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6 Apr, 2022

OFAC Settles with S&P Global for $78,750 for Violations of Ukraine-Russia Sanctions Program

Prosecutors and regulators are scouring their files for enforcement actions – criminal and civil – for violations of the 2014 Ukraine-Russia Sanctions Program.  The message being sent is clear – do not violate any sanctions against Russia, whether the initial round of restrictions in 2014 in response to Russia’s annexation of Crimea, or the broader sanctions recently implemented in response to Russia’s broader invasion of...

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5 Apr, 2022

DOJ’s Antitrust Chief Outlines Aggressive Approach to Enforcement Against Digital Market Companies

A new traffic cop is presiding over the global economy.  This is not a surprise.  Aggressive antitrust enforcement is now bi-partisan, and the first target – digital markets has been the focus of both Democrats and Republicans. Jonathan Kanter, the new Assistant Attorney General for the Antitrust Division, gave an important speech at an international meeting outlining the theoretical underpinning of the need for robust...

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4 Apr, 2022

US Coal Company VP Arrested and Charged with FCPA, Money Laundering and Wire Fraud Violations

The Justice Department announced the arrest and indictment of Charles Hunter Hobson for violating the FCPA, money laundering and receiving kickbacks arising from a bribery scheme to pay government officials in Egypt in exchange for contracts for coke and chemicals with Al Nasr, an Egyptian state-owned company. Last year, Frederick Cushmore, the former VP and head of International Sales at Corsa Coal Corporation, pleaded guilty...

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3 Apr, 2022

DOJ Issues Declination to Global Insurance Company Under FCPA Enforcement Policy

The Justice Department continues its enforcement “silence” with no major corporate prosecutions announced this year.  It is an interesting question but it appears that the wheels have ground to a halt, with one major exception – prosecutors are bringing cases against individuals.  Inside the Justice Department corporate criminal FCPA enforcement has been held up. For FCPA practitioners and commentators, that leaves individual cases and corporate...

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31 Mar, 2022

Putin’s Puppets Pick on Peppa Pig: Intellectual property rights are collateral damage in the economic war between Russia and the nations supporting Ukraine

Jessica Sanderson, Partner at The Volkov Law Group, joins us for an interesting posting on the impact of Russia sanctions on intellectual property. Jessica can be reached at [email protected]. As we’ve reported elsewhere in our blog, the U.S., EU, and other nations recently have enacted significant economic sanctions against Russian individuals and entities in response to Russia’s invasion of Ukraine. Russia is striking back, and...

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30 Mar, 2022

Interpreting OFAC Sanctions: The Fine Line Between Compliance and Evasion

Matt Stankiewicz, Partner at The Volkov Law Group, joins us for a posting on compliance with OFAC Sanctions. Matt can be reached at [email protected]. Unsurprisingly, we’ve been fielding a significant number of inquiries regarding the latest Russian sanctions.  Most companies seek black and white answers – what can we do and what can’t we do.  However, sanctions are very rarely, if ever, that black and...

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29 Mar, 2022

Boeing Technical Pilot Acquitted on Criminal Charges from 737 Max Safety Scandal

The Department of Justice criminal prosecution of Mark Forkner, chief technical pilot at Boeing responsible for the 737 Max, ended in quick acquittal.  DOJ prosecutors suffered an embarrassing loss in an attempt to hold Forkner responsible for misleading FAA officials on the training level required for pilots flying the 737 MAX. DOJ’s loss ends its prosecutions stemming from the Boeing 737 Max safety scandal.  In...

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27 Mar, 2022

DOJ Charges Russian Officials for Two Historical Hacking Campaigns

The Justice Department continues to prosecute Russian-related crimes.  Since the Ukraine Crisis, DOJ has steadily been announcing criminal charges against defendants connected to Russia.  In its most recent action, DOJ unsealed two indictments charging four Russian nationals who were employed by the Russian government with two separate computer hacking conspiracies that targeted the global energy sector between 2012 and 2018.  In sum, these hacking campaigns...

General

24 Mar, 2022

The Power of a Corporate Mission, Values-Based Leadership and the “S” of ESG

The ESG movement presents numerous opportunities for organizations to promote and improve overall performance.  By injecting the important focus on “sustainability,” organizations can take a broader view of their respective corporate missions to advance numerous objectives, including the financial bottom line. Under “traditional” economic analysis (e.g. Milton Friedman and a shareholder-interests only), a corporation’s sole mission was to increase shareholder value.  The market rules and...

General

23 Mar, 2022

FinCEN Settles with USAA Federal Savings Bank for $140 Million for Willful AML Violations

FinCEN enforcement actions for anti-money laundering violations are often interesting because of the scope of violations and the large penalties imposed.  For most financial institutions, CCOs read these enforcement actions with an eye to distinguishing their own AML programs from the target involved in the enforcement action.  I would urge some caution here – it is easy to breathe a sigh of relief and whisper...

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