IRS Targets Big Business for Inbound Distributions, Basket Options, Captive Insurance and Asset Transfers
Almost a year ago (September 2015), the Internal Revenue Service announced the reorganization of its Large Business and International (LB&I) Division. Struggling to keep up
Fourth Circuit to Weigh-In on Statistical Sampling and the Government’s Veto Power in False Claims Act Cases.
Government’s Veto Power The Fourth Circuit in U.S. ex rel. Michaels v. Agape Senior Community (Agape) has been asked to decide two important issues in False
Higher CFTC Fines Proposed in Derivatives Protection Act
Senator Warren and two other Congressional members proposed the Derivatives Oversight and Taxpayer Protection Act into Congress at the end of June in order to
International Support for Whistleblowers Growing
Governments across the world continue to recognize the importance of whistleblowers with agencies in Germany and Canada opening up whistleblower programs to collect information about
DOJ Doubles FCA Statutory Penalties
The statutory penalties for each false claim or false statement will nearly double as the U.S. Government adjusts the False Claims Act fines for inflation. Under the Civil Monetary
Whistleblowers Help Secure $415M Merrill Lynch Settlement
The Customer Protection Rule was the subject of a $415 million settlement last week by Bank of America’s Merrill Lynch. It was the largest ever
SDNY Insider Trading Cases Surge in 2016
The Southern District of New York has seen a resurgence in government lawsuits over insider trading in 2016 following a 2015 decline that has been attributed by
OIG Reports on Home Health Care Fraud
The U.S. Government is stepping up enforcement efforts against home health services fraud according to an Office of the Inspector General (OIG) alert recently published.
Supreme Court Ruling on Implied Certification in FCA Cases
The Supreme Court on Thursday handed down a unanimous decision in U.S. ex rel. Escobar v. Universal Health Services, Inc. to resolve the circuit split over the
Pharma Patients at Risk with New Drugs, Corruption
Two reports on the pharmaceutical industry issued recently put the safety of drugs into question, with one questioning whether new drugs are put on the
Private Enforcement of the FCPA Proposed
A bill to reform the Foreign Corrupt Practices Act by creating a private cause of action has been introduced into the U.S. House of Representatives
Cybersecurity Named Biggest Risk to the Financial System as SEC Prepares for More Enforcement Actions
There haven’t been a lot of large fines handed down by the U.S. Securities and Exchange Commission because of hacking yet but more may be
Big Fines Continue for Banks Over FX, Benchmark Rates
The U.S. Government has handed down billions of dollars of fines to banks for manipulation of prices in the foreign exchange markets and benchmark interest
SEC Whistleblower Office Awards $17 Million
The SEC whistleblower program seems to be hitting its stride recently, with five whistleblowers awarded more than $26 million over the past month. The latest
Supreme Court Weighs in on False Claims Act Seal Violations
The Supreme Court will undertake review of another False Claims Act case after accepting the petition of State Farm to reconsider the 5th Circuit Court
New Overtime Pay Rules to Start in December
The Department of Labor has finalized regulations to require overtime pay to approximately 4.2 million salaried workers. In order for a business to claim that
SEC Whistleblower Awarded $3.5 Million for Critical Tip
The Securities and Exchange Commission on Friday announced an award of $3.5 million to a whistleblower that bolstered an existing investigation. The government has now
Medicare FFS’ 3 Year Improper Payment Total: $125 Billion
From 2013 to 2015, Medicare paid out a total of $125 billion under the Medicare Fee-For-Service program according to a recent article in Bloomberg. The