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TRENDING TAGS
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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Insider Probe: When Tranquility is Shattered by a Knock at the Door
Last week's FBI raids and federal subpoenas prompted law firm O’Melveny & Myers to issue a client alert that recommends first asking for identification, then calling an O’Melveny lawyer for advice. The alert provides the home and cellphone numbers of some top lawyers - in case the FBI pay an unwelcome visit late at night. It also suggests that clients read the warrant, dismiss all nonessential employees for the day and, of course, don’t consent to a search.
Should agents try to get their hands on any legal documents, clients are advised to “tell them those documents are privileged and ask them to wait until attorneys arrive to speak with them about this issue.”
OMM also points out 3 important general principles for employee interviews by law enforcement agents:
- The company may not instruct employees to refuse to answer questions. Such an instruction could be construed as obstruction of justice.
- Employees have a right not to answer questions if they so wish.
- Employees are entitled to have the advice of a lawyer before they answer any questions.
For further details, and to access the Client Alert, click onto: [OMM Letter, on Scribd, 11/26]
[NYT Dealbook, 11/26]

