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.
DOJ Updates FCPA Corporate Enforcement Policy Again
The DOJ recently announced updates to its FCPA Corporate Enforcement Policy. Michael Volkov shares how, while the changes were relatively minor, the modifications underscored important principles surrounding the FCPA Corporate Enforcement Policy. There is no question that the DOJ has landed on a Corporate Enforcement Policy that took years to develop. The FCPA Corporate Enforcement Policy now applies to all corporate...
The Unaoil Exec’s Guilty Pleas: The Ahsanis’ Criminal Information
The bribery described here is audacious; the scale of the corruption is stunning. Monaco-based Unaoil maintained a global scheme of wrong-doing that involved more than 1,400 employees, 10 countries and at least 27 different entities. The company pleaded guilty in March to arranging millions in bribes, making it one of the most significant FCPA enforcements of all time. Will this...
Inconsistencies in FCPA Enforcement: Key Considerations for a Potential FCPA Voluntary Disclosure
In multiple recent cases, it seems the DOJ has softened its approach on charging self-disclosing companies for FCPA crimes involving aggravated circumstances. Bass, Berry & Sims’ Lindsey Fetzer, Thad McBride and Abby Yi discuss the implications. The U.S. Foreign Corrupt Practices Act (FCPA) does not mandate self-disclosure of potential violations. However, when determining whether to charge a corporation and how...
Time for Japan to Take a Tougher Stance on Foreign Bribery
Some apparent deficiencies have come to light in Japan’s prosecution of foreign bribery, and the OECD is urging the country to take action to close loopholes and stiffen penalties. Clifford Chance’s Wendy Wysong, Tess Forge and Catherine Ho weigh in. with co-authors Tess Forge and Catherine Ho In June 2019, the Organization for Economic Cooperation and Development (OECD) Working Group...
Beware the Unintended Consequences: Perspective and Guidance on Anti-Corruption Compliance
Audrey Harris, partner and co-chair of Mayer Brown’s global anti-corruption & FCPA practice, talks all things anti-corruption – from Jay Clayton’s critique of regulators’ lackluster enforcement to the next frontier of compliance. CCI: Tell us about your background. How did you get your start in compliance? Audrey Harris: After Georgetown Law, I spent my associate and early partner years at...
Barclays Agrees to Pay $6.3M FCPA Settlement
Michael Volkov details the recent FCPA settlement against Barclays for improper hiring practices stretching back several years. One key factor that allowed the issue to continue for so long: a seeming lack of awareness of applicable anti-corruption laws. Barclays joined the club of global financial institutions settling FCPA violations for hiring of relatives of foreign officials in Asia. Barclays agreed to...
What’s Next for Compliance Enforcement?
The 2005 docudrama Syriana captured the moment just before FCPA enforcement reached the great heights we’ve come to expect today. Anne Eberhardt theorizes on the areas where authorities may focus next. The makers of the film Syriana posed several intriguing questions. Just how poisoned by Big Oil is the American foreign policy establishment? What exactly is Syrian about a film...
Deutsche Bank Settles FCPA Case with SEC for $16 Million for Hiring Relatives of Public Officials
Deutsche Bank’s hiring practices in the Asia-Pacific region have exposed the institution to corruption risk, and SEC has taken note. Michael Volkov provides details on the company’s recent FCPA settlement with the SEC. If there ever was a poster child for reputational damage for a financial institution, Deutsche Bank would be the first and only candidate. Talk about a bank that...
Microsoft FCPA Enforcement Action
The Microsoft FCPA resolution was recently announced, with the total fine and interest paid by Microsoft to the SEC at approximately $16 million via a cease and desist order. The DOJ resolved its investigation via an NPA, and Microsoft President Brad Smith has acknowledged the FCPA violations publicly, saying "there is no room for compromise when it comes to ethical...
Entering Greece: Mitigating FCPA Risk and Maximizing Opportunities in a Global Economy
Entering new markets requires copious amounts of due diligence. While there are risks of corruption and bribery, Greece offers many intriguing perks. KLINK President and CEO Jeffrey Klink outlines the current opportunities and risks of conducting business in Greece. In today’s global economy, finding the right avenues to maximize opportunities and mitigate risks is crucial to protecting your most important...
The Murky Business of Corporate Ownership in China and the Broad Application of the FCPA
Corporate ownership in China isn’t always crystal clear. One safe approach: just assume the business is state owned. Tom Fox discusses FCPA guidance for companies with business dealings in China. How important is due diligence on those with whom you do business? Why does it matter if a company is owned or controlled by a foreign government or a political...
The FCPA Compliance Challenges in Using WhatsApp and How Companies Can Address Them
Matteson Ellis describes what a compliance policy for ephemeral communications should look like – a concern for Latin American countries in particular, where WhatsApp is used widely. Perhaps in no region of the world is WhatsApp used more frequently than in Latin America. From Mexico to Patagonia, people rely on the application constantly for both personal and professional use. With...
