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Next Up – Deutsche Bank Hands Over $16.2 Million To Uncle Sam

deutsche

First, it was BNY Mellon Corp. in August 2015 for $14.8 million (see here and here for prior posts). Then, it was Qualcomm in March 2016 for $7.5 million (see here and here for prior posts). Then, it was JPMorgan in November 2016 for $202.6 million (see herehere, and here for prior posts). Then, it was Credit Suisse in July 2018 for $77 million (see here and here for prior posts).

Next up in Foreign Corrupt Practices Act enforcement actions (mostly targeting the financial services industry) focusing, in whole or in part, on internship and hiring practices being a form of bribery is Deutsche Bank as the SEC announced yesterday that the German bank with shares traded on the NYSE will pay approximately $16.2 million “to settle changes that it violated the FCPA by hiring relatives of foreign government officials [in both the Asia Pacific Region and Russia] in order to improperly influence them in connection with investment banking business).

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The Number Of FCPA Trials This Fall Is A Coincidence

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Nowadays, it seems, things just can’t happen. Rather when things happen, it must be a sign of something else, causation is assumed, and a supposed new trend with big picture implications is unfolding.

For instance, this Fall there are four Foreign Corrupt Practices Act individual trials scheduled.

This is unusual.

But as highlighted below, it is likely a coincidence and not, as some commentators stated in this Law360 article, a sign that the DOJ’s FCPA Unit is “coming into its own” or that an “increase in prosecutors and agents is behind the uptick in cases.”

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Judge Denies Hoskins’ Motion To Dismiss Based On Violations Of Speedy Trial Act Rights And Fifth And Sixth Amendment Rights

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Previous posts here and here highlighted the motion to dismiss filed by Lawrence Hoskins (a U.K. national criminally charged with FCPA offenses in 2013) based on violations of his Speedy Trial Act rights and his Fifth and Sixth Amendment rights.

Earlier this week, Judge Janet Bond Arterton (D. Conn.) denied the motion to dismiss paving the way for Hoskins’ trial to begin on October 16th.

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Can We Bring Quality FCPA Compliance and Investigative Services to the Underserved Middle Market?

Tough Question

[This guest post from David Simon (Foley & Lardner) was originally published on FCPA Professor on May 21, 2013. Approximately six years later, many of the issues remain.]

Professor Koehler (my former colleague at Foley & Lardner) has been critical of “FCPA Inc.” and, in particular, the astronomical costs associated with certain FCPA investigations and compliance measures.  My friends in the C-Suite of FCPA Inc. have responded defensively – reacting at least in part to a perception that these criticisms suggest a corner-cutting approach to important work that must be done properly.

As an FCPA lawyer with a foot in both camps, let me try to find some common ground.

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The Foreign Extortion Prevention Act:  A Response to Professor Koehler

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Today’s post is from Baker & McKenzie attorneys Tom Firestone and Maria Piontkovska.

As the authors of one of the articles that contributed to the Foreign Extortion Prevention Act (“FEPA” or the “Act”), we would like to address some of the points made in Professor Koehler’s post on the FCPA Professor of August 5 entitled “Bill Seeks To Capture The Demand Side of Foreign Bribery Through Amendment to 18 USC 201.” (See here)

As an initial matter, we applaud Professor Koehler’s longstanding attention to this issue and understand that despite his criticisms of the text of the bill, Professor Koehler supports the concept of criminalizing the demand side of bribery.  He just believes that this should be accomplished through an amendment to the FCPA, rather than to 18 USC §201, as the Act would do and as we suggested in our original article.  In support of this argument, he raises several questions about FEPA.

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