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Checking In On Wal-Mart’s Pre-Enforcement Action Professional Fees And Compliance Enhancements

August 17, 2018

In yesterday’s 2Q FY2019 earnings call presentation WalMart disclosed $8 million in Foreign Corrupt Practices Act and compliance related expenses ($5 million for ongoing investigations and inquiries and $3 million for global compliance program and organizational enhancements).

Doing the math, Wal-Mart’s 2Q FY2019 FCPA and compliance-related costs is approximately $130,000 per working day.

Over the past approximate 6 years, I have tracked Wal-Mart’s quarterly disclosed pre-enforcement action professional fees and expenses. While some pundits ridiculed me for doing so, it quickly caught on as the popular thing to do.

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FCPA Challenge

August 16, 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 2011 a federal trial court judge vacated the trial court convictions and dismissed the indictment against this company and individuals after finding numerous instances of prosecutorial misconduct – “so many in fact, and so varied, and occurring over so lengthy a period … that they add up to an unusual and extreme picture of a prosecution gone badly awry.”

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Summer FCPA Reading List

August 16, 2018

Summer.

A time for reflection, a time to think, a time to read.

If you have some downtime, put it to good use.

This post provides an overview of FCPA writings that can help you elevate your Foreign Corrupt Practices Act knowledge, sophistication, and practical skills.

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Registration Opens For The FCPA Institute – Philadelphia (Oct. 18-19)

August 15, 2018

Earlier this week professionals from all over the world and from leading firms and companies came to Seattle to elevate their Foreign Corrupt Practices Act knowledge and practical skills at the FCPA Institute – Seattle hosted by KPMG.

The next stop for the FCPA Institute is Philadelphia on October 18-19, 2018 in an event hosted by Pepper Hamilton.

Since 2014, the FCPA Institute has elevated the FCPA knowledge and practical skills of approximately 200 diverse professionals through active learning and this link introduces you to the FCPA Institute; how the FCPA Institute is different than other FCPA conferences; the substantive knowledge and practical skills participants will gain by attending the FCPA Institute; and what prior FCPA Institute “graduates” have said about their experience.

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FCPA Flash: A Conversation With Former DOJ FCPA Prosecutor Bruce Searby Regarding Internship And Hiring Enforcement Actions

August 15, 2018

The FCPA Flash podcast provides in an audio format the same fresh, candid, and informed commentary about the Foreign Corrupt Practices Act and related topics as readers have come to expect from written posts on FCPA Professor.

This FCPA Flash episode is a conversation with Bruce Searby (Searby LLP). Prior to forming this firm, Searby was an enforcement attorney in the DOJ’s FCPA Unit. During the podcast, Searby expands upon points made in his recent article titled “FCPA Liability for Hiring Practices Gain New Credence” including how this enforcement theory is “expansive,” how “no FCPA hiring case has been tested in court,” how in certain of the enforcement actions there are hints that the “government may struggle to establish all the elements required for an anti-bribery violation of the FCPA,” and how “building cases against individuals may be particularly challenging.”

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