MVA White Collar Defense, Investigations, and Regulatory Advice Blog

By: Elena F. Mitchell and Frank Schall.

The U.S. Department of the Treasury (“Treasury”) recently published a proposed rule that would modify the mandatory filing requirements in place throughout the pilot program for certain foreign investment transactions subject to review by the Committee on Foreign Investment in the United States (“CFIUS”) pursuant to the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”). The proposed rule modifies the mandatory filing requirement for “critical technologies” transactions involving a U.S. business ...

By: Elena F. Mitchell and Frank Schall.

As discussed in our related March 25, 2020 post, in early March 2020, the Department of the Treasury (“Treasury”) issued a proposed rule regarding filing fees for parties filing voluntary notices of certain transactions for review by the Committee on Foreign Investment in the United States (“CFIUS”) pursuant to the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”). Earlier this week, on April 28, Treasury filed an interim final rule implementing filing fees beginning May 1, 2020. In issuing the rule as an ...

By: Elena F. Mitchell and Frank Schall. Further implementing the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA“), the U.S. Department of the Treasury recently published a proposed rule to establish filing fees for parties filing voluntary notices of certain transactions for review by the Committee on Foreign Investment in the United States (“CFIUS”). Under the proposed rule, CFIUS would accept a transaction for review only after payment of the filing fee. The proposed rule remains subject to public comment through April 8, 2020, and does not specify ...

By: Elena F. Mitchell and Frank Schall.  The U.S. Department of the Treasury recently published final regulations to further implement the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA“) and to better address national security concerns resulting from certain investments and transactions in the U.S.

The Committee on Foreign Investment in the United States (“CFIUS”) is an interagency committee chaired by the U.S. Department of the Treasury and tasked with evaluating certain foreign investments and transactions for national security-related ...

By Kim Cochran[1] and Frank Schall  In a decision with far-reaching implications for corporate victims of fraud, the U.S. Supreme Court recently held that the Mandatory Victims Restitution Act of 1996 (MVRA) does not entitle victims of certain federal offenses, including wire fraud, to reimbursement for costs incurred conducting investigations and participating in civil or bankruptcy proceedings related to the fraud.

Before Lagos, Many Courts of Appeal Allowed Recovery of Investigation Costs

In Lagos v. United States, 584 U.S. ___ (2018), Sergio Fernando Lagos pleaded ...

With the official announcement that Charles Cain will replace Kara Brockmeyer as head of the SEC's Foreign Corrupt Practices Act (FCPA) Unit, it is more likely that we will see a return to the enforcement trends and outcomes of recent years. Mr. Cain has served as Acting Chief of the FCPA Unit since April 2017, and directly supervised recent enforcement actions, including the $965 million global settlement with Sweden-based telecommunications provider Telia Company AB announced in September this year.

Mr. Cain helped write the book on the SEC and DOJ's enforcement views and ...

James P. McLoughlin, Jr., Neil T. Bloomfield, and Frank E. Schall issued a Client Advisory titled "Timely Disclosure of Investigation Loss Contingencies: The SEC’s Aggressive Enforcement Stance." The Advisory discusses SEC v. RPM International, Inc., No. 16-01803 (D.D.C. filed Sept. 9, 2016), in which the SEC has pushed its aggressive litigation strategy in pursuit of its policy of compelling registrants to accelerate loss contingency disclosures. The SEC filed against RPM International, Inc. and its general counsel, Edward Moore, alleging the failure to disclose a ...