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    May 8, 2024

DOJ’s New VSD Program Offers NPAs to Individuals Who Can Help Catch Bigger Fish

In what feels like a blitz of policy announcements, the DOJ recently introduced yet another program aimed at encouraging people to bring evidence of wrongdoing to its door through voluntary self-disclosure. On April 15, 2024, the DOJ’s Criminal Division announced a new Pilot Program that offers wrongdoers NPAs if they turn themselves – and their co‑conspirators – in. To receive an NPA, individuals must meet several specific criteria, which raises the question: Is it worth the risk? We spoke with experts in the field to find out. See our two-part series on the DOJ’s intention to launch a whistleblower program: “What Will It Look Like?” (Mar. 27, 2024), and “What Does It Mean for Whistleblowers?” (Apr. 10, 2024).

E.U.’s Corporate Sustainability Due Diligence Directive Demands Environmental and Social Compliance

An E.U. directive passed in 2024 requires many large companies around the world to address human rights and environmental issues in their operational chains, including subsidiaries and contract partners. The Corporate Sustainability Due Diligence Directive (CSDDD) is to become part of Member States’ laws over the coming two years, with a few countries adapting existing statutes that already cover the same concerns. This article explores the implications of the CSDDD for large business entities that have an E.U. dimension to their work and for compliance professionals. See “Supply Chain Regulations Call for Increasing Due Diligence” (Dec. 6, 2023).

Common Law Fraud and SEC v. Jarkesy: The Key Issue Underlying the Questions Presented

In SEC v. Jarkesy, the U.S. Supreme Court is poised to determine the constitutionality of the SEC’s practice of enforcing the securities laws through administrative proceedings. How the Court will answer that question is unclear, but whatever the Court decides will have far-reaching implications. Beyond the obvious repercussions for SEC proceedings and the administrative state generally, the case also offers the Court a chance to weigh in on another significant question: What are the contours of common law fraud? This guest article by MoloLamken attorneys Eric R. Nitz and Kenneth E. Notter III discusses the proceedings before the Court, how the Court appears likely to rule and the implications the Court’s decision may have on SEC enforcement efforts – and fraud actions generally – against private fund managers. See “Agency Power and Adjudication: The Government Seeks Supreme Court Review of Jarkesy v. SEC” (Jun. 21, 2023).

Embedding Compliance Across the ESG Value Chain

Climate disclosures, ESG and sustainability were the subject of several sessions at Compliance Week’s 19th annual national conference held in April 2024 in Washington, D.C. One panel, moderated by Russell Dover of Diligent, delved into growing challenges that companies are facing amidst the plethora of emerging U.S. and global rules, laws, directives and standards. Panelists included Michele Cahn, vice president of global government affairs, CSR and compliance at Xerox; Hemma R. Lomax, global head of integrity, governance, risk and compliance at Zendesk; and Matthew Sekol, sustainability global black belt at Microsoft and author of the book ESG Mindset. This article distills some of their insights. See “ABC Trends in 2023 Include ESG” (Feb. 15, 2023).

Crafting Effective Mobile Device Policies to Satisfy Regulatory Expectations

Government authorities expect companies to have appropriate controls over communications by text and messaging app. In recent years, U.S. regulators have imposed billions of dollars in penalties on financial services firms for failing to maintain records of electronic communications in accordance with the federal securities laws. This article, synthesizing insights offered by Miller & Chevalier attorneys during a PLI program, reviews regulators’ expectations around companies’ management of mobile device communications and offers instructions on how companies can craft and implement effective mobile device policies. See “Effective and Compliant Employee Monitoring (Part One of Two)” (May 30, 2018), and Part Two (Jun. 13, 2018).

Former Federal Prosecutor Joins Arnold & Porter’s White Collar Defense & Investigations Practice

Arnold & Porter has announced that Lee Cortes has joined the firm’s white collar defense & investigations practice as a partner, resident in the firm’s Newark and New York offices. Cortes is a former Executive Assistant U.S. Attorney for the District of New Jersey. For insights from Arnold & Porter, see “How Deputy AG’s Focus on Clawbacks and National Security Impacts Enforcement and Companies’ Compliance Efforts” (Oct. 25, 2023); and “DOJ Incentivizes Self-Disclosure Once More With Guidance for U.S. Attorneys’ Offices” (Mar. 15, 2023).

Ropes & Gray Adds Former Federal Prosecutor As White-Collar Partner in Boston

Ropes & Gray has announced that former Assistant U.S. Attorney Sarah E. Walters has joined its litigation & enforcement practice as a partner in the firm’s Boston office. She arrives from McDermott Will & Emery. For insights from Ropes & Gray, see our two-part series on the new Russia restrictions: “Agency Cooperation and Industry Focus” (Mar. 13, 2024), and “International Cooperation and Risk Mitigation” (Mar. 27, 2024).

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Spotlight on Trailblazing Women

To mark International Women’s Day 2024, women editors and reporters of ION Analytics interviewed outstanding women in the industries and jurisdictions we cover. In this part, Jill Abitbol, Managing Editor of the Cybersecurity Law Report and Anti-Corruption Report, features notable women in data privacy, cybersecurity, white collar defense, compliance and anti-corruption law, including Christina Montgomery, Leslie Shanklin, Palmina Fava, Alexandra Ross and Lucinda Low. Enjoy reading their inspiring remarks here.