US Chamber of Commerce Calls For False Claims Act Reform

Law360, Los Angeles (October 24, 2013, 10:08 PM EDT) -- The U.S. Chamber of Commerce issued a report Wednesday criticizing what it calls abuses in the federal government’s enforcement of the False Claims Act, accusing the Department of Justice of wielding the threat of devastating treble-damages that can come with losing a suit to force companies into oversized settlements.

The Chamber said in the report that the current enforcement structure gives whistleblowers in qui tam suits too large of an incentive in high-damages cases and that the law doesn’t properly incentivize companies to create proactive compliance...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.