- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-09-12T16:51:00
The Department of Justice (DOJ) announced new positions in its National Security Division to support the agency’s crackdown on sanctions evasion, export control violations, and other forms of economic crime.
Ian Richardson was named the division’s first chief counsel for corporate enforcement, said the DOJ in a press release Monday. Previously, Richardson served as an assistant U.S. attorney for the Eastern District of New York.
The DOJ also appointed Christian Nauvel as deputy chief counsel for corporate enforcement. Nauvel most recently served as senior counsel to the assistant attorney general for the Criminal Division.
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Christian Nauvel, deputy chief counsel for corporate enforcement in the Department of Justice’s National Security Division, said the agency’s focus on national security is “top of mind at the highest levels” and that enforcement numbers are set to increase.
All the carrots being offered by the Department of Justice in the past year—greater penalty reduction thresholds, relief related to compensation clawbacks, voluntary self-disclosure incentives—are part of a strategy to strengthen the enforcement stick when companies don’t cooperate.
The Department of Justice’s push to incentivize companies to voluntarily self-disclose potential misconduct reached its next stage in the form of a safe harbor policy regarding mergers and acquisitions.
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
French defense and aviation contractor Thales Group is under investigation by authorities in the U.K. and France for allegedly participating in bribery and corruption.
Hedge fund manager Scott Bessent, named by Donald Trump on Friday as his nominee for Treasury Secretary, has a clear mandate to deregulate the financial markets should he take the helm.
