ABA Section of International Law Virtual Meeting
Paul Leder will present, "Anti-Corruption Provisions in the National Defense Authorization Act," a panel discussion at the ABA Section of International Law International Anti-Corruption Committee Virtual Meeting on January 21, 2021. Panelists will discuss the noteworthy anti-corruption provisions included in the National Defense Authorization Act including:
- Disgorgement Authority: Explicit statutory authority to pursue disgorgement for violations of federal securities laws, and the extension of the statute of limitations on disgorgement in certain fraud-related cases from five to ten years.
- Kleptocracy Asset Recovery Rewards Act: Expansion of whistleblower protections to those reporting of potential violations of anti-money-laundering laws, and authorization for the payment of substantial rewards to individuals who provide information on foreign government corruption that leads to successful asset recovery.
- Anti-Money Laundering Act of 2020 (AML Act)/Corporate Transparency Act (CTA): Creation of a registry, overseen by the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN), to require most U.S. companies to report beneficial ownership information to FinCEN to counter the use of anonymous companies for money laundering purposes.