Related Resources

Lorin Reisner to Participate in Securities Enforcement Forum 2020 Oct 28, 2020

Events Lorin Reisner to Participate in Securities Enforcement Forum 2020 Litigation partner Lorin Reisner will be featured as a panelist in the annual Securities Enforcement Forum. Lorin’s panel is entitled “Whistleblower Update – The Impact on Corporations and SEC Enforcement.”

Supreme Court Holds That CFPB’s Structure Is Unconstitutional Jul 01, 2020

Publications Supreme Court Holds That CFPB’s Structure Is Unconstitutional In Seila Law v. Consumer Financial Protection Bureau, the Supreme Court recently held that the structure of the CFPB violates the constitutional separation of powers. One of the most important separation-of-powers cases in recent…

DOJ Antitrust Division and SEC Sign Memorandum of Understanding on Cooperation Jun 24, 2020

Publications DOJ Antitrust Division and SEC Sign Memorandum of Understanding on Cooperation On June 22, the DOJ’s Antitrust Division and the SEC announced that they have signed a memorandum of understanding to enhance cooperation between the two agencies. Beyond continuing cooperation in rulemaking, investigations and…

U.S. Supreme Court Limits Standing for ERISA Plan Participants to Sue for Breach of Fiduciary Duties Jun 11, 2020

Publications U.S. Supreme Court Limits Standing for ERISA Plan Participants to Sue for Breach of Fiduciary Duties In Thole v. U.S. Bank, the Supreme Court held that participants in a defined-benefit pension plan governed by ERISA lacked standing to sue for breaches of fiduciary duties if they had not suffered personal financial injury.

DOJ 2020 Guidance for Evaluating Corporate Compliance Incorporates Feedback From Business and Compliance Communities Jun 08, 2020

Publications DOJ 2020 Guidance for Evaluating Corporate Compliance Incorporates Feedback From Business and Compliance Communities The DOJ’s Criminal Division released updated guidance regarding the manner in which prosecutors evaluate the effectiveness of corporate compliance programs. The guidance makes clear that companies should continuously update their…

Court Holds that Syndicated Bank Loan Is Not a “Security” May 26, 2020

Publications Court Holds that Syndicated Bank Loan Is Not a “Security” Federal and state securities laws generally apply only to instruments that qualify as “securities.” The question of whether a particular instrument is a security, therefore, can have significant and far-reaching consequences. Nearly…

SIFMA Successfully Resolves Landmark SEC Proceeding With National Securities Exchanges May 13, 2020

Client News SIFMA Successfully Resolves Landmark SEC Proceeding With National Securities Exchanges Representing the U.S. broker-dealer industry and its industry organization, Securities Industry and Financial Markets Association (SIFMA), Paul, Weiss secured a highly favorable outcome in an unusual, high-stakes liability dispute…

Paul, Weiss Secures Release of Wrongfully Convicted Pro Bono Client May 04, 2020

Client News Paul, Weiss Secures Release of Wrongfully Convicted Pro Bono Client U.S. District Judge Leon Jordan of the Eastern District of Tennessee ordered the release of Ronnie Cooper, a federal inmate convicted in 2010 based on his alleged participation in a drug trafficking ring and sentenced to 30 years in…

DOJ Announces Preliminary Inquiry into Potential Fraud in the Paycheck Protection Program May 05, 2020

Publications DOJ Announces Preliminary Inquiry into Potential Fraud in the Paycheck Protection Program A senior DOJ official recently stated publicly that the DOJ has initiated a preliminary inquiry into potential fraud in the CARES Act’s Paycheck Protection Program and has already found possible fraud among businesses seeking relief.

