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Last update: Mar 20, 2007
Blank Rome: Criminal Liability of the Mariner (and His Employer) Sep 01, 2005
This trend is alarming not only because it targets both denizens of the wheelhouse and the executive suite alike, but because it relies upon criminal statutes that are out of step with traditional tenets of criminal law and employs prosecutorial tactics which often lead to the distortion of facts and the loss of attorney-client privileges. Another type of attractive case is collision or allision resulting in passenger death or injury, such as the October 2003 Staten Island Ferry disaster
Seyfarth Shaw: July 2005 California Labor & Employment Law Update Aug 02, 2005
Kilpatrick Stockton: Taking on a modern hydra Jul 25, 2005
ANCIENT GREEKS told the legend of Hercules. Today, litigants view the labors of meeting e-discovery obligations as just as daunting and dangerous as Hercules' labors
Miller & Chevalier: International Alert - Sentencing in Kay and Murphy Case... Jun 30, 2005
Yesterday, the District Court for the Southern District of Texas sentenced two American Rice, Inc. executives in the widely watched Kay Foreign Corrupt Practices Act ("FCPA") violations case. The defendants were convicted last August for FCPA violations arising from bribes paid to Haitian customs and sales tax officials
Mintz Levin: White Collar Practice Advisory: More than a Shred of Ev... Jun 17, 2005
...arguments; for(x=0; x Main > Publications > Publications White Collar Practice Advisory: More than a Shred of Evidence: Further Lessons from Andersen June 17, 2005 Whether under prior or new obstruction statutes, the Supreme Court's decision to overturn the conviction of the now defunct Arthur Andersen accounting firm for obstruction of justice is an important milestone for prosecutions based on the execution of document retention programs in the corporate and professional setting. To read about
Blank Rome: White Collar Alert Jun 01, 2005
Click here to view Blank Rome LLP's complete newsletter indexClick here to view all members of the Maritime practice group-- Whistleblowers Awarded $250,000 for Reporting Illegal Discharge of Oil at Sea The importance of implementing effective environmental compliance programs was recently demonstrated yet again. A federal district court in California has awarded four crew-members of the M/V Katerina a total of $250,000 under the bounty provision of the Act to Prevent Pollution from Ships for
Greenberg Traurig: Lessons Learned (and Yet-To-Be-Learned) from the Arthur... Jun 01, 2005
The unanimous U.S. Supreme Court recently overturned Arthur Andersen’s 2002 criminal conviction for destroying documents in the wake of the Enron accounting scandal. In the process, the Court validated the common use of “valid” corporate document retention policies in ordinary circumstances
Dorsey & Whitney: 2004 Annual Pro Bono Report May 01, 2005
P.E.A.C.E. Foundation Business Pro Bono LegalCORPS Marital Dissolution and Other Family Law Matters Child Custody Marital Termination Environment Sale of Vacant Lot Bicycle Trails Montana Wilderness Association Political Asylum/Immigration Class Action Political Asylum International Human Rights Guantanamo Bay Detainees General Civil Litigation Animal Rights American Horse Defense Fund Consumer/Bankruptcy Law Discharge of Student Loans Contract Dispute Economic Development Housing
McDermott: Key Nonprofit Corporate Law Developments in 2004 Feb 03, 2005
3,2005) Copyright 2005 by The Bureau of National Affairs, Inc. (800-372-1033) http://www. Copyright 2005 by The Bureau of National Affairs, Inc. (800-3721033) http://www
Miller & Chevalier: International Alert - Verdict in Kay Case: Guilty on Al... Oct 08, 2004
The Kay case has been closely watched because the defendants had previously mounted a challenge to the statute that, if successful, would have dramatically contracted the scope of the law. At trial on remand, defendants argued both that the elements of the offense were not met and that the payments came within the "facilitating payments" exception
McDermott: Health: A General Counsel?s Guide to Avoiding ?Obstruct... Jun 08, 2004
McDermott - Newsletters - Health Litigation: A General Counsel’s Guide to Avoiding “Obstruction of Justice” Liability if (document. images){ home_off = new Image(); home_off
Sedgwick: Safe Communication: Guidelines for Creating Corporate D... May 01, 2004
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Miller & Chevalier: First Sarbanes-Oxley Whistleblower Decision Apr 01, 2004
Lessons for the Conduct of Internal Investigations, and Consideration of When Individual Counsel May Be Excluded from Witness Interviews By Mark Rochon and Simon Kann. n the first ruling applying the whistleblower protections of the Sarbanes-Oxley Act of 2002, 18 U.S.C. § 1514A, an Administrative Law Judge (ALJ) ordered a bank holding company to rehire its former Chief Financial Officer (CFO), after finding that the company fired the CFO in retaliation for reporting alleged accounting misconduct
Bell: Antitrust Update February 2004 Feb 01, 2004
Although telecommunications regulators had already penalized Verizon, the plaintiff, the Law Offices of Curtis V. Trinko, LLP, sought to bring a class action, alleging that Verizon had engaged in an anticompetitive scheme to discourage customers from using competitors' networks by denying those competitors access to Verizon facilities. The U.S. Supreme Court held that Trinko's complaint failed to state a claim for violation of the antitrust laws
Arnold & Porter: Corporate Governance Reform and Financial Institution I... Feb 01, 2004
In light of this focus, financial institutions should take defensive measures, including review of their conflicts of interest and insider trading procedures by Isaac Lustgarten and Jonathan C. Stapleton Statutes, case law and industry practice continue to dictate the evolving responsibilities of financial institution intermediaries. Amid much publicity, the US Sarbanes-Oxley Act (SOX), went into effect on July 30, 2002, and resulted in a well-publicized frenzy of regulation adoption by the US
Preston Gates & Ellis: Corporate Compliance Programs: Weaving an Effective Com... Dec 10, 2003
2003Corporate Compliance Programs: Weaving an Effective Compliance Web Download a printable version of this articleSimply put, corporate compliance programs are designed to prevent and detect violations of the law. Compliance programs make good business sense because they: reduce the likelihood of a violation of the law; lower the costs of a violation; and build a values-based culture
Faegre & Benson: Lessons and Risks From the Wal-Mart Immigration Raids Dec 01, 2003
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Bell: Antitrust Update November 2003 Nov 01, 2003
...l FTC Issues Report Recommending Adjustments to Patent System to Maintain "Proper Balance" with Competition Policy l Criminal Charges Brought Against Executives in Shipping, Carbon Products and Chemicals Industries l Antitrust Division Sues to Enjoin $7 Billion Merger of Debit Card Networks l $405 Million Unfair Competition Award Reversed Under NoerrPennington Doctrine l Industry Benchmarking and Best Practices Survey Cleared l Antitrust Division Loses Exclusive Dealing Trial Despite Defendant's
Debevoise: Designing Policies and Procedures For Handling Complain... Oct 31, 2003
...pubid=14434410312003=4yes','link','width=617,height=550,menubar=yes,location=yes,scrollbars,left=0,top=0'); } Designing Policies and Procedures For Handling Complaints and Whistleblowers Under the Sarbanes-Oxley Act of 2002October 31, 2003The Sarbanes-Oxley Act of 2002 (the "Act") contains several provisions aimed at breaking what one Senator called "the corporate code of silence." These provisions are designed to encourage individuals, particularly corporate insiders and professionals, to raise
Parker Poe: (View PDF) Oct 13, 2003
October 2003 EDITOR: Josephine H. Hicks MINIMIZING THE RISK OF MOLD CLAIMS John Francisco Mold is everywhere. g., leaky roofs, windows, doors, air conditioners and plumbing; flooding; excessive humidity or moisture in the air, etc
Miller Canfield: Hot Points Fall 2003 Oct 01, 2003
Embezzlement is a crime of broken trust that can severely damage your. Here are some simple steps you can take to prevent and detect employee theft and comply with laws related to obstruction of justice
Hale and Dorr: Parallel Criminal and SEC Prosecution Present New Risks... Aug 19, 2003
Hale and Dorr LLP - Publications - Parallel Criminal and SEC Prosecution Present New Risks for Public Companies and their Officers and Directors hot off the pressemail alertsarchive searchsign up for legal updates Parallel Criminal and SEC Prosecution Present New Risks for Public Companies and their Officers and Directors August 19, 2003 For years the Securities and Exchange Commission was nearly alone in the federal government’s enforcement of the securities laws. Criminal securities fraud
Miller & Chevalier: Sarbanes-Oxley: Consequences for FCPA Compliance Aug 01, 2003
The Sarbanes-Oxley legislation1 was designed to strengthen corporate governance of publicly traded companies in the wake of Enron and other corporate accounting and fraud scandals of recent years. However, in just the short time since its enactment, Sarbanes-Oxley has begun to have a profound impact on other areas of corporate compliance and risk management as well
Thelen Reid & Priest: When The Government Comes Calling: Grand Jury Subpoenas... Jul 17, 2003
When The Government Comes Calling: Grand Jury Subpoenas & Search Warrants When The Government Comes Calling: Grand Jury Subpoenas & Search Warrants July 17, 2003 Click icon for printer-friendly version of this article. By George B. Newhouse, Jr. I. OVERVIEW A. During a complex white collar investigation, Government typically begins its investigation in one of three simple, effective and intimidating ways: 1
Hogan & Hartson: "White-Collar Crime: Counseling Corporate Clients ... Jul 07, 2003
This scrutiny is likely to come not just from federal and state prosecutors but also from the Securities and Exchange Commission and NASD.1 Upon learning that a client is the subject or the target of a criminal investigation, it is vital that certain steps be undertaken quickly. An important new part of the law enforcement landscape, the Sarbanes-Oxley Act and the SEC rules promulgated thereunder, impose investigative and reporting requirements on corporate counsel who learn of allegations of
Bricker & Eckler: Sarbanes-Oxley Requires Public and Private Companies to... Jun 01, 2003
...com Sarbanes-Oxley Requires Public and Private Companies to Rethink Document Retention John P. Beavers Bricker r LLP June 2003 The Sarbanes-Oxley Act of 2002 will have companies and their boards and executives rethinking their document retention, as one of its provisions provides for criminal penalties of up to 20 years imprisonment and fines up to $10 million for anyone who. knowingly alters, destroys, mutilates, conceals, covers up, falsifies, or makes a false entry in any record, document, or
Winstead: Retaining documents important May 25, 2003
Companies should develop their records retention program systematically in the regular course of their business. The resulting plan must ensure that the document retrieval needs of the company and its employees are met, and all applicable laws and regulations must be complied with
Baker Botts: Preparing and Preserving Important Business Records: De... May 16, 2003
When it comes to documenting activities, a business is the master of its own fate. However, lack of documentation and improper documentation increase the risks of litigation and seriously complicate legal proceedings
Fried Frank: The New SEC Enforcement Environment May 09, 2003
Congress and the President enacted dramatic legislation, the Sarbanes Oxley Act of 2002 ("SOX"), spawning 18 months of regulatory metamorphosis, half of which lies ahead. Steve Cutler, Director of the SEC's Division of Enforcement, noted in recent speeches that the SEC brought 163 cases involving allegations of improper accounting, inadequate disclosure, or outright financial fraud during fiscal 2002, out of a record 598 cases for that year (http://www
Morgan Lewis: Ethical Considerations When Representing Nonprofit and ... Apr 24, 2003
Ethical Considerations When Representing Nonprofit and Tax-Exempt Organizations. Table of Contents Page INTRODUCTION.
Vinson & Elkins: "Perspectives on Counseling and Defending Non?HSR ... Apr 03, 2003
Goodwin Procter: SEC as Agressive Enforcer: The Role of In-House Counsel Apr 01, 2003
Lawyers Weekly Page 1 of 4. By R. Todd Cronan The list of companies subject to SEC enforcement actions in 2002 reads like a "Who's Who" of the business community -- including Adelphia, Enron, K-Mart, Microsoft, Raytheon, Tyco, WorldCom, and Xerox
Hogan & Hartson: "The Onset of a Government Investigation: Is Your ... Mar 01, 2003
THE ONSET OF A GOVERNMENT INVESTIGATION: IS YOUR COMPANY PREPARED TO RESPOND. Table of Contents Introduction
Piper Rudnick: Sarbanes-Oxley Act: What Employers Need to Know Feb 27, 2003
Ropes & Gray: Sarbanes-Oxley and the Cost of Criminalization Feb 26, 2003
Ropes & Gray: Sarbanes-Oxley and the Cost of Criminalization Feb 26, 2003
It is a very attractive sport, and once it gets started quite a lot of people everywhere are found ready to join in the chase. The question arises whether the general well-being of the masses of the community will be advanced by an excessive indulgence in this amusement
Lane Powell: Defending Health Care Fraud and Abuse Feb 20, 2003
3) Scope of Chapter § Background Substantive Law. 7) Investigation by Government Officials Responding to an Investigation Subpoenas for Documents or Testimony
Winstead: Developing an Effective Document Retention Policy Feb 10, 2003
In the aftermath of the Enron/Arthur Andersen debacle, all companies should be carefully scrutinizing their document retention policies to ensure that they are properly protected from obstruction of justice charges and potentially ruinous claims of spoliation of evidence in litigation. It is critical that a company develop a records retention program systematically in the regular course of its business
Dykema Gossett: Sentencing Guidelines Modified In Response To SarBanes-... Feb 01, 2003
As required by sections 805, 905, and 1104 of the Sarbanes-Oxley Act of 2002 (the "Act"), the United States Sentencing Commission ("USSC") promulgated emergency amendments to the Federal Sentencing Guidelines in January 2003 aimed at lengthening prison sentences for white-collar criminal activity. The USSC is in the process of drafting permanent amendments that they expect to vote on in April of this year
Quinn Emanuel: Document Retention Under the Sarbanes-Oxley Act: Puttin... Feb 01, 2003
In the wake of the Enron bankruptcy and the conviction of Arthur Andersen, LLP for shredding documents, much attention has been focused on the legal requirements for document retention and the consequences of insufficient or flawed document retention policies. The Sarbanes-Oxley Act of 2002 made document retention issues even more important, specifically including a section mandating that auditors retain all audit or review documents for five years after the fiscal period in which the audit or
Paul Weiss: A Litigator's Perspective on Sarbanes-Oxley: An A... Jan 27, 2003
A Litigator's Perspective on Sarbanes-Oxley: An Assessment of Some Key Issues. This article discusses the impact of the legislation on private civil
McKenna Long & Aldridge: Implementation of Sarbanes-Oxley: Phase II Jan 23, 2003
IMPLEMENTATION OF SARBANESOXLEY: PHASE TWO January 23, 2003 Vol. II No. 2. In the fall of 2002, we published a number of advisories addressing the various areas of corporate governance affected by these changes
Fried Frank: Civil False Claims Act: Ninth Circuit Issues Important ... Dec 17, 2002
...xsp; No. 02-12-17 December 17, 2002 Civil False Claims Act: Ninth Circuit Issues Important Decision on Use of Sampling and Spoliation of Evidence A panel of the Ninth Circuit issued a decision yesterday that addresses two critical issues for entities investigating and defending potential fraud allegations. First, the court of appeals stated unequivocally something that FCA defendants have long thought should be obvious: "that a False Claims Act suit ought to require a false claim." See United
Venable: "It???s Not Just about Enron: Guide to the Sarbane... Dec 04, 2002
...xable LLP Home Publications Articles Printer Friendly Version ARTICLES It’s Not Just about Enron: Guide to the Sarbanes-Oxley Act for Nonprofit Organizations By W. Warren Hamel December 4, 2002 In the midst of the extraordinary corporate and accounting scandals that have captured the attention of federal regulators and the public in the past year, Congress passed new and far-reaching corporate governance legislation, the "American Competitiveness and Corporate Accountability Act of 2002,"
O'Melveny & Myers: SEC Obtains First Three Cease-and-Desist Orders for Vio... Dec 02, 2002
Clients and Other Interested Parties December 2, 2002 SEC Obtains First Three Cease-and-Desist Orders for Violations of Regulation FD and Issues Report of Investigation in Fourth Regulation FD Enforcement Proceeding. On November 25, 2002, the Securities and Exchange Commission obtained the first three ceaseand-desist orders for violations of Regulation FD and issued a fact finding report in a fourth Regulation FD enforcement proceeding
Thelen Reid & Priest: Proposed Rules on Retention of Records Relevant to Audi... Nov 26, 2002
Proposed Rules on Retention of Records Relevant to Audits and Reviews Proposed Rules on Retention of Records Relevant to Audits and Reviews November 26, 2002 By Garrison D.B. Alexander Last week, the Securities and Exchange Commission issued, in the form of Release No. 33-8151; 34-46869,1 proposed rule amendments implementing a portion of section 802 of the Sarbanes-Oxley Act of 2002 2 to require accountants who audit or review an issuer's financial statements to retain certain records relevant
O'Melveny & Myers: California Corporate Disclosure Act--New Information Fi... Nov 06, 2002
