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Recent Editions
Risk Channel
North America
Federal prosecutors in Manhattan are promoting a more lenient approach to corporate fraud enforcement, encouraging Wall Street firms to voluntarily disclose wrongdoing in exchange for avoiding criminal charges, fines, and public disclosure of settlements. The U.S. Attorney’s Office for the Southern District of New York, historically known for aggressive prosecutions of firms such as Drexel Burnham Lambert and SAC Capital, has been meeting with law firms and corporate advisers to explain its revised self-reporting policy under U.S. Attorney Jay Clayton, the former chair of Apollo Global Management. Under the new framework, companies that self-report fraud could receive private non-prosecution agreements, even in cases involving widespread misconduct, senior executives, significant harm, or prior media exposure. Prosecutors may still pursue individuals involved, but corporations themselves could avoid charges and financial penalties if they cooperate and attempt to compensate victims.
Full Issue
Risk Channel
UK/Europe
ByteDance-owned TikTok has made a final push at the EU Court of Justice, Europe’s highest court, to overturn its designation as a “gatekeeper” under the European Union’s Digital Markets Act (DMA). The case could shape the bloc’s efforts to curb the influence of major technology companies. TikTok was designated a "gatekeeper" under DMA in September 2023, joining other companies including Alphabet's Google, Meta Platforms, Apple, Amazon, Microsoft and Booking.com. TikTok has previously argued that the company failed all three criteria for gatekeeper status: significant market impact, acting as a key business gateway to users, and holding an entrenched market position.
Full Issue