Insights

• The private cell phones of employees in high-stakes internal investigations can put key stakeholder relationships at risk, posing a serious challenge for general counsel or law firms unwilling to “burn a bridge” with a client or other external stakeholder.
• In these complex situations, an independent, “one-off” third party uninterested in pursuing institutional relationships can be critical in delivering an unbiased, confidential assessment.
• Companies should seek to limit liability by taking a few preventive measures to avoid serious risks associated with investigations.

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• Western enforcement agencies like the U.S. Department of Justice (DOJ) increasingly pursue Ultra-High-Net-Worth Individuals (UHNWIs) with cross-border investigations throughout Africa.
• These investigations threaten the UHNWIs' liberty, assets, and reputation and are often initiated solely based on allegations made in the media by adversaries.
• The increased focus of the U.S. DOJ and the aggressive tools at its disposal can put individuals and companies operating throughout Africa at risk of global asset freezes, seizures, and/or other penalties.

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• Ultra-high-net-worth individuals (UHNWIs) operating outside the United States have recently come under increasingly aggressive scrutiny from U.S regulators, including the U.S. Department of Justice (DOJ), and international cooperation agencies such as INTERPOL.
• If an UHNWI is not adequately prepared, these accusations could potentially spiral into global asset freezes and seizures.
• Below, our team discusses pre-emptive measures these potential targets can take to mitigate associated risks.

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• Relations between China and the U.S. will likely remain tense for the foreseeable future, as evidenced by the recent U.S. law mandating TikTok be divested or face a ban.
• Companies and individuals with perceived Chinese associations – including in Greater China, Southeast Asia and the wider region – could be at risk of invasive and politically motivated government enforcement actions.
• Those at risk can take several proactive steps to protect their assets, reputation and liberty.

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• Bad-faith opponents often use elaborate mechanisms to publicly discredit high-net-worth individuals.
• Misinformation can spread across borders rapidly, resulting in reputational harm across borders and languages.
• HNWIs in contentious situations should take a robust and active approach with a carefully calibrated mix of legal and communications interventions.

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• The U.S. Department of Justice announced a new policy promising companies leniency if they report uncovered misconduct within six months of a merger or acquisition.
• Though this may at first appear to be “good news,” it demonstrates the DOJ’s increasing aggressiveness to companies – including non-U.S. companies – that did not commit any wrongdoing.
• We look at why companies should be wary of cooperation, and how they can approach the DOJ more prudently.

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• U.S. regulators are aggressively stretching the bounds of their jurisdiction over the cryptocurrency and digital asset space.
• This puts exchanges, founders, investors and other parties at risk of increased uncertainty and risk of investigation and enforcement.
• Deference may not earn targets leniency – instead, as a recent Kobre & Kim settlement shows, standing up to the regulators can pay dividends.

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• Aggressive antitrust enforcement is a priority for the U.S., both at home and abroad.
• Korean companies are on the radar, particularly with alleged procurement fraud, putting them at risk of massive fines and multijurisdictional investigations.
• We explain the risks and responses Korean companies should consider.

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• U.S. government antitrust agencies – including the U.S. Department of Justice Antitrust Division and Federal Trade Commission – have become increasingly aggressive in their enforcement.
• While this puts more multinational companies with U.S. links at risk, it could also present an opportunity.
• Our team explains how the changing antitrust enforcement environment can provide tools for companies to keep their competitors in check.

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• The South Korean Police are expanding their extraterritorial activities, with many multinational companies now in their sightline.
• Many companies are unfamiliar with handling Korean inquiries and investigations, but their next steps can be crucial to risks to their business.
• Our cross-border team explores strategies to help companies mitigate their risks and stand up to prosecutorial overreach.

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• Israeli and other Middle Eastern and African nationals are increasingly at risk as U.S. and Western enforcement agencies aggressively pursue cross-border actions, in many cases based on incomplete facts.
• With cooperation from countries like Israel, those targeted can risk their assets, reputation and liberty if they are not adequately prepared.
• We explain what steps individuals can take to push back and get the facts straight.

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• Recent comments by top U.S. Department of Justice (DOJ) officials seem to signal an emphasis on leniency programs for companies cooperating on corruption and bribery investigations.
• However, non-U.S. companies should not let their guard down – the DOJ continues to stretch the bounds of its jurisdiction to aggressively prosecute companies beyond the U.S.
• We unpack counteroffensive strategies at-risk companies should consider to stand up to DOJ overreach and drive successful outcomes.

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• The global crypto industry may have celebrated prematurely at a reported win by LBRY amici against the U.S. Securities and Exchange Commission.
• In fact, enforcement threats are at an all-time high, and the SEC and other regulators are emboldened.
• Only by matching the regulator’s aggressiveness with equally aggressive strategies can industry players see success.

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• Reputation is both a highly valuable and sensitive asset for ultra-high net worth individuals (UHNWIs), and is constantly at risk.
• A strategically placed narrative aimed at undermining an individual’s commercial or political objectives can “snowball” to impact many aspects of their personal and professional lives.
• We explain how defensive and proactive strategies can be deployed to defend an UHNWI’s reputation, demonstrate their source of wealth and protect their freedom of movement around the world.

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• Korean and U.S. antitrust enforcers are working ever closer together in investigating potential anticompetitive behavior.
• Korean companies are at risk – even conduct based entirely in Korea could be scrutinized.
• We look at the enforcement hotspots and how Korean companies can deploy an effective multijurisdictional defensive strategy.

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