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December 5, 2013

In the News Today – December 5, 2013

The SEC’s co-director of enforcement said that “FCPA law…is not well developed” at a recent event. The FCPA Professor calls the comment the most notable – and candid – statement by an FCPA enforcement official in recent years.

Republican Mark Obenshain has officially requested a recount in the race for Virginia attorney general. Obenshain lost to Democrat Mark Herring by 165 votes in an election with 2.2 million votes cast. Legal Newsline

A government report accuses three banks of continuing to violate the terms of a $25 billion mortgage settlement by mishandling requests to lower the payments of certain borrowers. Washington Post

A St. Clair County judge has yet to decide whether an asbestos case filed by a Mississippi man can be heard in Illinois court. In 2012, the Illinois Supreme Court ruled the case belongs in Mississippi, but the judge is waiting on the plaintiff’s lawyer to respond to defendants’ motions to move the suit to a more convenient forum. Madison County Record

The European Union has imposed fines of € 1.71 billion ($2.32 billion) on six financial institutions accused of manipulating key interest rates. Wall Street Journal

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