Second Circuit Denies Rehearing in Key Insider Trading Case Apr 13, 2020

Publications Second Circuit Denies Rehearing in Key Insider Trading Case In denying defendants’ petition for rehearing in United States v. Blaszczak, the Second Circuit firmly established potential liability for insider trading in the criminal context even where the original “tipper” receives no personal…

White-Collar Enforcement Priorities in the Wake of COVID-19 Mar 31, 2020

Publications White-Collar Enforcement Priorities in the Wake of COVID-19 The DOJ and SEC have signaled an intention to focus on misconduct related specifically to the coronavirus, at least temporarily. Combined with ongoing practical limitations, that focus has slowed down traditional white-collar…

Ring LLC Faces a Proposed Class Action Alleging Camera Doorbells Should Incorporate Enhanced Cybersecurity Features Feb 03, 2020

Publications Ring LLC Faces a Proposed Class Action Alleging Camera Doorbells Should Incorporate Enhanced Cybersecurity Features On December 26, 2019, Amazon and Ring LLC were named as defendants in a putative class action filed in the U.S. District Court for the Central District of California by plaintiffs alleging claims of over $5 million.

FCPA Enforcement and Anti-Corruption Developments - 2019 Year in Review Jan 24, 2020

Publications FCPA Enforcement and Anti-Corruption Developments - 2019 Year in Review In this annual review, we reflect on the most significant anti-corruption and FCPA enforcement and policy trends of 2019 and share our insights on developing U.S. and global anti-corruption efforts in 2020.

Paul, Weiss Partners and Counsel Contribute Article on Cryptocurrency to DirectorCorps Dec 01, 2019

Publications Paul, Weiss Partners and Counsel Contribute Article on Cryptocurrency to DirectorCorps Paul, Weiss partners Christopher Boehning, Roberto Gonzalez, Jeh Johnson, Claudine Meredith-Goujon, Lorin Reisner, Jeannie Rhee and Richard Tarlowe and counsel Steven Herzog published “Cryptocurrency Regulation Around the World: A…

Samsung Heavy Industries Agrees to Pay $75 Million to DOJ and Brazilian Authorities to Resolve FCPA Charges Dec 05, 2019

Publications Samsung Heavy Industries Agrees to Pay $75 Million to DOJ and Brazilian Authorities to Resolve FCPA Charges On November 22, 2019, the Department of Justice announced that it had reached a resolution with Samsung Heavy Industries Company Ltd. (“SHI”) relating to a scheme to pay millions of dollars in bribes to officials of Petróleo…

Jury Convicts Foreign National of FCPA Violations under Agency Theory Nov 21, 2019

Publications Jury Convicts Foreign National of FCPA Violations under Agency Theory On November 8, 2019, a Connecticut jury found Lawrence Hoskins, a British national and former executive of the French power and rail transportation company, Alstom S.A., guilty of participating in a scheme to bribe Indonesian…

Supreme Court to Consider if the SEC May Collect Disgorgement in Civil Enforcement Proceedings Nov 04, 2019

Publications Supreme Court to Consider if the SEC May Collect Disgorgement in Civil Enforcement Proceedings On November 1, 2019, the Supreme Court granted certiorari in Liu v. Securities and Exchange Commission, No. 18-1501, to review the question of whether the Securities and Exchange Commission (“SEC”) may obtain disgorgement from a court …

Recent Cyber Attacks Target Asset Management Firms Oct 28, 2019

Publications Recent Cyber Attacks Target Asset Management Firms A recent flurry of cyber attacks on asset managers should remind asset management firms and other financial institutions that they are attractive targets for cyber-exploitation and need to remain vigilant and institute appropriate…

DOJ Announces Guidance for “Inability-to-Pay” Claims Oct 10, 2019

Publications DOJ Announces Guidance for “Inability-to-Pay” Claims On October 8, 2019, the Criminal Division of the U.S. Department of Justice released guidance on how federal prosecutors should evaluate claims that corporations are unable to pay a proposed fine or monetary penalty.

SEC Concludes the 2018-19 Fiscal Year with Four FCPA Enforcement Actions Oct 08, 2019

Publications SEC Concludes the 2018-19 Fiscal Year with Four FCPA Enforcement Actions The SEC closed out its 2018-19 fiscal year by resolving four FCPA enforcement actions and assessing over $25 million in combined penalties, bringing the total number of SEC resolutions in 2019 to twelve.