The Act requires companies incorporated or qualified to do business in California to make annual filings with California's Secretary of State that will be publicly available and eventually will be electronically accessible by the public. director and executive officer compensation, loans to directors, bankruptcy, fraud convictions, securities law violations, and independent auditors
Jones Day: Contingency Planning for Search Warrants and Direct Gov... Nov 01, 2002
...href = "/about/about.asp?language=" + lang ; } Select a Language DeutschEnglishEspañolFrançaisItaliano日本語简体ä¸æ–‡ç¹?é«”ä¸æ–‡ Publications Search Email A Friend Related Areas of Practice Health Care Compliance Counseling and Defense If you would like to receive a publication, please fill out our Publication Request Form View our current Jones Day Quarterly. Executing search warrants and surprise requests for interviews are among the most extreme and intrusive of the government's
Jones Day: Contingency Planning for Search Warrants and Direct Gov... Nov 01, 2002
Executing search warrants and surprise requests for interviews are among the most extreme and intrusive of the government's tools to investigate health care fraud and abuse. Health care providers, operating in an intense regulatory climate, should be prepared for these forms of investigative techniques
Caplin & Drysdale: Tax Accounting Monthly Column Nov 01, 2002
He will also give an overview of what private foundations can and can't do in the public policy process. November 14, 2002 American Council of Young Political Leaders Meeting Location: Caplin ale, Washington, DC Speaker: Trevor Potter Mr. Potter will speak to the Chinese delegation regarding campaign finance
O'Melveny & Myers: SEC Proposals with respect to (1) Non-GAAP Financial In... Nov 01, 2002
Our Clients and Other Interested Parties November 1, 2002 SEC Proposals with respect to (1) Non-GAAP Financial Information, (2) Rapid Disclosure of Financial Information, (3) MDlosure of OffBalance Sheet Arrangements, and (4) Insider Trading During Pension Fund Blackouts. On October 30, 2002 the Securities and Exchange Commission proposed for public comment several rules to implement provisions of the Sarbanes-Oxley Act ("SOX")
Greenberg Traurig: Avoiding civil and criminal penalties resulting from th... Oct 14, 2002
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O'Melveny & Myers: Corporate Governance--NYSE Proposals re: Shareholder Ap... Oct 14, 2002
Clients and Other Interested Parties October 14, 2002 Corporate Governance--NYSE Proposals re: Shareholder Approval of Equity Incentive Plans and Member Broker Voting on Plans. On October 11, the Securities and Exchange Commission (SEC) published corporate governance reform proposals submitted to it by the New York Stock Exchange (NYSE) with respect to shareholder approval of NYSE listed company equity compensation plans and the voting on them by street-name holders
Nutter McClennen & Fish: Fall 2002 Oct 01, 2002
By Robert L. Ullmann Now that the shock of Arthur Andersen's criminal prosecution has worn off, there are lessons to be learned from the first-ever conviction of a global accounting firm. Although the government charged Andersen with witness intimidation, not obstruction of justice, the case shone a floodlight on the vexing issue of when the destruction of a company's records not under subpoena can nonetheless become obstruction of justice
Bell: Document Retention Post Enron Oct 01, 2002
Document retention policies -- more aptly described as document management policies -- facilitate the orderly disposal of documents within the boundaries of the law. Health care providers, in addition to maintaining business and corporate records, are also charged with the responsibility of maintaining patient care records
Crowell & Moring: The New Sarbanes-Oxley Act: Will It Come To Your Mine? Oct 01, 2002
Tim Biddle and Tim Means Mining Law Monitor Fall 2002 If you were on the planet earlier this year, you know about the cratering of Enron, WorldCom, Global Crossing, and several other big publicly-held companies after their financial shenanigans were revealed. Because a few provisions of the new law are very broadly written and, read literally, could apply to all kinds of federal regulatory proceedings and investigations, not just those mounted by the SEC. Remember how Arthur Andersen employees
O'Melveny & Myers: Corporate Governance--NASD Proposals re Shareholder App... Oct 01, 2002
SUBJECT: Corporate Governance--NASD Proposals re Shareholder Approval of Stock Option and Other Arrangements and NYSE Member Broker Voting on Plans. The Securities and Exchange Commission (SEC) today officially published corporate governance reform proposals submitted to it last week by the National Association of Securities Dealers, Inc. (NASD) with respect to shareholder approval of Nasdaq-listed company stock option plans and other arrangements pursuant to which stock may be acquired by
Paul Weiss: Implementation Schedule Sep 23, 2002
The following charts set forth the schedule on which provisions of the Sarbanes-Oxley Act became effective or are to become, following SEC rulemaking, effective and the proposed transition rules for the stock exchange corporate governance provisions. Topic Establishment of Public Company Accounting Oversight Board
McKenna Long & Aldridge: Corporate Records Retention Policy Critical in Current ... Sep 03, 2002
Corporate Records Retention Policy Critical in Current Environment September 3, 2002 Part 8 of a series from the Corporate Group. Certain events have drawn attention to the need for a proper and consistently applied records retention policy for all types of companies
Dykema Gossett: Closely Held Companies Beware -- Certain Provisions of ... Sep 01, 2002
CLOSELY HELD COMPANIES BEWARE-- CERTAIN PROVISIONS OF SARBANES-OXLEY AFFECT ALL COMPANIES. Though aimed at public companies, the recently enacted Sarbanes-Oxley Act of 2002 (the "Act") has implications for private companies as well
Thelen Reid & Priest: Sarbanes-Oxley Act of 2002: Summary and Analysis of Cri... Aug 22, 2002
Sarbanes-Oxley Act of 2002: Summary and Analysis of Criminal Provisions Sarbanes-Oxley Act of 2002: Summary and Analysis of Criminal Provisions August 22, 2002 By Robert J. Saville, Laurence S. Hirsh and Richard P. Swanson Click here to read additional articles regarding corporate governance, public company disclosure and accounting reforms. On July 30, 2002, President Bush signed into law the Sarbanes-Oxley Act of 2002 (the "Act"), a sweeping piece of reform legislation intended to protect
White & Case: Sarbanes-Oxley Act of 2002 - General Aug 06, 2002
SUMMARY OF THE PROVISIONS OF THE SARBANES-OXLEY ACT OF 2002. Provisions of the Act Affecting Corporate Responsibility
Jenner & Block: Jenner & Block News Alert - "New Law Imposes New R... Aug 01, 2002
Fried Frank: Sarbanes-Oxley Act of 2002 - Timeline for Implementatio... Aug 01, 2002
TIMELINE ARISING UNDER THE SARBANES-OXLEY ACT OF 2002 - PROVISIONS EFFECTIVE JULY 30, 2002. Chief executive and financial officers are required to certify periodic financial reports and are subject to criminal penalties based on such certifications; · Chief executive and financial officers are required to forfeit certain bonuses and profits if their companies issue an accounting restatement as a result of misconduct; · Issuers are generally prohibited from extending personal loans to executives;
Morgan Lewis: Pros and Cons of an Internal Investigation Aug 01, 2002
Ms. Thiel acknowledges the assistance of the Morgan Lewis Corporate Investigations and Criminal Defense Group in the preparation of this article. Although ignorance is bliss, the healthcare industry has learned through hundreds of investigations and millions of dollars in penalties that it cannot afford willful ignorance
Sidley Austin: In Contention - August 2002 Aug 01, 2002
It is doubtful that practices which misrepresent earnings and expenses, profits and losses, which deceive shareholders and regulators, and result in overpriced shares and inappropriate rewards for senior company executives, are confined to America. These practices have led to a welter of criminal charges, civil proceedings and regulatory actions in the U.S., including fraud, filing false financial statements, insider dealing, obstruction of justice and evidence tampering
Sullivan & Worcester: Time Line For Implementation of the Sarbanes-Oxley Act&... Aug 01, 2002
S&W LLP -> S&W in Print -> S&W Publications -> Time Line For Implementation of the Sarbanes-Oxley Act of 2002 S&W Publications | News & Views 444 ) frameHeight = frameHeight - 444; document. write( '' ); // -- Time Line For Implementation of the Sarbanes-Oxley Act of 2002 Securities rate Finance and Business Law Departments Client Advisory #2002-15 August 2002 Printable version (Adobe PDF) As you are aware, the Sarbanes-Oxley Act of 2002 (the "Act") was signed into law on July 30, 2002
Baker & Hostetler: The Sarbanes-Oxley Act of 2002: New Criminal Provisions... Aug 01, 2002
Strasburger: Key Provisions of the Sarbanes-Oxley Act of 2002 Aug 01, 2002
On July 30, 2002, President Bush signed into law a lengthy set of corporate governance changes contained in the Sarbanes-Oxley Act of 2002. The new law: · dramatically changes the regulation of public accountancy; · sets new standards for corporate governance; · enhances enforcement authority for the Securities and Exchange Commission; and · adds criminal statutes and increases penalties for illegal conduct by corporate executives, accountants and lawyers
Hogan & Hartson: "Major Securities Reform Legislation Enacted" Jul 31, 2002
July 31, 2002 On July 25, Congress overwhelmingly enacted the Sarbanes-Oxley Act of 2002, and President Bush signed it into law on July 30. It applies to all public companies (domestic or foreign) that have registered or file reports under the Securities Exchange Act of 1934, as well as companies that have a registration statement pending under the Securities Act of 1933 that has not been withdrawn
Lowenstein Sandler: Sarbanes-Oxley Act of 2002 Creates New Federal Crimes Jul 31, 2002
...n the wake of the largest corporate accounting scandals in this country's history, the United States Congress has passed legislation that radically alters the legal landscape in which public companies and the accounting firms who audit those companies operate. The Sarbanes-Oxley Act of 2002 (the "Act"), which President Bush signed into law yesterday, contains a number of diverse provisions the broad reach of which extends not only to the perceived targets of Congressional ire -the public
Haynes and Boone: 7/31/2002 - Sarbanes-Oxley Act of 2002 Promises Far-Rea... Jul 31, 2002
Haynes Boone | KnowledgeConnect | 2 - Sarbanes-Oxley Act of 2002 Promises Far-Reaching Implications for Public Companies 3) { window. visibility = "visible"; } } //-- PublicationHot TopicsPublicationsFirm Seminars7/31/2002 - 2 - Sarbanes-Oxley Act of 2002 Promises Far-Reaching Implications for Public Companies AuthorsArthur S. BernerMichael M. BooneDennis R. CassellWilliam R. Hays IIIRobert R. KibbyDarrel A. RiceJanice V. SharryRelated Practice GroupsCorporate/SecuritiesSarbanes-Oxley/Corporate
Preston Gates & Ellis: Accounting Reform and Corporate Governance Bill Signed ... Jul 31, 2002
2002Accounting Reform and Corporate Governance Bill Signed by President Bush Download a printable version of this alertOn July 30, 2002, President Bush signed into law the Public Company Accounting Reform and Investor Protection Act of 2002 (also referred to as the Sarbanes-Oxley Act of 2002 and referred to herein as the "Act"). The heart of the Act is the establishment of a new Public Company Accounting Oversight Board (the "Accounting Oversight Board") that has the power to set rules,
Testa: The Sarbanes-Oxley Act Amends Federal Criminal Laws Rel... Jul 30, 2002
...xsp; Client Bulletins The Sarbanes-Oxley Act Amends Federal Criminal Laws Relating to Corporate Fraud Click Here for PDF Version 7/30/2002 EXECUTIVE SUMMARY On July 30, 2002, President Bush signed into law the Sarbanes-Oxley Act of 2002 (“the Act”). ArticleID=817 In a nutshell, the highlights of the Act’s criminal law provisions include the following: Creation of new crimes, including o “Securities fraud”; o Attempt to commit fraud; o Destruction of documents and tampering with evidence in
Testa: The Sarbanes-Oxley Act Amends Federal Criminal Laws Rel... Jul 30, 2002
July 30, 2002 EXECUTIVE SUMMARY On July 30, 2002, President Bush signed into law the Sarbanes-Oxley Act of 2002 ("the Act"). ArticleID=817 In a nutshell, the highlights of the Act's criminal law provisions include the following
Mintz Levin: Litigation Client Alert: Corporate Compliance After Enr... Jul 26, 2002
Mintz Levin Cohn Ferris Glovsky and Popeo // Publications Main > Publications > Publications Litigation Client Alert: Corporate Compliance After Enron July 26, 2002 The implosion of Enron and WorldCom, the trial of Arthur Andersen, the prosecution of Tyco's former CEO for tax evasion and possible obstruction of justice, continuing accounting questions at several other public companies, innumerable SEC investigations, and of course, the trouble of Martha Stewart, have quickly and fundamentally
Hogan & Hartson: "Congress and President Bush Take Further Action t... Jul 12, 2002
As explained below, these steps included Senate action to enhance the remedies for corporate fraud, and the formation of a "corporate fraud task force" pursuant to an executive order signed by the President. The President In his July 9th speech, the President called for a new ethic of personal responsibility in the business community, and announced the signing of an executive order creating an interagency task force to coordinate financial crimes investigations and prosecutions
King & Spalding: Client Alert: CEO and CFO Certification to the SEC: Som... Jul 12, 2002
July 12, 2002 CEO and CFO Certification to the SEC: Some Practical Guidelines On June 27, 2002, the SEC issued an order requiring the CEOs and CFOs of more than 900 of the largest public companies in the United States to file certifications, under oath, confirming the accuracy of certain filings previously made with the SEC. Each officer must certify that, to the best of his or her knowledge, no covered filing contained an untrue statement of a material fact or omitted to state a material fact
Kirkland & Ellis: SEC Orders Personal Certification of SEC Reports by CEO... Jul 08, 2002
Bell: When Is It Possible For A Firm To Discard Business Reco... Jul 01, 2002
It is a fact of life that companies need to discard records in the course of their operations. Document "retention" policies -- more aptly described as document "management" policies -- facilitate the orderly disposal of documents within the boundaries of the law
Testa: Document Retention and Destruction Policies Jul 01, 2002
Until recently, two general considerations shaped the response to this question: (1) the amount of available computer storage capacity and the cost of expanding that capacity; and (2) the legal requirements and industry customs dictating or influencing how long certain types of documents and electronic data should be retained. With the exception of documents that must be retained for specific periods by law or contract (tax records, personnel files and government contracts, for example),
O'Melveny & Myers: Future Corporate Governance Jul 01, 2002
President Bush's signature of the Act on July 30, 2002 is an important milestone, but just one of many, on what has become a very bumpy corporate governance highway. We are in the midst of the most intense corporate governance reform since the postDepression activities that led to the Securities Act of 1933 and the Securities Exchange Act of 1934
Frost Brown Todd: Representing Media Clients and Their Employees in Newsg... Jul 01, 2002
Vinson & Elkins: "Representing Media Clients and Their Employees in... Jul 01, 2002
Vinson & Elkins: "Representing Media Clients and Their Employees in... Jul 01, 2002
Quinn Emanuel: Ten Things Every In-House Counsel Should Know About Cor... Jun 01, 2002
I come to proffer my whole-hearted help and counsel. With recent corporate financial scandals and the accompanying focus on the roles of accountants and lawyers, law enforcement is now aggressively investigating where they never have before
Goodwin Procter: “Corruptly Persuading” — The Obstruct... May 01, 2002
SENIOR EDITOR Robert Woodman McSherry M.S., Criminology CONTRIBUTING EDITOR Joseph F. Savage, Jr. Testa, Hurwitz ault, LLP BOARD OF EDITORS Stuart J. Baskin Shearman ing Roger J. Bernstein Bernstein r Barry A. Bohrer Morvillo, Abramowitz, Iason rberg Judd Burstein Attorney Charles M. Carberry Jones, Day, Reavis John C. Coffee Jr. Columbia Law School Thomas C. Frongillo Testa, Hurwitz ault, LLP Jeffrey Glekel Skadden, Arps, Slate, Meagher Jay Goldberg Attorney Frederick P. Hafetz Hafetz les
O'Melveny & Myers: Useful Practice Guidelines for Corporate Counsel Relati... May 01, 2002
Clients and Other Interested Parties May 29, 2002 Useful Practice Guidelines for Corporate Counsel Relating to Obstruction of Justice Issues. As dramatically underscored by federal criminal charges of obstruction of justice1 against Arthur Andersen LLP ("Andersen") and its former managing partner for the Enron Corporation engagement team, how one responds to even potential federal enforcement inquiries can be of critical importance to businesses and executives
Stoel Rives: Timing is Everything: Document Destruction & Crime-Frau... May 01, 2002
T he Enron/Andersen saga has focused significant attention on document retention policies and advice provided by in-house counsel on the application of those policies. long time and have been upheld by courts in a variety of contexts
Crowell & Moring: New Federal Law Targets Corporate Misconduct Mar 01, 2002
Whether the recent passage of expansive federal legislation aimed at stamping out financial fraud will prove to be an overreaction to the so-called "corporate crime wave" remains to be seen. What is clear is that most provisions of the new law, many of which would have been highly controversial in a different environment but were enacted with little debate or serious dissension, will have a dramatic impact on corporate America and cannot be ignored
Shearman & Sterling: Cartel Busters Unite: New Developments in Criminalisati... Mar 01, 2002
