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The Justice Department, the Environmental Protection Agency and the California Resources Board announced a joint settlement totaling roughly $1.5 billion with Daimler AG and its US subsidiary Mercedes Benz to resolve violations of the Clean Air Act and California law from the emissions cheating scandal. The EPA and CARB
Podcasts
Global companies face a number of challenges and a myriad of regulatory obligations. In December 2019, the EU adopted a directive to promote and protect persons who report violations of law. Companies will be required to implement compliance reporting channels and provide protection for certain whistleblowers from retaliation. To the
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I had the pleasure of appearing on Chad Main's excellent podcast, Technically Legal. Chad and I discussed the importance of technology and compliance and latest trends. Here is the Podcast.
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In the last five years, the Justice Department and the Commodities Futures Trading Commission have aggressively prosecuted “spoofing” cases. While the government’s record in these cases has been mixed, the government has been successful in securing guilty pleas and winning high-profile trials against traders. Prosecutors have continued to
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Deutsche Bank continues to have its problems – legal, compliance and reputational. Now, we can add OFAC sanctions compliance to the list of Deutsche Bank’s troubles. Deutsche Bank settled two separate matters with OFAC – one involving the processing of a large transaction connected to IPP Oil Products (Cyprus) Ltd, a
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In the wake of the International Institute of Auditors recent proclamation of a revised and controversial Three Lines of Defense Model, I thought it would be helpful to underscore the importance of the Internal Audit and Compliance functions to effective internal controls, including ethics and compliance programs. In most companies,
Podcasts
DOJ and the SEC settled concluded its long-pending FCPA investigation of Herbalife Nutrition Ltd (“Herbalife”). Herbalife entered into a 3-year deferred prosecution agreement (“DPA”) with DOJ and an administrative order with the SEC, and agreed to pay $55 million in criminal penalties and $67 million in disgorgement and
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Jessica Sanderson, Partner at the Volkov Law Group rejoins us for a posting on the Herbalife FCPA settlement and lessons learned. Jessica can be reached at jsanderson@volkovlaw.com. As we look past the Herbalife FCPA settlement with DOJ and the SEC for $123 million to resolve FCPA bribery and
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DOJ’s Antitrust Division is increasing criminal antitrust enforcement. After two relatively slow years of criminal enforcement, the Antitrust Division’s criminal enforcement program is steadily increasing. The next five years promises to be a time of aggressive criminal cartel enforcement. DOJ’s Antitrust Division has been racking up indictments
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Criminal investigations and enforcement programs ebb and flow – not necessarily because of a lack of initiative or some intentional slowdown. Cases take time to investigate and prosecute. The Antitrust Division’s Criminal Enforcement program has always been consistent and successful, fueled by the corporate leniency program instituted in the 1990s
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From everyone at The Volkov Law Group, we wish our clients, colleagues, friends and family a Happy Labor Day. To everyone, we thank you for your contributions to our economy and the care of everyone in our country and around the globe. We specifically want to thank our first responders,
Podcasts
In a surprise indictment, the US Attorney’s Office for the Southern District of New York announced that Steve Bannon, Brian Kolfage, Andrew Badolato and Timothy Shea were indicted for defrauding hundreds of thousands of donors in response to the “We Build The Wall” online fundraising campaign. The indictment charges