The Silent Impact of Europe’s AI Act on Corporate Roles

By Maria Lucia Passador September 12, 2025 by renholding

For more than a decade, the European Union has styled itself as the custodian of digital civilization. If Silicon Valley built the engines, and Shenzhen perfected the replication, Brussels has written the rulebook. After the General Data Protection Regulation (GDPR)

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Morrison & Foerster Discusses Final Biden Cybersecurity Order

By Tina Reynolds and Markus Gerhard Speidel January 28, 2025 by eorozco

Citing the threats posed by foreign adversaries and criminal organizations, and seeking enhanced accountability for companies that provide software and cloud services to the federal government, the Biden administration released a new, sweeping Executive Order (“E.O.”) on cybersecurity, signing the …

Davis Polk Discusses DOJ Antitrust Updates on Corporate Compliance

By D. Jarrett Arp, Arthur J. Burke, Tatiana R. Martins, Caroline Ziser Smith and Leigh M. Terry Brinkerhoff January 27, 2025 by eorozco

The Antitrust Division of the Department of Justice has updated its 2019 Evaluation of Corporate Compliance Programs in Criminal Antitrust Investigations. The changes bring the guidance in line with recent changes to the DOJ Criminal Division’s compliance guidance, but also …

SEC Announces Enforcement Results for Fiscal Year 2024

By Securities and Exchange Commission November 25, 2024 by renholding

The Securities and Exchange Commission announced on November 22 that it filed 583 total enforcement actions in fiscal year 2024 while obtaining orders for $8.2 billion in financial remedies, the highest amount in SEC history.

The 583 enforcement actions represent

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SEC Acting Enforcement Chief Speaks on Protecting Investors and Promoting Compliance

By Sanjay Wadhwa November 20, 2024 by renholding

I’d like to take the opportunity today to reflect on some of the goals and intentions that then-Director Gurbir Grewal and I, as his deputy, discussed when we assumed leadership of this remarkable Division three-plus years ago, and what I …

Skadden Discusses Banking Agencies’ Increasing Scrutiny of Bank-Fintech Partnerships

By Mark Chorazak, Adam J. Cohen, Darren M. Welch and Bryan A. Burcat August 27, 2024 by renholding

On July 25, 2024, the U.S. prudential bank regulators released a Joint Statement on Banks’ Arrangements With Third Parties To Deliver Bank Deposit Products and Services (Joint Statement),¹ along with a request for information on bank-fintech arrangements (RFI) issued …

The Governance Challenges from DOJ’s New Whistleblower Pilot Program

By Michael W. Peregrine and Ashley C. Hoff August 16, 2024 by renholding

Corporate boards and their leadership teams face unique compliance oversight challenges from the Department of Justice (“DOJ”)’s new Corporate Whistleblower Awards Pilot Program (“the Program”), the details of which were announced on August 1 by Principal Deputy Assistant Attorney General …

Davis Polk Discusses $220 million Resolution of FCPA Case Against SAP

By Daniel S. Kahn, Greg D. Andres, Martine M. Beamon, Sidney Bashago and Paul J. Nathanson January 19, 2024 by renholding

On January 10, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) announced parallel resolutions with SAP, a German software company, to resolve investigations into violations of the Foreign Corrupt Practices Act (FCPA). According to the resolutions, …

SEC Enforcement Chief Speaks on Corporate Compliance

By Gurbir Grewal October 25, 2023 by renholding

I’d like to start by returning to a theme that I’ve touched on before, and that is how public trust in our institutions is faltering.[1] No sector is immune from this trend. From Congress to law enforcement to the

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U.S. Deputy AG Announces New Safe Harbor Policy for Voluntary Disclosures in M&A

By Lisa Monaco October 6, 2023 by renholding

Thank you for inviting me to talk with you today – this is an important audience for the Department of Justice because your voice – and your work – to promote a culture of compliance across your companies is more

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Arnold & Porter Discusses New National Security-Based Restrictions on Corporate Activity

By Deborah A. Curtis, Cate Baskin, Minjae Kim and Kerry K. Walsh September 14, 2023 by renholding

