FCPA
What is the FCPA? The abbreviation stands for the Foreign Corrupt Practices Act. The FCPA is a 1977 US amendment that focuses on provisions related to anti-bribery and transparency through corporate accounting transactions. The following FCPA articles are written by and for compliance and legal professionals and cover FCPA news, events, whitepapers, podcasts, and webinars and more.
Monaco Memo 2.0: Companies Should Start Preparing Now for Future DOJ Investigations
Following up on her watershed 2021 memo, Deputy Attorney General Lisa Monaco’s latest missive highlights a pair of issues that companies need to begin preparing for now if they are to avoid major FCPA repercussions down the line. John E. Davis, member and practice lead of Miller & Chevalier’s FCPA and international anti-corruption practice in Washington, D.C., digs into the...
Oracle: FCPA Recidivist
Breaking down the FCPA allegations against technology company Oracle Corp. Unpacking Oracle FCPA Enforcement Action Oracle: FCPA Recidivist What’s in this whitepaper from Tom Fox:For the second time, Oracle Corp., the Austin-based technology giant, has run afoul of provisions of the FCPA, according to the SEC. The agency has ordered the company to pay more than $23 million to resolve...
The Essentials You Need to Know About FCPA Opinion Procedure Releases
FCPA opinion releases can form part of your compliance program guidance arsenal, but there have only been two of them in the past seven years, so if you are relatively new to ethics and compliance, you may not be so familiar with them. In this month’s column, Mary Shirley covers some of the basics about FCPA opinion releases, offering takeaways...
Stericycle FCPA Enforcement Action
Tom Fox dives into the details of Stericycle’s multinational bribery scheme in Latin America that landed the company millions of dollars in fines. The cultural corruption was so deeply embedded that Stericycle was essentially forced to shut down a large part of its Latin American business, according to government documents. In this whitepaper, Fox explores the background of the case...
Reading the Tea Leaves: FCPA Enforcement Trends Send Mixed Signals
Though it’s taken a while to gain steam, the Biden Administration’s approach to FCPA enforcement is becoming clearer. But as compliance expert Michael Volkov explains, prognostication over what DOJ and SEC will do next may be more complicated than it seems. In following the DOJ and the SEC’s FCPA enforcement actions, I am always reminded of the popular phrase “reading...
As Details of $1B Glencore FCPA Settlement Show, Cooperation Pays
The blockbuster settlement and plea agreement by Glencore tells the story of a multinational culture of corruption. Attorney and podcaster Tom Fox breaks down the gory details and offers insight into what this case might reveal about where FCPA enforcement is headed under the Biden Administration. “The rule of law requires that there not be one rule for the powerful...
Compliance and Ethics Lessons Learned from KT Corps’ $6.3 Million FCPA Settlement
The SEC's FCPA settlement with South Korean telecom KT Corporation was relatively light, thanks in part to the latter's cooperation. But the company's missteps remain a cautionary tale for ethics and compliance. Here's where KT Corporation ignored red flags and missed course-correcting opportunities. The SEC on February 17 announced its first FCPA enforcement action in 2022: South Korean telecommunications company...
Did Putin Invade Ukraine to Expand State Corruption?
Russia's invasion of Ukraine may be largely motivated by the drive to expand corrupt practices, writes Columbia University adjunct professor Matthew Murray. To understand the situation, we need to look back to Ukraine's 2013-14 Euromaidan movement. The demonstrations saw Ukrainians protest the government of former President Viktor Yanukovych and his refusal to sign legislation that would lead to EU membership....
Do Individual US Senators Manipulate the Timing of FCPA Enforcement Actions? (Spoiler: No.)
A recent working paper lays out a provocative thesis: senators pressure DOJ to pursue FCPA charges against foreign businesses that operate in their states in the run up to elections. Harvard Law Professor Matthew Stephenson doesn't buy it. Is enforcement of the U.S. Foreign Corrupt Practices Act (FCPA) improperly politicized? The notion that it is has gained traction in some...
How the Biden Administration Has Set the Table to Tackle Corruption
As outlined in a December strategy announcement, the Biden Administration intends to dramatically accelerate the fight against domestic and international corruption. With key leaders confirmed, new methods and resources outlined by recent legislation (with more bills in the offing), and the determination to coordinate across departments, the table has been set to pursue misconduct at a scale not previously witnessed. ...
US District Court Rebuffed DOJ’s Basis for Claiming FCPA Jurisdiction Over Foreign Nationals. But New Precedent Is Unlikely
A U.S. District Court appeared to undermine an important aspect of FCPA cases – the determination of whether a foreign national can be considered a U.S. agent – in a November decision to dismiss charges against a Swiss wealth manager. Explanation for this move is scant, and questions abound. On November 10, 2021, Senior U.S. District Judge Kenneth Hoyt of...
Paul, Weiss 2021 FCPA and Anti-Corruption Enforcement Developments
FCPA enforcements fell in 2021 to their lowest in a decade, but many signs point to a rebound in FCPA and anti-corruption prosecutions in the coming year. Attorneys with the international law firm Paul, Weiss, Rifkind, Wharton & Garrison summarize findings regarding corporate enforcement in 2021, compare it to previous years and look ahead at what's to come in their...
