DOJ Launches New Incentive Program for Corporate Whistleblowers
The US Department of Justice has officially launched its whistleblower rewards pilot program, which offers financial incentives to individuals who report corporate misconduct to the DOJ and meet certain criteria. Deputy Assistant Attorney General Nicole Argentieri has made clear that the DOJ is attempting to break down barriers between whistleblowers […]
Corporate Criminal Liability in the UK – What’s Next?
On 10 June 2022, the UK Law Commission published the results of its review into the laws that govern corporate criminal liability in the UK and its proposals to reform them. There has been a long-held concern amongst enforcement authorities, and legal commentators, that current UK law makes it exceptionally difficult […]
Bloomberg LP v. ZXC: Privacy Triumphs
The UK Supreme Court has handed down its highly anticipated judgment in the matter of Bloomberg LP v. ZXC [2022] UKSC 5. As we explained in our 16 February 2022 Cooley blog, the case highlighted the tension between the privacy interests of individuals under investigation who have not been charged with a crime and […]
Is DOJ Looking to Bring Criminal Charges Under Sherman Act’s Section 2? ‘Yes, Absolutely’
On March 2, 2022, Richard Powers, the deputy assistant attorney general of the Antitrust Division of the US Department of Justice, said that the division is prepared – for the first time in decades – to bring criminal charges under Section 2 of the Sherman Act, which prohibits monopolists or […]
UK Supreme Court Considers Privacy Rights of Executives Under Investigation
Two recent cases in the UK courts highlight the tension between an individual’s right to privacy during a criminal investigation and the freedom of the press to report on the investigation as a matter of public interest. Historically, the UK courts and authorities have largely protected the identities of individuals […]
DOJ Previews Enforcement Policies Aimed at Clinical Trial Fraud
On December 9, 2021, one of the nation’s top healthcare prosecutors made clear that clinical trial fraud will be a major enforcement priority of President Joe Biden’s Department of Justice.
Whistleblower Complaints and Rewards Explode Worldwide
What you need to know Since the onset of the COVID-19 pandemic, the number of whistleblower complaints received by regulators has exploded on both sides of the Atlantic. On November 15, 2021, the US Securities and Exchange Commission (SEC) reported that it paid out more in whistleblower awards in fiscal […]
Early SEC Enforcement Trends from Chairman Gary Gensler’s First 100 Days
Gary Gensler was sworn in as chair of the Securities and Exchange Commission on April 17, 2021. Chairman Gensler has promised to strengthen transparency and accountability in the financial markets. Under Chairman Gensler, we expect the SEC’s Division of Enforcement – led by Gurbir Grewal, who began work at the agency on July 26 – […]
US Supreme Court Narrows Scope of Computer Fraud and Abuse Act in Van Buren, Remands LinkedIn
On June 3, 2021, the US Supreme Court issued its decision in Van Buren v. United States in the Court’s first-ever interpretation of the Computer Fraud and Abuse Act (CFAA), the federal anti-hacking statute. Van Buren presented the question of whether someone “exceeds authorized access” under the CFAA, see 18 U.S.C. § 1030(a)(2), by accessing a computer […]
SPAC Enforcement Risks Increase with Enhanced SEC Scrutiny
What happened In a recent client alert, we discussed the dramatic rise in offerings of special purpose acquisition companies (SPACs) and some of the attendant litigation and enforcement risks. A raft of recent public statements and actions by Securities and Exchange Commission (SEC) staff reflect the agency’s enhanced scrutiny of […]