Barry Pollack Quoted in Compliance Week Regarding Fraud Enforcement and Recovery Act

“First New Fraud Law: More Money, More Commissions"
Compliance Week
05.19.09Barry Pollack discusses the Fraud Enforcement and Recovery Act (FERA) currently in Congress, which will provide more money to the SEC, the FBI, the Justice Department, and other regulators to step up enforcement on corporate fraud and will amend the False Claims Act to bolster recoveries in civil cases initiated by private litigants.  After the 9/11 attacks, Pollack says, U.S. law enforcement agencies diverted resources to terrorism investigations and “left themselves thin” on resources to go after business crimes, and “this is an indicator they intend to beef up that side of the house again.” Pollack further comments, “I’m not convinced the False Claims Act changes are going to have a big impact from a compliance standpoint, though they may have some impact on how individual cases get litigated.”
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