China

Unsealed Indictment Illustrates Interplay Between Criminal and Civil Liability For Theft Of Trade SecretsU.S. Regulatory Challenges For Chinese Companies: The COSCO Case StudyU.S. Regulatory Challenges for Chinese Companies: The Bank of China Case Study

Compliance

New Anticorruption Decree Modifies Regulation of Brazilian Clean Companies ActSEC Division of Examinations Reinforces Gensler Initiatives in its 2022 Exam PrioritiesPriorities, Trends and Developments in Enforcement and Compliance

Corporate Advisory

First Circuit Upholds Border Searches of Electronic Devices Without Probable CauseA Playbook for Corporate DOJ InvestigationsSEC Chief Accountant Weighs in on Accounting Issues During the COVID-19 Outbreak

Corporate Civil Liability

Be Prepared: How to Proactively Account for Data PrivacyIncorporating Data Privacy Considerations Into InvestigationsBest Practices for Negotiating the Scope of an Investigative Request

Corporate Investigations

DOJ Indicts Founder of Nikola for Allegedly Defrauding Retail SPAC InvestorsDOJ Concedes Error In Title 18 Insider Trading Convictions After Supreme Court’s “Bridgegate” DecisionOFAC Settles with Digital Currency Payment Processor for Sanctions Violations

COVID-19

The CFPB’s Much-Anticipated Enforcement Shift Has BegunOFAC Issues Guidance on COVID’s Impact on Compliance and EnforcementSEC Chief Accountant Weighs in on Accounting Issues During the COVID-19 Outbreak

Criminal Enforcement

Authorities in U.S. Take Steps to Strengthen Enforcement of U.S. Measures Against RussiaSEC’s “Shadow Trading” Insider Trading Case Allowed to ProceedDOJ Announces First Set of Revisions Strengthening Corporate Criminal Enforcement Policies

Cross-Border Enforcement Issues

New Anticorruption Decree Modifies Regulation of Brazilian Clean Companies ActAuthorities in U.S. Take Steps to Strengthen Enforcement of U.S. Measures Against RussiaUnsealed Indictment Illustrates Interplay Between Criminal and Civil Liability For Theft Of Trade Secrets

Cybersecurity

DFS Enters Consent Order with Robinhood Crypto for Deficiencies in AML, Cybersecurity, and Virtual Currency ComplianceSEC Division of Examinations Reinforces Gensler Initiatives in its 2022 Exam PrioritiesSEC Chair Previews Ramp Up in Regulation and Enforcement in the Cybersecurity Context

Deterrence

SEC Brings Enforcement Action Against Global Brokerage Company, Finding False and Misleading Statements In Connection With Non-GAAP Financial MeasuresTask Force Led By Preet Bharara and Cleary Gottlieb’s Joon H. Kim Issues Report Recommending Reforms to Insider Trading LawIRS Issues Guidance on Deductibility of Settlement Payments Under New Law

Disclosure

SEC Brings Robo-Adviser Case Against Charles Schwab for Misleading Clients About Hidden CostsSEC Chair Previews Ramp Up in Regulation and Enforcement in the Cybersecurity ContextSEC Charges Eight Companies and Signals Need for Better Disclosures About Delayed Filings

Disgorgement

From Government Shutdown to COVID-19: SEC Enforcement Division Releases Final Chapter of Jay Clayton-led SECSupreme Court Upholds, with Limits, the SEC’s Authority to Seek DisgorgementHeadwinds and Shifting Priorities: Beyond the Numbers In The SEC Enforcement Division’s 2019 Annual Report

DOJ

DOJ Concedes Error In Title 18 Insider Trading Convictions After Supreme Court’s “Bridgegate” DecisionA Playbook for Corporate DOJ InvestigationsSecond Circuit to Reconsider the Scope of Insider Trading Prosecutions Under Federal Fraud Statutes After Supreme Court’s Bridgegate Decision

DOJ Developments

DOJ Announces First Set of Revisions Strengthening Corporate Criminal Enforcement PoliciesDOJ Indicts Founder of Nikola for Allegedly Defrauding Retail SPAC InvestorsRecent Settlement Highlights Risk of Follow-On Litigation Related to FCPA Investigations

DOJ Guidance

Priorities, Trends and Developments in Enforcement and ComplianceWhite House Issues Strategy on Countering CorruptionDOJ Announces First Set of Revisions Strengthening Corporate Criminal Enforcement Policies

DPAs

Senator Warren Proposes Bill to Hold Corporate Executives Criminally Accountable for Negligent ConductDOJ Remarks Highlight Changes to White Collar PolicyWhat To Look For In Proposed Singapore Deferred Prosecution Agreement (“DPA”) Legislation

Enforcement

DFS Enters Consent Order with Robinhood Crypto for Deficiencies in AML, Cybersecurity, and Virtual Currency ComplianceNew Anticorruption Decree Modifies Regulation of Brazilian Clean Companies ActSEC Brings Robo-Adviser Case Against Charles Schwab for Misleading Clients About Hidden Costs

