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U.S. Supreme Court Asked to Review Eleventh Circuit’s Definition of “Instrumentality” under the FCPA

Late last week, we witnessed an interesting development in the FCPA world when a petition was filed urging the Supreme Court to revisit the Eleventh Circuit’s recent ruling in U.S. v. Esquenazi , a case that upheld the U.S. government’s broad definition of “instrumentality” under the FCPA.   If the Supreme Court grants the petition (and […]

Tchenguiz Settlement Highlights need for a revised SFO Investigations Code

The SFO have now in separate announcements provided some detail of their settlements with Vincent and Robert Tchenguiz .  This will be a relief for the Director, but not until completion of the hearing to determine costs awards which could prove to be the most painful part of the whole ordeal. Omitted from the announcement appears […]

US Role in UK Innospec case highlighted again

Much has been made of the sentences passed by HHJ Goymer at Southwark Crown Court this week in the long-running Innospec case. On the face of it, some of the defendants do appear to have escaped lightly. Paul Jennings, 57, was sentenced to 2 years in prison.  Miltiades Papachristos, 51, was sentenced to 18 months […]

SEC Subpoenas Lead to Government Power Struggle

An SEC insider trading investigation is testing the Commission’s power to subpoena information from another branch of government under the 2012 Stop Trading on Congressional Knowledge Act (“STOCK Act”). In April 2013, the SEC began investigating allegations that a staffer on the House Ways and Means Committee on Ways and Means leaked nonpublic, confidential information […]

SEC Rains on “Golf Buddies” Insider Trading Ring

A round of golf is the perfect opportunity to converse with friends. But as a group of amateur golfers recently discovered, offering a fellow player an insightful tip on his swing may cost you the round, but offering a fellow player an insider tip on a stock may cost much more. On July 11, 2014, […]