Lorin Reisner to Speak at Securities Enforcement Forum Oct 23, 2019

Events Lorin Reisner to Speak at Securities Enforcement Forum Litigation partner Lorin Reisner will participate on a panel addressing “SEC Practice – Developments in Administrative Proceedings, Trials, Testimony, Wells Process, Settlements and More,” at the 2019 Securities Enforcement Forum.

New York Governor Signs Data Security Law Jul 31, 2019

Publications New York Governor Signs Data Security Law On July 25, 2019, New York Governor Andrew M. Cuomo signed into law a new data security law, the Stop Hacks and Improve Electronic Data Security (“SHIELD”) Act.

FCPA Enforcement and Anti-Corruption Developments: 2019 Mid-Year Review Jul 18, 2019

Publications FCPA Enforcement and Anti-Corruption Developments: 2019 Mid-Year Review Robust FCPA enforcement activity continued in the first half of 2019. The DOJ and the SEC—resolving four and five corporate enforcement actions, respectively—assessed a combined total of $1.5 billion in corporate penalties, of which…

Walmart Pays $282 Million for Failing to Maintain a Sufficient Anti-Corruption Compliance Program Jun 25, 2019

Publications Walmart Pays $282 Million for Failing to Maintain a Sufficient Anti-Corruption Compliance Program On June 20, 2019, the Department of Justice and the Securities and Exchange Commission announced long-awaited resolutions with Walmart, Inc. for violations of the books and records and internal accounting provisions of the Foreign…

New York DFS Creates New Cybersecurity Division May 29, 2019

Publications New York DFS Creates New Cybersecurity Division On May 22, 2019, the New York State Department of Financial Services (“DFS”) announced the creation of a new Cybersecurity Division, which it described as the “first of its kind at a banking or insurance regulator.”

DOJ Updated Guidance for Evaluating Corporate Compliance Programs Focuses on Effectiveness May 06, 2019

Publications DOJ Updated Guidance for Evaluating Corporate Compliance Programs Focuses on Effectiveness On April 30, 2019, the Criminal Division of the U.S. Department of Justice released updated guidance on how prosecutors evaluate the effectiveness of corporate compliance programs.

Lorin Reisner and Liza Velazquez to Participate in Trade Secrets Conference Feb 26, 2019

Events Lorin Reisner and Liza Velazquez to Participate in Trade Secrets Conference Litigation partners Lorin Reisner and Liza Velazquez will be featured participants in an upcoming conference on trade secrets protection, enforcement and litigation, in view of the increasing number of DTSA (Defend Trade Secrets Act) …

Lorin Reisner to Participate in Annual Securities Regulation Institute Jan 28, 2019

Events Lorin Reisner to Participate in Annual Securities Regulation Institute Litigation partner Lorin Reisner will participate in the 46th annual Securities Regulation Institute, hosted by the Northwestern Pritzker School of Law.

Anti-Spoofing Enforcement: 2018 Year in Review Jan 07, 2019

Publications Anti-Spoofing Enforcement: 2018 Year in Review The past year brought a number of significant developments in anti-spoofing enforcement under the Commodity Exchange Act (“CEA”), beginning with the January 29, 2018 coordinated statements of the Commodity Futures Trading Commission…

IMG College and Learfield Complete Merger Dec 31, 2018

Client News IMG College and Learfield Complete Merger In a deal bringing together two of sports’ largest multimedia rights and sponsorship businesses, Paul, Weiss represented IMG College, the collegiate division of Endeavor, in its merger with Learfield.

DOJ Announces New Standards for Corporate Cooperation Dec 05, 2018

Publications DOJ Announces New Standards for Corporate Cooperation The Department of Justice announced last week significant changes to its policies for granting corporations credit for cooperating with criminal investigations.

Lorin Reisner to Participate in PLI Pocket MBA Program Nov 20, 2018

Events Lorin Reisner to Participate in PLI Pocket MBA Program Lorin Reisner will speak on a panel at the Practising Law Institute’s 2018 Pocket MBA for Lawyers and Other Professionals. Lorin’s panel, “Regulatory and Legal Compliance in International Business and Trade,” will address regulatory…

Lorin Reisner Speaks at Securities Enforcement Forum Nov 01, 2018

Events Lorin Reisner Speaks at Securities Enforcement Forum Lorin Reisner moderated a panel at The Securities Enforcement Forum in Washington, D.C. on November 1.

