FCPA

Early last month, the CFTC issued new advisory addressing foreign corrupt practices. Willkie Farr attorneys provide highlights and discuss implications.

Under the FCPA, companies can be punished not only for the wrongful things they do, like paying bribes, but also for certain things they don’t do. In particular, the FCPA’s accounting provisions require companies to have internal controls in place. When companies do not have certain protections, such as appropriate accounting systems and anti-corruption policies, procedures and processes, they risk...

The Department of Justice has recently amended its policy on corporate enforcement of the Foreign Corrupt Practices Act. Michael Volkov covers the DOJ’s clarification of the de-confliction parameters, as well as its stance on the use of ephemeral messaging systems like WhatsApp.

Today, TRACE International releases its ninth annual Global Enforcement Report (GER), a country-by-country look at government-led investigations into suspected bribery allegations. Findings in the report include: A notable growth in U.S. enforcement, with the number of U.S. enforcement actions increasing by 50 percent, approaching the record-setting volume of 2016. In Europe, investigations increased by approximately 37 percent, and the region...

Clifford Chance’s Wendy Wysong and Nick Turner discuss recent sanctions leveled by the U.S. against Russian and Venezuelan corporations and what the implications are for companies doing business in the Asia-Pacific region. with co-author Nick Turner It appears the Trump administration has decided to embrace economic sanctions as a tactical foreign policy weapon, using the U.S. Office of Foreign Assets...

Notable Cases, Settlements and Sentencings Wendy Wysong, Nick Turner and Anthony Pan from Clifford Chance discuss last year’s most significant and substantial FCPA enforcement actions from the Asia-Pacific region – some leveled against corporations and some against individuals. with co-authors Nick Turner and Anthony Pan The pace of Foreign Corrupt Practices Act (FCPA) enforcement in Asia-Pacific remained steady in 2018,...

The More Things Change, The More They Stay the Same With 2018 officially behind us, Michael Volkov looks at FCPA enforcement in 2018, discussing some of the DOJ’s most notable actions. Happy New Year! Another year is in the books for FCPA enforcement and compliance. The headline for this past year (like many other years) is/was – The more things change,...

5 Risky Mistakes Companies Make Third-party relationships result in a majority of FCPA resolutions and investigations. Dan Wendt, member at Miller & Chevalier, discusses why third-party due diligence should be a central part of any anti-corruption program and shares insights into some of the customary ways companies fall short in terms of anti-corruption due diligence. Agents and third parties create...

Indictments and Other Developments Following indictments unsealed last week, Michael Volkov revisits the 1MDB scandal, from the major players to the various wrongdoings. The 1Malaysia Development Berhad scandal (1MDB scandal) has been making headlines for the past few years. The turning point for U.S. prosecutors was the cooperation of Malaysian law enforcement and the corruption allegations surrounding Malaysia’s former Prime Minister...

Applying the FCPA Corporate Enforcement Policy There are many ways a merger or acquisition can go sideways, including the discovery of less-than-legal business practices. However, a recent speech from the Department of Justice should help compliance officers involved in the M&A process rest a little easier in terms of FCPA enforcement. Valerie Charles, Chief Strategy Officer at GAN Integrity, explores the M&A-related...

Historic Corruption and Its Modern-Day Impacts Anne Eberhardt, CFE, CAMS and Senior Director at Gavin/Solmonese, discusses two notable cases involving corruption, bribery and consequent violations of the Foreign Corrupt Practices Act. Each offers instruction for compliance practitioners. This autumn we are commemorating two significant anniversaries: the 10-year anniversary of the financial crisis and the centenary of the end of the...

Resulting Settlements and Remedial Measures Brazilian oil and gas giant Petrobras has entered into a series of settlements in closing out corruption investigations and litigation. For a long period of time, corruption was endemic at the corporation (the DOJ estimates illegally generated funds for payments as at least $2 billion), and the bill is finally coming due. When it comes...