The depth, breadth, and power of the FCPA is a moving target, according to this FCPA Blog post. But the message from Assistant Attorney General Lanny Breuer was "loud and clear: When it comes to enforcement, damn the torpedoes, full speed ahead." For the text of AAG Breuer's speech, click here.
Improving the FCPA: Are Such Things Possible?
The U.S. Chamber Institute for Legal Reform has proposed some amendments to the FCPA, ostensibly to improve its use and to bring some clarity to its provisions. Click here for a few more suggestions from a guest post on the FCPA Blog.
You Say "Tom-ay-to," I say "Tom-ah-to."
The government need stew no longer: Its efforts to prosecute a now-defunct food distributor for conspiring to fix prices for processed tomato products have a six-month window free from discovery in the pending civil litigation. A district judge has ordered a stay of discovery in civil cases filed on the heels of the federal indictment to allow the government to proceed without the threat of civil discovery crushing its prosecution efforts. That order comes after the judge hardly strained in denying the defendants' motion to dismiss.
A Securities Class Action for the Ages.
Taking a creative tack (no doubt increasing the view that Americans are somewhat litigious), a group of plaintiffs has filed a class-action complaint against the SEC for its alleged negligence in properly ferreting out the historic Madoff Ponzi scheme.
Financially Speaking, from One General to Another.
In what can only be described as unsurprising, the DOJ's inspector general listed among the top ten management and performance challenges of the department "[t]he need to aggressively combat financial crimes." In his memorandum to Attorney General Eric Holder, Inspector General Glenn Fine noted that the Financial Fraud Enforcement Task Force is on the right path, but more needs to be done. Inspector General Fine also noted the increasing challenges of fighting cyber crime.
Dina Kapur Sanna and Carl A. Merino co-authored an article, "Long Arm of the Law: The Risk to U.S. Practitioners of Prosecution for Facilitating Foreign Tax Offenses," (subscription required) in the June 2017 issue of Trusts & Estates Magazine.
On June 15, Dina Kapur Sanna and Carl A. Merino moderated a discussion panel at the Cambridge International Wealth Advisors Forum 2.0 held in Lisbon about the role of wealth advisors as "gatekeepers" to the financial system and measures being implemented by different jurisdictions to combat money laundering and tax evasion, including obligations imposed on lawyers and other advisors.
Day Pitney Newsletter
Dan Wenner authored an article, "Inside the 1st Muni Bond Criminal Case," published by Law360.
On May 25, the Federal Bar Council held a CLE, entitled: "Second Circuit Appellate Advocacy Workshop," which was coordinated by Dan Wenner.
Stan Twardy, Elizabeth Latif and Eric Sussman were successful in having a federal judge dismiss a False Claims Act lawsuit against our client Sikorsky Aircraft Corp.
Danielle Corcione was quoted by Law360 in the article titled "Attys Dish on Escobar's FCA Impact One Year Later," in which she commented on the U.S. Supreme Court's decision one year ago in Universal Health Services v. Escobar and its impact on False Claims Act litigation.
Day Pitney Press Release
"Don't Panic, Don't Lie"; Steven Cash is quoted in the National Law Journal discussing how individuals should respond when they find themselves involved in criminal investigations.
Day Pitney Press Release