In early 2023, the U.S. Department of Justice and U.S. Department of Commerce launched the Disruptive Technology Strike Force to target illicit actors, strengthen supply chains and protect critical technology assets from theft by nation-state adversaries.
Read on to learn about recent federal prosecutions initiated by the Strike Force, targeting theft of trade secrets and…
On June 1, 2023, the Supreme Court unanimously ruled in favor of whistleblower plaintiffs (referred to as “relators”) in consolidated False Claims Act (“FCA”) cases in a decision that clarified the application of the FCA’s knowledge requirement. In United States ex rel. Schutte v. SuperValu Inc., the Court held that the FCA reaches defendants who…
On May 2, the U.S. Department of Justice announced the indictment of two New York state pharmacy owners for their participation in an alleged $29 million healthcare fraud scheme. They face charges of conspiracy to commit healthcare fraud, conspiracy to commit money laundering and conspiracy to pay illegal healthcare kickbacks and bribes.
Read on for…
On May 3, the 7th U.S. Circuit Court of Appeals sided with the policyholder, resolving an insurance coverage dispute over a $100 million settlement related to claims under the federal Anti-Kickback Statute and the federal False Claims Act.
Read on for analysis of this decision, which tries to clarify the difference between compensatory damages, which…
On May 18, 2023, during an “Ask FINRA Senior Staff” panel held as part of FINRA’s 2023 Annual Conference, Christopher Kelly, Acting Head of FINRA Enforcement, provided a first look into how FINRA Enforcement intends to address CAT reporting violations as the industry nears the three-year anniversary of the first Phase of CAT go-live and…
During FINRA’s 2023 Annual Conference held on May 16-18, 2023, several panels provided insight into how FINRA is currently using CAT data for market surveillance and how FINRA plans to use the data going forward to both develop more sophisticated surveillance reviews and further promote industry-wide efficiencies. …
On May 17, 2023, as part of FINRA’s 2023 Annual Conference, staff from FINRA’s Market Regulation and Member Supervision Departments, along with representatives from FINRA CAT, participated in a panel entitled “Consolidated Audit Trail (CAT): What You Need to Know.”[1] …
On Feb. 28, a federal jury in the District of Minnesota found the Cameron-Ehlen Group, d/b/a Precision Lens, and its founder and owner guilty of paying kickbacks to ophthalmic surgeons in violation of the False Claims Act and Federal Anti-Kickback Statute between 2006 and 2015.
Read on for details about this case, which illustrates the…
Federal Student Aid’s Office of Enforcement announced a “secret shoppers” program to evaluate a college or university’s recruitment, enrollment, financial aid and other practices. The secret shoppers program will focus on student recruitment and enrollment practices, which may include the practices of online program managers.
Read on for details about this initiative, including types of…
In the wake of Silvergate’s collapse, Silicon Valley Bank entering receivership and another bank following in SVB’s footsteps, startups and other companies directly affected by these events are struggling to manage their payroll and other obligations while credit facilities are frozen. Although depositors likely will be fully protected and most businesses can expect to avoid…
