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. 

Building facade reads United States Court House - District Court in Texas .

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...

DOJ Enforcement in 2022: What the Monaco Memo and US Anti-Corruption Strategy Forecast for the Year Ahead

DOJ Enforcement in 2022: What the Monaco Memo and US Anti-Corruption Strategy Forecast for the Year Ahead

DOJ's latest remarks (via Deputy Attorney General Lisa Monaco) on corporate criminal enforcement carry important implications for compliance teams. Going forward, the department will take a wider view of companies' past wrongdoing, require more detailed information on individuals related to actions in question and allow for the broader use of monitorships.  Over the last year, the Biden Administration announced policies...

Tom Fox’s FCPA Year in Review: A Look Back at the Corruption Cases & Enforcement Actions That Defined 2021

Tom Fox’s FCPA Year in Review: A Look Back at the Corruption Cases & Enforcement Actions That Defined 2021

While 2021 may have been rather light when it comes to the number of FCPA enforcement actions, that doesn't mean the year was unlikely to have major corruption and FCPA enforcement action implications for years to come. A pair of late-year announcements from the Biden Administration portend sweeping changes, and in his trademark style, Tom Fox reviews corruption cases and...

illustration of two hands shaking

Effective and Efficient Pre-Transaction FCPA Diligence: How to Leverage Compliance and ESG to Avoid Buyer’s Remorse and Other Headaches

The arduous process of FCPA compliance requires risk teams to digest and cross-reference a morass of information – from internal data analysis to human representatives collecting interviews on the ground. Diligence failures can bring about both enforcements and missed opportunities. As U.S. authorities, namely the U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC), state in their...

Credit Suisse building in Zurich.

Credit Suisse Ignored $250+ Million Shortfalls and Contracted with “The Master of Kickbacks” to Facilitate the Tuna Bonds Scheme

Credit Suisse agreed to pay $547 million to resolve a bribery and fraud scheme involving investments and financing arrangements for $850 million loan for the EMATUM tuna fishing operation. The fallout has dealt the Mozambique economy a crippling blow. Credit Suisse Group AG, a global financial institution, and its London-based European subsidiary, Credit Suisse Securities (Europe) Limited (CSSEL) on October...

Former Brazilian Petrochemical CEO Sentenced to 20 Months in Prison Over FCPA Violations

Former Brazilian Petrochemical CEO Sentenced to 20 Months in Prison Over FCPA Violations

DOJ says scheme involved diverting millions from company into slush fund and paying bribes to Brazilian government officials, political parties and others. A Brazilian man who previously served as the chief executive officer of Braskem S.A., a publicly traded Brazilian petrochemical company, was sentenced Oct. 13 in the Eastern District of New York to 20 months in prison for a...

A person leaves the Ericsson head office in Gothenburg.

In Break with Tradition, DOJ Indicted Former Ericsson Employee for Role in Foreign Bribery Scheme

A former Ericsson employee allegedly employed "financial sleight-of-hand involving a sham consulting contract, a false due-diligence report, and fake invoices" to conceal a bribe to Djiboutian government officials. The DOJ broke with previous practices in indicting him personally. In a surprising (but fully warranted) twist, the Justice Department returned an indictment on September 8 against a former employee of Telefonaktiebolaget...

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