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This Week On FCPA Professor

October 20, 2018

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’s Assistant Attorney General announced that the DOJ has ditched the “shortsighted” compliance counsel position and also announced a new corporate monitor policy. This post highlights additional issues to consider relevant to the new policy.

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DOJ Recognizes “The Need For Better Defined ‘Rules Of The Road’ In Corporate Enforcement

October 19, 2018

Yesterday, Principal Deputy Assistant Attorney General John Cronan delivered this FCPA speech in Brazil.

In the speech, Cronan stated that the DOJ recognizes “the need for better defined ‘rules of the road’ in corporate enforcement” and that the DOJ “has taken affirmative steps to make our prevailing ‘rules of the road’ as plain and predictable as possible” citing as evidence, among other things, the DOJ’s November 2017 Corporate Enforcement Policy (CEP). (See here for numerous prior posts).

In honor of the start of the basketball season, I call a time out – a full time out!

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FCPA Challenge

October 18, 2018

How much do you know about the Foreign Corrupt Practices Act? Let’s find out.

To commemorate the FCPA’s 40th year, FCPA Professor is presenting the FCPA Challenge.

Each Thursday during 2018, a question will be posed and the answer will be below the fold.

This week’s question is: in 1987 an FCPA reform bill passed in the House of Representatives that would have added this to the FCPA?

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Obvious Parallels To Certain FCPA Enforcement Actions In The SEC’s Recent Report Of Investigation

October 18, 2018

I’ve long believed that in certain instances, the SEC should use its Section 21(a) report of investigation powers to address emerging Foreign Corrupt Practices Act issues rather than bring an actual enforcement action.

Recently the SEC did just that in this report “regarding certain cyber-related frauds perpetrated against public companies and related internal accounting controls requirements.”

As highlighted below, in the report the SEC cites FCPA legislative history, prior SEC FCPA guidance, and otherwise takes positions in the report that seemingly undermine its internal controls enforcement theories in many traditional FCPA enforcement actions involving alleged foreign bribery.

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SNC-Lavalin Continues To Pout

October 17, 2018

But Mom / Dad, when Johnny gets into trouble his parents do things a little bit differently, why can’t I benefit from that?

That was my reaction in this February 2015 post when SNC-Lavalin was criminally charged by Canadian authorities for alleged improper payments to Libyan officials. Upon being charged, the company issued this release stating:

“It is important to note that companies in other jurisdictions, such as the United States and United Kingdom, benefit from a different approach that has been effectively used in the public interest to resolve similar matters while balancing accountability and securing the employment, economic and other benefits of businesses.”

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