Top Menu

A Game Of Cat And Mouse

catandmouse

The DOJ has long talked about how “greater transparency benefits everyone” (see here).

In this May 2017 speech, a high-ranking DOJ official talked about “the importance of transparency in our anti-corruption prosecutions.”

In this August 2017 speech, a high-ranking DOJ official stated: “We are taking additional steps to enhance our enforcement of the FCPA against both corporate and individual actors, and to promote transparency in doing so.”

In announcing its November 2017 FCPA Corporate Enforcement Policy (see here) the DOJ talked about greater “clarity about our decision-making process” and the “advantage of the policy for businesses is to provide transparency about the benefits available if they satisfy the requirements.”

Against this backdrop, if the DOJ is truly committed to transparency and clarity in the FCPA context, why does it continue to play cat and mouse games with the business community about terms and conditions it uses in describing its own enforcement policies?

Continue Reading

FCPA Flash – A Conversation With Alice Fisher Regarding DOJ FCPA Enforcement And Policy

Podcast Logo

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 Alice Fisher (Latham & Watkins and former Assistant Attorney General in charge of the DOJ’s Criminal Division). During the podcast, Fisher discusses: the DOJ’s recent non-binding policy discouraging “piling on”;  the DOJ’s FCPA Opinion Procedure program in light of her 2006 comments as Assistant AG that the program should “be something that is useful as a guide to business”; whether the DOJ’s long-standing efforts to encourage voluntary disclosure have failed (for instance in the same above-linked speech Fisher stated: “I can tell you [companies] in unequivocal terms that you will get a real benefit” for voluntary disclosure; whether FCPA enforcement (in terms of resolution vehicles, enforcement theories, DOJ/SEC policy, etc.) has evolved for the better or the worse since her time at the DOJ; and what about the FCPA (the actual statute) or FCPA enforcement (DOJ/SEC enforcement policy, resolution vehicles, etc.) should change and why.

Continue Reading

Friday Roundup

Roundup

ISO 37001 airball, from the Inspector General report, scrutiny alert, good lord, marketing an impossible dream, root causes, and yes it is. It’s all here in the Friday roundup.

ISO 37001 Airball

If you have an interest in the non-story of ISO 37001 check out this podcast in which Alexandra Wrage (Trace International) asks some very good questions of a Microsoft representative.

To use a basketball analogy, the Microsoft’s reps answers were air balls full of buzzwords and cliches. 

Continue Reading

SEC Potpourri

SEC

A suggestion for the SEC and excerpts from a recent speech by Steven Peikin (Co-Director, Division of Enforcement) on effective communication with the SEC.

Suggestion for the SEC

As highlighted here, the SEC recently launched SEC Action Lookup for Individuals (SALI) “that enables investors to research whether the person trying to sell them investments has a judgment or order entered against them in an enforcement action. The new tool is intended to assist the public in making informed investment decisions and avoiding financial fraud.”

Continue Reading

A Dandy, FCPA Relevant Speech By SEC Commissioner Peirce

Peirce

Recently, SEC Commissioner Hester Peirce delivered this speech. Peirce never mentioned the Foreign Corrupt Practices Act, but so much of the speech is FCPA relevant.

Indeed, Peirce touches upon topics discussed for years on FCPA Professor such as: the seeming emphasis by government of quantity of enforcement over quality of enforcement; the timing of SEC enforcement actions at the end of a fiscal year as a form of “earnings management;” how the SEC should use other avenues short of enforcement actions to address new and emerging issues (I’ve long believed that the SEC should have used a Section 21(a) Report of Investigation, rather than enforcement actions, to address internship and hiring practice issues); the importance of due process in enforcement; how enforcement agencies should not expand the law through enforcement just because they can; and how issuers and others subject to SEC enforcement settle for simple reasons of risk aversion.

Continue Reading

Powered by WordPress. Designed by WooThemes