If someone is convicted of a federal offense in St. Louis, the sentence he or she faces is governed by federal sentencing guidelines that apply across the country. These guidelines have had a reputation for years as being extremely unfair in many cases. For years, many federal judges have therefore called upon Congress to overhaul the guidelines.
Securities regulation has become ever more complicated in recent years. The financial crisis of 2008 prompted a series of reforms passed by Congress in a bill known as the Dodd-Frank Act.
Federal prosecutors have shown yet again that they are determined to go after what they perceive to be a problem with fraud and other forms of white-collar crime. The latest indicator is a series of six regional summit meetings held around the country on stopping fraud.