Cartel busters unite: new developments in criminalisation of cartel activities. This attitude is not confined to North America, where both the US and Canada now are vigorous in their pursuit of individuals and companies for cartel violations as criminal wrongdoings
Lowenstein Sandler: "Conducting Internal Corporate Investigations"... Feb 25, 2002
In addition, it is important to recognize that even when handled properly, the results of the investigation may well have to be disclosed. In-house counsel are often called on to conduct internal corporate investigations
Akin Gump: Reviewing Materiality in Accounting Fraud Jan 15, 2002
As published in the January 15, 2002, edition of. In his speech, Chairman Levitt criticized what he described as a "game of nods and winks" practiced by managers, auditors, and analysts who operate in a "gray area where the accounting is being perverted." The result of this "game," according to Chairman Levitt, was an environment where "integrity in financial reporting is under stress" and, in some instances, "earnings reports reflect the desires of management rather than the underlying
Miller Canfield: Hot Points Winter 2002 Jan 01, 2002
Officer Certifications CEOs and CFOs must individually certify certain reports filed with the SEC declaring that they have reviewed the report; that the report is materially correct and complete; that financial statements and other financial information contained within fairly represent all material respects of the company's financial condition. General Reporting Companies are required to disclose whether they have a code of ethics for senior financial officers, as well as any material changes
Hogan & Hartson: "Spoliation by Oversight." Nov 12, 2001
Spoliation by Oversight The National Law Journal Spoliation by Oversight The National Law Journal, November 12, 2001 By Michael Starr and Jordan Lippner The issue of spoliation-the culpable destruction or alteration of evidence-has particular resonance in the field of employment discrimination law, where the law not only bans certain acts but affirmatively requires employers to maintain the evidence of possible wrongdoing. All litigants are subject to the general rule that "the destruction or
White & Case: Federal Investigations ? Corporate Compliance Oct 08, 2001
FTER the horrific events of Sept. 11, many individuals and businesses have come together to donate millions of dollars and untold hours in the relief effort. nesses, search warrants, witness interviews and, in a few cases, arrests of material witnesses
Paul Weiss: Second Circuit Review: Enhance Husband's Sentence ... Jun 27, 2001
In this month's column, we discuss a controversial sentencing decision recently issued by the United States Court of Appeals for the Second Circuit addressing whether a convicted defendant's sentence can be enhanced because a third party -- specifically, defendant's wife -- declines to forfeit property held in her name that the court found was purchased using the proceeds of defendant's crimes. The `Patrick Bennett' Case In U.S. v. Patrick Bennett,1 the Second Circuit, in an opinion written by
Stroock: IPO Investigation Alert Jun 01, 2001
SEC and Grand Jury Investigations Focus on Distribution of Hot Issues Several weeks ago, following a spate of articles in December 2000/January 2001, there were a number of articles in The New York Times and The Wall Street Journal about joint criminal/SEC investigations in New York concerning how Wall Street investment banks have distributed shares of hot IPO issues, particularly technology stocks. The focus has been on investors who both received significant shares of the IPO's and paid large
Akin Gump: Recent Activity by the Sentencing Commission May 01, 2001
Over the past several months, in a burst of activity, the United States Sentencing Commission has issued an outpouring of amendments and proposed amendments to the sentencing guidelines. These new provisions have come on the heels of a lengthy period of inactivity during which the commission was hamstrung, without a quorum, because of unfilled vacancies in its membership
Morgan Lewis: Ethical Considerations When Representing Non-Profit and... Apr 26, 2001
Ethical Considerations When Representing Non-Profit And Tax-Exempt Organizations. Table of Contents Page INTRODUCTION
Lowenstein Sandler: "Ten Cardinal Rules for Protecting Individual Corp... Apr 01, 2001
April, 2001 Ethical rules make it clear that in-house counsel represent the organization rather than any individual corporate director, officer, or employee. Notwithstanding that fact, in-house counsel often encounter situations in which the best interests of both the corporation and particular corporate employees are served by attempting to protect those individuals from personal criminal or civil liabilities
Morgan Lewis: Compliance Programmes and Good Corporate Governance Jan 01, 2001
Julian Joshua, the former Deputy Head of the European Commission's Cartel Unit, is a partner in the Brussels office of Morgan, Lewis us LLP.. Most antitrust cases in the United States now arise out of the Leniency program
Ober Kaler: Search Warrant Action Plan Dec 01, 2000
Hale Dorr: Government Investigations and Litigation Bulletin - Aug 01, 2000
Paul Weiss: Prosecuting Corporations: Applying the New Department ... Jul 10, 2000
PROSECUTING CORPORATIONS: APPLYING THE NEW DEPARTMENT OF JUSTICE GUIDELINES. PAUL, VVEISS, RIFKIND, VVHARTON SON In June 1999, after considerable internal discussion, the Criminal Division of the United States Department of Justice (DOJ) announced that it had formulated a set of Principles of Federal Prosecution of Corporations (Principles)
Greenebaum Doll & McDonald: Summer 2000 Jul 01, 2000
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION KEVIN GHASSOMIAN NAMED ONE OF CINCINNATI'S FORTY UNDER 40 CINCINNATI, Oh. Forty Under 40 is a special publication compiled by the Business Courier to recognize forty up and coming individuals under 40 years of age who make contributions to volunteer efforts and other organizations that benefit the community
Akin Gump: Can Employees Still Sue for Racketeering? Jun 01, 2000
Reprinted from the June issue of The Metropolitan Corporate Counsel Can Employees Still Sue for Racketeering. 2 Many of those cases alleged RICO conspiracies that led to the employee's termination
Hale Dorr: Globalization and the Long Arm of the U.S. Law - Apr 01, 2000
Paul Weiss: Second Circuit Review: Sixth Amendment Right to Counsel Mar 22, 2000
PAUL, VVEISS, RIFKIND, VVHARTON SON In this month's column, we discuss two recent decisions in which the U.S. Court of Appeals for the Second Circuit affirmed the trial courts' imposition of certain limited restrictions on defendants' access to information known to their attorneys. In the circumstances of both cases, the Second Circuit held that the lower court rulings were necessary to preserve the integrity of the judicial process and did not violate defendants' Sixth Amendment right to
Bell: When Government Agents Come Calling: How to Handl... Oct 01, 1999
Corpcounsel Report is the newsletter of the Corporate Counseling Committee, ABA Section of Antitrust Law. Steven M. Kowal, a member at Bell, Boyd & Lloyd LLC, concentrates in the defense of white collar criminal cases and complex civil litigation
Bell: When Government Agents Come Calling: How to Handl... Oct 01, 1999
Corpcounsel Report is the newsletter of the Corporate Counseling Committee, ABA Section of Antitrust Law. Steven M. Kowal, a member at Bell, Boyd & Lloyd LLC, concentrates in the defense of white collar criminal cases and complex civil litigation
Morgan Lewis: Defending Yourself While Defending Your Client: Avoidin... Sep 01, 1998
Heller Ehrman: Retaining Business Records Aug 20, 1998
In the wake of sweeping federal securities legislation and highly publicized prosecutions for corporate mismanagement and fraud, there is a growing awareness of risks associated with the retention and destruction of corporate documents, including email correspondence. This memorandum briefly summarizes the background of these changes, and provides interim guidance for corporate document retention policies
Cohen & Wolf: Preparing Your Client's Testimony. Aug 17, 1998
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Cohen and Wolf launches new firm web site Cohen and Wolf supports the Levitt Pavilion Summer Benefit Gala Cohen and Wolf sponsors evening of fireworks at the Bridgeport Bluefish Ballpark more news Home Page_News Disclaimer | Contact Us. 2004 Cohen and Wolf, P.C. All rights reserved
Weil: Additional Recent Decisions Of Note Aug 01, 1998
Div. 1st Dep't Oct. 2, 1997) Supreme Court of the State of New York, Appellate Division, First Department, holds that a Delaware corporation, D.F. King & Co., cannot be required under New York law, "over its objection, to provide interim indemnification" to an employee alleged to have improperly obtained information concerning Bear, Stearns & Co. customers during the term of his employment at D.F. King. The court acknowledged the authority under New York law of "a court to grant indemnification
Jones Day: In-House Counsel Dealing With Office E-mail (originally... Apr 30, 1998
In Print Reprints of articles written by or about Jones Day lawyers. In-House Counsel Dealing With Office E-mail
Pillsbury Winthrop: Current Issues In Trade Secret Law: The New U.S. Econom... Jan 01, 1997
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Crowell: An Emergency Guide to Federal Search Warrants Nov 01, 1995
They usually involve surprise, the use or potential use of force and the unavailability of defense attorneys knowledgeable about the rights of companies and individuals confronted with immediate demands. The following is offered as a guide for lawyers who may find themselves confronted with "a legal emergency." I. THE LAW. A federal search warrant must be issued by a federal judge or magistrate or state judge, within the federal district where the property or person is or is expected to be
Sedgwick: Health Care Fraud and Abuse - The Heat Is On Jan 31, 1995
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June 28
It has been reported that on June 20, 2002, the SEC voted to propose rules that would change oversight and strengthen accountability of auditors of public companies. The proposed rules establish a system of "private sector" regulation that will be under the control of an independent Public Accountability Board
Employment & Labor Law Alert - August 28
Although many portions of the Sarbanes-Oxley Act are specific to publicly traded companies, certain provisions of the Act are relevant to both publicly traded and privately held companies, and all employers will want to familiarize themselves with these provisions. The Act has amended existing criminal laws regarding retaliation, document destruction and falsification, and tampering with documents related to official proceedings
Pros and Cons of an Internal Investigation
Ms. Thiel acknowledges the assistance of the Morgan Lewis Corporate Investigations and Criminal Defense Group in the preparation of this article. Although ignorance is bliss, the healthcare industry has learned through hundreds of investigations and millions of dollars in penalties that it cannot afford willful ignorance
With Two Strikes
...the last of which occurred within ten years. after the commission of a prior act of racketeering activity," 18 U.S.C. º 1961(5). Any person injured in his business or property by a RICO violation may bring a civil action for treble damages and attorneys' fees. 18 U.S.C. º 1964(c). RICO does not contain any express limitations period for civil claims. In Agency Holding Corp. v. Malley-Duff iates, Inc., 483 U.S. 143 (1987), the Supreme Court established a four-year limitations period, but did not
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SEC Adopts Final Rules In Advance Of January 26
The Sarbanes-Oxley Act of 2002 (the "Act") of 2002 required the U. S. Securities and Exchange Commission ("SEC") to enact a host of rules and regulations by January 26, 2003. The following chart contains a brief summary of the final rules and regulations adopted by the SEC in satisfaction of those requirements and their effective dates
"Dealing with the Whistleblower/Informer
The conscience-driven whistleblower, typically in a unique position to know, is viewed as coming forward to protect society, as in the cases of FBI Special Agent Coleen Rowley, who reported on laxity in terrorism enforcement,2 and Jeffrey Wigand, who disclosed big tobacco's conspiracy of cover-up3: no hidden motives. That purist brand of whistleblower surely deserves every protection society can offer: protection against physical retaliation4 and against retaliation in employment
Hard Time with Hard Drives by David Axelrod
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Saturday, October 9, 2004 By David F. Axelrod, James E. Phillips, Kevin R. Conners Computers have rapidly become the dominant form of record creation and a leading form of record retention. The storage of documents electronically creates new and difficult issues for litigators
Hard Time with Hard Drives by David Axelrod
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Saturday, October 9, 2004 By David F. Axelrod, James E. Phillips, Kevin R. Conners Computers have rapidly become the dominant form of record creation and a leading form of record retention. The storage of documents electronically creates new and difficult issues for litigators
Employment and Labor Newsletter
Employment and Labor Newsletter
Franchisors and the Emergence of Large
Bell, Boyd & Lloyd - Franchisors and the Emergence of Multiunit Franchisees LAW RESOURCE SERIES First published in the Franchise Law Journal, Volume 18, Number 4, Spring 1999. This information or any portion thereof may not be copied or disseminated in any form or by any means or downloaded or stored in an electronic database or retrieval system without the express written consent of the American Bar Association
Franchisors and the Emergence of Large
Bell, Boyd & Lloyd - Franchisors and the Emergence of Multiunit Franchisees LAW RESOURCE SERIES First published in the Franchise Law Journal, Volume 18, Number 4, Spring 1999. This information or any portion thereof may not be copied or disseminated in any form or by any means or downloaded or stored in an electronic database or retrieval system without the express written consent of the American Bar Association
10-01-02: Employment
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: Public Finance Bondletter
Lawyer Goes to Jail in Yield-Burning Case TBB (April 15) reports that Patrick H. McCarthy 3d, 55, formerly of Wolf, Block, Schorr and Solis-Cohen, Philadelphia, who pled guilty in January to one federal count of obstruction of justice in connection with his destruction and concealment of documents in response to a Securities and Exchange Commission subpoena, and misleading testimony before the SEC, has been sentenced to three months in prison and fined $20,000. McCarthy because "cooperated
Akin Gump: Recent Activity by the Sentencing Commission
Mr. Zabel also litigated New York Yankees v. Mariano Rivera, which at the time was the largest-dollar-amount baseball arbitration in the history of Major League Baseball. Before joining Akin Gump, Mr. Zabel served for eight years as a federal prosecutor in the U.S. Attorney’s Office for the Southern District of New York
Akin Gump: New Criminal Penalties for Unlawful Document Destructio...
NEW CRIMINAL PENALTIES FOR UNLAWFUL DOCUMENT DESTRUCTION Earlier this year, allegations of improper document destruction led to the indictment and eventual conviction of Arthur Andersen, for many years one of the nation's largest and most respected accounting firms. The Sarbanes-Oxley Act, signed into law on July 30, 2002, creates two entirely new criminal statutes regarding document destruction - Sections 1519 and 1520 of the federal Criminal Code - and expands the scope of a pre-existing
Akin Gump: Areas Reportedly Under Investigation in the Government ...
Akin Gump Health Industry Alert Health Industry Alert December 17, 1997 Areas Reportedly Under Investigation in the Government Probe of Columbia/HCA Health Care Corporation As you are undoubtedly aware, the federal government and a growing number of states are conducting wide ranging investigations into whether Columbia/HCA Healthcare Corporation and its officials have violated healthcare anti-fraud and abuse laws. These investigations have already resulted in three criminal indictments of
Akin Gump: The United Nations Convention Against Corruption
Countries at all levels of economic development and in all regions of the world, such as China, Iran, Haiti and those of the European Union, signed the Convention during the conference, demonstrating broad-based international determination to end corruption. Although the full effect of the UN Convention will not be felt for several years, business organizations operating internationally should be aware of its scope in order to anticipate and prepare for potential changes in the legal landscape
Arnold & Porter: Sarbanes-Oxley Act of 2002 - General
Arnold Porter: The New Sarbanes-Oxley Act (PDF: 1.17 MB)
The Act broadly impacts the way public companies, officers, directors, audit committees, auditors and even counsel act, and imposes significant new responsibilities, liabilities and risks on each of these parties. The Act mandates important new corporate governance and financial reporting requirements intended to enhance the accuracy and transparency of public companies' reported financial results
Blank Rome: Criminal Enforcement in the Marine Industry: The Latest...
Criminal Enforcement in the Marine Industry: The Latest Trends Search: Advanced Search Criminal Enforcement in the Marine Industry: The Latest Trends by Jeanne M. Grasso and Allison L. Fennell Originally Published In: THE NEW YORK LAW JOURNAL May 31, 2002 -- The Lay of the Land - or Sea In the past several years, federal prosecutors increasingly have devoted time and resources to pursuing vessel owners, operators, crewmembers, and shoreside employees who are involved in illegal discharges at
Blank Rome: Criminal Environmental Prosecutions and the Maritime In...
