy arsenal.
Columns & Departments
In the Courts
Surya Kundu
Seventh Circuit Distinguishes Between Truth and Truthiness
Columns & Departments
Business Crimes Hotline
Surya Kundu
To Release or Not Release Grand Jury Documents? The D.C. Circuit Says No.
Features
"Spoofing" as Fraud: A Novel and Untested Theory of Prosecution
Jodi Misher Peikin
&
Justin Roller
The DOJ has signaled its intent to pursue prosecutions for spoofing — which the law defines as "bidding or offering with the intent to cancel the bid or offer before execution" — aggressively. This article begins with a brief discussion of the elements that the government must prove to establish commodities fraud and wire fraud. It then examines recent spoofing prosecutions that raise important questions about the applicability of the traditional fraud statutes to spoofing-related activity. How the federal courts answer these open questions will have significant implications for participants in the commodities markets.
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