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Supreme Court Suggests It May Limit the SEC’s Authority to Seek Disgorgement From Defendants in Securities Actions

On April 18, 2017 the Supreme Court heard oral argument in Kokesh v. SEC in order to resolve whether the federal five-year statute of limitations for civil actions, which applies to “any civil . . . penalty, or forfeiture,” governs the SEC’s claims for disgorgement. This case follows the Court’s recent decision in Gabelli v. […]

SCOTUS: No Quid Pro Quo Where Gov. Official Merely Arranged the Meeting, the Menu, the Venue, the Seating

The hit Broadway musical Hamilton depicts a backroom dinner meeting between then Congressman James Madison (Virginia) and the titular Secretary of Treasury, during which Madison proposes a “quid pro quo”: Hamilton will convince President George Washington to move the nation’s capital to the Potomac in exchange for Madison providing the congressional votes needed to pass […]

UK Confiscation in the Wake of Tom Hayes

In January 2016, the Home Affairs Select Committee launched an Inquiry into the effectiveness of the UK’s proceeds of crime regime. It is anticipated that the Inquiry will hone in on the legal concept of ‘criminal benefit’ and how the UK enforcement authorities broadly define this concept when assessing the benefit obtained by defendants as […]

Recent News and Comments Show U.S. and U.K. Authorities’ Efforts to Get the Information Behind the Panama Papers Scandal

The Panama Papers have captured the public’s and the legal community’s attention, with blockbuster disclosures of the offshore dealings of various prominent persons. The investigation so far has been controlled by a team of journalists from various organizations, who have access to a purpose-built database of an estimated 11 million computer files, and have been […]

Utah Publishes Nation’s First Online White Collar Crime Offender Registry

Public shaming has reached new levels in Utah. In February 2016, the state became the first to publish an online registry of white collar crime offenders. The Utah White Collar Crime Offender Registry (“Registry”) has been a long-time goal of Utah Attorney General Sean D. Reyes, who stated that “[w]hite-collar crime is an epidemic in […]

Microsoft Sues U.S. Government in Privacy Fight

On April 14, 2016, Microsoft sued the United States Department of Justice, challenging a law that provides the government with authority to prevent technology companies from informing customers when their data is given to the government. This lawsuit comes in the wake of the FBI’s recent requests for Apple to unlock certain iPhones, once again […]

For White Collar Defendants, an Eight-Justice Court Could Mean Less Rights and More Liability

Despite the speculative ideological divide left in the wake of Justice Antonin Scalia’s untimely death, the Supreme Court’s five post-Scalia decisions, each decided 6-2 or better, have reflected appreciable consensus. But notwithstanding President Barack Obama’s nomination of D.C. Circuit Chief Judge Merrick Garland to fill Justice Scalia’s seat, uncertainty remains concerning the fate of cases […]

Assistant Attorney General Highlights Increased Worldwide Collaboration in the Fight Against Cybercrime, and Emphasizes the Need to Access Encrypted Data

On January 25, 2016, Leslie Caldwell, the Assistant Attorney General for the U.S. Department of Justice’s (DOJ) Criminal Division, spoke at the Internet Education Foundation’s 12th Annual State of the Net Conference in Washington, D.C. At this conference, she revealed that the DOJ has stationed investigators and prosecutors in five countries on four different continents […]

A Happy New Year for the SFO?

The Serious Fraud Office (“SFO”) will wave goodbye to 2015 with a few triumphs under its belt, but what will 2016 bring for David Green? 2015 was a year of “firsts” for the SFO: Tom Hayes was the first person to be tried for the manipulation of Libor. He was sentenced in August to 14 […]

New York’s Focus on Cybersecurity Likely to Increase Compliance Requirements

On November 9, 2015, New York’s top financial regulator, Anthony J. Albanese, Acting Superintendent of Financial Services for the New York State Department of Financial Services (“NYDFS”), issued a letter that outlined increased “cyber security defenses within the financial sector.”  The letter seeks proposals, collaboration and “ultimately, regulatory convergence” on “new, strong cyber security standards […]