The U.S. Department of Justice announced last week that Olympus Corporation of the Americas (OCA) agreed to pay $646 million to resolve three cases relating to its longstanding practice to bribe doctors and hospitals in the U.S. and abroad. The company entered deferred prosecution agreements (DPA) related to violations of the Anti-Kickback Statute (AKS) and
Sharper Teeth for Sanctions Enforcement
The current UK sanctions enforcement regime is a complicated web reflecting the requirements of UN Security Council Regulations, EU Regulations, and UK Primary and Secondary Legislation. Penalties for breaches of sanctions are generally set out in the various statutory instruments that implement particular sanctions.
The UK Government, through the Policing and Crime Bill that is
Freddie Mac and Fannie Mae Not Considered Government Agents Under the FCA
In United States ex rel. Adams v. Aurora Loan Servs., Inc., 2016 WL 697771, — F.3d —- (9th Cir. Feb. 22, 2016), the Ninth Circuit found that Fannie Mae and Freddie Mac were not government entities for purposes of the False Claims Act. In so holding, the Ninth Circuit provided further clarity to the
CFPB Poised to Continue Focused Scrutiny of Indirect Auto Lenders
Earlier this month, the Consumer Financial Protection Bureau (CFPB) announced a joint enforcement action with the Department of Justice (DOJ) against Toyota Motor Credit Corporation (TMCC), an indirect auto lender, which, among other things, requires TMCC to pay $21.9 million in restitution to affected borrowers. Indirect auto lending is the most common type of auto
The SFO’s ‘Seize and Sift’ Procedure
R (on the application of Colin McKenzie) v Director of the Serious Fraud Office saw an unsuccessful attempt to judicially review the SFO’s currently in-use procedure for dealing with material that it has seized, and which may contain content subject to legal professional privilege (“LPP”).
This ‘procedure’, set out in the SFO’s Operational Handbook, provides
SEC Provides Guidance on 2016 Examination Areas of Focus
On Monday, January 11, 2016, the Securities and Exchange Commission (SEC) announced its Office of Compliance Inspections and Examinations’ (OCIE) areas of focus for 2016, which include:
- protecting retail investors and investors for retirement;
- assessing issues related to market-wide risks; and
- use of its ability to analyze data to identify and examine registrants that may
Conducting Internal I-9 Audits – ICE and DOJ-OSC Provide Joint Guidance
A company’s I-9 file, which often goes unnoticed by all but a few HR professionals, can carry significant risk. Form I-9 files often serve as landmines for fines, penalties, and sanctions. Companies can mitigate these risks by conducting periodic Form I-9 audits.
This week, the Department of Justice’s Civil Rights Division and the Department of Homeland
Proposed Changes to Form I-9 Create New Compliance Questions
Employers take note: a new Form I-9 is in the making. U.S. Citizenship and Immigration Services (USCIS), part of the Department of Homeland Security, announced on November 24, 2015, that it is seeking public comment on the various proposed changes. The proposed changes will have far-reaching impact because all employers are required to complete and
CFPB’s Cordray Issues Warning to Vendors
Cons
umer Financial Protection Bureau (CFPB) Director Richard Cordray recently issued a warning to mortgage technology vendors for a lack of compliance with the CFPB’s TILA-RESPA Integrated Disclosure (TRID) Rule. Addressing the Mortgage Bankers Association’s Annual Convention and Expo, Cordray said he was “disturbed” by vendors’ lack of effort to implement the rule, despite having
The CFPB Strongly Scrutinizes MSAs Under RESPA
The Consumer Financial Protection Bureau (CFPB) recently provided guidance discouraging mortgage industry participants from entering into marketing services arrangements (MSAs). An MSA is an agreement under which a settlement service provider, such as a real estate broker, agrees to market and promote another provider’s services − such as that of a title company − in