URING the 1990s, the United States' use of criminal penalties to enforce environmental laws, particularly as related to the maritime industry, was viewed by the rest of the world as heavy handed and unnecessary. The historical inclination of regulatory authorities to emphasise compliance over punishment is changing and punishment is increasingly taking a greater role in environmental enforcement
Bricker & Eckler: Acredula - March/April 2003
...n light of Congress' and investors' views that excessive use of stock options and similar equity-based compensation has created incentives to manipulate stock prices, the time has come for boards and executives to review their compensation plans. has also come to review funding of compensation plans,especiallythoseproviding retirement and deferred compensation, in light of the losses suffered as a result of creditors' claims and bankruptcies
Brown McCarroll: Compliance Programs
The differences that arise occur as Call Centers begin the task of "doing business." Legal issues begin to emerge that were only academic considerations in the organizational stage. Managers of Call Centers are naturally more focused on the day-to-day operation of the network than remembering the original guidance given by legal counsel in the formative stages
Gardner Carton: What Does it Mean if Your Company Receives A Federal Gr...
By Jennifer Wilson We are all familiar with the high profile investigations, such as the SEC and Department of Justice investigations surrounding the Enron collapse. These actions, however, are just the tip of the iceberg of white-collar criminal investigations
Gray Cary: Five Tenets of a Written Document Retention Policy
In the wake of recent corporate scandals and criminal prosecutions, a well thought out document retention policy has never been more significant to an effective corporate compliance program. The authors suggest that such policies should proceed from the perspective of what documents should be retained rather than those that should be destroyed
Gray Cary: Criminal Cases Heighten Need for Document Retention Pol...
Gray Cary e-Alert May 19, 2004 Criminal Cases Heighten Need for Document Retention Policies By Diane Holt Frankle and David Priebe Two recent criminal matters the obstruction of justice conviction of a leading investment banker, and an indictment alleging violation of a provision of the Sarbanes-Oxley Act forbidding document destruction highlight the importance of document retention policies and practices for corporations, particularly after a corporation becomes aware of a government
Hinshaw & Culbertson: Corporate Counsel Attorneys Who Represent Companies Fac...
Hinshaw rtson | Resource Center | Corporate Counsel Attorneys Who Represent Companies Face Higher Possibility of Liability to Non-Clients function HideMe(strwho) { var objLayer; if (document. src = "/img/logo_print.gif"; Corporate Counsel Attorneys Who Represent Companies Face Higher Possibility of Liability to Non-ClientsMarch 26, 2003Lawyers who represent large corporations are with increasing frequency targets in the cross-hairs of nonclients who are seeking to shift the blame for financial
Miller Canfield: Hot Points Summer 2004
Recent high-profile prosecutions have brought attention to the issue of lawyer-client and work-product privileges. 5 strategies for of a
Quinn Emanuel: Federal Inter-Agency SWAT Team Forms to Pursue Cor...
Corporate Fraud Task Force Headlines Firm News Articles Recent Victories Newsletters Federal Inter-Agency SWAT Team Forms to Pursue Corporate Wrongdoing On Friday, July 12, 2002, President Bush participated in the first meeting of the new inter-agency Corporate Fraud Task Force. The task force is chaired by the Deputy Attorney General and includes, among others, the Chairman of the SEC, the Director of the FBI, and the chief federal prosecutors for Manhattan and Los Angeles
Quinn Emanuel: Electronic Discovery - Taming the Monster
Federal Rule of Civil Procedure 34(a) allows a litigant to ask the other side to produce "data compilations from which information can be obtained, translated, if necessary, by the respondent through detection devices into reasonably usable form." Translated into plain English: a company's e-mail records and its electronic data systems are fair game for discovery. But discovery of electronic data can be hideously expensive—a fact some courts have now recognized in limiting it
Stroock: U.S. Sentencing Commission: Proposed Amendment to the S...
Notice of Proposed Temporary, emergency amendments - BAC2210-40/2211-01 (Nov 27, 2002) BAC2210-40/2211-01 UNITED STATES SENTENCING COMMISSION Sentencing Guidelines for United States Courts AGENCY: United States Sentencing Commission ACTION: Notice of proposed temporary, emergency amendments to sentencing guidelines, policy statements, and commentary. Notice of intent to repromulgate temporary, emergency amendments as permanent, non-emergency amendments
Stroock: SEC Issues Rules for Arthur Andersen LLP Audit Clients
In response to the March 14, 2002 indictment of Arthur Andersen LLP ("Andersen") on obstruction of justice charges, the Securities and Exchange Commission (the "SEC") has issued temporary final rules and final rules (collectively, the "Rules") to "assure a continuing and orderly flow of information to investors and the U.S. capital markets," and to provide clients of Andersen "time to address any timing constraints and temporary disruptions they may face" in connection with their audited
Stroock: "Second Bite at the Apple: Successive and Concurre...
In other words: One investigation; one prosecution office; one indictment. Isn't it still so under the Double Jeopardy Clause of the U.S. Constitution
Ulmer & Berne: The Sarbanes-Oxley Act - It's Not Just About Accou...
The employment-related provisions fall into the categories of (i) whistleblower protections, (ii) criminal penalties for retaliatory actions related to law enforcement, (iii) employee complaint procedures, (iv) obstruction of justice provisions and (v) ERISA-related provisions, as described below. A. Whistleblower Protections Section 806 of the act provides protection to employees of public companies when they act lawfully to disclose information about fraudulent activities within their company
Ulmer & Berne: False Statements to OSHA Can Send You to Prison
However, several managers of a construction company working on a project outside of Cincinnati apparently didn't understand that and, as a result, have recently pled guilty to federal criminal charges and are now facing imprisonment and substantial fines. LeMaster Steel Erectors of Elkhart, Indiana was building an addition onto an office complex in Mason, Ohio when one of its employees, involved in the installation of roof decking, fell 25 feet from an unprotected area onto a concrete foundation
Vinson Elkins: Provisions of Sarbanes-Oxley Affecting Non-Public Compa...
Vinson Elkins: Part 1 -Sarbanes-Oxley Act Summary
Winston Strawn: EPA Laboratory Misconduct May Affect Pending Enforcemen...
Pros and Cons of an Internal Investigation
Ms. Thiel acknowledges the assistance of the Morgan Lewis Corporate Investigations and Criminal Defense Group in the preparation of this article. Although ignorance is bliss, the healthcare industry has learned through hundreds of investigations and millions of dollars in penalties that it cannot afford willful ignorance
With Two Strikes
...the last of which occurred within ten years. after the commission of a prior act of racketeering activity," 18 U.S.C. º 1961(5). Any person injured in his business or property by a RICO violation may bring a civil action for treble damages and attorneys' fees. 18 U.S.C. º 1964(c). RICO does not contain any express limitations period for civil claims. In Agency Holding Corp. v. Malley-Duff iates, Inc., 483 U.S. 143 (1987), the Supreme Court established a four-year limitations period, but did not
SEC Adopts Final Rules In Advance Of January 26
The Sarbanes-Oxley Act of 2002 (the "Act") of 2002 required the U. S. Securities and Exchange Commission ("SEC") to enact a host of rules and regulations by January 26, 2003. The following chart contains a brief summary of the final rules and regulations adopted by the SEC in satisfaction of those requirements and their effective dates
"Dealing with the Whistleblower/Informer
The conscience-driven whistleblower, typically in a unique position to know, is viewed as coming forward to protect society, as in the cases of FBI Special Agent Coleen Rowley, who reported on laxity in terrorism enforcement,2 and Jeffrey Wigand, who disclosed big tobacco's conspiracy of cover-up3: no hidden motives. That purist brand of whistleblower surely deserves every protection society can offer: protection against physical retaliation4 and against retaliation in employment
Hard Time with Hard Drives by David Axelrod
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Thursday, December 23, 2004 By David F. Axelrod, James E. Phillips, Kevin R. Conners Computers have rapidly become the dominant form of record creation and a leading form of record retention. The storage of documents electronically creates new and difficult issues for litigators
Hard Time with Hard Drives by David Axelrod
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Thursday, December 23, 2004 By David F. Axelrod, James E. Phillips, Kevin R. Conners Computers have rapidly become the dominant form of record creation and a leading form of record retention. The storage of documents electronically creates new and difficult issues for litigators
Implementing An Issues Management Strategy
This article originally appeared in the 1998 edition of the 65 Defense Counsel Journal. It is vitally important to the proper development of a product to encourage an open exchange of ideas to be sure that the product is developed within proper protocols, and then to document these facts and the reasons design decisions were made
Insolvency: The Directors' Refrain
Bankruptcy lawyers around the country, an innovative crowd to say the least, recently have discovered a new cottage industry: suing directors of failed companies. The board of directors tries to arrange a merger, a sale, or an injection of urgently needed funding
August 7
United States Sarbanes-Oxley Act of 2002. THE UNITED STATES SARBANES-OXLEY ACT OF 2002 Sweeping Changes to Corporate Governance and the Accounting Industry
Bulletin 01-A
United States General Accounting Office. APHIS APPS CMC ECP EPA FBI IMO ISM ISP MARAD Animal, Plant, and Health Inspection Service Act to Prevent Pollution from Ships Center for Marine Conservation environmental compliance plan Environmental Protection Agency Federal Bureau of Investigation International Maritime Organization International Safety Management International Shipping Partners Maritime Administration
Bulletin 01-A
United States General Accounting Office. APHIS APPS CMC ECP EPA FBI IMO ISM ISP MARAD Animal, Plant, and Health Inspection Service Act to Prevent Pollution from Ships Center for Marine Conservation environmental compliance plan Environmental Protection Agency Federal Bureau of Investigation International Maritime Organization International Safety Management International Shipping Partners Maritime Administration
10-01-02: Employment
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: Public Finance Bondletter
Lawyer Goes to Jail in Yield-Burning Case TBB (April 15) reports that Patrick H. McCarthy 3d, 55, formerly of Wolf, Block, Schorr and Solis-Cohen, Philadelphia, who pled guilty in January to one federal count of obstruction of justice in connection with his destruction and concealment of documents in response to a Securities and Exchange Commission subpoena, and misleading testimony before the SEC, has been sentenced to three months in prison and fined $20,000. McCarthy because "cooperated
Akin Gump: New Criminal Penalties for Unlawful Document Destructio...
NEW CRIMINAL PENALTIES FOR UNLAWFUL DOCUMENT DESTRUCTION Earlier this year, allegations of improper document destruction led to the indictment and eventual conviction of Arthur Andersen, for many years one of the nation's largest and most respected accounting firms. The Sarbanes-Oxley Act, signed into law on July 30, 2002, creates two entirely new criminal statutes regarding document destruction - Sections 1519 and 1520 of the federal Criminal Code - and expands the scope of a pre-existing
Akin Gump: Areas Reportedly Under Investigation in the Government ...
Akin Gump Health Industry Alert Health Industry Alert December 17, 1997 Areas Reportedly Under Investigation in the Government Probe of Columbia/HCA Health Care Corporation As you are undoubtedly aware, the federal government and a growing number of states are conducting wide ranging investigations into whether Columbia/HCA Healthcare Corporation and its officials have violated healthcare anti-fraud and abuse laws. These investigations have already resulted in three criminal indictments of
Akin Gump: The United Nations Convention Against Corruption
Countries at all levels of economic development and in all regions of the world, such as China, Iran, Haiti and those of the European Union, signed the Convention during the conference, demonstrating broad-based international determination to end corruption. Although the full effect of the UN Convention will not be felt for several years, business organizations operating internationally should be aware of its scope in order to anticipate and prepare for potential changes in the legal landscape
Akin Gump: Congressional Approval of Major Corporate Accounting an...
CONGRESSIONALAPPROVAL OF MAJOR CORPORATE ACCOUNTING AND GOVERNANCE REFORM LEGISLATION SARBANES-OXLEYACT OF 2002 On July 30, 2002, the President will sign into law the Sarbanes-Oxley Act of 2002. The bill, which was passed overwhelmingly on July 25, 2002, by both the U.S. House of Representatives and Senate, is an historic piece of legislation intended to protect investors by enhancing the accuracy, reliability and transparency of corporate disclosures made pursuant to the securities laws and by
Arnold Porter: The New Sarbanes-Oxley Act (PDF: 1.17 MB)
The Act broadly impacts the way public companies, officers, directors, audit committees, auditors and even counsel act, and imposes significant new responsibilities, liabilities and risks on each of these parties. The Act mandates important new corporate governance and financial reporting requirements intended to enhance the accuracy and transparency of public companies' reported financial results
Baker & McKenzie: Law Alert1 Sarbanes Oxley Act Overview
THE SARBANES-OXLEY ACT OF 2002. Sweeping Changes to Corporate Governance and the Accounting Industry On July 25, 2002, both the U.S. House of Representatives and the U.S. Senate overwhelming passed H.R. 3763, known as the "Sarbanes-Oxley Act of 2002" (the "Act")
Blank Rome: What Can Seafarers Learn from Martha Stewart? Lessons f...
Lessons from the Staten Island Ferry and Other Recent Incidents by Jane F. Barrett and Allison L. Fennell Originally Published In: THE NEW YORK LAW JOURNAL May 31, 2002 -- The prosecution of Martha Stewart for obstruction of justice and making false statements to federal investigators sent a strong message to the public about lying to government investigators: Do so at your own peril. By now, it is common knowledge that Stewart was charged with and convicted of five counts of obstruction of
Blank Rome: Criminal Environmental Prosecutions and the Maritime In...
URING the 1990s, the United States' use of criminal penalties to enforce environmental laws, particularly as related to the maritime industry, was viewed by the rest of the world as heavy handed and unnecessary. The historical inclination of regulatory authorities to emphasise compliance over punishment is changing and punishment is increasingly taking a greater role in environmental enforcement
Bricker & Eckler: Acredula - March/April 2003
...n light of Congress' and investors' views that excessive use of stock options and similar equity-based compensation has created incentives to manipulate stock prices, the time has come for boards and executives to review their compensation plans. has also come to review funding of compensation plans,especiallythoseproviding retirement and deferred compensation, in light of the losses suffered as a result of creditors' claims and bankruptcies
Clifford Chance: Antitrust Review - September 2002
Clifford Chance: Antitrust Review - November 2003
Cooley Godward: The Sarbanes-Oxley Act of 2002
Aimed at restoring investor trust and confidence in the public markets, the Act seeks to prevent future acts of corporate and accounting fraud through a variety of oversight and deterrence measures and to address perceived inequities arising out of the recent Enron and WorldCom scandals. The Act also increases SEC appropriations by $776 million to provide enhanced oversight and enforcement of securities laws
Covington & Burling: The Asbestos Litigation Crisis: Who Will Clean Up this ...
Enter a keyword(s): Many of the downloadable files on this site require Adobe Acrobat Reader. Click here to visit the Supporting Our Mission page A Letter to Our Supporters GOALS: Protect stock markets from manipulation Protect employees, consumers, pensioners and investors from stock losses caused by abusive litigation Encourage regulatory oversight of plaintiffs' bar within securities industry Restore investor confidence through judicial and regulatory reform Click Here to go to the Investor
Epstein Becker & Green: PDF
...ournal of Health Care Compliance. n response to a variety of events and governmental initiatives, many health care organizations adopted corporate compliance programs in the 1990s
Gardner Carton: What Does it Mean if Your Company Receives A Federal Gr...
By Jennifer Wilson We are all familiar with the high profile investigations, such as the SEC and Department of Justice investigations surrounding the Enron collapse. These actions, however, are just the tip of the iceberg of white-collar criminal investigations
Gardner Carton: Enforcing President Bush''s Call for A New Et...
Enforcing President Bush's Call for "A New Ethic of Corporate Responsibility": Increased SEC Powers and New Civil and Criminal Penalties for Securities Fraud The Sarbanes-Oxley Act of 2002. By Peter J. Meyer The mid and late 1990s produced comprehensive legislation, most notably, the Private Securities Litigation Reform Act of 1995, to curb the proliferation of frivolous securities class action suits against public companies, and their officers and directors
Gray Cary: Criminal Cases Heighten Need for Document Retention Pol...
Gray Cary e-Alert May 19, 2004 Criminal Cases Heighten Need for Document Retention Policies By Diane Holt Frankle and David Priebe Two recent criminal matters the obstruction of justice conviction of a leading investment banker, and an indictment alleging violation of a provision of the Sarbanes-Oxley Act forbidding document destruction highlight the importance of document retention policies and practices for corporations, particularly after a corporation becomes aware of a government
King & Spalding: How to Keep the Other Shoe from Dropping: The Interrela...
...xnt Version | Search | Site Map | Disclaimer Our Firm Practices Attorneys Recruiting Diversity Training Library Community Service Contact Us Kcles Search Internet Resources How to Keep the Other Shoe from Dropping: The Interrelationship of Civil RICO and Criminal Proceedings By: Larry D. Thompson Reprinted with permission from the Georgia State Bar Journal, Vol. 30, No.4 THE DILEMMA: TO PARTICIPATE IN DISCOVERY OR NOT. "[R]acketeering activity," as expressly defined by the federal RICO statute,1
King & Spalding: How to Keep the Other Shoe from Dropping: The Interrela...
