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USA - October 19 2010
A SEC Administrative Law Judge ("ALJ") recently held that an in-house lawyer at a broker-dealer with no direct supervisory authority over a retail financial advisor was, nonetheless, that financial advisor's "supervisor" under the federal securities laws.
USA - January 6 2010
Examination of US regulatory enforcement actions and criminal investigations and prosecutions in 2009 suggests that the Securities and Exchange Commission (SEC) and United States Department of Justice (DOJ) have intensified their focus on senior executives and are targeting them even in the absence of evidence of actual participation in any misconduct.
USA - October 7 2009
Earlier this year we circulated a memorandum discussing the implications of the suppression order issued in United States v. Nicholas, 606 F. Supp. 2d 1109 (C.D. Ca. Apr. 2009), on the administration of Upjohn warnings.
USA - May 8 2009
A recent decision calls into question whether an Upjohn warning given by a company's lawyer to a company employee during an internal investigation is sufficient to protect the company's privilege, particularly if the company's lawyer had a prior attorney-client relationship with the employee or represents the employee concurrently.
USA - February 11 2009
A recent decision out of the Northern District of Illinois provided a more expansive application of the attorney-client privilege to communications with in-house counsel than other courts have been willing to adopt.
