Recent Posts
Follow Us
twittergoogle_pluslinkedinrssyoutube
The Legal Stuff
Government Enforcement Exposed - "The GEE"
0 0

05 Nov 2015 “Hide No Harm Act Of 2015” Targets Employers, Directors and Officers

The 114th Congress has now taken up the policy recently announced by the Department of Justice (DOJ) through the Yates Memo. The Hide No Harm Act (S.2140) would impose criminal penalties upon corporate officers who fail to advise an appropriate federal agency of “serious danger associated with a product, service or business practice.” Corporate officers who fail to notify an appropriate agency of the federal government regarding any serious danger associated with a covered product, service or business practice within twenty-four hours of the individual receiving notice of such dangers could be punished by a fine and imprisonment for up to five (5) years. A fine imposed upon an individual for violating the Act “may not be paid, directly or indirectly, out of the assets…

READ MORE
0 0

30 Jun 2014 Six Things SEC Chair White Wants Directors to Know About How to Avoid Being on the Receiving End of an Enforcement Action

  After SEC Chair Mary Jo White announced last fall that the SEC’s enforcement program included a new focus “deficient gatekeepers,” such as directors,  and the SEC filed two separate cases against audit committee chairs in March (case 1 and case 2), directors of public companies could be forgiven for feeling as if they had targets on their backs.   Nevertheless, White told those attending the annual Stanford Directors’ College earlier this month that that focus and those recent cases “should not strike fear in the heart of a conscientious, diligent director.”  She then proceeded to outline what a director can do to qualify in the SEC’s eyes as one of those conscientious, diligent directors.   Make sure that the board and the CEO set the tone at…

READ MORE