Aug 27, 2018
Joseph Moreno comments on the Second Circuit’s recent decision to limit the application of the Foreign Corrupt Practices Act to exclude certain foreign entities without sufficient connection to the U.S., a decision that may cause prosecutors to rethink how they charge some foreign bribery cases.
An excerpt from “2nd Circ. Rebuke May Change DOJ's FCPA Calculus,” Law360, August 27, 2018:
Given the infrequency of litigation when it comes to FCPA cases, the DOJ’s broad claims of jurisdiction often go unchecked, said Joseph Moreno, a white collar partner at Cadwalader Wickersham & Taft LLP and a former federal prosecutor, and while it might affect a relatively narrow class of defendants, an admonishment from the Second Circuit of the DOJ’s theory is significant.
“I could see it very well encouraging defendants in other cases to push back. Because for 30 years, it’s largely whatever the jurisdiction is that the prosecutors say it is,” Moreno told Law360. “It’s clearly a rebuke, because the DOJ has not only alleged this theory of aiding and abetting and conspiracy jurisdiction in other cases, it actually says it in its FCPA guidance that was published back in 2012.”
The Bank of England has initiated a review of its own exposure to LIBOR,
Scott Cammarn, Jonathan Watkins, Mark Chorazak, Aaron Lang
On 7 June 2019, Regulation (EU) 2019/876 (CRR II) was published in the Official Journal of the EU.