DOJ announced guilty pleas to antitrust violations by Citicorp, JPMorgan Chase & Co., Barclays PLC and The Royal Bank of Scotland for conspiring to rig the FOREX market and imposed fines and penalties in excess of $2.5 billion. At the same time, the Federal Reserve Bank announced that six banks would pay a total of $1.8 billion in fines for “unsafe and unsound practices” in the FOREX market. The DOJ also announced that UBS AG breached its 2012 NPA and is pleading guilty to LIBOR manipulation, paying a penalty of $203 million in addition to the over $1.5 billion paid by UBS and its Japanese subsidiary to the DOJ, CFTC, UK FCA and FINMA when it entered into the NPA (5/20/15).
Assistant Attorney General Leslie Caldwell spoke about cybersecurity at the Georgetown Cybersecurity Law Institute (5/20/15) and about corporate accountability at the 10th Annual Compliance Week Conference (5/19/15).
Second (Vadian Bank AG) and Third (Finter Bank Zurich AG) Swiss banks reached resolution with the DOJ under its Swiss Bank Program (5/8/15 and 5/16/15).
Assistant Attorney General Caldwell spoke about health care fraud investigations at the ABA 25th Annual National Institute on Health Care Fraud (5/14/15).
SEC Enforcement Director Andrew Ceresney spoke about SEC’s company cooperation program at the University of Texas School of Law’s Government Enforcement Institute (5/13/15).
Court accepted Schlumberger’s guilty plea in connection with sanctions violations (5/7/15).
BNP Paribas was sentenced to five years’ probation and a $9 billion penalty for sanctions violations (5/2/15).
SEC released guidelines entitled “Division of Enforcement Approach to Forum Selection in Contested Actions”(5/8/15) and filed a motion to dismiss for lack of subject matter jurisdiction in Gray Financial Group v. SEC (case challenging the constitutionality of SEC administrative hearings) (4/30/15).
DOJ Cybersecurity Unit released guidelines entitled “Best Practices for Victim Response and Reporting of Cyber Incidents” (4/29/15).
HHS OIG, AHLA, AHIA and HCCA jointly released a resource guide entitled “Practical Guidance for Health Care Governing Boards on Compliance Oversight” (4/20/15).
Assistant Attorney General Caldwell spoke about corporate compliance at NYU Law School’s Program on Corporate Compliance and Enforcement (4/17/15).