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Issues To Consider From The Walmart Enforcement Action

Issues

This prior post went in-depth into the long-awaited Walmart Foreign Corrupt Practices Act enforcement action in which the company agreed to pay the DOJ/SEC approximately $283 million. This post highlights additional issues to consider from the enforcement action.

Timeline

Walmart was under FCPA scrutiny since approximately mid-2011. Thus, from start to finish its FCPA scrutiny lasted an unconscionable approximate 8 years. There is simply no excuse for this and the DOJ/SEC have long-recognized the issues associated with long-drawn out investigations.

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This Week On FCPA Professor

ThisWeekPost

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, approximately 7.5 years after disclosing FCPA scrutiny, Walmart FINALLY resolves an FCPA enforcement action by agreeing to pay approximately $282 million.

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Approximately 7.5 Years After Disclosing FCPA Scrutiny, Walmart FINALLY Resolves FCPA Enforcement Action

Wal-Mart

As highlighted in this prior post, in late 2011 Walmart disclosed that it began “an internal investigation into whether certain matters, including permitting, licensing and inspections, were in compliance” with the FCPA.

So began arguably one of the most high-profile instances of corporate scrutiny in Foreign Corrupt Practices Act. history. The scrutiny FINALLY came to an end yesterday as the DOJ and SEC announced (here and here) a coordinated $282 million enforcement action. As highlighted in this prior post, Walmart disclosed this likely settlement amount in November 2017,  yet it still took approximately 1.5 additional years to formally resolve the matter.

This post summarizes the DOJ and SEC’s enforcement action concerning alleged improper conduct in the following countries: Mexico, Brazil, India and China.  Future posts will explore numerous other issues relevant to the enforcement action.

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Why Is It So Difficult For Rep. Jackie Speier (A Lawyer) To Understand The FCPA?

speier

Politicians of any party are entitled to whatever opinions they have regarding public policy issues or other politicians.

However, they are not entitled to opinions about the basics of a law and what it captures.

Representative Jackie Speier (D-CA) is a lawyer and received a J.D. from UC Hastings College of the Law.  As such presumably she knows how to read a statute and determine its essential elements.

Yet time and time again, as it relates to Representative Speier’s views on President Donald Trump, she has displayed a shocking misunderstanding of what the Foreign Corrupt Practices Act covers.

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