"[R]acketeering activity," as expressly defined by the federal RICO statute,1 encompasses numerous specific criminal offenses. There are four categories of "predicate acts" set forth under RICO, the commission of which may trigger civil liability: crimes of violence (murder, kidnapping, arson, robbery, extortion and obstruction of justice); crimes involving illicit goods and services (gambling, pornography, narcotics, counterfeiting, theft and trafficking in restricted goods); crimes involving
Morris: Sarbanes-Oxley Act of 2002
Because different aspects of this legislation become effective at different times and some aspects are subject to further SEC rule making, the first section is a Timeline and Action Item Summary. This section provides a chronologically-organized list of when the various provisions become effective together with suggested actions to be taken for compliance with the Act
Quinn Emanuel: Federal Inter-Agency SWAT Team Forms to Pursue Cor...
Corporate Fraud Task Force Headlines Firm News Articles Recent Victories Newsletters Federal Inter-Agency SWAT Team Forms to Pursue Corporate Wrongdoing On Friday, July 12, 2002, President Bush participated in the first meeting of the new inter-agency Corporate Fraud Task Force. The task force is chaired by the Deputy Attorney General and includes, among others, the Chairman of the SEC, the Director of the FBI, and the chief federal prosecutors for Manhattan and Los Angeles
Quinn Emanuel: Electronic Discovery - Taming the Monster
Federal Rule of Civil Procedure 34(a) allows a litigant to ask the other side to produce "data compilations from which information can be obtained, translated, if necessary, by the respondent through detection devices into reasonably usable form." Translated into plain English: a company's e-mail records and its electronic data systems are fair game for discovery. But discovery of electronic data can be hideously expensive—a fact some courts have now recognized in limiting it
Quinn Emanuel: Developments in Corporate Governance Reform
The WCCPEA includes tough criminal penalties for senior executives of companies found to have committed accounting fraud or to have failed to "fairly present" the company's financial condition in reports filed with the SEC. The WCCPEA requires CEOs and CFOs to certify corporate financial statements and imposes criminal penalties for noncompliance. The mid 1980s uproar related to charges that federal government defense contractors were intentionally including unallowable costs in proposals for
Sidley Austin: Sarbanes-Oxley Act of 2002 - General
SARBANES-OXLEY ACT OF 2002. On July 25, 2002, the U.S. Senate and the U.S. House of Representatives each passed, by overwhelming majorities, the Sarbanes-Oxley Act of 2002, sweeping new legislation with the stated purpose of protecting investors by improving the accuracy and reliability of corporate disclosures made pursuant to the Federal securities laws
Stroock: U.S. Sentencing Commission: Proposed Amendment to the S...
Notice of Proposed Temporary, emergency amendments - BAC2210-40/2211-01 (Nov 27, 2002) BAC2210-40/2211-01 UNITED STATES SENTENCING COMMISSION Sentencing Guidelines for United States Courts AGENCY: United States Sentencing Commission ACTION: Notice of proposed temporary, emergency amendments to sentencing guidelines, policy statements, and commentary. Notice of intent to repromulgate temporary, emergency amendments as permanent, non-emergency amendments
Stroock: SEC Issues Rules for Arthur Andersen LLP Audit Clients
In response to the March 14, 2002 indictment of Arthur Andersen LLP ("Andersen") on obstruction of justice charges, the Securities and Exchange Commission (the "SEC") has issued temporary final rules and final rules (collectively, the "Rules") to "assure a continuing and orderly flow of information to investors and the U.S. capital markets," and to provide clients of Andersen "time to address any timing constraints and temporary disruptions they may face" in connection with their audited
Stroock: "Second Bite at the Apple: Successive and Concurre...
In other words: One investigation; one prosecution office; one indictment. Isn't it still so under the Double Jeopardy Clause of the U.S. Constitution
Stroock: The Sarbanes-Oxley Act
One Hundred Seventh Congress of the United States of America. AT THE SECOND SESSION Begun and held at the City of Washington on Wednesday, the twenty-third day of January, two thousand and two
Stroock: The Sarbanes-Oxley Act - House and Senate Conference Co...
107TH CONGRESS 2d Session " HOUSE OF REPRESENTATIVES ! REPORT 107610SARBANES-OXLEY ACT OF 2002JULY 24, 2002.--Ordered to be printedMr. OXLEY, from the committee of conference, submitted the following CONFERENCE REPORT [To accompany H.R. 3763] The committee of conference on the disagreeing votes of the two Houses on the amendment of the Senate to the bill (H.R. 3763), to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and
Vorys Sater: Crime Doesn't Pay -- But Counsel May by David F. A...
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Thursday, December 23, 2004 published in Criminal Justice (Fall 1993) and Corprate Counsel's Quarterly (January 1994). 2001 David F. Axelrod, W. Evan Price II, Justin A. Thornton Crime Doesn't Pay -- But Counsel May What every practitioner needs to know about criminal exposure in the everyday practice of law By David F. Axelrod, W. Evan Price II and Justin A. Thornton1 The federal government s increasing reliance on criminal
Winston Strawn: EPA Laboratory Misconduct May Affect Pending Enforcemen...
Pros and Cons of an Internal Investigation
Ms. Thiel acknowledges the assistance of the Morgan Lewis Corporate Investigations and Criminal Defense Group in the preparation of this article. Although ignorance is bliss, the healthcare industry has learned through hundreds of investigations and millions of dollars in penalties that it cannot afford willful ignorance
With Two Strikes
...the last of which occurred within ten years. after the commission of a prior act of racketeering activity," 18 U.S.C. º 1961(5). Any person injured in his business or property by a RICO violation may bring a civil action for treble damages and attorneys' fees. 18 U.S.C. º 1964(c). RICO does not contain any express limitations period for civil claims. In Agency Holding Corp. v. Malley-Duff iates, Inc., 483 U.S. 143 (1987), the Supreme Court established a four-year limitations period, but did not
SEC Adopts Final Rules In Advance Of January 26
The Sarbanes-Oxley Act of 2002 (the "Act") of 2002 required the U. S. Securities and Exchange Commission ("SEC") to enact a host of rules and regulations by January 26, 2003. The following chart contains a brief summary of the final rules and regulations adopted by the SEC in satisfaction of those requirements and their effective dates
"Dealing with the Whistleblower/Informer
The conscience-driven whistleblower, typically in a unique position to know, is viewed as coming forward to protect society, as in the cases of FBI Special Agent Coleen Rowley, who reported on laxity in terrorism enforcement,2 and Jeffrey Wigand, who disclosed big tobacco's conspiracy of cover-up3: no hidden motives. That purist brand of whistleblower surely deserves every protection society can offer: protection against physical retaliation4 and against retaliation in employment
Hard Time with Hard Drives by David Axelrod
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Tuesday, April 26, 2005 By David F. Axelrod, James E. Phillips, Kevin R. Conners Computers have rapidly become the dominant form of record creation and a leading form of record retention. The storage of documents electronically creates new and difficult issues for litigators
Hard Time with Hard Drives by David Axelrod
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Tuesday, April 26, 2005 By David F. Axelrod, James E. Phillips, Kevin R. Conners Computers have rapidly become the dominant form of record creation and a leading form of record retention. The storage of documents electronically creates new and difficult issues for litigators
Implementing An Issues Management Strategy
This article originally appeared in the 1998 edition of the 65 Defense Counsel Journal. It is vitally important to the proper development of a product to encourage an open exchange of ideas to be sure that the product is developed within proper protocols, and then to document these facts and the reasons design decisions were made
Insolvency: The Directors' Refrain
Bankruptcy lawyers around the country, an innovative crowd to say the least, recently have discovered a new cottage industry: suing directors of failed companies. The board of directors tries to arrange a merger, a sale, or an injection of urgently needed funding
August 7
United States Sarbanes-Oxley Act of 2002. THE UNITED STATES SARBANES-OXLEY ACT OF 2002 Sweeping Changes to Corporate Governance and the Accounting Industry
Bulletin 01-A
United States General Accounting Office. APHIS APPS CMC ECP EPA FBI IMO ISM ISP MARAD Animal, Plant, and Health Inspection Service Act to Prevent Pollution from Ships Center for Marine Conservation environmental compliance plan Environmental Protection Agency Federal Bureau of Investigation International Maritime Organization International Safety Management International Shipping Partners Maritime Administration
Bulletin 01-A
United States General Accounting Office. APHIS APPS CMC ECP EPA FBI IMO ISM ISP MARAD Animal, Plant, and Health Inspection Service Act to Prevent Pollution from Ships Center for Marine Conservation environmental compliance plan Environmental Protection Agency Federal Bureau of Investigation International Maritime Organization International Safety Management International Shipping Partners Maritime Administration
10-01-02: Employment
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: Public Finance Bondletter
Lawyer Goes to Jail in Yield-Burning Case TBB (April 15) reports that Patrick H. McCarthy 3d, 55, formerly of Wolf, Block, Schorr and Solis-Cohen, Philadelphia, who pled guilty in January to one federal count of obstruction of justice in connection with his destruction and concealment of documents in response to a Securities and Exchange Commission subpoena, and misleading testimony before the SEC, has been sentenced to three months in prison and fined $20,000. McCarthy because "cooperated
Akin Gump: New Criminal Penalties for Unlawful Document Destructio...
NEW CRIMINAL PENALTIES FOR UNLAWFUL DOCUMENT DESTRUCTION Earlier this year, allegations of improper document destruction led to the indictment and eventual conviction of Arthur Andersen, for many years one of the nation's largest and most respected accounting firms. The Sarbanes-Oxley Act, signed into law on July 30, 2002, creates two entirely new criminal statutes regarding document destruction - Sections 1519 and 1520 of the federal Criminal Code - and expands the scope of a pre-existing
Akin Gump: Areas Reportedly Under Investigation in the Government ...
Akin Gump Health Industry Alert Health Industry Alert December 17, 1997 Areas Reportedly Under Investigation in the Government Probe of Columbia/HCA Health Care Corporation As you are undoubtedly aware, the federal government and a growing number of states are conducting wide ranging investigations into whether Columbia/HCA Healthcare Corporation and its officials have violated healthcare anti-fraud and abuse laws. These investigations have already resulted in three criminal indictments of
Akin Gump: The United Nations Convention Against Corruption
Countries at all levels of economic development and in all regions of the world, such as China, Iran, Haiti and those of the European Union, signed the Convention during the conference, demonstrating broad-based international determination to end corruption. Although the full effect of the UN Convention will not be felt for several years, business organizations operating internationally should be aware of its scope in order to anticipate and prepare for potential changes in the legal landscape
Akin Gump: Congressional Approval of Major Corporate Accounting an...
CONGRESSIONALAPPROVAL OF MAJOR CORPORATE ACCOUNTING AND GOVERNANCE REFORM LEGISLATION SARBANES-OXLEYACT OF 2002 On July 30, 2002, the President will sign into law the Sarbanes-Oxley Act of 2002. The bill, which was passed overwhelmingly on July 25, 2002, by both the U.S. House of Representatives and Senate, is an historic piece of legislation intended to protect investors by enhancing the accuracy, reliability and transparency of corporate disclosures made pursuant to the securities laws and by
Arnold Porter: The New Sarbanes-Oxley Act (PDF: 1.17 MB)
The Act broadly impacts the way public companies, officers, directors, audit committees, auditors and even counsel act, and imposes significant new responsibilities, liabilities and risks on each of these parties. The Act mandates important new corporate governance and financial reporting requirements intended to enhance the accuracy and transparency of public companies' reported financial results
Baker & McKenzie: Law Alert1 Sarbanes Oxley Act Overview
THE SARBANES-OXLEY ACT OF 2002. Sweeping Changes to Corporate Governance and the Accounting Industry On July 25, 2002, both the U.S. House of Representatives and the U.S. Senate overwhelming passed H.R. 3763, known as the "Sarbanes-Oxley Act of 2002" (the "Act")
Blank Rome: What Can Seafarers Learn from Martha Stewart? Lessons f...
Lessons from the Staten Island Ferry and Other Recent Incidents by Jane F. Barrett and Allison L. Fennell Originally Published In: THE NEW YORK LAW JOURNAL May 31, 2002 -- The prosecution of Martha Stewart for obstruction of justice and making false statements to federal investigators sent a strong message to the public about lying to government investigators: Do so at your own peril. By now, it is common knowledge that Stewart was charged with and convicted of five counts of obstruction of
Blank Rome: Criminal Enforcement in the Marine Industry: The Latest...
Criminal Enforcement in the Marine Industry: The Latest Trends Search: Advanced Search Criminal Enforcement in the Marine Industry: The Latest Trends by Jeanne M. Grasso and Allison L. Fennell Originally Published In: THE NEW YORK LAW JOURNAL May 31, 2002 -- The Lay of the Land - or Sea In the past several years, federal prosecutors increasingly have devoted time and resources to pursuing vessel owners, operators, crewmembers, and shoreside employees who are involved in illegal discharges at
Blank Rome: Criminal Environmental Prosecutions and the Maritime In...
URING the 1990s, the United States' use of criminal penalties to enforce environmental laws, particularly as related to the maritime industry, was viewed by the rest of the world as heavy handed and unnecessary. The historical inclination of regulatory authorities to emphasise compliance over punishment is changing and punishment is increasingly taking a greater role in environmental enforcement
Bricker & Eckler: Acredula - March/April 2003
...n light of Congress' and investors' views that excessive use of stock options and similar equity-based compensation has created incentives to manipulate stock prices, the time has come for boards and executives to review their compensation plans. has also come to review funding of compensation plans,especiallythoseproviding retirement and deferred compensation, in light of the losses suffered as a result of creditors' claims and bankruptcies
Clifford Chance: Antitrust Review - September 2002
Clifford Chance: Antitrust Review - November 2003
Cooley Godward: The Sarbanes-Oxley Act of 2002
Aimed at restoring investor trust and confidence in the public markets, the Act seeks to prevent future acts of corporate and accounting fraud through a variety of oversight and deterrence measures and to address perceived inequities arising out of the recent Enron and WorldCom scandals. The Act also increases SEC appropriations by $776 million to provide enhanced oversight and enforcement of securities laws
Covington & Burling: The Asbestos Litigation Crisis: Who Will Clean Up this ...
Enter a keyword: Many of the downloadable files on this site require Adobe Acrobat Reader. Conversations With, Spring 2005, 6 pages Download a PDF of the Executive Summary Download a PDF of the Publication LATEST LITIGATION: Rapanos v. United States On April 4, 2005, WLF filed a brief in the U.S. Supreme Court, urging it to review (and ultimately overturn) an appeals court ruling that the Clean Water Act grants the federal government regulatory authority over isolated "wetlands" located more
Epstein Becker & Green: PDF
...ournal of Health Care Compliance. n response to a variety of events and governmental initiatives, many health care organizations adopted corporate compliance programs in the 1990s
Gardner Carton: What Does it Mean if Your Company Receives A Federal Gr...
By Jennifer Wilson We are all familiar with the high profile investigations, such as the SEC and Department of Justice investigations surrounding the Enron collapse. These actions, however, are just the tip of the iceberg of white-collar criminal investigations
Gardner Carton: Enforcing President Bush''s Call for A New Et...
Enforcing President Bush's Call for "A New Ethic of Corporate Responsibility": Increased SEC Powers and New Civil and Criminal Penalties for Securities Fraud The Sarbanes-Oxley Act of 2002. By Peter J. Meyer The mid and late 1990s produced comprehensive legislation, most notably, the Private Securities Litigation Reform Act of 1995, to curb the proliferation of frivolous securities class action suits against public companies, and their officers and directors
Gray Cary: Criminal Cases Heighten Need for Document Retention Pol...
...writeln('\'This will scan for plugins for all versions of Internet Explorer that have a VBscript engine version 2 or greater. writeln('\'This includes all versions of IE4 and beyond and some versions of IE 3
King & Spalding: How to Keep the Other Shoe from Dropping: The Interrela...
...xnt Version | Search | Site Map | Disclaimer Our Firm Practices Attorneys Recruiting Diversity Professional Development Library Community Service Contact Us Kcles Search Internet Resources How to Keep the Other Shoe from Dropping: The Interrelationship of Civil RICO and Criminal Proceedings By: Larry D. Thompson Reprinted with permission from the Georgia State Bar Journal, Vol. 30, No.4 THE DILEMMA: TO PARTICIPATE IN DISCOVERY OR NOT. "[R]acketeering activity," as expressly defined by the
King & Spalding: How to Keep the Other Shoe from Dropping: The Interrela...
