DOJ is pushing hard for voluntary disclosures and urging companies to take advantage  of its Voluntary Disclosure Program.  The carrot is significant — a declination in exchange for cooperation, remediation and disgorgement. We often hear about the benefits of voluntary disclosure involving FCPA case.  But the program extends to other crimes — fraud being a significant area. In a significant fraud case, Proterial Cable America,...

The Securities and Exchange Commission is catching up to DOJ.  Not in enforcement but in transparency.  After years of criticism, the Justice Department has set the gold standard for transparency and providing guidance on enforcement and compliance.  The SEC needs to elevate transparency and offer new guidance to the public and industry.  It is even more important for the SEC to provide guidance given the...