• Robertson Park quoted in Law 360 article,  "1st UK Conviction Gives More Ammunition To Libor Plaintiffs."  Monday's conviction of a former UBS AG trader over the manipulation of the London Interbank Offered Rate will hand U.S. class action plaintiffs another weapon to fire at big banks in their ongoing litigation over the benchmark interest rate, experts say.

  • On July 20, The New York Times reported that the New York State Department of Financial Services has stepped up its investigation of Promontory Financial Group, a leading global financial services consulting firm. Promontory is under the department's scrutiny for having allegedly doctored a report on international sanctions compliance, which Promontory prepared for a client bank to submit to federal and state regulators. If New York takes action against Promontory, it would be the third major consulting firm in as many years that the regulator will have punished for sanitizing problematic regulatory reports in response to bank pressure. The department has already fined Deloitte $10 million and imposed a one-year ban on agency-related work for similar misconduct, and has likewise fined PricewaterhouseCoopers $25 million and imposed a two-year agency ban.

  • Steve Feldman and Alexandra Marinzel author FCPA article for Grassi & Co. -  For any company doing business internationally, knowledge of the United States’ Foreign Corrupt Practices Act (“FCPA”) is a must.  Running afoul of this federal law can come with serious consequences, both for individuals and for the company.  Last year, ten companies paid over $1.5 billion to resolve FCPA actions with the Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”).  In addition to financial penalties, FCPA enforcement actions can also result in criminal charges, including charges against individual company employees and management.  FCPA enforcement has been a top government priority for a number of years and there is no indication that enforcement will slow down anytime soon.  To avoid finding you or your company in such a predicament, it is important to be aware of potential FCPA issues and to take action should any issues arise.  To help you be prepared, this article will explain what the FCPA law is, what it prohibits and requires, identify situations in which FCPA risks and concerns may arise, and explain what to do should your company have concerns.  The goal is to help you identify risky situations that raise FCPA concerns so you can proactively deal with the issues.

  • Murphy & McGonigle, P.C., a leading provider of legal services to the financial services industry, is marking its 5th anniversary in 2015. Founded in 2010, the firm has remained true to an innovative law firm model focused on serving some of the best known banks, broker-dealers, investment advisers, hedge funds, securities markets and exchanges in the United States and internationally. 

  • Last month’s indictment by US law enforcement officials of former Fédération Internationale de Football Association (FIFA) officials and associated marketing executives continues to dominate the headlines. The US government alleges that the defendants violated US criminal statutes prohibiting bribery, racketeering (RICO), money laundering, and wire fraud through a long-running pattern of making, accepting, or facilitating corrupt payments connected to selecting host countries for FIFA-sponsored tournaments, and the sale of media and marketing rights for those events.1 Other international sports organizations – and the media and corporate sponsors who court them – should be concerned about where the authorities will look next. 

  • There is a sense in the United States that compliance professionals are moving into the crosshairs of government enforcement actions. For years, the government has sought to bring actions not only against those who committed the primary violations, but also against the so-called “gatekeepers;” the lawyers, the accountants, and now, the compliance professionals who the government believes facilitated the illegal misconduct.   When misconduct is uncovered in a company, US enforcement officials will always ask, “Was the compliance system adequate?” Senior enforcement officials will ask their investigators whether the company took appropriate steps to detect and prevent misconduct in determining whether an action against the company is appropriate. The enforcement investigator will therefore take steps to evaluate the effectiveness of the compliance system. If the government finds the compliance system was inadequate, there appears to be a growing likelihood that US enforcement agencies will name an individual as responsible for that failure. As James Loonam, Deputy Chief of the Business & Securities Fraud Section in the US Attorney’s Office for the Eastern District of New York said recently at a conference, when the government gets a resolution against a company only, and not an individual, he considers that a failure.