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Series: Types of Industrial Espionage

Industrial espionage refers to various activities performed to gain an unfair competitive advantage, rather than for national security purposes.  As we discussed in a previous article, the ways in which industrial espionage can affect a company are numerous and include theft of trade secrets and disruption to operation. Section 1832 of the Economic Espionage Act … Continue Reading

Slavery in Supply Chains

 Squire Patton Boggs  has published its first edition of the Commodities & Shipping Group’s (CSG) Quarterly Update.  The topic we chose to focus on for this publication is  slavery in supply chains. The Global Survey Index reports over 45.8 million people are subject to modern slavery (26% of whom are children, and 55% are women … Continue Reading

New Law Requires 72-Hour Notice for Cyber Incidents

We recently shared a timely post on Consumer Privacy World that, given the focus of, we wanted to call to your attention. “President Biden has recently delivered on a long stated priority of his presidency: requiring the disclosure of cyber security incidents for companies that operate critical infrastructure. After announcing an executive order in May … Continue Reading

The Fine Art of Money Laundering: The Treasury Department’s Study on Money Laundering and Terrorist Financing in the Art Trade

The National Defense Authorization Act for Fiscal Year 2021 (“NDAA”) became law early in 2021, after a congressional override of then-President Trump’s veto. Division F of the NDAA consists of the Anti-Money Laundering Act of 2020 (“AMLA”). The AMLA expands numerous Bank Secrecy Act (“BSA”) requirements, and amends the BSA’s definition of “financial institution” to include persons … Continue Reading

FinCEN and Federal Reserve Seek Comments on Proposed Amendments to the Recordkeeping and Travel Rules

On October 23, 2020, the Board of Governors of the Federal Reserve System (the ‘‘Board’’) and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) (collectively, the “Agencies”) issued a joint Notice of Proposed Rulemaking (“NPRM”) soliciting public comment on questions relating to potential amendments to Bank Secrecy Act (“BSA”) regulations. The proposed … Continue Reading

The White House Directs Federal Agencies to Focus on Fairness in Investigations and Enforcement

On May 19, 2020, in response to the COVID-19 pandemic, President Trump signed Executive Order 13924, to provide regulatory relief for entities economically impacted by the pandemic.  Section 6 of the Executive Order directed agencies to revise their procedures and practices in administrative investigations and enforcement in light of certain enumerated principles of fairness.  It … Continue Reading

SBA PPP FORGIVENESS APPLICATION PROVIDES GUIDANCE FOR LENDERS AND BORROWERS

On May 15, 2020, the Small Business Administration (SBA) released the long-awaited Paycheck Protection Program (PPP) Loan Forgiveness Application.  Congress established the PPP as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), and the PPP is a key pillar in the Government’s response to the economic consequences of the COVID-19 pandemic.  … Continue Reading

So You Think Tailored FCPA Training Does Not Matter? – Think Again

Ask the bank that just paid the SEC more than $ 6 million for failing to adequately train its Asia Pacific Region (APAC) personnel on antibribery with respect to hiring practices.  The bank had policies against hiring personnel in exchange for business, but, according to the SEC’s order, the company “failed to effectively train APAC … Continue Reading

Yahoo Fined Millions by SEC for Failing to Disclose Cybersecurity Breach

In late April, the U.S. Securities and Exchange Commission (SEC) hit Yahoo with a $35 million dollar fine for failing to properly assess and disclose a 2014 data breach that affected more than 500 million user accounts. The case marks the first time the SEC has charged a public company with cybersecurity-related disclosure violations and … Continue Reading

Rosenstein Pledges Reduced Regulation, Encourages Self-Reporting

U.S. Deputy Attorney General Rod Rosenstein pledged an enforcement environment in which businesses can thrive. In keynote remarks at the U.S. Chamber Institute for Legal Reform, he emphasized the Department of Justice’s (DOJ) commitment to “avoiding unnecessary interference in law-abiding enterprises.” Rosenstein also promoted the benefits of corporate compliance and self-reporting. Although allegedly offering “no breaking news” about DOJ policies, … Continue Reading