...xnt Version | Search | Site Map | Disclaimer Our Firm Practices Attorneys Recruiting Diversity Professional Development Library Community Service Contact Us Kcles Search Internet Resources Reprinted with permission from the Georgia State Bar Journal, Vol. 30, No.4 The Dilemma: To Participate in Discovery or Not. "[R]acketeering activity," as expressly defined by the federal RICO statute,1 encompasses numerous specific criminal offenses
Morris: Sarbanes-Oxley Act of 2002
Because different aspects of this legislation become effective at different times and some aspects are subject to further SEC rule making, the first section is a Timeline and Action Item Summary. This section provides a chronologically-organized list of when the various provisions become effective together with suggested actions to be taken for compliance with the Act
Quinn Emanuel: Federal Inter-Agency SWAT Team Forms to Pursue Cor...
Corporate Fraud Task Force Headlines Firm News Articles Recent Victories Newsletters Federal Inter-Agency SWAT Team Forms to Pursue Corporate Wrongdoing On Friday, July 12, 2002, President Bush participated in the first meeting of the new inter-agency Corporate Fraud Task Force. The task force is chaired by the Deputy Attorney General and includes, among others, the Chairman of the SEC, the Director of the FBI, and the chief federal prosecutors for Manhattan and Los Angeles
Quinn Emanuel: Electronic Discovery - Taming the Monster
Federal Rule of Civil Procedure 34(a) allows a litigant to ask the other side to produce "data compilations from which information can be obtained, translated, if necessary, by the respondent through detection devices into reasonably usable form." Translated into plain English: a company's e-mail records and its electronic data systems are fair game for discovery. But discovery of electronic data can be hideously expensive—a fact some courts have now recognized in limiting it
Quinn Emanuel: Developments in Corporate Governance Reform
The WCCPEA includes tough criminal penalties for senior executives of companies found to have committed accounting fraud or to have failed to "fairly present" the company's financial condition in reports filed with the SEC. The WCCPEA requires CEOs and CFOs to certify corporate financial statements and imposes criminal penalties for noncompliance. The mid 1980s uproar related to charges that federal government defense contractors were intentionally including unallowable costs in proposals for
Sidley Austin: Sarbanes-Oxley Act of 2002 - General
SARBANES-OXLEY ACT OF 2002. On July 25, 2002, the U.S. Senate and the U.S. House of Representatives each passed, by overwhelming majorities, the Sarbanes-Oxley Act of 2002, sweeping new legislation with the stated purpose of protecting investors by improving the accuracy and reliability of corporate disclosures made pursuant to the Federal securities laws
Stroock: U.S. Sentencing Commission: Proposed Amendment to the S...
Notice of Proposed Temporary, emergency amendments - BAC2210-40/2211-01 (Nov 27, 2002) BAC2210-40/2211-01 UNITED STATES SENTENCING COMMISSION Sentencing Guidelines for United States Courts AGENCY: United States Sentencing Commission ACTION: Notice of proposed temporary, emergency amendments to sentencing guidelines, policy statements, and commentary. Notice of intent to repromulgate temporary, emergency amendments as permanent, non-emergency amendments
Stroock: SEC Issues Rules for Arthur Andersen LLP Audit Clients
In response to the March 14, 2002 indictment of Arthur Andersen LLP ("Andersen") on obstruction of justice charges, the Securities and Exchange Commission (the "SEC") has issued temporary final rules and final rules (collectively, the "Rules") to "assure a continuing and orderly flow of information to investors and the U.S. capital markets," and to provide clients of Andersen "time to address any timing constraints and temporary disruptions they may face" in connection with their audited
Stroock: "Second Bite at the Apple: Successive and Concurre...
In other words: One investigation; one prosecution office; one indictment. Isn't it still so under the Double Jeopardy Clause of the U.S. Constitution
Stroock: The Sarbanes-Oxley Act
One Hundred Seventh Congress of the United States of America. AT THE SECOND SESSION Begun and held at the City of Washington on Wednesday, the twenty-third day of January, two thousand and two
Stroock: The Sarbanes-Oxley Act - House and Senate Conference Co...
107TH CONGRESS 2d Session " HOUSE OF REPRESENTATIVES ! REPORT 107610SARBANES-OXLEY ACT OF 2002JULY 24, 2002.--Ordered to be printedMr. OXLEY, from the committee of conference, submitted the following CONFERENCE REPORT [To accompany H.R. 3763] The committee of conference on the disagreeing votes of the two Houses on the amendment of the Senate to the bill (H.R. 3763), to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and
Vorys Sater: Crime Doesn't Pay -- But Counsel May by David F. A...
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Tuesday, April 26, 2005 published in Criminal Justice (Fall 1993) and Corprate Counsel's Quarterly (January 1994). 2001 David F. Axelrod, W. Evan Price II, Justin A. Thornton Crime Doesn't Pay -- But Counsel May What every practitioner needs to know about criminal exposure in the everyday practice of law By David F. Axelrod, W. Evan Price II and Justin A. Thornton1 The federal government s increasing reliance on criminal
Winston Strawn: EPA Laboratory Misconduct May Affect Pending Enforcemen...
When the whistle blows
...reporting illegal discharges of oil to the government. Invoking the bounty provision in the Act to Prevent Pollution from Ships (APPS), which allows courts to award up to one-half of the fine to those who provided information leading to the conviction, courts have awarded whistleblowers millions of dollars at the request of the government
Employment & Labor Law Alert - August 28
Although many portions of the Sarbanes-Oxley Act are specific to publicly traded companies, certain provisions of the Act are relevant to both publicly traded and privately held companies, and all employers will want to familiarize themselves with these provisions. The Act has amended existing criminal laws regarding retaliation, document destruction and falsification, and tampering with documents related to official proceedings
Pros and Cons of an Internal Investigation
Ms. Thiel acknowledges the assistance of the Morgan Lewis Corporate Investigations and Criminal Defense Group in the preparation of this article. Although ignorance is bliss, the healthcare industry has learned through hundreds of investigations and millions of dollars in penalties that it cannot afford willful ignorance
With Two Strikes
...the last of which occurred within ten years. after the commission of a prior act of racketeering activity," 18 U.S.C. º 1961(5). Any person injured in his business or property by a RICO violation may bring a civil action for treble damages and attorneys' fees. 18 U.S.C. º 1964(c). RICO does not contain any express limitations period for civil claims. In Agency Holding Corp. v. Malley-Duff iates, Inc., 483 U.S. 143 (1987), the Supreme Court established a four-year limitations period, but did not
SEC Adopts Final Rules In Advance Of January 26
The Sarbanes-Oxley Act of 2002 (the "Act") of 2002 required the U. S. Securities and Exchange Commission ("SEC") to enact a host of rules and regulations by January 26, 2003. The following chart contains a brief summary of the final rules and regulations adopted by the SEC in satisfaction of those requirements and their effective dates
First
WEEK OF JULY 18, 2005 · VOL. XXVIII, NO. 29. ompanies that are the subject of government scrutiny face new challenges in deciding how to investigate the allegations that sparked the govern
"Dealing with the Whistleblower/Informer
The conscience-driven whistleblower, typically in a unique position to know, is viewed as coming forward to protect society, as in the cases of FBI Special Agent Coleen Rowley, who reported on laxity in terrorism enforcement,2 and Jeffrey Wigand, who disclosed big tobacco's conspiracy of cover-up3: no hidden motives. That purist brand of whistleblower surely deserves every protection society can offer: protection against physical retaliation4 and against retaliation in employment
Hard Time with Hard Drives by David Axelrod
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Tuesday, October 11, 2005 By David F. Axelrod, James E. Phillips, Kevin R. Conners Computers have rapidly become the dominant form of record creation and a leading form of record retention. The storage of documents electronically creates new and difficult issues for litigators
Hard Time with Hard Drives by David Axelrod
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Tuesday, October 11, 2005 By David F. Axelrod, James E. Phillips, Kevin R. Conners Computers have rapidly become the dominant form of record creation and a leading form of record retention. The storage of documents electronically creates new and difficult issues for litigators
Implementing An Issues Management Strategy
This article originally appeared in the 1998 edition of the 65 Defense Counsel Journal. It is vitally important to the proper development of a product to encourage an open exchange of ideas to be sure that the product is developed within proper protocols, and then to document these facts and the reasons design decisions were made
Insolvency: The Directors' Refrain
Bankruptcy lawyers around the country, an innovative crowd to say the least, recently have discovered a new cottage industry: suing directors of failed companies. The board of directors tries to arrange a merger, a sale, or an injection of urgently needed funding
Securities Law Alert- July 29
SARBANES-OXLEY ACT OF 2002. On July 25, 2002, the U.S. Senate and the U.S. House of Representatives each passed, by overwhelming majorities, the Sarbanes-Oxley Act of 2002, sweeping new legislation with the stated purpose of protecting investors by improving the accuracy and reliability of corporate disclosures made pursuant to the Federal securities laws
Bulletin 01-A
United States General Accounting Office. APHIS APPS CMC ECP EPA FBI IMO ISM ISP MARAD Animal, Plant, and Health Inspection Service Act to Prevent Pollution from Ships Center for Marine Conservation environmental compliance plan Environmental Protection Agency Federal Bureau of Investigation International Maritime Organization International Safety Management International Shipping Partners Maritime Administration
Bulletin 01-A
United States General Accounting Office. APHIS APPS CMC ECP EPA FBI IMO ISM ISP MARAD Animal, Plant, and Health Inspection Service Act to Prevent Pollution from Ships Center for Marine Conservation environmental compliance plan Environmental Protection Agency Federal Bureau of Investigation International Maritime Organization International Safety Management International Shipping Partners Maritime Administration
10-01-02: Employment
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: Public Finance Bondletter
Lawyer Goes to Jail in Yield-Burning Case TBB (April 15) reports that Patrick H. McCarthy 3d, 55, formerly of Wolf, Block, Schorr and Solis-Cohen, Philadelphia, who pled guilty in January to one federal count of obstruction of justice in connection with his destruction and concealment of documents in response to a Securities and Exchange Commission subpoena, and misleading testimony before the SEC, has been sentenced to three months in prison and fined $20,000. McCarthy because "cooperated
Akin Gump: New Criminal Penalties for Unlawful Document Destructio...
NEW CRIMINAL PENALTIES FOR UNLAWFUL DOCUMENT DESTRUCTION Earlier this year, allegations of improper document destruction led to the indictment and eventual conviction of Arthur Andersen, for many years one of the nation's largest and most respected accounting firms. The Sarbanes-Oxley Act, signed into law on July 30, 2002, creates two entirely new criminal statutes regarding document destruction - Sections 1519 and 1520 of the federal Criminal Code - and expands the scope of a pre-existing
Akin Gump: Areas Reportedly Under Investigation in the Government ...
Akin Gump Health Industry Alert Health Industry Alert December 17, 1997 Areas Reportedly Under Investigation in the Government Probe of Columbia/HCA Health Care Corporation As you are undoubtedly aware, the federal government and a growing number of states are conducting wide ranging investigations into whether Columbia/HCA Healthcare Corporation and its officials have violated healthcare anti-fraud and abuse laws. These investigations have already resulted in three criminal indictments of
Akin Gump: The United Nations Convention Against Corruption
Countries at all levels of economic development and in all regions of the world, such as China, Iran, Haiti and those of the European Union, signed the Convention during the conference, demonstrating broad-based international determination to end corruption. Although the full effect of the UN Convention will not be felt for several years, business organizations operating internationally should be aware of its scope in order to anticipate and prepare for potential changes in the legal landscape
Akin Gump: Congressional Approval of Major Corporate Accounting an...
CONGRESSIONALAPPROVAL OF MAJOR CORPORATE ACCOUNTING AND GOVERNANCE REFORM LEGISLATION SARBANES-OXLEYACT OF 2002 On July 30, 2002, the President will sign into law the Sarbanes-Oxley Act of 2002. The bill, which was passed overwhelmingly on July 25, 2002, by both the U.S. House of Representatives and Senate, is an historic piece of legislation intended to protect investors by enhancing the accuracy, reliability and transparency of corporate disclosures made pursuant to the securities laws and by
Arnold Porter: The New Sarbanes-Oxley Act (PDF: 1.17 MB)
The Act broadly impacts the way public companies, officers, directors, audit committees, auditors and even counsel act, and imposes significant new responsibilities, liabilities and risks on each of these parties. The Act mandates important new corporate governance and financial reporting requirements intended to enhance the accuracy and transparency of public companies' reported financial results
Blank Rome: What Can Seafarers Learn from Martha Stewart? Lessons f...
Lessons from the Staten Island Ferry and Other Recent Incidents by Jane F. Barrett and Allison L. Fennell Originally Published In: THE NEW YORK LAW JOURNAL May 31, 2002 -- The prosecution of Martha Stewart for obstruction of justice and making false statements to federal investigators sent a strong message to the public about lying to government investigators: Do so at your own peril. By now, it is common knowledge that Stewart was charged with and convicted of five counts of obstruction of
Blank Rome: Criminal Enforcement in the Marine Industry: The Latest...
Criminal Enforcement in the Marine Industry: The Latest Trends Search: Advanced Search Criminal Enforcement in the Marine Industry: The Latest Trends by Jeanne M. Grasso and Allison L. Fennell Originally Published In: THE NEW YORK LAW JOURNAL May 31, 2002 -- The Lay of the Land - or Sea In the past several years, federal prosecutors increasingly have devoted time and resources to pursuing vessel owners, operators, crewmembers, and shoreside employees who are involved in illegal discharges at
Blank Rome: Criminal Prosecutions and the Maritime Industry - A Wor...
With this worldwide focus on prosecuting environmental crimes against the maritime industry, companies must take a hard look at their corporate compliance programs to minimize chances of being targeted for criminal prosecution. Beginning in the mid-1990s, this effort has been directed at the maritime industry - owners, operators, managers, crewmembers, shoreside personnel, and corporate officers
Blank Rome: Criminal Environmental Prosecutions and the Maritime In...
URING the 1990s, the United States' use of criminal penalties to enforce environmental laws, particularly as related to the maritime industry, was viewed by the rest of the world as heavy handed and unnecessary. The historical inclination of regulatory authorities to emphasise compliance over punishment is changing and punishment is increasingly taking a greater role in environmental enforcement
Bricker & Eckler: Acredula - March/April 2003
...n light of Congress' and investors' views that excessive use of stock options and similar equity-based compensation has created incentives to manipulate stock prices, the time has come for boards and executives to review their compensation plans. has also come to review funding of compensation plans,especiallythoseproviding retirement and deferred compensation, in light of the losses suffered as a result of creditors' claims and bankruptcies
Brown McCarroll: Internal/Government Investigations: Answers to Your Tou...
It requires a complete understanding of the subject of the investigation, knowledge of laws and how they could impact your organization, and the ability to use this information to draw conclusions about the findings. Tell employees the following: The organization the interviewer represents The purpose of your investigation The information they provide is generally privileged from disclosure outside the corporation, unless the corporation chooses to waive that protection They should keep the
Clifford Chance: Antitrust Review - September 2002
Clifford Chance: Antitrust Review - November 2003
Cooley Godward: The Sarbanes-Oxley Act of 2002
Aimed at restoring investor trust and confidence in the public markets, the Act seeks to prevent future acts of corporate and accounting fraud through a variety of oversight and deterrence measures and to address perceived inequities arising out of the recent Enron and WorldCom scandals. The Act also increases SEC appropriations by $776 million to provide enhanced oversight and enforcement of securities laws
Epstein Becker & Green: PDF
...ournal of Health Care Compliance. n response to a variety of events and governmental initiatives, many health care organizations adopted corporate compliance programs in the 1990s
Gardner Carton: What Does it Mean if Your Company Receives A Federal Gr...
Gardner Carton: Enforcing President Bush''s Call for A New Et...
Goodwin Procter: Richard M. Strassberg
Prior to joining Goodwin Procter, Mr. Strassberg was the Chief of the Major Crimes Unit in the United States Attorney’s Office for the Southern District of New York, responsible for supervising approximately 25 Assistant United States Attorneys in the prosecution of white collar criminal cases. These cases include (i) the Martha Stewart case, where Mr. Strassberg represents Peter Bacanovic, Ms. Stewart s former Merrill Lynch financial advisor; (ii) the Enron investigation; (iii) the many
Goodwin Procter: Lawyers on Trial: Government Views Attorneys as "F...
Government views attorneys as `first line of defense' against corporate malfeasance. BY RICHARD M. STRASSBERG, DAVID B. PITOFSKY AND SAMANTHA L. SCHREIBER N THE POST-ENRON WORLD, the public has become all too familiar with the names of deposed CEOs: Lay, Skilling, Ebbers, Scrushy, Kozlowski, Rigas
Gray Cary: Criminal Cases Heighten Need for Document Retention Pol...
