Department of Justice Updates Guidance on Evaluation of Corporate Compliance Programs

On June 1, the DOJ updated its guidance for evaluating a company’s compliance program when resolving corporate investigations. The updated guidance makes clear that prosecutors should consider a company’s particular circumstances when evaluating its compliance program. The updated guidance also emphasizes that a company must be proactive and continually assess […]

SEC Enforcement Investigating Potential Federal Securities Law Violations by PPP Borrowers

It’s not just the Justice Department that’s looking into PPP loans – although there appears to be plenty of that going on – the SEC’s Division of Enforcement is also conducting an investigation into certain PPP loan recipients to determine whether there have been violations of the federal securities laws. […]

House Select Subcommittee Announces First Public Investigations Involving CARES Act

As anticipated, the hundreds of billions of dollars allocated under the CARES Act Paycheck Protection Program have become the focus of scrutiny from investigators. On May 8, the House Select Subcommittee on the Coronavirus Crisis launched its first public broadsides at five companies that received PPP loans.

What You Need to Know About Potential Exposure if You’ve Gotten a CARES Act Loan

We have previously looked at the many ways CARES Act funding can provide critical sources of money for both small and large businesses. We also have described the oversight bodies created by the CARES Act to police the use of disbursed funds. For many businesses, small or large, this may be the first […]

The US-UK Data Access Agreement: A new dawn for transatlantic criminal investigations?

In June 2019 we wrote about the Crime (Overseas Production Orders) Act 2019 (COPOA), an unheralded piece of legislation that created a framework for the government to enter reciprocal agreements with other nations to streamline the process of obtaining stored electronic data from companies based overseas. In October 2019, the […]

Multiple Layers of Oversight in the CARES Act: The Appetite for Accountability Will Long Outlast the Current Crisis

The estimated $2+ trillion stimulus bill – the Coronavirus Aid, Relief and Economic Security Act (CARES Act) – is meant to address the economic crisis caused by the coronavirus pandemic. The act will pump hundreds of billions of dollars into private sector businesses. But the money will come with new […]

Remaining Vigilant to Compliance and Enforcement Concerns in Times of Crisis

In times of increased financial stress—and particularly during times of financial shock where expectations and reality diverge significantly and rapidly—internal and external pressures can lead to risk-taking with lasting consequences. For example, pressure often mounts to boost revenue to save a failing quarter, to take advantage of government bailout opportunities, […]

UK law enforcement powers stretch even further overseas – with worrying implications

A recent piece of unheralded legislation, the Crime (Overseas Production Orders) Act 2019 (COPOA), has provided UK law enforcement with significantly extended powers to compel the production of electronic data stored overseas. Key points COPOA came into force on 12 February 2019 – it gives UK law enforcement agencies the […]

Skansen Interiors Limited: The UK’s first contested prosecution under S7 of the Bribery Act

The recent conviction of UK company Skansen Interiors Limited (SIL), for the corporate offence of failure to prevent bribery has caused controversy. This is the first conviction under S7 of the Bribery Act after a contested trial where the company self-reported but was still brought to trial. Commentators are asking […]

Unexplained Wealth Orders coming into force

The regime for Unexplained Wealth Orders will come into force on 31 January. This is a novel power in the UK. Law enforcement agencies such as the National Crime Agency and Serious Fraud Office will be able to apply to Court, without notice to the recipients, for an Order requiring […]