Why it matters: Since our last newsletter, a lot has been going on in white collar enforcement… so much so that we decided to devote an entire newsletter to it. It was a month of superlatives. The DOJ and the SEC announced significant resolutions of corporate enforcement actions, including the “largest criminal fine ever imposed in an FCPA case” and hundreds of millions of dollars in criminal penalties imposed for U.S. sanctions violations. Three individuals were charged for orchestrating a “massive” cyber hack of U.S. financial institutions, brokerage firms and major news publications, causing the “largest theft of customer data from a U.S. financial institution in history.” And a high frequency trader was convicted of “spoofing” in the “first federal prosecution of its kind.” In addition, high-ranking officials from the DOJ and the SEC were out in force giving speeches and pronouncements about everything from corporate individual accountability to FCPA compliance to cyber security. We cover it all here.
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