...writeln('\'This will scan for plugins for all versions of Internet Explorer that have a VBscript engine version 2 or greater. writeln('\'This includes all versions of IE4 and beyond and some versions of IE 3
King & Spalding: How to Keep the Other Shoe from Dropping: The Interrela...
...xnt Version | Search | Site Map | Disclaimer Our Firm Practices Attorneys Recruiting Diversity Professional Development Library Community Service Contact Us Kcles Search Internet Resources How to Keep the Other Shoe from Dropping: The Interrelationship of Civil RICO and Criminal Proceedings By: Larry D. Thompson Reprinted with permission from the Georgia State Bar Journal, Vol. 30, No.4 THE DILEMMA: TO PARTICIPATE IN DISCOVERY OR NOT. "[R]acketeering activity," as expressly defined by the
King & Spalding: How to Keep the Other Shoe from Dropping: The Interrela...
...xnt Version | Search | Site Map | Disclaimer Our Firm Practices Attorneys Recruiting Diversity Professional Development Library Community Service Contact Us Kcles Search Internet Resources Reprinted with permission from the Georgia State Bar Journal, Vol. 30, No.4 The Dilemma: To Participate in Discovery or Not. "[R]acketeering activity," as expressly defined by the federal RICO statute,1 encompasses numerous specific criminal offenses
Morris: Sarbanes-Oxley Act of 2002
Because different aspects of this legislation become effective at different times and some aspects are subject to further SEC rule making, the first section is a Timeline and Action Item Summary. This section provides a chronologically-organized list of when the various provisions become effective together with suggested actions to be taken for compliance with the Act
Palmer & Dodge: The Pros and Cons of Invoking the Fifth Amendment Befor...
Palmer & Dodge: The Pros and Cons of Invoking the Fifth Amendment Before the SEC "); document.write(""); } //dummy functions to prevent errors until real functions are loaded and in effect. //-- if(document.images){ publicationsoff.src="images/sp/publications_over. gif" //we're in this department, turn on the image } The Pros and Cons of Invoking the Fifth Amendment Before the SEC by Michael T. Gass, Melissa C. Allison, Stephen G. Huggard The Pros and Cons of Invoking the Fifth Amendment Before
Palmer & Dodge: Increasingly Aggressive Securities Enforcement Environm...
Palmer & Dodge: Increasingly Aggressive Securities Enforcement Environment Requires Companies to Reconsider Existing Practices "); document.write(""); } //dummy functions to prevent errors until real functions are loaded and in effect. //-- if(document.images){ publicationsoff.src="images/sp/publications_over. gif" //we're in this department, turn on the image } Increasingly Aggressive Securities Enforcement Environment Requires Companies to Reconsider Existing Practices by Michael T. Gass,
Sidley Austin: Sarbanes-Oxley Act of 2002 - General
SARBANES-OXLEY ACT OF 2002. On July 25, 2002, the U.S. Senate and the U.S. House of Representatives each passed, by overwhelming majorities, the Sarbanes-Oxley Act of 2002, sweeping new legislation with the stated purpose of protecting investors by improving the accuracy and reliability of corporate disclosures made pursuant to the Federal securities laws
Stroock: U.S. Sentencing Commission: Proposed Amendment to the S...
Notice of Proposed Temporary, emergency amendments - BAC2210-40/2211-01 (Nov 27, 2002) BAC2210-40/2211-01 UNITED STATES SENTENCING COMMISSION Sentencing Guidelines for United States Courts AGENCY: United States Sentencing Commission ACTION: Notice of proposed temporary, emergency amendments to sentencing guidelines, policy statements, and commentary. Notice of intent to repromulgate temporary, emergency amendments as permanent, non-emergency amendments
Stroock: SEC Issues Rules for Arthur Andersen LLP Audit Clients
In response to the March 14, 2002 indictment of Arthur Andersen LLP ("Andersen") on obstruction of justice charges, the Securities and Exchange Commission (the "SEC") has issued temporary final rules and final rules (collectively, the "Rules") to "assure a continuing and orderly flow of information to investors and the U.S. capital markets," and to provide clients of Andersen "time to address any timing constraints and temporary disruptions they may face" in connection with their audited
Stroock: "Second Bite at the Apple: Successive and Concurre...
In other words: One investigation; one prosecution office; one indictment. Isn't it still so under the Double Jeopardy Clause of the U.S. Constitution
Stroock: The Sarbanes-Oxley Act
One Hundred Seventh Congress of the United States of America. AT THE SECOND SESSION Begun and held at the City of Washington on Wednesday, the twenty-third day of January, two thousand and two
Stroock: The Sarbanes-Oxley Act - House and Senate Conference Co...
107TH CONGRESS 2d Session " HOUSE OF REPRESENTATIVES ! REPORT 107610SARBANES-OXLEY ACT OF 2002JULY 24, 2002.--Ordered to be printedMr. OXLEY, from the committee of conference, submitted the following CONFERENCE REPORT [To accompany H.R. 3763] The committee of conference on the disagreeing votes of the two Houses on the amendment of the Senate to the bill (H.R. 3763), to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and
Vorys Sater: Crime Doesn't Pay -- But Counsel May by David F. A...
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Tuesday, October 11, 2005 published in Criminal Justice (Fall 1993) and Corprate Counsel's Quarterly (January 1994). 2001 David F. Axelrod, W. Evan Price II, Justin A. Thornton Crime Doesn't Pay -- But Counsel May What every practitioner needs to know about criminal exposure in the everyday practice of law By David F. Axelrod, W. Evan Price II and Justin A. Thornton1 The federal government s increasing reliance on criminal
Winston Strawn: EPA Laboratory Misconduct May Affect Pending Enforcemen...
When the whistle blows
...reporting illegal discharges of oil to the government. Invoking the bounty provision in the Act to Prevent Pollution from Ships (APPS), which allows courts to award up to one-half of the fine to those who provided information leading to the conviction, courts have awarded whistleblowers millions of dollars at the request of the government
Employment & Labor Law Alert - August 28
Although many portions of the Sarbanes-Oxley Act are specific to publicly traded companies, certain provisions of the Act are relevant to both publicly traded and privately held companies, and all employers will want to familiarize themselves with these provisions. The Act has amended existing criminal laws regarding retaliation, document destruction and falsification, and tampering with documents related to official proceedings
Pros and Cons of an Internal Investigation
Ms. Thiel acknowledges the assistance of the Morgan Lewis Corporate Investigations and Criminal Defense Group in the preparation of this article. Although ignorance is bliss, the healthcare industry has learned through hundreds of investigations and millions of dollars in penalties that it cannot afford willful ignorance
With Two Strikes
...the last of which occurred within ten years. after the commission of a prior act of racketeering activity," 18 U.S.C. º 1961(5). Any person injured in his business or property by a RICO violation may bring a civil action for treble damages and attorneys' fees. 18 U.S.C. º 1964(c). RICO does not contain any express limitations period for civil claims. In Agency Holding Corp. v. Malley-Duff iates, Inc., 483 U.S. 143 (1987), the Supreme Court established a four-year limitations period, but did not
First
SEC Adopts Final Rules In Advance Of January 26
The Sarbanes-Oxley Act of 2002 (the "Act") of 2002 required the U. S. Securities and Exchange Commission ("SEC") to enact a host of rules and regulations by January 26, 2003. The following chart contains a brief summary of the final rules and regulations adopted by the SEC in satisfaction of those requirements and their effective dates
Litigation Update - November 7
The Enron/Andersen matter,the Frank Quattrone trial,and the Coleman/Morgan Stanley case have all highlighted the importance of document management and retention policies and the litigation consequences of failing to follow such policies. These issues have assumed more importance for the business community with the development of technologies that facilitate communication but create countless documents and information in both traditional (paper) and electronic (email, instant messaging,
"Dealing with the Whistleblower/Informer
The conscience-driven whistleblower, typically in a unique position to know, is viewed as coming forward to protect society, as in the cases of FBI Special Agent Coleen Rowley, who reported on laxity in terrorism enforcement,2 and Jeffrey Wigand, who disclosed big tobacco's conspiracy of cover-up3: no hidden motives. That purist brand of whistleblower surely deserves every protection society can offer: protection against physical retaliation4 and against retaliation in employment
Implementing An Issues Management Strategy
This article originally appeared in the 1998 edition of the 65 Defense Counsel Journal. It is vitally important to the proper development of a product to encourage an open exchange of ideas to be sure that the product is developed within proper protocols, and then to document these facts and the reasons design decisions were made
Insolvency: The Directors' Refrain
Bankruptcy lawyers around the country, an innovative crowd to say the least, recently have discovered a new cottage industry: suing directors of failed companies. The board of directors tries to arrange a merger, a sale, or an injection of urgently needed funding
Securities Law Alert- July 29
SARBANES-OXLEY ACT OF 2002. On July 25, 2002, the U.S. Senate and the U.S. House of Representatives each passed, by overwhelming majorities, the Sarbanes-Oxley Act of 2002, sweeping new legislation with the stated purpose of protecting investors by improving the accuracy and reliability of corporate disclosures made pursuant to the Federal securities laws
Bulletin 01-A
United States General Accounting Office. APHIS APPS CMC ECP EPA FBI IMO ISM ISP MARAD Animal, Plant, and Health Inspection Service Act to Prevent Pollution from Ships Center for Marine Conservation environmental compliance plan Environmental Protection Agency Federal Bureau of Investigation International Maritime Organization International Safety Management International Shipping Partners Maritime Administration
Bulletin 01-A
United States General Accounting Office. APHIS APPS CMC ECP EPA FBI IMO ISM ISP MARAD Animal, Plant, and Health Inspection Service Act to Prevent Pollution from Ships Center for Marine Conservation environmental compliance plan Environmental Protection Agency Federal Bureau of Investigation International Maritime Organization International Safety Management International Shipping Partners Maritime Administration
10-01-02: Employment
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: Public Finance Bondletter
Lawyer Goes to Jail in Yield-Burning Case TBB (April 15) reports that Patrick H. McCarthy 3d, 55, formerly of Wolf, Block, Schorr and Solis-Cohen, Philadelphia, who pled guilty in January to one federal count of obstruction of justice in connection with his destruction and concealment of documents in response to a Securities and Exchange Commission subpoena, and misleading testimony before the SEC, has been sentenced to three months in prison and fined $20,000. McCarthy because "cooperated
Akin Gump: New Criminal Penalties for Unlawful Document Destructio...
NEW CRIMINAL PENALTIES FOR UNLAWFUL DOCUMENT DESTRUCTION Earlier this year, allegations of improper document destruction led to the indictment and eventual conviction of Arthur Andersen, for many years one of the nation's largest and most respected accounting firms. The Sarbanes-Oxley Act, signed into law on July 30, 2002, creates two entirely new criminal statutes regarding document destruction - Sections 1519 and 1520 of the federal Criminal Code - and expands the scope of a pre-existing
Akin Gump: Areas Reportedly Under Investigation in the Government ...
Akin Gump Health Industry Alert Health Industry Alert December 17, 1997 Areas Reportedly Under Investigation in the Government Probe of Columbia/HCA Health Care Corporation As you are undoubtedly aware, the federal government and a growing number of states are conducting wide ranging investigations into whether Columbia/HCA Healthcare Corporation and its officials have violated healthcare anti-fraud and abuse laws. These investigations have already resulted in three criminal indictments of
Akin Gump: The United Nations Convention Against Corruption
Countries at all levels of economic development and in all regions of the world, such as China, Iran, Haiti and those of the European Union, signed the Convention during the conference, demonstrating broad-based international determination to end corruption. Although the full effect of the UN Convention will not be felt for several years, business organizations operating internationally should be aware of its scope in order to anticipate and prepare for potential changes in the legal landscape
Akin Gump: Congressional Approval of Major Corporate Accounting an...
CONGRESSIONALAPPROVAL OF MAJOR CORPORATE ACCOUNTING AND GOVERNANCE REFORM LEGISLATION SARBANES-OXLEYACT OF 2002 On July 30, 2002, the President will sign into law the Sarbanes-Oxley Act of 2002. The bill, which was passed overwhelmingly on July 25, 2002, by both the U.S. House of Representatives and Senate, is an historic piece of legislation intended to protect investors by enhancing the accuracy, reliability and transparency of corporate disclosures made pursuant to the securities laws and by
Arnold Porter: The New Sarbanes-Oxley Act (PDF: 1.17 MB)
The Act broadly impacts the way public companies, officers, directors, audit committees, auditors and even counsel act, and imposes significant new responsibilities, liabilities and risks on each of these parties. The Act mandates important new corporate governance and financial reporting requirements intended to enhance the accuracy and transparency of public companies' reported financial results
Blank Rome: What Can Seafarers Learn from Martha Stewart? Lessons f...
Lessons from the Staten Island Ferry and Other Recent Incidents by Jane F. Barrett and Allison L. Fennell Originally Published In: THE NEW YORK LAW JOURNAL May 31, 2002 -- The prosecution of Martha Stewart for obstruction of justice and making false statements to federal investigators sent a strong message to the public about lying to government investigators: Do so at your own peril. By now, it is common knowledge that Stewart was charged with and convicted of five counts of obstruction of
Blank Rome: Criminal Enforcement in the Marine Industry: The Latest...
Criminal Enforcement in the Marine Industry: The Latest Trends Search: Advanced Search Criminal Enforcement in the Marine Industry: The Latest Trends by Jeanne M. Grasso and Allison L. Fennell Originally Published In: THE NEW YORK LAW JOURNAL May 31, 2002 -- The Lay of the Land - or Sea In the past several years, federal prosecutors increasingly have devoted time and resources to pursuing vessel owners, operators, crewmembers, and shoreside employees who are involved in illegal discharges at
Blank Rome: Criminal Prosecutions and the Maritime Industry - A Wor...
With this worldwide focus on prosecuting environmental crimes against the maritime industry, companies must take a hard look at their corporate compliance programs to minimize chances of being targeted for criminal prosecution. Beginning in the mid-1990s, this effort has been directed at the maritime industry - owners, operators, managers, crewmembers, shoreside personnel, and corporate officers
Blank Rome: Criminal Environmental Prosecutions and the Maritime In...
URING the 1990s, the United States' use of criminal penalties to enforce environmental laws, particularly as related to the maritime industry, was viewed by the rest of the world as heavy handed and unnecessary. The historical inclination of regulatory authorities to emphasise compliance over punishment is changing and punishment is increasingly taking a greater role in environmental enforcement
Blank Rome: Law and Order: The Emergence of the Seaman's Mansl...
Law and Order: The Emergence of the Seaman's Manslaughter Statute. The most common prosecutions by far relate to environmental violations and the attendant postincident conduct, including false statements, conspiracy, and obstruction of justice
Bricker & Eckler: Acredula - March/April 2003
...n light of Congress' and investors' views that excessive use of stock options and similar equity-based compensation has created incentives to manipulate stock prices, the time has come for boards and executives to review their compensation plans. has also come to review funding of compensation plans,especiallythoseproviding retirement and deferred compensation, in light of the losses suffered as a result of creditors' claims and bankruptcies
Brown McCarroll: Internal/Government Investigations: Answers to Your Tou...
It requires a complete understanding of the subject of the investigation, knowledge of laws and how they could impact your organization, and the ability to use this information to draw conclusions about the findings. Tell employees the following: The organization the interviewer represents The purpose of your investigation The information they provide is generally privileged from disclosure outside the corporation, unless the corporation chooses to waive that protection They should keep the
Clifford Chance: Antitrust Review - September 2002
Clifford Chance: Antitrust Review - November 2003
Cooley Godward: The Sarbanes-Oxley Act of 2002
Aimed at restoring investor trust and confidence in the public markets, the Act seeks to prevent future acts of corporate and accounting fraud through a variety of oversight and deterrence measures and to address perceived inequities arising out of the recent Enron and WorldCom scandals. The Act also increases SEC appropriations by $776 million to provide enhanced oversight and enforcement of securities laws
Epstein Becker & Green: PDF
...ournal of Health Care Compliance. n response to a variety of events and governmental initiatives, many health care organizations adopted corporate compliance programs in the 1990s
Goodwin Procter: Richard M. Strassberg
Prior to joining Goodwin Procter, Mr. Strassberg was the Chief of the Major Crimes Unit in the United States Attorney’s Office for the Southern District of New York, responsible for supervising approximately 25 Assistant United States Attorneys in the prosecution of white collar criminal cases. These cases include (i) the Martha Stewart case, where Mr. Strassberg represents Peter Bacanovic, Ms. Stewart s former Merrill Lynch financial advisor; (ii) the Enron investigation; (iii) the many
Goodwin Procter: David B. Pitofsky
Mr. Pitofsky s subject matter expertise encompasses corporate accounting fraud, securities fraud, financial institution fraud, mail and wire fraud, health care fraud, antitrust, public corruption, tax fraud, money laundering and violations of the Sarbanes-Oxley and Foreign Corrupt Practices Acts. Work for Clients Some of Mr. Pitofsky s recent or current matters include: the representation of an individual in a high-profile corruption investigation involving a former United States congressman;
Goodwin Procter: Lawyers on Trial: Government Views Attorneys as "F...
