Following Deputy AG Lisa Monaco’s remarks at the White Collar Conference last year, the Department of Justice (DOJ) created a Corporate Crime Advisory Group to revise DOJ’s Corporate Criminal Enforcement Policies. On September 15, 2022, Monaco announced the group’s first major round of revisions. The revisions reiterate a focus on individual accountability, voluntary disclosure, and … Continue Reading
Our latest episode of Regulation Tomorrow Plus is now available to stream and download on ‘Apple podcasts‘ and ‘Spotify‘ In this podcast Katie Stephen, Co-Head of our Contentious Financial Services Group in London, and Celia Cohen, Co-Head of Financial Institutions in the United States, discuss the key regulatory risks for financial services firms in their … Continue Reading
Investors are increasingly seeking sustainable financial products and ESG investing, traditional investing combined with sustainable or otherwise philanthropic aims, has seen huge growth in recent years. Regulated firms are also seeking to improve their own ESG performance more generally to build stronger relationships with their stakeholders, including those who use their services. Whilst the growing … Continue Reading
On May 25, 2022, the US Securities and Exchange Commission proposed new rules to enhance the regulatory framework for disclosures concerning investment funds and investment advisers’ environmental, social and governance-related (ESG) investing strategies (the Proposed Rules). If adopted, the Proposed Rules would require SEC-registered advisers to include ESG factors and strategies for investors in fund … Continue Reading
The US Securities and Exchange Commission (SEC) has been increasingly vocal about its view that environmental, social and governance (ESG) disclosures can be material to investors. To help combat ESG disclosure violations, the SEC created a Climate and Risk Task Force within the Division of Enforcement. As a result of the Task Force’s efforts, on … Continue Reading
On January 27, 2022, the United States Court of Appeals for the Second Circuit acquitted two former traders, Matthew Connolly and Gavin Campbell Black, who had been convicted by a jury for wire fraud as well as conspiracy to commit bank and wire fraud in a scheme to manipulate the London Interbank Offered Rate (“LIBOR”). … Continue Reading
A new episode of RT Plus is available now to stream and download. This episode features Celia Cohen and Samuel Ramer, both of whom are partners in NRF’s US practice. This podcast will be of particular interest to US based firms but also to non-US firms that have some dealings with the US. In this … Continue Reading
One of the key risks that financial institutions both sides of the pond are currently grappling with relates to the use by employees of “off-channel” communications. These are typically communications not monitored by the institution and not retained under various regulators’ business records requirements. Despite most companies having a policy that prohibits the use … Continue Reading
The United States Department of Justice (DOJ) has made it clear: fighting corporate crime is one of the administration’s top priorities. This week, as part of DOJ’s coordinated roll-out of a suite of new corporate-related policies, deputy attorney general Lisa Monaco issued a memorandum that significantly revises DOJ corporate criminal enforcement policies and practices. In … Continue Reading
The latest episode of the Regulation Tomorrow Podcast is out now to stream and download. In this episode we hear from Celia Cohen in New York who discusses privilege, particularly in the context of internal investigations; Joe Smallshaw and Catherine Pluck discuss the Frensham case and how the FCA treats non-financial misconduct; and Lisa Lee … Continue Reading
Remote working has accelerated the merger of work and private data, particularly on mobile phones and instant messaging services such as WhatsApp. While employees are performing their jobs, mobile access may be putting their employers at risk – because work-related communications on unapproved platforms are frequently not preserved in accordance with regulatory requirements (where applicable), … Continue Reading
A year ago we wrote about the risks and challenges of using of WhatsApp at work. Twelve months on and we have seen a number of developments including recent guidance from the FCA which stated that it has acted against individuals and firms for misconduct which involved the use of WhatsApp and other social media … Continue Reading
