Expert Analysis

• How DOJ Is Rethinking Corporate Crime Prosecution Tactics

  

  Recent statements from the Justice Department seem to indicate an incremental shift away from relying on collective employee knowledge when prosecuting corporate crime, and from exploring the bounds of case law that has not been a model of clarity, say attorneys at Covington.

• 5 Key Issues Affecting Deal Structurings In Ship Finance

  

  Several trends are shaping the ship finance landscape, including the impact of Basel IV in Europe and the Nordic bond market, making it essential for both lenders and shipowners to utilize creative deal structuring and maintain an awareness of competitive dynamics across traditional bank and private lending, say attorneys at Holland & Knight.

• 2nd Circ. Kazakh Ruling Clarifies RICO Rule, FSIA Exception

  

  The Second Circuit's recent Yerkyn v. Yakovlevich ruling, dismissing a Racketeer Influenced and Corrupt Organizations Act claim, demonstrates that RICO's domestic injury requirement is a merits question, and reaffirms the Foreign Sovereign Immunities Act's commercial activity exception, says Brant Kuehn at Greenspoon Marder.

• Complaint Portal Updates Prove That The CFPB Is Listening

  

  The Consumer Financial Protection Bureau's recent updates to its online complaint portal not only clarify complaint pathways and strengthen identity verification, but also signal that the bureau is more willing to consider industry perspectives on its activities and change course where warranted, say attorneys at Manatt.

• How Banks Can Apply FinCEN Beneficial Ownership Relief

  

  A recent Financial Crimes Enforcement Unit order limiting the circumstances under which banks should identify and verify beneficial owners may allow banks to tailor their approach to verification compliance, but only after reviewing customer due diligence policies and evaluating alignment with their risk profiles, say attorneys at Cleary.

• Opinion

  3 Reasons We Need Digital Asset Market Structure Legislation

  

  As bills to regulate the cryptocurrency industry risk stalling in Congress, policymakers and market participants must remember why a durable statutory framework, not governance by agency action, is key to unlocking the full potential of the U.S. digital asset ecosystem, say attorneys at Davis Polk.

• Series

  Volunteering With Scouts Makes Me A Better Lawyer

  

  Serving as an assistant scoutmaster for my son’s troop reaffirmed several skills and principles crucial to lawyering — from the importance of disconnecting to the value of morality, says Michael Warren at McManis Faulkner.

• Series

  Law School's Missed Lessons: In Court, It's About Storytelling

  

  Law school provides doctrine, cases and hypotheticals, but when lawyers step into the courtroom, they must learn the importance of clarity, credibility, memorability and preparation — in other words, how to tell simple, effective stories, say Nicholas Steverson and Danielle Trujillo at Wheeler Trigg, and Lisa DeCaro at Courtroom Performance.

• How Leveraged Lending Pivot May Alter Bank Risk Oversight

  

  The Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency's recent withdrawal of leveraged lending guidance introduces several principles that may allow banks to better apply enterprisewide risk management programs and potentially create additional competition in the private credit loan market, say attorneys at Mayer Brown.

• Why SDNY May Be Dusting Off The Financial Kingpin Statute

  

  The Southern District of New York’s recent fraud indictments against executives of bankrupt companies Tricolor and First Brands have seemingly revived the Continuing Financial Crimes Enterprise statute, and if the cases succeed, prosecutors across the country will have ample reason to reach for this long-dormant tool, say attorneys at Lankler Siffert & Wohl.

• Charges Signal Tougher Stance On Execs' Bankruptcy Fraud

  

  The recent criminal charges stemming from the Tricolor and First Brands bankruptcy cases may represent a sea change in the willingness of federal prosecutors to use bankruptcy fraud as a basis to charge corporate officers more frequently alongside traditional statutes such as wire fraud, bank fraud and money laundering, say attorneys at White & Case.

• A Tale Of 2 Self-Disclosure Policies: How SDNY, DOJ Differ

  

  Though the U.S. Attorney’s Office for the Southern District of New York’s recently announced corporate enforcement and voluntary self-disclosure policy shares many similarities with that of the U.S. Department of Justice, the two programs differ in meaningful ways, including subject matter scope and timeline to declination, say attorneys at Wiley.

• Aligning Microsoft Tools With NYC Bar AI Recording Guidance

  

  The New York City Bar Association’s recently issued formal opinion, providing ethical guidance on artificial intelligence-assisted recording, transcription and summarization, raises immediate questions about data governance and e-discovery for companies that use Microsoft 365 and Copilot, say Staci Kaliner, Martin Tully and John Collins at Redgrave.

• FINRA Guide Refines Rules Of The Road For Negative Consent

  

  A recent Financial Industry Regulatory Authority notice streamlines the use of negative consent letters to customers, particularly for introducing brokers and clearing brokers, but it also attaches greater responsibility to compliance, and firms must ensure use of negative consent remains firmly within FINRA's bright-line rules, say attorneys at Mintz.

• Where 5th Circ. Ruling Fits In ERISA Arbitration Landscape

  

  The Fifth Circuit's recent decision in Parrott v. International Bancshares, holding that an Employee Retirement Income Security Act plan may consent to arbitration, must be understood against the backdrop of a developing body of appellate authority addressing ERISA arbitration, say attorneys at Gibson Dunn.