SEC Enforcement After Kokesh

The Supreme Court’s ruling in Kokesh v. SEC is of monumental significance to companies that are struggling to track down witnesses and documents in internal investigations of anti-corruption issues that can go back decades. It would be a mistake, however, to assume that the ruling will result in a more permissive and lenient regulatory environment. On the contrary, the SEC may end up pushing much harder to settle enforcement actions on an expedited schedule, and the decision may mean that more companies end up in administrative proceedings, having to make their case on the SEC’s “home turf.” We analyze the case and how it may impact SEC enforcement going forward. See “Jay Holtmeier of WilmerHale Discusses What’s to Come After a Blockbuster Year of FCPA Enforcement” (Jan. 18, 2017).

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