Year: 2024

In a major step to create a new regulatory framework for cryptocurrency, the U.S. House of Representatives last Wednesday passed H.R. 4763, the Financial Innovation and Technology for the 21st Century...

Congress requires federal agencies to adjust civil money penalties each year to keep pace with inflation.  Under that authority, this year DOJ increased the civil penalties for False Claims Act violations...

CFTC Investigates Wall Street Banks Over NDAs Recently the Commodity Futures Trading Commission (CFTC) asked the Bank of America, JP Morgan Chase & Co., Citigroup Inc., and other Wall Street banks...

Congress and law enforcement agencies are taking aim at cryptocurrency mixers –services that mix cryptocurrency funds from multiple users in order to obscure the origin of the funds and make financial...

Introduction to DOJ’s Cybersecurity Enforcement Last week, the U.S. Department of Justice (DOJ) announced Insight Global LLC agreed to pay $2.7 million to resolve allegations that the company violated...

Overview of State-Level False Claims Acts Currently, more than 30 states have state-level versions of the False Claims Act, which have returned millions of dollars lost to fraud back to state coffers....

Introduction to GAO’s Fraud Loss Estimates In the first-of-its-kind effort to estimate government-wide losses to fraud, the U.S. Government Accountability Office (GAO) issued a report that attempted...

The term “qui tam” is derived from the Latin phrase “qui tam pro domino rege quam pro se ipso in hac parte sequitur,” which means “he who sues in this matter for the king...

Introduction to the Supreme Court’s Decision In a decision that has important implications for the private securities bar, the Supreme Court held in Macquarie Infrastructure Corp. v. Moab Partners,...

Overview of SEC Enforcement Initiatives at the “SEC Speaks” Event At the annual “SEC Speaks” event, SEC Division of Enforcement Deputy Director Sanjay Wadhwa provided insight into the Commission’s...