Government views attorneys as `first line of defense' against corporate malfeasance. BY RICHARD M. STRASSBERG, DAVID B. PITOFSKY AND SAMANTHA L. SCHREIBER N THE POST-ENRON WORLD, the public has become all too familiar with the names of deposed CEOs: Lay, Skilling, Ebbers, Scrushy, Kozlowski, Rigas
Goodwin Procter: Trends in Corporate Fraud Enforcement
...or high-profile defendants, timing is everything. After Milken pleaded guilty to securities, mail and tax fraud and market manipulation, he was sentenced to 10 years in prison, with anticipated actual service of 40 months
Gray Cary: Criminal Cases Heighten Need for Document Retention Pol...
...aspx", "Snapshot", "width=370,height=150,scrollbars=no"); } Welcome With more than 3,100 lawyers located in 22 countries and 58 offices throughout Asia, Europe and the U.S., DLA Piper Rudnick Gray Cary is positioned to help companies with all their legal needs anywhere in the world. Search Site Search News People Cases & Deals DLA Piper Representing Cyclades Corporation in Acquisition by Avocent Corporation 31 Jan 2006 DLA Piper Successfully Represents IMX In Patent Dispute Against
King & Spalding: How to Keep the Other Shoe from Dropping: The Interrela...
...xnt Version | Search | Site Map | Disclaimer Our Firm Practices Attorneys Recruiting Diversity Professional Development Library Community Service Contact Us Kcles Search Internet Resources How to Keep the Other Shoe from Dropping: The Interrelationship of Civil RICO and Criminal Proceedings By: Larry D. Thompson Reprinted with permission from the Georgia State Bar Journal, Vol. 30, No.4 THE DILEMMA: TO PARTICIPATE IN DISCOVERY OR NOT. "[R]acketeering activity," as expressly defined by the
King & Spalding: How to Keep the Other Shoe from Dropping: The Interrela...
...xnt Version | Search | Site Map | Disclaimer Our Firm Practices Attorneys Recruiting Diversity Professional Development Library Community Service Contact Us Kcles Search Internet Resources Reprinted with permission from the Georgia State Bar Journal, Vol. 30, No.4 The Dilemma: To Participate in Discovery or Not. "[R]acketeering activity," as expressly defined by the federal RICO statute,1 encompasses numerous specific criminal offenses
Morris: Sarbanes-Oxley Act of 2002
Because different aspects of this legislation become effective at different times and some aspects are subject to further SEC rule making, the first section is a Timeline and Action Item Summary. This section provides a chronologically-organized list of when the various provisions become effective together with suggested actions to be taken for compliance with the Act
Palmer & Dodge: The Pros and Cons of Invoking the Fifth Amendment Befor...
Palmer & Dodge: Increasingly Aggressive Securities Enforcement Environm...
Sidley Austin: Sarbanes-Oxley Act of 2002 - General
SARBANES-OXLEY ACT OF 2002. On July 25, 2002, the U.S. Senate and the U.S. House of Representatives each passed, by overwhelming majorities, the Sarbanes-Oxley Act of 2002, sweeping new legislation with the stated purpose of protecting investors by improving the accuracy and reliability of corporate disclosures made pursuant to the Federal securities laws
Stroock: U.S. Sentencing Commission: Proposed Amendment to the S...
Notice of Proposed Temporary, emergency amendments - BAC2210-40/2211-01 (Nov 27, 2002) BAC2210-40/2211-01 UNITED STATES SENTENCING COMMISSION Sentencing Guidelines for United States Courts AGENCY: United States Sentencing Commission ACTION: Notice of proposed temporary, emergency amendments to sentencing guidelines, policy statements, and commentary. Notice of intent to repromulgate temporary, emergency amendments as permanent, non-emergency amendments
Stroock: SEC Issues Rules for Arthur Andersen LLP Audit Clients
In response to the March 14, 2002 indictment of Arthur Andersen LLP ("Andersen") on obstruction of justice charges, the Securities and Exchange Commission (the "SEC") has issued temporary final rules and final rules (collectively, the "Rules") to "assure a continuing and orderly flow of information to investors and the U.S. capital markets," and to provide clients of Andersen "time to address any timing constraints and temporary disruptions they may face" in connection with their audited
Stroock: "Second Bite at the Apple: Successive and Concurre...
In other words: One investigation; one prosecution office; one indictment. Isn't it still so under the Double Jeopardy Clause of the U.S. Constitution
Stroock: The Sarbanes-Oxley Act
One Hundred Seventh Congress of the United States of America. AT THE SECOND SESSION Begun and held at the City of Washington on Wednesday, the twenty-third day of January, two thousand and two
Stroock: The Sarbanes-Oxley Act - House and Senate Conference Co...
107TH CONGRESS 2d Session " HOUSE OF REPRESENTATIVES ! REPORT 107610SARBANES-OXLEY ACT OF 2002JULY 24, 2002.--Ordered to be printedMr. OXLEY, from the committee of conference, submitted the following CONFERENCE REPORT [To accompany H.R. 3763] The committee of conference on the disagreeing votes of the two Houses on the amendment of the Senate to the bill (H.R. 3763), to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and
Vorys Sater: Crime Doesn't Pay -- But Counsel May by David F. A...
...pec="";//ERROR CODES //INSERT CUSTOM EVENTS //END EDITABLE SECTION Thursday, March 2, 2006 published in Criminal Justice (Fall 1993) and Corprate Counsel's Quarterly (January 1994). 2001 David F. Axelrod, W. Evan Price II, Justin A. Thornton Crime Doesn't Pay -- But Counsel May What every practitioner needs to know about criminal exposure in the everyday practice of law By David F. Axelrod, W. Evan Price II and Justin A. Thornton1 The federal government s increasing reliance on criminal
Winston Strawn: EPA Laboratory Misconduct May Affect Pending Enforcemen...
When the whistle blows
Pros and Cons of an Internal Investigation
Ms. Thiel acknowledges the assistance of the Morgan Lewis Corporate Investigations and Criminal Defense Group in the preparation of this article. Although ignorance is bliss, the healthcare industry has learned through hundreds of investigations and millions of dollars in penalties that it cannot afford willful ignorance
SEC Adopts Final Rules In Advance Of January 26
The Sarbanes-Oxley Act of 2002 (the "Act") of 2002 required the U. S. Securities and Exchange Commission ("SEC") to enact a host of rules and regulations by January 26, 2003. The following chart contains a brief summary of the final rules and regulations adopted by the SEC in satisfaction of those requirements and their effective dates
Litigation Update - November 7
The Enron/Andersen matter,the Frank Quattrone trial,and the Coleman/Morgan Stanley case have all highlighted the importance of document management and retention policies and the litigation consequences of failing to follow such policies. These issues have assumed more importance for the business community with the development of technologies that facilitate communication but create countless documents and information in both traditional (paper) and electronic (email, instant messaging,
"Dealing with the Whistleblower/Informer
The conscience-driven whistleblower, typically in a unique position to know, is viewed as coming forward to protect society, as in the cases of FBI Special Agent Coleen Rowley, who reported on laxity in terrorism enforcement,2 and Jeffrey Wigand, who disclosed big tobacco's conspiracy of cover-up3: no hidden motives. That purist brand of whistleblower surely deserves every protection society can offer: protection against physical retaliation4 and against retaliation in employment
Insolvency: The Directors' Refrain
Bankruptcy lawyers around the country, an innovative crowd to say the least, recently have discovered a new cottage industry: suing directors of failed companies. The board of directors tries to arrange a merger, a sale, or an injection of urgently needed funding
Bulletin 01-A
United States General Accounting Office. APHIS APPS CMC ECP EPA FBI IMO ISM ISP MARAD Animal, Plant, and Health Inspection Service Act to Prevent Pollution from Ships Center for Marine Conservation environmental compliance plan Environmental Protection Agency Federal Bureau of Investigation International Maritime Organization International Safety Management International Shipping Partners Maritime Administration
Bulletin 01-A
United States General Accounting Office. APHIS APPS CMC ECP EPA FBI IMO ISM ISP MARAD Animal, Plant, and Health Inspection Service Act to Prevent Pollution from Ships Center for Marine Conservation environmental compliance plan Environmental Protection Agency Federal Bureau of Investigation International Maritime Organization International Safety Management International Shipping Partners Maritime Administration
10-01-02: Employment
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: Public Finance Bondletter
Lawyer Goes to Jail in Yield-Burning Case TBB (April 15) reports that Patrick H. McCarthy 3d, 55, formerly of Wolf, Block, Schorr and Solis-Cohen, Philadelphia, who pled guilty in January to one federal count of obstruction of justice in connection with his destruction and concealment of documents in response to a Securities and Exchange Commission subpoena, and misleading testimony before the SEC, has been sentenced to three months in prison and fined $20,000. McCarthy because "cooperated
Akin Gump: New Criminal Penalties for Unlawful Document Destructio...
NEW CRIMINAL PENALTIES FOR UNLAWFUL DOCUMENT DESTRUCTION Earlier this year, allegations of improper document destruction led to the indictment and eventual conviction of Arthur Andersen, for many years one of the nation's largest and most respected accounting firms. The Sarbanes-Oxley Act, signed into law on July 30, 2002, creates two entirely new criminal statutes regarding document destruction - Sections 1519 and 1520 of the federal Criminal Code - and expands the scope of a pre-existing
Akin Gump: Areas Reportedly Under Investigation in the Government ...
Akin Gump Health Industry Alert Health Industry Alert December 17, 1997 Areas Reportedly Under Investigation in the Government Probe of Columbia/HCA Health Care Corporation As you are undoubtedly aware, the federal government and a growing number of states are conducting wide ranging investigations into whether Columbia/HCA Healthcare Corporation and its officials have violated healthcare anti-fraud and abuse laws. These investigations have already resulted in three criminal indictments of
Akin Gump: The United Nations Convention Against Corruption
Countries at all levels of economic development and in all regions of the world, such as China, Iran, Haiti and those of the European Union, signed the Convention during the conference, demonstrating broad-based international determination to end corruption. Although the full effect of the UN Convention will not be felt for several years, business organizations operating internationally should be aware of its scope in order to anticipate and prepare for potential changes in the legal landscape
Akin Gump: Congressional Approval of Major Corporate Accounting an...
CONGRESSIONALAPPROVAL OF MAJOR CORPORATE ACCOUNTING AND GOVERNANCE REFORM LEGISLATION SARBANES-OXLEYACT OF 2002 On July 30, 2002, the President will sign into law the Sarbanes-Oxley Act of 2002. The bill, which was passed overwhelmingly on July 25, 2002, by both the U.S. House of Representatives and Senate, is an historic piece of legislation intended to protect investors by enhancing the accuracy, reliability and transparency of corporate disclosures made pursuant to the securities laws and by
Arnold Porter: The New Sarbanes-Oxley Act (PDF: 1.17 MB)
The Act broadly impacts the way public companies, officers, directors, audit committees, auditors and even counsel act, and imposes significant new responsibilities, liabilities and risks on each of these parties. The Act mandates important new corporate governance and financial reporting requirements intended to enhance the accuracy and transparency of public companies' reported financial results
Blank Rome: What Can Seafarers Learn from Martha Stewart? Lessons f...
In May 2006 we launched a new web site and the page you are trying to access is of the former site. Please click here to visit our new site
Blank Rome: Criminal Enforcement in the Marine Industry: The Latest...
In May 2006 we launched a new web site and the page you are trying to access is of the former site. Please click here to visit our new site
Blank Rome: Criminal Prosecutions and the Maritime Industry - A Wor...
In May 2006 we launched a new web site and the page you are trying to access is of the former site. Please click here to visit our new site
Blank Rome: Criminal Environmental Prosecutions and the Maritime In...
Blank Rome: Law and Order: The Emergence of the Seaman's Mansl...
Bricker & Eckler: Acredula - March/April 2003
...n light of Congress' and investors' views that excessive use of stock options and similar equity-based compensation has created incentives to manipulate stock prices, the time has come for boards and executives to review their compensation plans. has also come to review funding of compensation plans,especiallythoseproviding retirement and deferred compensation, in light of the losses suffered as a result of creditors' claims and bankruptcies
Brown McCarroll: Internal/Government Investigations: Answers to Your Tou...
It requires a complete understanding of the subject of the investigation, knowledge of laws and how they could impact your organization, and the ability to use this information to draw conclusions about the findings. Tell employees the following: The organization the interviewer represents The purpose of your investigation The information they provide is generally privileged from disclosure outside the corporation, unless the corporation chooses to waive that protection They should keep the
Clifford Chance: Antitrust Review - September 2002
Clifford Chance: Antitrust Review - November 2003
Cooley Godward: The Sarbanes-Oxley Act of 2002
Aimed at restoring investor trust and confidence in the public markets, the Act seeks to prevent future acts of corporate and accounting fraud through a variety of oversight and deterrence measures and to address perceived inequities arising out of the recent Enron and WorldCom scandals. The Act also increases SEC appropriations by $776 million to provide enhanced oversight and enforcement of securities laws
Epstein Becker & Green: PDF
...ournal of Health Care Compliance. n response to a variety of events and governmental initiatives, many health care organizations adopted corporate compliance programs in the 1990s
Gardner Carton: What Does it Mean if Your Company Receives A Federal Gr...
Gardner Carton: Enforcing President Bush''s Call for A New Et...
Gray Cary: Criminal Cases Heighten Need for Document Retention Pol...
...writeln('\'This will scan for plugins for all versions of Internet Explorer that have a VBscript engine version 2 or greater. writeln('\'This includes all versions of IE4 and beyond and some versions of IE 3
Morris: Sarbanes-Oxley Act of 2002
Because different aspects of this legislation become effective at different times and some aspects are subject to further SEC rule making, the first section is a Timeline and Action Item Summary. This section provides a chronologically-organized list of when the various provisions become effective together with suggested actions to be taken for compliance with the Act
Sidley Austin: Sarbanes-Oxley Act of 2002 - General
SARBANES-OXLEY ACT OF 2002. On July 25, 2002, the U.S. Senate and the U.S. House of Representatives each passed, by overwhelming majorities, the Sarbanes-Oxley Act of 2002, sweeping new legislation with the stated purpose of protecting investors by improving the accuracy and reliability of corporate disclosures made pursuant to the Federal securities laws
Stroock: U.S. Sentencing Commission: Proposed Amendment to the S...
Notice of Proposed Temporary, emergency amendments - BAC2210-40/2211-01 (Nov 27, 2002) BAC2210-40/2211-01 UNITED STATES SENTENCING COMMISSION Sentencing Guidelines for United States Courts AGENCY: United States Sentencing Commission ACTION: Notice of proposed temporary, emergency amendments to sentencing guidelines, policy statements, and commentary. Notice of intent to repromulgate temporary, emergency amendments as permanent, non-emergency amendments
Stroock: SEC Issues Rules for Arthur Andersen LLP Audit Clients
In response to the March 14, 2002 indictment of Arthur Andersen LLP ("Andersen") on obstruction of justice charges, the Securities and Exchange Commission (the "SEC") has issued temporary final rules and final rules (collectively, the "Rules") to "assure a continuing and orderly flow of information to investors and the U.S. capital markets," and to provide clients of Andersen "time to address any timing constraints and temporary disruptions they may face" in connection with their audited
Stroock: "Second Bite at the Apple: Successive and Concurre...
In other words: One investigation; one prosecution office; one indictment. Isn't it still so under the Double Jeopardy Clause of the U.S. Constitution
Stroock: The Sarbanes-Oxley Act
One Hundred Seventh Congress of the United States of America. AT THE SECOND SESSION Begun and held at the City of Washington on Wednesday, the twenty-third day of January, two thousand and two
Stroock: The Sarbanes-Oxley Act - House and Senate Conference Co...
107TH CONGRESS 2d Session " HOUSE OF REPRESENTATIVES ! REPORT 107610SARBANES-OXLEY ACT OF 2002JULY 24, 2002.--Ordered to be printedMr. OXLEY, from the committee of conference, submitted the following CONFERENCE REPORT [To accompany H.R. 3763] The committee of conference on the disagreeing votes of the two Houses on the amendment of the Senate to the bill (H.R. 3763), to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and