Supreme Court Rules That SEC Administrative Law Judge Appointments Violate The Constitution Jun 22, 2018

Publications Supreme Court Rules That SEC Administrative Law Judge Appointments Violate The Constitution On June 21, 2018, the Supreme Court held in Lucia v. SEC, No. 17-130, that the process by which the Securities and Exchange Commission (SEC) selects administrative law judges (ALJs) violates the U.S. Constitution.

DOJ Issues New Policy on Coordination of Corporate Penalties to Address “Piling On” May 10, 2018

Publications DOJ Issues New Policy on Coordination of Corporate Penalties to Address “Piling On” Yesterday, Rod Rosenstein, Deputy Attorney General of the U.S. Department of Justice, announced a new policy, in the form of an addition to the United States Attorneys’ Manual (“USAM”), concerning the coordination of corporate…

Supreme Court Dismisses Microsoft Appeal as Moot After Passage of the CLOUD Act Apr 23, 2018

Publications Supreme Court Dismisses Microsoft Appeal as Moot After Passage of the CLOUD Act As reported in our earlier client memorandum, in February 2018, the U.S. Supreme Court heard argument in United States Microsoft Corp., a case concerning the government’s ability to compel U.S. service providers to disclose email…

U.S. Supreme Court Hears Oral Argument on Extraterritorial Reach of Email Search Warrants in Microsoft Case Feb 28, 2018

Publications U.S. Supreme Court Hears Oral Argument on Extraterritorial Reach of Email Search Warrants in Microsoft Case In a case that could have a major impact on how and where corporations store their customers’ electronic information, the U.S. Supreme Court heard oral arguments yesterday in United States v. Microsoft Corp. on the extraterritorial…

Leaders of SEC Enforcement Division Discuss Priorities and Recent Developments Feb 28, 2018

Publications Leaders of SEC Enforcement Division Discuss Priorities and Recent Developments Senior representatives of the SEC’s Enforcement Division recently discussed enforcement priorities, developments and other issues of current interest at the Practising Law Institute’s annual “SEC Speaks” event. Although the…

SEC Issues Updated Guidance on Cybersecurity Disclosure Feb 27, 2018

Publications SEC Issues Updated Guidance on Cybersecurity Disclosure The SEC recently provided updated guidance on cybersecurity-related disclosure obligations. We discuss the SEC’s new interpretive guidance, which seeks to assist companies in preparing disclosure concerning cybersecurity risks and…

Beyond Disgorgement: The Impact of Kokesh on the SEC’s Pursuit of Equitable Remedies Feb 23, 2018

Publications Beyond Disgorgement: The Impact of Kokesh on the SEC’s Pursuit of Equitable Remedies Since the Supreme Court ruled last June in Kokesh v. SEC that disgorgement claims are subject to a five-year statute of limitations, both lower courts and the SEC have grappled with questions the Court left unresolved, including…

U.S. Supreme Court Narrows Scope of Whistleblower Anti-Retaliation Protections Feb 22, 2018

Publications U.S. Supreme Court Narrows Scope of Whistleblower Anti-Retaliation Protections The Supreme Court held yesterday that individuals who have reported alleged misconduct internally, but not to the SEC, are not covered by the anti-retaliation provisions of the Dodd-Frank Act, resolving a circuit split on the…

Recent Decision Finds Waiver Based on “Oral Downloads” to the SEC Feb 14, 2018

Publications Recent Decision Finds Waiver Based on “Oral Downloads” to the SEC A federal magistrate judge in the Southern District of Florida recently ruled that a law firm had waived work product protection over notes and memoranda of witness interviews when it provided “oral downloads” of those interviews to…

Bulk of Wells Fargo Shareholder Derivative Suit Survives Motions to Dismiss Dec 04, 2017

Publications Bulk of Wells Fargo Shareholder Derivative Suit Survives Motions to Dismiss A judge in the Northern District of California recently allowed the bulk of claims to advance in the Wells Fargo shareholder litigation. Plaintiffs seek to hold the board liable for alleged sales practices that have received…

Lorin Reisner to Participate in Panel Discussion at IBA Conference Nov 16, 2017

Events Lorin Reisner to Participate in Panel Discussion at IBA Conference Litigation partner Lorin Reisner will speak on a panel at the International Bar Association’s Private Equity Transactions Symposium.

