July 9, 2020
As highlighted in this post, 16 companies have resolved FCPA enforcement actions – not once – but twice. Seven of these instances have occurred since 2017.
Note: this post uses the term repeat offender to mean a business organization that has resolved more than one FCPA enforcement action regardless of which agency (DOJ or SEC) brought the enforcement action; regardless of the form of resolution (plea agreement, NPA, DPA, administrative order, etc.) and regardless of whether the charges or findings were anti-bribery violations or books and records and internal controls violations in connection with foreign bribery issues. This post does not include instances in which a company resolved an enforcement action concerning foreign bribery and then resolved an action implicating the books and records and internal controls in a so-called non-FCPA FCPA enforcement action. (See here and here for examples).
July 8, 2020
A guest post from Russell Ryan (King & Spalding and former Assistant Director of the SEC’s Division of Enforcement).
Most readers of FCPA Professor are well aware that tolling agreements are commonplace in Foreign Corrupt Practices Act investigations. Investigations in this space are notoriously lengthy and protracted, in part because misconduct can remain hidden for years and a good portion of the relevant evidence and witnesses is typically located overseas.
July 7, 2020
As highlighted in this prior post, the DOJ and SEC quietly released a Second Edition of the FCPA Guidance last week on the Friday of a holiday weekend.
Future posts will discuss how: (i) the Second Edition (like the original Guidance) is replete with selective information, half-truths, and worse information that is demonstratively false; and (ii) how the Second Edition (like the Original Guidance) contains several spot-on sensible statements that can be used as a measuring stick for future enforcement activity.
In the meantime, this post offers some big picture reflections on the Second Edition of the FCPA Guidance.
July 6, 2020
This recent post went in-depth into the SEC’s recent $21.5 million Foreign Corrupt Practices Act enforcement action against Alexion Pharmaceuticals and this post highlights additional issues to consider.
Alexion became the subject of FCPA scrutiny in May 2015. Thus, from start to finish, its scrutiny lasted more than 4 years. I’ve said it many times, and will continue saying it until the cows come home, if the SEC wants its FCPA enforcement program to be viewed as credible and effective it must resolve instances of FCPA scrutiny much quicker.
July 4, 2020
FCPA Professor has been described as “the Wall Street Journal concerning all things FCPA-related,” and “the most authoritative source for those seeking to understand and apply the FCPA.”
Set forth below are the topics discussed this week on FCPA Professor.
As highlighted here, the DOJ and SEC quietly released a Second Edition of “A Resource Guide to the Foreign Corrupt Practices Act” (FCPA Guidance).