FCPA: The HSBC AML Settlement – Lessons Learned for the AML Compliance Practitioner

Publiziert am 31. Januar 2013 von NIETZER . Rechtsanwälte

IMG_0924I recently wrote about banks behaving badly. Currently, Exhibit A in that list is HSBC. In December, 2012, the UK banking giant HSBC agreed to pay a fine of $1.92 billion for its transgressions involving money laundering. Today I want to look at the violations which the company engaged in and its resolution. Weiterlesen →

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The New York Family Office – Newsletter: 4. Quartal 2012

Publiziert am 29. Januar 2013 von NIETZER . Rechtsanwälte

IMG_1198Hier kommen Sie direkt auf das Dokument, für welches sich Herr J. Arne Volkers, der den Newsletter für das Einstellen in diesen Blog  genehmigt hat,  als Autor urheberrechtlich verantwortlich zeichnet.

TNYFO130116_Newsletter_dt_2012_Q4

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Most ridiculous lawsuits: Suit claims Spurs violated state law

Publiziert am 28. Januar 2013 von NIETZER . Rechtsanwälte

IMG_1086The San Antonio Spurs are being sued by a lawyer who is alleging the team violated the state’s deceptive and fair trade practices law.

On Monday, Larry McGuinness filed a class-action suit in Miami-Dade County, stating Spurs coach Gregg Popovich „intentionally and surreptitiously“ sent their best players home without the knowledge of the league, the team and the fans attending the Nov. 29 game against the Miami Heat. McGuinness contends that he, as well as other fans, „suffered economic damages“ as a result of paying a premium price for a ticket that shouldn’t cost more. Weiterlesen →

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ILR: The Now Even-Longer Reach of U.S. Law Over Foreign Corporations

Publiziert am 26. Januar 2013 von NIETZER . Rechtsanwälte

CIMG1757Corporate Counsel | Dec 19, 2012
As global commerce has expanded beyond traditional territorial bounds, the jurisdiction of the U.S. courts has undergone a similar expansion. Long behind us are the days when a foreign corporation could consider itself comfortably beyond the reach of a U.S. court so long as it maintained no „physical presence“ in that court’s geographical jurisdiction.

The Now Even-Longer Reach of U.S. Law Over Foreign Corporations

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FCPA: Internal Audit Review of Charitable Donations Under the FCPA

Publiziert am 24. Januar 2013 von NIETZER . Rechtsanwälte

IMG_0919When is a rose not a rose? When it is a charitable donation not made for philanthropic purposes and it violates the Foreign Corrupt Practices Act (FCPA). I thought about that concept when reviewing the Eli Lilly and Company (Lilly) FCPA enforcement action brought by the Securities and Exchange Commission (SEC) late last month. The Lilly enforcement action discussed a bribery scheme utilized by Lilly in Poland. Weiterlesen →

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Most ridiculous lawsuits: Flying hot dog lands Royals‘ mascot back in court

Publiziert am 21. Januar 2013 von NIETZER . Rechtsanwälte

IMG_1085KANSAS CITY, Mo. •  Sluggerrr, the Kansas City Royals mascot, is going back to court.

A Missouri appeals court on Tuesday reversed a lower court decision in a lawsuit filed by John Coomer of Overland Park, Kan., against the Royals and their mascot. Weiterlesen →

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ILR: UBS to Pay $1.5 Billion to Settle Libor Charges

Publiziert am 19. Januar 2013 von NIETZER . Rechtsanwälte

CIMG1753Wall Street Journal | Dec 19, 2012
UBS AG became the second bank to settle accusations that it tried to rig benchmark interest rates, agreeing to pay roughly $1.5 billion in a deal with authorities in multiple countries that points to a broader manipulation scandal than previously known.

Read more: UBS to Pay $1.5 Billion to Settle Libor Charges

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FCPA: Top Ten Enforcement Actions for 2012

Publiziert am 17. Januar 2013 von NIETZER . Rechtsanwälte

grüne ampelAs we welcome in 2013, it is appropriate to reflect back on some of the things which have occurred over 2012 and in the Foreign Corrupt Practices Act (FCPA) enforcement world, it was quite a significant year. The Department of Justice (DOJ) and Securities and Exchange Commission (SEC) both have used enforcement actions to educate compliance professionals on several different aspects of the FCPA and FCPA compliance. This is my list of what I believe to be the most significant enforcement actions over the past year and the lessons which can be drawn from them. Weiterlesen →

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ILR: NY Appellate Court Dismisses Short-Sellers‘ Porsche Suit, Closes off Possible Morrison Escape Route

Publiziert am 12. Januar 2013 von NIETZER . Rechtsanwälte

CIMG2104D & O Diary | January 2, 2013: In a decision that could foreclose a possible way for claimants to try  to circumvent the U.S. Supreme Court’s decision in the Morrison v. National Australia Bank case, a New York appellate court has reversed a lower court and dismissed the fraud suit short-seller hedge funds had brought in New York state court against Porsche on forum non conveniens grounds.

Read more: NY Appellate Court Dismisses Short-Sellers‘ Porsche Suit, Closes off Possible Morrison Escape Route

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FCPA: The CCO: Co-Equal to the General Counsel in the Eyes of the DOJ

Publiziert am 10. Januar 2013 von NIETZER . Rechtsanwälte

CIMG1976One of the items that the Department of Justice (DOJ) has increasingly focused on in its enforcement actions is the role of the Chief Compliance Officer (CCO) and whether this position has adequate staffing and resources to accomplish its mandated tasks in a minimum best practices compliance program under the Foreign Corrupt Practices Act (FCPA). In the recent Pfizer Deferred Prosecution Agreement (DPA), it stated regarding the CCO position (called Chief Compliance and Risk Officer) that: Weiterlesen →

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