Recent Public Remarks by Co-Directors of SEC Enforcement Division Signal Potential Changing Enforcement Priorities Oct 31, 2017

Publications Recent Public Remarks by Co-Directors of SEC Enforcement Division Signal Potential Changing Enforcement Priorities Recent remarks by top officials at the SEC’s Division of Enforcement suggest changes in the enforcement environment, including a de-emphasis on the “broken windows” strategy focusing on minor violations and on settlements requiring…

Lorin Reisner to Speak on PLI Panel on Financial Improprieties and Fraud Nov 20, 2017

Events Lorin Reisner to Speak on PLI Panel on Financial Improprieties and Fraud Litigation partner Lorin Reisner will speak on a panel at the Practising Law Institute’s seminar titled “Pocket MBA 2017: Finance for Lawyers and Other Professionals.”

Divided Second Circuit Panel Overrules Prior Newman Insider Trading Decision Aug 25, 2017

Publications Divided Second Circuit Panel Overrules Prior Newman Insider Trading Decision On Wednesday, in United States v. Martoma, the United States Court of Appeals for the Second Circuit overruled its own 2014 decision in United States v. Newman and altered the standard for determining whether the personal benefit…

Client Alert: The Regulatory and Enforcement Outlook for Financial Institutions in 2017 Feb 22, 2017

Publications Client Alert: The Regulatory and Enforcement Outlook for Financial Institutions in 2017 Economic sanctions, anti-money laundering and cybersecurity remain at the forefront of U.S. regulatory priorities. In this memorandum, we survey major developments and trends in these areas in 2016 and early 2017 and provide an…

Client Alert: Federal Banking Agencies Issue Advanced Notice of Proposed Rulemaking on Enhanced Cybersecurity Standards Oct 21, 2016

Publications Client Alert: Federal Banking Agencies Issue Advanced Notice of Proposed Rulemaking on Enhanced Cybersecurity Standards On October 19, the Federal Reserve Board ("Board"), the Federal Deposit Insurance Corporation ("FDIC"), and the Office of the Comptroller of the Currency ("OCC") jointly issued an advanced notice of proposed rulemaking ("ANPR")…

Client Alert: New York DFS Proposes New Rules on Cybersecurity Sep 15, 2016

Publications Client Alert: New York DFS Proposes New Rules on Cybersecurity On Tuesday, the New York Department of Financial Services ("DFS") proposed new rules that would require covered financial institutions to establish and maintain cybersecurity programs designed to protect consumers and the…

New York DFS Finalizes Stringent Anti-Money Laundering and Sanctions Regulation Jul 01, 2016

Publications New York DFS Finalizes Stringent Anti-Money Laundering and Sanctions Regulation Following Maria Vullo's confirmation as Superintendent earlier this month, the New York Department of Financial Services ("DFS") yesterday finalized its closely watched proposed regulation on anti-money laundering (AML) monitoring and …

Client Alert: D.C. Circuit Reverses Rejection of Deferred Prosecution Agreement Apr 07, 2016

Publications Client Alert: D.C. Circuit Reverses Rejection of Deferred Prosecution Agreement It has been a longstanding practice for courts to defer to the judgment of the government regarding the terms of a deferred prosecution agreement ("DPA"). A key component of this deference is a willingness by courts to toll …

Client Alert: The CFPB Enters the Cybersecurity Arena with Its First Enforcement Action Mar 04, 2016

Publications Client Alert: The CFPB Enters the Cybersecurity Arena with Its First Enforcement Action On March 2, the Consumer Financial Protection Bureau entered an enforcement order against online payment platform Dwolla, Inc. for deceiving consumers about its data security practices and the safety of its online payment system. …