Parallel proceedings
Definition
Simultaneous civil and criminal proceedings arising from the same underlying facts, often before different tribunals. A company may face a civil SEC enforcement action, a parallel criminal DOJ prosecution, and a shareholder class-action lawsuit based on identical conduct. Managing disclosure obligations across all three is a core challenge for forensic advisers.
Related terms
- ED (Enforcement Directorate)
- India's Enforcement Directorate investigates economic offences under FEMA and the PMLA 2002. Its primary tools are property attachment under PMLA and prosecution...
- PMLA attachment
- Under India's Prevention of Money Laundering Act 2002, the ED can provisionally attach property believed to be proceeds of crime before any...
- SEC
- The US Securities and Exchange Commission: the federal regulator for securities markets. It has civil enforcement powers, can seek disgorgement, civil penalties,...
- SFIO
- Serious Fraud Investigation Office: a statutory body under India's Ministry of Corporate Affairs that investigates corporate frauds under the Companies Act 2013....
- SFO
- The UK Serious Fraud Office: a department of the Crown that both investigates and prosecutes serious and complex fraud, bribery, and corruption....
Explained in
- Regulatory Investigations: SFIO, ED, and Comparative FrameworksSimultaneous civil and criminal proceedings arising from the same underlying facts, often before different tribunals. A company may face a civil SEC enforcemen...