Europe

Taxes: The Rules Continue to Change and Tax Authorities Focus on EnforcementItaly Reinforces Its Criminal Legal Framework to Target Crimes Affecting the Interests of the European UnionCMA Ramps Up Merger Control Enforcement Ahead of Brexit

FCPA

Priorities, Trends and Developments in Enforcement and ComplianceRecent Settlement Highlights Risk of Follow-On Litigation Related to FCPA InvestigationsDOJ Updates FCPA Corporate Enforcement Policy

Financial Institutions

SEC Chair Previews Ramp Up in Regulation and Enforcement in the Cybersecurity ContextTurning the Page: Highlights of the SEC’s Division of Examination’s 2021 PrioritiesA Playbook for Corporate DOJ Investigations

FinTech

DFS Enters Consent Order with Robinhood Crypto for Deficiencies in AML, Cybersecurity, and Virtual Currency ComplianceSEC Takes Aim at Crypto Lending in BlockFi Settlement; Calls on Market to “Come into Compliance”: Is Regulatory Clarity Coming Soon?Priorities, Trends and Developments in Enforcement and Compliance

GDPR

Ready to Pounce: Regulators Are Intensifying GDPR EnforcementU.S. CLOUD Act’s Potential Impact on the GDPREDPB Issues First Opinion on Administrative Arrangements Under the GDPR for Cross-Border Data Flows Between EU and Non-EU Securities Agencies

Germany

German Federal Constitutional Court: Seizure of Documents Relating to an Internal Investigation at German Office of International Law Firm Found Not to Violate Constitutional Rights

Global Crisis Management Series

Be Prepared: How to Proactively Account for Data PrivacyIncorporating Data Privacy Considerations Into InvestigationsBest Practices for Negotiating the Scope of an Investigative Request

Hong Kong

Hong Kong SFC and HKMA Issue New Guidelines for Reducing and Mitigating Hacking Risks Associated with Internet Trading

ICOs

SEC Issues Enforcement Action Against Unikrn, Inc. for its ICO, Prompting Rare Public Dissent from Commissioner Hester PeirceSEC Files First Suit Against Alleged Unregistered Broker-Dealer Operating in Digital Asset MarketsSEC Issues First ICO Enforcement Action Against a Self-Reporting Token Issuer

Italy

Italy Reinforces Its Criminal Legal Framework to Target Crimes Affecting the Interests of the European UnionInternal Investigations and Public Enforcement: Italy at a GlanceThe New Italian Law on Whistleblowing Procedures and Its Impact on Compliance Programs

Latin America

New Anticorruption Decree Modifies Regulation of Brazilian Clean Companies ActColombian Corporate Regulatory Authority Expands Application of Compliance and Transparency Program GuidelinesDOJ Updates Guidance Regarding Corporate Compliance Programs

NPAs

Legg Mason Settles FCPA Charge with SEC for $34.5 MillionWhat To Look For In Proposed Singapore Deferred Prosecution Agreement (“DPA”) Legislation

Other

Second Circuit Decision Reiterates The Limitations of Joint Defense Agreements

Regulatory

SEC Brings Rare Litigated Enforcement Action for Violation of Regulation FDColombian Corporate Regulatory Authority Expands Application of Compliance and Transparency Program GuidelinesReady to Pounce: Regulators Are Intensifying GDPR Enforcement

SEC Developments

SEC Brings Robo-Adviser Case Against Charles Schwab for Misleading Clients About Hidden CostsSEC Imposes Penalties and Sweeping Independent Consultant on CohnReznick for Alleged Audit Failures in Case Underscoring SEC’s Focus on “Gatekeepers”SEC Accounting Enforcement Action Signals Heightened Focus on Individual Accountability and Puts Public Company Executives on Notice for Potential SOX 304 Reimbursement

SEC Guidance

New ESG Rule Proposal Raises the Stakes under SEC’s New Marketing RuleSEC’s ESG Task Force Comes Out Swinging with Inaugural Enforcement Action Ahead of New ESG Disclosure RulesSEC Division of Examinations Reinforces Gensler Initiatives in its 2022 Exam Priorities

United States

DFS Enters Consent Order with Robinhood Crypto for Deficiencies in AML, Cybersecurity, and Virtual Currency ComplianceSEC Brings Robo-Adviser Case Against Charles Schwab for Misleading Clients About Hidden CostsSEC Imposes Penalties and Sweeping Independent Consultant on CohnReznick for Alleged Audit Failures in Case Underscoring SEC’s Focus on “Gatekeepers”

Virtual Currency

DFS Enters Consent Order with Robinhood Crypto for Deficiencies in AML, Cybersecurity, and Virtual Currency ComplianceSEC Takes Aim at Crypto Lending in BlockFi Settlement; Calls on Market to “Come into Compliance”: Is Regulatory Clarity Coming Soon?Taxes: Stepping up Enforcement and Ending the Global “Race to the Bottom”

whistleblower

From Government Shutdown to COVID-19: SEC Enforcement Division Releases Final Chapter of Jay Clayton-led SECTask Force Led By Preet Bharara and Cleary Gottlieb’s Joon H. Kim Issues Report Recommending Reforms to Insider Trading LawCFTC Issues First Whistleblower Award Originating From Both a Related Action and a Company Outsider