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On Thursday, April 19, 2012, the Federal Reserve Board issued a policy statement clarifying the manner in which the Volcker Rule prohibitions would apply and would be enforced during the statutory two-year Conformance Period.  Despite public statements by...

A confidential staff draft of the preamble to the federal financial agencies' joint rulemaking on the Volcker Rule was "leaked" to the press earlier this week, dominating the headlines and leading to a great deal of discussion about what the document...

On Tuesday, October 11, the Federal Reserve and the Federal Deposit Insurance Corporation (the "FDIC") unveiled proposed regulations to implement the Volcker Rule (the "Proposed Regulations") that will be issued jointly by the Federal Reserve, the FDIC, the Office...

On November 28, 2012, Federal Reserve Board Governor Daniel Tarullo provided a preliminary glimpse at new requirements to be imposed on non-US banks that have US banking operations.  A proposed rule to be published by the Federal Reserve within weeks will...

Today, the U.S. Department of Justice ("DOJ") and the U.S. Securities and Exchange Commission ("SEC") (collectively, the "Agencies") released "A Resource Guide to the U.S. Foreign Corrupt Practices Act" (the "Guide"). ...

In recent months, two district courts have addressed the issue whether employees who claim they were retaliated against for internally reporting violations of the Foreign Corrupt Practices Act can bring a private civil lawsuit against their former employers under...

On November 15, 2011, the US Securities and Exchange Commission ("SEC") Office of the Whistleblower ("Office") issued the Annual Report on the Dodd-Frank Whistleblower Program for Fiscal Year 2011 ("Report"). The Report provides...

Former Magistrates' Court clerk Munir Patel has today become the first person to be sentenced under Bribery Act 2010 ("the Act"). Mr Patel has been jailed for 6 years, having pleaded guilty last month to requesting or receiving a bribe (an offence...

On May 25, 2011, the US Securities and Exchange Commission ("SEC") by a divided vote of 3-2 adopted final rules implementing the controversial whistleblower provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act").1 The Dodd-Frank...

Following the first trial and jury conviction of a corporate defendant under the Foreign Corrupt Practices Act, the Department of Justice has another cudgel to beat back challenges to its aggressive enforcement efforts. Alternatively, companies considering raising...