Monthly China Anti-Bribery Update Report – November 2016

1. New laws or regulations State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: No developments. 2. Upcoming laws or regulations No developments. 3. Government Action (1) It was reported on November 4, 2016 that Zhuang Yao (“Zhuang”), the former Chairman of Guangdong Materials Group Co., Ltd. (“GMGC”), a state-owned … Continue Reading

Monthly China Anti-Bribery Update Report — September 2016

1. New laws or regulations State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: No developments. 2. Upcoming laws or regulations No developments. 3. Government Action (1) On September 2, 2016, Wei Xinhong (“Wei”), the former Party Secretary of Qinyang Municipal, Henan Province, was sentenced by the Intermediate People’s Court … Continue Reading

Monthly China Anti-Bribery Update Report — August 2016

1. New laws or regulations State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: No developments. 2. Upcoming laws or regulations No developments. 3. Government Action (1) On August 2, 2016, Hu Xuefan (“Hu”), the former Director of Tourism Bureau of Anhui Province, was sentenced by the Intermediate People’s Court … Continue Reading

Monthly China Anti-Bribery Update Report — July 2016

1. New laws or regulations State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: (1) On July 17, 2016, the Central Commission for Discipline Inspection issued the Accountability Regulations of the Communist Party of China (the “Regulations”). The Regulations specify the intra-Party accountability mechanism for the serious consequences caused by … Continue Reading

Monthly China Anti-Bribery Update Report — June 2016

1. New laws or regulations State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: No developments. 2. Upcoming laws or regulations No developments. 3. Government Action (1) In early June, Zhang Longjun (“Zhang”), the former Dean of Shangyu Traditional Chinese Medicine Hospital (the “Hospital”), together with Chen An (“Chen”) and … Continue Reading

Monthly China Anti-Bribery Update Report — May 2016

1. New laws or regulations State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: No developments. 2. Upcoming laws or regulations No developments. 3. Government Action (1) It was reported on May 6, 2016 that Wang Tianchao (“Wang”), the former President of Yunnan First People’s Hospital, was prosecuted by Pu’er … Continue Reading

Monthly China Anti-Bribery Update Report — April 2016

1. New laws or regulations State level: (1) On April 18, 2016, the Supreme People’s Court and Supreme People’s Procuratorate promulgated Interpretations of the Supreme People’s Court and the Supreme People’s Procuratorate on Certain Issues Concerning the Application of Law in Handling Criminal Cases Involving Embezzlement and Bribery (the “Interpretations”). Key highlights of the Interpretations … Continue Reading

Monthly China Anti-Bribery Update Report — March 2016

1. New laws or regulations State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: No developments. 2. Upcoming laws or regulations No developments. 3. Government Action (1) It was reported on March 4, 2016 that Haikou Intermediate People’s Court had affirmed the sentence of Liao Yongyu (“Liao”), the former Office … Continue Reading

Monthly China Anti-Bribery Update Report – February 2016

1. New laws or regulations State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: No developments. 2. Upcoming laws or regulations No developments. 3. Government Action (1) On February 17, 2016, Zhou Peifang (“Zhou”), the former Director of Beijing Haidian District Municipal Garden Service Center and Haidian District Municipal Commission … Continue Reading

Monthly China Anti-Bribery Update Report — January 2016

1. New laws or regulations State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: (1) On January 1, 2016, the Guidelines of Integrity and Self-discipline of the Communist Party of China and the Regulations of the Disciplinary Sanctions of the Communist Party of China (the “Regulations”) promulgated by Central Committee … Continue Reading

Monthly China Anti-Bribery Update Report — December 2015

1. New laws or regulations State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: No developments. 2. Upcoming laws or regulations No developments. 3. Government Action (1) On December 3, 2015, Sheng Peiping (“Shen”), the former Deputy Governor of Yunnan Province, was sentenced to 12 years’ imprisonment by the Beijing … Continue Reading

Monthly China Anti-Bribery Update Report — November 2015

1. New laws or regulations State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: No developments. 2. Upcoming laws or regulations No developments. 3. Government Action (1) On November 3, 2015, Li Chongxi (“Li”), the former Chairman of Sichuan Provincial Committee of Chinese People’s Political Consultative Conference (“CPPCC”), was sentenced … Continue Reading
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