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Stimulus Bill And Strings: Massive Federal Spending Will Be Accompanied By Increased Inspectors General Oversight And Investigations
The American Recovery and Reinvestment Act of 2009 ("the Recovery Act" or the "Act") will result in massive new federal spending, much of it through grants, contracts and procurement. As always, with federal money there are strings attached. Indeed, the Act directs more than $350 million to...
Read MoreLessons From A False Claims Act Case Alleging A Violation Of The Anti-Kickback Act: United States ex rel. Pogue v. Diabetes Treatment Centers
Over the last decade, the government's primary enforcement vehicle regarding the Anti-Kickback Statute ("AKS"), 42 U.S.C. § 1230a-7b, and the Stark Law, 42 U.S.C. § 1395nn, has been whistleblower actions filed under the False Claims Act ("FCA"). In one recent case, United States ex rel. Pogue...
Read MoreLimiting The Scope Of The False Claims Act: The Tenth Circuit's Decision In United States ex rel. Conner v. Salina Regional Health Center
In November 2008, the Department of Justice (DOJ) announced that it secured more than $1.34 billion in False Claims Act (FCA) recoveries in fiscal year 2008. Almost the full amount of these recoveries - $1.12 billion - stemmed from health care cases. As DOJ stiffens its resolve to enforce the...
Read MoreTreasury Issues Final CFIUS Regulations And Guidance On National Security Considerations
On November 14, 2008, the U.S. Department of the Treasury issued final regulations implementing the Foreign Investment and National Security Act of 2007 ("FINSA"), the statute that reforms the process by which the interagency Committee on Foreign Investment in the United States ("CFIUS") conducts...
Read MoreCalifornia: Where The Fiscal Crisis Is Writ Large
Editor: Frank, you have more than 25 years of experience in mergers and acquisitions, corporate finance and public company representations. Have you ever seen a time like the present in terms of turmoil in the financial markets? Reddick : Nothing like we're experiencing right now. Over the course...
Read MoreSecurities And Exchange Board Of India Amends Policy Measures On Offshore Derivative Instruments
Introduction In response to the turmoil in the U.S. financial markets, the Securities and Exchange Board of India (SEBI) announced in a press release issued on Monday, October 6, significant changes to Indian regulations governing foreign institutional investors (FIIs) and unregistered...
Read MoreNew Economic Sanctions Enforcement Guidelines Issued By OFAC
On September 8, 2008, the U.S. Treasury's Office of Foreign Assets Control (OFAC) issued new Economic Sanctions Enforcement Guidelines ("Guidelines") as an interim final rule establishing the new framework by which the agency will assess penalties under last year's statutory increase in the maximum...
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