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Cain Takes the Reins as Chief of SEC’s FCPA Unit

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, … Continue reading

Events & Publications

  • THE CLEARING HOUSE ANNUAL CONFERENCE (Nov. 2017): Financial Regulatory Advice and Response Team members Ed O’Keefe and Tom Pennington, joined by Neil Bloomfield, Josh Lanning and Brian Soja attended The Clearing House’s Annual Conference in New York City, November 6-8, 2017. MVA served as a Gold Partner for the conference, sponsoring the Annual Chairman’s Reception. The banking industry's premier banking conference featured two and a half days of programming which included keynote speakers Rod J. Rosenstein, Deputy Attorney General, U.S. Department of Justice; Keith Noreika, Acting Comptroller of the Currency; and Sigal P. Mandelker, Under Secretary for Terrorism and Financial Intelligence, U.S. Department of Treasury, among others. In-depth panels focused on today's most pressing issues for financial institutions.  Take a look at some highlights from the 2016 conference and featured TCH moments from 2017.
  • PRESENTATION TO THE ACC OF THE FUTURE OF THE MARKETS WITHOUT LIBOR (Nov. 2017) - Neil Bloomfield, Rob Kenny, and Zack King joined with Jim Blair from WCM Global Wealth for a presentation to the Association of Corporate Counsel on a future of the markets where LIBOR may no longer exist. In a speech on July 27, 2017, Andrew Bailey, the Chief Executive of the U.K. Financial Conduct Authority (“FCA”), discussed the future of LIBOR. Mr. Bailey explained that work must begin in earnest to plan for the transition away from LIBOR. He explained that the FCA had spoken to “current panel banks about agreeing voluntarily to sustain LIBOR for a four to five-year period, i.e. until end-2021.” This speech has led many to believe they will need to transition away from LIBOR as a reference rate by 2022. (more…)
  • FORMER COMPTROLLER CURRY HONORED AT OCC ALUMNI EVENT (Oct. 2017): On Thursday, October 12, the Alumni Association of the Office of the Comptroller of the Currency (OCC) held a reception and dinner in Washington, D.C. honoring the service and achievements of former Comptroller Thomas J. Curry, who left office on May 5, 2017.  Among other initiatives, Mr. Curry approved and oversaw agency efforts to encourage responsible technological innovation by national banks and savings associations, including the creation of an Office of Innovation, which has facilitated a dialogue among banks and fintech companies.  Mr. Curry also directed the OCC to explore and consider the merits of granting a special purpose national bank charter to fintech companies.  Although this proposal prompted lawsuits against the OCC by the Conference of State Bank Supervisors and the New York State Department of Financial Services, it received a public statement of support from Mr. Curry’s successor, Acting Comptroller Keith A. Noreika. (more…)
  • MVA LITIGATION CLIENT ADVISORY UPDATE (Oct. 2017): James P. McLoughlin, Jr., Neil T. Bloomfield, and Elena F. Mitchell issued a Client Advisory Update titled "Judge Refuses to Dismiss SEC Action Against RPM International and Its General Counsel Alleging Loss Contingency Disclosure Failures." On Friday September 29, 2017, U.S. District Judge Amy Berman Jackson denied the motions to dismiss filed by RPM International, Inc. and its general counsel, Edward Moore, discussed in our previous Client Advisory. Judge Jackson concluded the SEC’s allegations stated plausible fraud claims against RPM and Moore and RPM and Moore had failed in their duty to disclose and accrue for a Department of Justice investigation pursuant to generally accepted accounting principles, in particular Accounting Standards Codification (“ASC”) 450. Click here to read the full Client Advisory Update discussing the court's ruling. 
  • MVA LITIGATION CLIENT ADVISORY (Aug. 2017): 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 material loss contingency and record an accrual as a result of the filing of a qui tam complaint against RPM and a subsidiary and a resulting Department of Justice investigation. RPM International doubles down on the SEC’s effort to require earlier disclosures of loss contingencies based upon internal evaluations without waiting for the classic internal triggers of a government demand or notice of a pending action by the government. Click to read the full Client Advisory
  • FINANCIAL REGULATORY ADVICE AND RESPONSE TEAM ISSUE CLIENT ALERT (Aug 2017): Jim McLoughlin, Ed O’Keefe and Tom Pennington issued a client alert titled, “Focusing on the Mission While Watching Macro Trends,” on August 16. The alert provides clients with guidance on how to focus on a commonly understood corporate mission while watching for macro trends which ultimately will reduce the risk of unstable environments. The three macro trends discussed in the article include: The US Common Market Is Fraying; Reduced Returns Heighten Focus on Costs; and Process-Based Management Can Be More Fully Deployed. Click here to read more.
  • O'KEEFE SPEAKS AT TURNAROUND MANAGEMENT ASSOCIATION CONFERENCE (June 2017): Ed O’Keefe participated in a panel discussion at the Turnaround Management Association (TMA)’s 2017 Southeast Regional Conference & Capital Mall on June 9 in Isle of Palms, SC. The panel discussed regulation and loan markets, new & growing sources of capital and anticipating de-regulation. The TMA Southeast Regional Conference is the "go-to" place for education, networking, and sourcing turnaround capital in the southeast United States. This event was attended by capital providers, CPAs, appraisers, auctioneers, lenders catering to special situations, bankruptcy attorneys, and advisors capable of assisting troubled companies.

Welcome to the Regulatory Advice and White Collar Defense Blog!

As government authorities around the world create a constantly evolving regulatory environment, conduct overlapping investigations, and bring parallel proceedings, companies are facing perhaps the most challenging regulatory and criminal enforcement environment. Moore & Van Allen has created this blog to help keep our clients up to date in these fast-moving areas and to serve as a thought leader as regulations and enforcement policy continue to develop. Our blog is a combined effort of Moore & Van Allen’s White Collar Defense and Investigations Team and our Financial Regulatory Advice and Response Team.


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MVA’s White Collar Defense and Investigations Team services clients in some of the most heavily regulated and scrutinized industries in the U.S. and abroad. This team is made up of former government attorneys from the DOJ and OCC, as well as private practitioners, with decades of experience representing Fortune 100 institutions in domestic and international criminal and regulatory inquires in the United States, the rest of North America, United Kingdom, Europe, South America, and the Asia-Pacific region.

Our Financial Regulatory Advice and Response Team combines the experience of former general counsels from some of the largest international financial institutions with that of our seasoned regulatory attorneys to advise clients complex multi-regulator environment on a wide variety of complex regulatory compliance matters, including Comprehensive Capital Analysis and Review (CCAR), Recovery and Resolution Planning, Risk Data Aggregation, the Volcker Rule, consumer finance regulations, and bank secrecy and anti-money laundering regulations. Meet Our White Collar Defense and Financial Regulatory Response Teams.

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No Legal Advice Intended: This website includes information about legal issues and legal developments. Such materials are for informational purposes only and may not reflect the most current legal developments. These informational materials are not intended, and should not be taken, as legal advice on any particular set of facts or circumstances. You should contact an attorney for advice on specific legal problems. (Read All)