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Once Again, Don’t Believe The Hype – Rather Ask What Viable Criminal Charges Against Johnson Controls Did The DOJ Actually Decline?

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In its nearly 40 years of existence, there have been numerous SEC Foreign Corrupt Practices Act enforcement actions against issuers that did not also involve a DOJ component.

As highlighted below and also last month in this very similar post involving Nortek and Akamai Technologies, there is a simple reason for this. Not all civil SEC FCPA enforcement actions involve viable criminal charges against an issuer.

For most of the FCPA’s history, the DOJ never saw the need to highlight the FCPA cases it did not bring. But in April 2016 the DOJ announced its so-called FCPA “Pilot Program” and went into public relations marketing mode.

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Nortek / Akamai – Don’t Believe The Hype, Rather Ask What Viable Criminal Charges Did The DOJ Actually Decline?

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Earlier this week, at the same time the SEC announced non-prosecution agreements against Nortek and Akamai Technlogies (see here and here for prior posts), the DOJ released two “declination” letters involving the companies. [Note: the FCPA Blog’s assertion that the letters were “released by the companies and not by the DOJ” is false. The DOJ’s press office released the letters in an e-mail titled “Department Declination Letters for Akamai and Nortek FCPA Inquiries” on Tuesday, June 7th at 12:24 p.m.]

Before the expected flood of FCPA Inc. client alerts and commentary regurgitating the assertions in the DOJ letters and otherwise extoling the virtues of the DOJ’s FCPA Pilot Program, this post intervenes by posing the salient question – based on the information in the the public domain just what viable charges did the DOJ decline?

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Two For Tuesday In FCPA Enforcement Land – Akamai Technologies

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Just when you think you’ve seen all possible combinations of Foreign Corrupt Practices Act enforcement, along comes yesterday’s “two for Tuesday” in which the SEC announced in the same press release two non-prosecution agreements against two separate companies and the DOJ simultaneously released two so-called “declination” letters against the same two companies.

This post highlights the enforcement action against Akamai Technologies and today’s first post highlights the enforcement action against Nortek Inc.. From there future posts will highlight issues to consider from the enforcement actions (and there are many including the question of just what charges – based on the SEC’s statement of facts – did the DOJ actually decline?”).

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Two For Tuesday In FCPA Enforcement Land – First Up Nortek

nortek

Just when you think you’ve seen all possible combinations of Foreign Corrupt Practices Act enforcement, along comes yesterday’s “two for Tuesday” in which the SEC announced in the same press release two non-prosecution agreements against two separate companies and the DOJ simultaneously released two so-called “declination” letters against the same two companies.

This post highlights the enforcement action against Nortek Inc. and a second post today highlights the enforcement action against Akamai Technologies. From there future posts will highlight issues to consider from the enforcement actions (and there are many including the question of just what charges – based on the SEC’s statement of facts – did the DOJ actually decline?”).

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Friday Roundup

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Not something you see everyday, Yates Memo related, quotable, scrutiny alerts and updates, and for the reading stack. It’s all here in the Friday roundup.

Not Something You See Everyday

It’s not everyday that you see a director of a publicly-traded company publicly resign because the director thinks the company is engaged in improper conduct including FCPA violations.

But that is just what Michael Moss, until recently a director of Malvern Bancorp, did.

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