Given my practice area, people often ask me why people commit white-collar crimes. I ask myself this question; and, just as often, I ask myself how can I help my corporate clients mitigate the risks of committing a crime? Despite my lifelong quest to answer both these questions, I have no good answers. Unfortunately, the U.S. Navy must ask itself these same questions. The Navy is dealing with a massive...
According to FAR Part 16, the Federal Government uses fixed-price contracts when it wants to place most of the risk and responsibility for performance on the contractor. This means that fixed-price contracts are generally not subject to being adjusted as a result of the contractor’s costs or profits increasing or decreasing in performance. As a result, when performing a fixed-price contract, the contractor has incentive to control the costs and...
There are times when companies that have Securities Exchange Commission (SEC) reporting requirements AND that perform classified work for the U.S. federal government find themselves in a quandary because… The SEC requires companies to file financial reports in certain instances so the public has the information it needs to make decisions about investing in the company. Those reports require detailed information about the reporting company’s business – for example contracts...
