California Lawyer 2015 Round Table Series: White-Collar Defense
California attorneys recently gathered together for a round table series on white-collar defense. The roundtable was moderated by California Lawyer and reported by Cherree P. Peterson of Barkley Court Reporters. Thanks to the February 2015 publication source, California Lawyer, below are a few of the highlights from this very informative discussion on criminal law in Los Angeles.
Highlights from the California Lawyer 2015 Round Table Series
In 2014 there was a much-publicized white-collar incident, where two hedge fund managers had their insider trading convictions overturned by the U.S. Court of Appeals for the Second Circuit in U.S. v. Newman, No. 13-1837 (Dec. 10, 2014). During the roundtable, participants were asked about the rationale regarding this decision. Timothy P. Crudo of Coblentz Patch Duffy & Bass; Eugene Illovsky of Morrison & Foerster; John F. Libby of Manatt, Phelps & Phillips; and Kyle Waldinger of the U.S. Attorney’s Office, Northern District of California all shared their insights. However, Eugene Illovsky, a white collar crime attorney, concluded discussions saying, “The end result is that cases with more remote tippees may not be charged criminally, but will be handled by the Securities and Exchange Commission. And districts other than the Southern District of New York will get involved and start to flex their securities muscle.”
Important Current And Future Trends Are Revealed
The round table discussions revealed a game changing decision on insider trading. The participants also discussed the new sentencing guidelines for fraud convictions. It was revealed that there will soon be more robust options for filing charges under the bank fraud statutes. Incredibly informative insights from the Department of Justice were provided on health care billing.
In addition, long-term trends are beginning to produce more administrative hearings from the Securities and Exchange Commission. These trends have lead to the “virtual death” of joint defense for both corporations and their insiders. In this vein, John Libby commented that, “Deferred prosecution agreements have been helpful, especially for corporations in regulated industries who can’t afford to go to trial.”
A few of the roundtable’s additional highlights included Timothy Crudo comments on the recent developments in white-collar criminal law. Mr. Crudo responded that, “Justice Scalia is wary of regulations applicable in both civil and criminal cases that stretch criminal liability to reach conduct that the underlying statute doesn’t clearly cover.”
In conclusion, the California Lawyer 2015 Roundtable Series: White-Collar Defense provided many informative insights into the current trends within this niche sector. To learn more about the California Lawyer 2015 Round Table Series: White-Collar Defense and how it will affect California laws, visit www.youareinnocent.com to contact a knowledgeable Los Angeles criminal law attorney, or call (310) 277-1707.
