The U.S. federal banking agencies have issued an interagency statement addressing industry questions on model risk management and AML compliance. Specifically, the statement clarifies th...
The Financial Crimes Enforcement Network of the U.S. Department of the Treasury has begun a rulemaking to implement the beneficial ownership reporting provisions of the new Corporate Tran...
Parties considering whether to settle an SEC enforcement investigation or criminal proceeding have a reasonable expectation that they will know the likely consequences of a settlement. T...
In a recently issued administrative order, the SEC implicitly acknowledged that the limiting principles for disgorgement that the Supreme Court outlined in Liu v. Securities and Exchange ...
Davis Polk is pleased to present its DOJ and SEC FCPA Resolution Tracker. The tracker details key characteristics of corporate and individual FCPA resolutions and is available through the...
On January 11, 2021, the Supreme Court vacated the Second Circuit’s controversial decision in United States v. Blaszczak, which held that proof of a benefit to the tipper is not a requi...
The Anti-Money Laundering Act of 2020 implements the most extensive revisions to anti-money laundering law since the USA PATRIOT Act of 2001. The changes will affect both traditional fin...
Congress overrode the President’s Veto of the National Defense Authorization Act. Among other things, the new law expands to 10 years the time for the SEC to bring disgorgement claims ...
The National Defense Authorization Act approved by Congress last week would extend to 10 years the time for the SEC to file disgorgement claims for scienter-based violations. It also wou...
The Commodity Futures Trading Commission (CFTC) Enforcement Division’s Annual Report highlights the agency’s record number of enforcement actions in 2020, a focus on retail fraud case...
