Sandeep Savla (US)

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US DOJ announces corporate criminal enforcement policy revisions

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

US SEC prevented from expanding fraudulent scheme liability

In a decision with significant implications for securities litigation and enforcement, the United States Court of Appeals for the Second Circuit recently rebuffed an attempt by the US Securities and Exchange Commission (SEC) to broaden the scope of “scheme liability” under Section 10(b) of the Securities Exchange Act of 1934 and Section 17(a) of the … Continue Reading

Not Fair, But Not False

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
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