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Included as part of the National Defense Authorization Act, the
Corporation Transparency Act (CTA), enacted on January 1, 2020, is
an effort by the federal government to crack down on what are
commonly referred to as shell companies and stem the
rising level of illicit activity, such as money laundering and
fraud, that these shell companies are often used for. The CTA was
created to be a tool for the U.S. Treasury Department s
Financial Crimes Enforcement Network (FinCEN) to pierce the veil of
companies to identify the individuals who truly own and control
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Geoffrey Ritts, a partner in Jones Day s Securities
Litigation & SEC Enforcement Practice, will be among the
participants in a panel discussion titled Commencement of a
Civil Action: Filing the Complaint, Preparing the Motion to
Dismiss, Coordinating Multiple Securities Litigation Actions,
at PLI s Securities Litigation 2021: From Investigation
to Trial webinar on March 29.
The landscape of securities litigation is constantly evolving
and changing. PLI s program reviews all the issues that can
arise in the most complex securities matters from the initial
government investigation to the filing of the civil cases to either
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As the first quarter of 2021 comes to a close, cyberattacks are
only gaining momentum. As we reported last month,
these attacks have become big business for threat actors, and
companies are working hard to be prepared. Taking stock of
potential risks – and risk management techniques – can
be a useful exercise in this environment. For this, tools from
change management can help. Change management, particular
sustainable change management, teaches us not to jump head-first
into action, but first to take stock of what actions will be most
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In 2020, the biggest Foreign Corrupt Practices Act
( FCPA ) headline was the record-shattering global
anticorruption enforcement fines and penalties collected by foreign
regulators in actions involving a coordinated FCPA resolution. In
the United States, the DOJ and the SEC also collected record fines
and penalties, but those numbers were eclipsed by the global
figures. While the COVID-19 pandemic did not appear to slow the
ability to resolve cases that were near resolution, it did impact
ongoing corporate and individual investigations due to the
complications of conducting witness interviews and collecting
In Short
The Situation: With a new federal
administration committed to expansive environmental policy change,
a wave of state attorney general environmental action is likely
also on the horizon.
The Result: As new environmental initiatives
rollout, state attorneys general will likely become more active in
challenging or supporting proposed regulatory changes. While some
of this activity may fall along party lines, some will be
bipartisan. An uptick in enforcement actions is also likely
looming, as state attorneys general embrace the new
administration s emphasis on environmental change.
Looking Ahead: State attorneys general have
increasingly acted through multistate coalitions in recent years,