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Morrison & Foerster Discusses Antitrust Actions for Third Quarter 2023
The third quarter of 2023 was eventful for both domestic and international cartel enforcers.
In the United States, the Department of Justice (DOJ) continues to revamp policies to sharpen its enforcement efforts. On October 4, 2023, the Deputy Attorney General …
How History Sheds Light on the Limits of Fraud Prevention
The common law of fraudulent misrepresentation, whether in tort or contract, balances the alleged fraudster’s intentional deception against the victim’s unjustified reliance. The law does not reward the victim who should have known better than to trust the fraudster’s representations. …
U.S. Deputy AG Announces New Safe Harbor Policy for Voluntary Disclosures in M&A
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
When Corporate Misconduct Leads to Death, Deferred Prosecution Should Not Be Permitted
Department of Justice (DOJ) prosecutors are empowered to resolve serious corporate criminal allegations through deferred prosecution agreements (DPA). In a new paper, I argue that DPAs should not be permitted when corporate misconduct causes people to lose their lives.
To …
Paul Weiss Discusses Proposed Merger Guidelines and Private Equity
The Antitrust Division of the U.S. Department of Justice (DOJ) and Federal Trade Commission (FTC) recently released a draft overhaul of their merger guidelines. The merger guidelines are intended to describe how the agencies evaluate mergers and reach decisions on …
Cleary Gottlieb Discusses DOJ, Commerce, and Treasury Advisory on Voluntary Self-Disclosure Policies
On July 26, 2023, the U.S. Department of Justice’s National Security Division (“NSD”), the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”), and the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued a Tri-Seal …
Skadden Discusses DOJ’s Reliance on Traditional Statutes in Cryptoasset Fraud Cases
Two recent indictments highlight the Department of Justice’s (DOJ’s) continuing use of the traditional wire fraud, money laundering and identity theft statutes to pursue fraud involving digital assets, indicating that law enforcement will look to prevent theft and scamming regardless …
Paul Hastings Discusses New Draft Antitrust Merger Guidelines
The Department of Justice Antitrust Division and Federal Trade Commission issued new draft Merger Guidelines on July 19 that aim to significantly increase scrutiny of merger activity. The new Merger Guidelines would replace prior pronouncements of antitrust policy from the …
Davis Polk Discusses Antitrust Agencies’ Proposed Overhaul of HSR Filing Requirements
On June 27, 2023, the Federal Trade Commission (FTC) issued a Notice of Proposed Rulemaking (NPRM) to amend the Hart-Scott-Rodino Act (HSR) Form and Instructions.1 According to FTC Chair Lina Khan’s accompanying statement, the NPRM is the result of …
U.S. Assistant AG Speaks on Antitrust Enforcement in Bank Mergers
Sixty years ago, the Supreme Court handed down its decision in United States v. Philadelphia National Bank.[1] Today, I would like to discuss the enduring impact of this landmark case.
Philadelphia National Bank is well known in banking
Skadden Discusses DOJ Loss in Fourth Criminal No-Poach Case
In the latest setback in the Department Justice Antitrust Division’s (DOJ) attempts to prosecute “no-poach” agreements criminally, a federal judge acquitted from the bench all six defendant employees of aerospace engineering companies alleged to have allocated a labor market by …
Gibson Dunn Discusses DOJ, FTC Antitrust Summit
On March 27, 2023, the U.S. Department of Justice and U.S. Federal Trade Commission (together, the “Agencies”) hosted international and state antitrust enforcers for panel discussions on current and emerging enforcement trends.Agency leaders Assistant Attorney General (“AAG”) Jonathan Kanter and …
Davis Polk Discusses New DOJ Clawback, Messaging, and Monitorship Guidance
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 …
Sullivan & Cromwell Discusses New DOJ Policies for Prosecuting Corporate Crime
On March 2 and 3, 2023, Deputy Attorney General Lisa Monaco and Assistant Attorney General Kenneth Polite gave speeches announcing new and amended Department of Justice policies and guidance for prosecuting corporate crime. Both sets of remarks—which built on earlier …
A Top DOJ Official Speaks on Corporate Enforcement and Compliance
Thank you, Brian, for the kind introduction. It’s great to be here with all of you. Today, I will share a snapshot of our 2022 enforcement results as well as our policy approach to white-collar and corporate crime.
I have
Cleary Gottlieb Discusses M&A in 2023
Consensus opinion coming into 2022 was that high M&A volume would continue, albeit not quite at the record-setting pace of 2021. The market had other plans. Volume decreased much more sharply from the 2021 high than was commonly expected. While …
Chief of DOJ’s Criminal Division Announces Revisions to Corporate Enforcement Policy
Professor O’Sullivan, thank you for that kind introduction. It’s a pleasure to be here with you all today [January 17] at Georgetown. Not only am I an alum of the Law Center, I’m an alum of this building, Gewirz Residence
Paul Weiss Discusses the State of Antitrust Enforcement at the Beginning of 2023
2022 was an active year for the U.S. federal antitrust enforcement agencies. There were important developments in all key areas of the agencies’ remit, from merger enforcement to civil conduct cases to criminal prosecutions. 2023 may prove to be one …
Simpson Thacher Discusses Second Circuit Decision Curtailing Title 18 Insider Trading Liability
On December 29, 2022, the Second Circuit issued its highly anticipated opinion on remand in United States v. Blaszczak (“Blaszczak II”), reconsidering the case following the Supreme Court’s January 2021 vacatur of the Second Circuit’s original decision upholding …