FinCEN's Proposed Rule Targeting Digital Asset Mixers

Daniel Wendt, a member at Miller & Chevalier, discusses the new Foreign Extortion Prevention Act that was signed into law by President Biden in December 2023.  FEPA was designed to prevent extortion by foreign officials and criminalizes the act of foreign officials demanding bribes addressing a potential gap in the FCPA. Here is a link to a recent alert that Miller & Chevalier published on FEPA as well as a link to Daniel’s bio and contact information. 

Evan Abrams is an Associate at Steptoe & Johnson and advises clients on issues related to anti-money laundering and anti-corruption, among others. He came on the show to discuss FinCEN’s recent proposed rule targeting digital asset mixers. The proposed rule is part of an effort by the Department of Treasury to crackdown on cryptocurrency anonymity services such as digital asset mixers which can be used as a money laundering tool by rogue states, terrorist organizations, and criminals. The issuance of the proposed rule comes on the heels of the October 7 Hamas attack as the group has been accused of using digital asset mixers. You can get in touch with Evan at this link and a link to the related piece he co-authored on the Steptoe website is here.

David Rybicki and Neil Smith of the law firm K&L Gates discuss the new Department of Justice Safe Harbor Policy for voluntary self-disclosure made in connection with M&A. The discussion covers several different focus points, including concerns that need to be top of mind for acquirers, key industries to watch, and the growing importance of deeper due diligence, both pre and post deal. You can find links to David and Neils’ contact information here (David) and here (Neil) as well as the US Policy and Regulatory Alert on the Safe Harbor Policy that the firm published on their website. 

David Rybicki and Neil Smith is co-lead K&L Gates’ White Collar Defense and Investigations practice Group that focuses on government investigations, securities enforcement, internal investigations, and white collar defense representations. 

Ann Sultan and Alexandra Beaulieu of the law firm Miller & Chevalier came on the show to discuss recent enforcement developments and trends concerning the Foreign Corrupt Practices Act. Ann is a Partner and Vice Chair of the International Department at the firm and provides public companies and private organizations with advice on a wide range of enforcement, ethics and compliance topics. Alexandra is an Associate at the firm and focuses her practice on the design and implementation of risk-based corporate compliance programs and internal and government investigations. You can find a link to a recent review of FCPA enforcement trends and developments published by the firm here. 

Mike Blankenship came back on the show to discuss the IPO underwriting process, the role of due diligence and the state of the IPO market. Mike is a Managing Partner at the Houston office of Winston & Strawn and focuses his practice on corporate finance and securities law, including securities offerings, public company advisory, special purpose company offerings, among others.  You can find a link to Mike's bio and contact information on the Winston & Strawn website here as well as a link to the Underwriting Process presentation that the firm published in May here.

Carrie LeRoy and Charles Walker of the lawfirm Gibson Dunn discuss key takeaways from a bulletin they published on the Gibson Dunn website titled M&A Report: Top Technology Sector-Specific Legal Diligence Concerns in Acquisitions. They discussed the pitfalls that exist for technology acquisitions from intellectual property ownership to cyber security to bribery and corruption risks from third parties. Below is a link to the bulletin as well as links to their bios on the Gibson Dunn website to get in touch.

Gibson Dunn Bulletin

Carrie LeRoy Bio

Charles Walker Bio

Laura Black and Christian Davis of the lawfirm Akin Gump discuss the likelihood and implications of an outbound investment regulation regime to protect US national security interests that would screen and monitor outbound investment from the United States to “countries of concern”.  You can check out recent thought leadership published by the firm here as well as information on how to get in touch.

Kenneth Nunnenkamp is a partner with Morgan Lewis and represents clients in international trade and national security matters. He came on the show to speak about what the Corporate Transparency Act (CTA) is and its implications for companies and financial institutions going forward.  You can read recent material published by Morgan Lewis on the CTA here.

Clare Connellan, Partner in White & Case’s London office and Head of the firm's Business & Human Rights Interest Group, joins the RiskWatch podcast to share strategies for ensuring compliance with Modern Slavery and Supply Chain regulations, including the Uyghur Forced Labor Prevention Act and the German Supply Chain Act. This conversation covers:

• 00:00 - 00:49 Introduction
• 00:50 - 02:54 An overview of White & Case’s Business & Human Rights Interest Group
• 02:55 - 03:59 Clare’s path to human rights due diligence
• 04:00 - 05:55 Best practices for legal teams 
• 05:56 - 06:51 Starting point for overwhelmed compliance officers
• 06:52 - 09:50 The Uyghur Forced Labor Prevention Act
• 09:51 - 13:07 The German Supply Chain Act
• 13:08 - 15:28 Increasing scrutiny of corporate social statements 
• 15:29 - 16:32 Growth of human rights-focused compliance roles
• 16:33 - 17:44 Regulations to watch

Founder of Kaya Advisors and former Tilray EU Alliance Manager, Steven Arthur George, joins the RiskWatch podcast to discuss risk and opportunity in the corporate cannabis space, including recreational legalization in Germany and the evolution of third party relationships. This conversation covers:

00:31 - 00:51 Introduction 

00:52 - 05:50 Steve’s trans-Atlantic cannabis journey

05:51 - 11:30 Comparing the European and US corporate cannabis markets

11:31 - 14:00 Market growth predictions

14:01 - 15:42 The corporate cannabis risk landscape

15:43 - 18:59 The evolution of third party risk in the cannabis industry

19:00 - 22:14 Vetting local partners

22:15 - 27:29 Supply chain struggles and human rights concerns

27:30 - 29:00 Partnership hesitations of traditional industries

29:01 - 32:45 Engaging the cannabis community on social media