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Once Again, The DOJ Shoots Itself In The Foot

September 26, 2017

The Department of Justice want companies to voluntarily disclose conduct that implicates the Foreign Corrupt Practices Act. Notwithstanding the DOJ slapping a formal title on its policy goal in April 2016 (i.e. the FCPA Pilot Program), this has long been the articulated policy position of the DOJ for nearly a decade.

Why then is the DOJ shooting itself in the foot by making decisions that should result in any board member, audit committee member, or general counsel informed of current events not making the decision to voluntarily disclose?

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The Top Ten List Of FCPA Disgorgement Amounts

September 25, 2017

Everybody, it seems, likes “Top Ten” lists.

This post highlights the top ten corporate FCPA disgorgement (and prejudgment interest) amounts in FCPA history.

The list highlights net FCPA disgorgement (and prejudgment interest) amounts after consistently accounting for (unlike other lists out there) certain credits or deductions in enforcement actions for foreign law enforcement actions or forfeiture amounts paid to the DOJ in a parallel proceeding.

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Issues To Consider From The Telia Enforcement Action

September 25, 2017

This previous post went in-depth into the Telia Foreign Corrupt Practices Act enforcement action which contemplates a net $483 million settlement (after accounting for various credits and deductions for contemplated Swedish and Dutch enforcement actions) – the 5th largest net FCPA settlement of all-time.

Set forth below are several additional issues to consider from the enforcement action.

No Books and Records Findings

Off the top of my head, I can recall only one prior instance (BNY Mellon) of an SEC FCPA enforcement action not involving books and records violations or findings. The Telia action is the second instance which is odd given that the SEC found that the “bribe payments were funneled through payments for sham lobbying and consulting services to a front company controlled by the official.”

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Oct. 12th Event Notice – “The FCPA Turns 40” At Texas A&M Law School In Fort Worth

September 24, 2017

Particularly for Texas readers, here is a link to an October 12th symposium at Texas A&M Law School in Ft. Worth (where I teach an FCPA class in addition to my “home” institution) titled “The FCPA Turns 40: An Assessment of FCPA Enforcement Policies and Procedures.”

The free event with CLE credit will include government speakers, professors, practitioners, and a keynote address by Jay Jorgensen (Executive Vice President, Global Chief Ethics and Compliance Officer at Walmart).

The Top Ten List Of Corporate FCPA Settlements

September 22, 2017

Everybody, it seems, likes “Top Ten” lists.

This post highlights the top ten corporate FCPA settlements of all-time.

It seems odd saying this, but the list (unlike other lists out there) only includes enforcement actions where the corporate defendant was charged with or found to be in violation of the FCPA’s provisions (not other laws). In addition, this list highlights net FCPA settlement amounts after consistently accounting for (unlike other lists out there) certain credits or deductions in several enforcement actions involving foreign companies.

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