Recently, the whole of the U.S. government has showcased its commitment to addressing the national security implications of certain corporate activities. On September 11, 2023, the U.S. Department of Justice (DOJ) tapped its first National Security Corporate Enforcement Chief. The …

Wachtell Lipton Discusses PCAOB Proposal to Expand Auditors’ Oversight Role

By Steven A. Rosenblum, Trevor S. Norwitz, Wayne M. Carlin, Victor Goldfeld, Jenna E. Levine and Carmen X. W. Lu August 2, 2023 by renholding

The Public Company Accounting Oversight Board (PCAOB) has proposed changes to its auditing standards that would significantly expand auditors’ responsibilities and oversight of a company’s noncompliance with laws and regulations. If adopted as proposed, the rules would require auditors to …

Davis Polk Discusses New DOJ Clawback, Messaging, and Monitorship Guidance

By Daniel S. Kahn, Greg D. Andres, Martine M. Beamon, Tatiana R. Martins and Fiona R. Moran March 14, 2023 by renholding

This month brought additional guidance from DOJ, this time the much-anticipated compliance guidance on compensation structures to incentivize compliance and the use of personal devices and messaging apps to engage in business communications. The guidance was announced by the Deputy …

Skadden Discusses Government Expectations for Companies’ Data-Driven Compliance Programs

By Gary DiBianco, Raquel Fox and Gretchen M. Wolf October 19, 2021 by renholding

As artificial intelligence and other data tools have proliferated, regulators and prosecutors expect companies to utilize sophisticated data analytics as part of their compliance programs. They also expect directors to take an active role, understanding and overseeing these data-driven compliance …

Sullivan & Cromwell Discusses SEC Proposal to Enhance Proxy Voting Disclosure by Investment Funds

By Donald R. Crawshaw, Eric M. Diamond, Joseph A. Hearn, Sarah P. Payne and Marc Trevino October 11, 2021 by benzonenshayn

On September 29, 2021, the SEC issued a proposed rulemaking to enhance the information mutual funds, exchange-traded funds and other registered management investment companies (“funds”) report annually about their proxy votes. The proposal also would require so-called “institutional investment managers” …

Personhood, Procedure, and the Endurance of Corporate Compliance

By Miriam H. Baer September 28, 2021 by renholding

Despite its significant role in preventing and deterring wrongdoing, corporate compliance’s long-term prospects remain an open question. How strongly does a company’s inclination to redress wrongdoing rest on a credible threat of outside enforcement?

This is one of the questions …

How Can We Tell Whether Compliance Programs Work?

By Melissa Rorie and Benjamin van Rooij September 3, 2021 by renholding

In the United States, major financial scandals in the 1970s, 1980s, and 1990s resulted in federal pressure on corporations to inculcate ethical behavior in their employees. The Foreign Corrupt Practices Act, Federal Sentencing Guidelines, Sarbanes-Oxley Act, the U.S. Organization Sentencing …

Cooley Discusses SEC’s Regulation Fair Disclosure Charges Against AT&T

By Luke Cadigan, Patrick Gibbs, Randall Lee, Colin Scott and Elizabeth Skey March 18, 2021 by Nisha Chandra

The SEC recently brought charges against AT&T and three mid-level executives for selectively providing information to Wall Street analysts in alleged violation of Regulation Fair Disclosure (Reg FD). According to the complaint filed in the Southern District of New York, …

Closing the “RegLag” Between Prospective Regulated Activity and Regulation

By John W. Bagby and Nizan G. Packin October 16, 2020 by renholding

There is often a significant delay between the start of an activity that ends up being regulated and the moment a regulatory response is announced or adopted. This regulatory lag (RegLag) enables individuals, firms, and regulators to engage in undesirable …

What Blockchain and Artificial Intelligence Won’t Do for Corporate Lawyers

By Jeffrey M. Lipshaw September 15, 2020 by renholding

There have been a number of scholarly paeans to blockchain as a corporate governance tool. It creates a permanent and irreversible chain of custody that can be used for shareholder record keeping and voting, insider trading, corporate disclosures, and trade …

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Columbia Law School's Blog on Corporations and the Capital Markets

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