In September 2016, the New York State Department of Financial Services (the “NYDFS”) proposed new cybersecurity regulations (the “Proposed Rules”) for banks, insurance companies a...
On June 1, 2016, the United States Court of Appeals for the Second Circuit held that federal courts do not have jurisdiction to hear constitutional challenges to ongoing Securities and Ex...
On May 23, 2016, the United States Court of Appeals for the Second Circuit reversed a $1.3 billion civil penalty imposed against Countrywide Home Loans, Inc., Bank of America, N.A., and r...
On April 5, 2016, the U.S. Department of Justice (“DOJ”) launched a new one-year pilot program encouraging voluntary self-disclosure of misconduct related to the Foreign Corrupt Pract...
A recent Court of Appeals decision sharply limits the authority of judges to reject Deferred Prosecution Agreements (“DPAs”). On April 5, 2016, the U.S. Court of Appeals for the Distr...
On March 2, 2016, the CFPB announced that it had settled an enforcement action with Dwolla, Inc., an online payment platform, for making allegedly deceptive statements regarding its data ...
2015 proved to be a year of continued focus on anti-corruption enforcement. We have distilled key aspects of the year’s enforcement trends and resolutions to offer you succinct summarie...
To be guilty of insider trading, a tipper of inside information must receive a “personal benefit” in exchange for his tips. On January 19, 2016, the Supreme Court granted certiorari i...
On December 8, 2015, the U.S. Court of Appeals for the Second Circuit overturned the conviction of Jesse Litvak, a former Jefferies & Company (“Jefferies”) bond trader, for charges r...
On November 16, 2015, Deputy Attorney General Sally Quillian Yates gave a speech regarding the implementation of the Department of Justice’s recent policy initiatives to facilitate the ...
