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Unaoil – The Trace International Piece Of The Puzzle

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Trace International describes itself as “a globally recognized anti-bribery business organization and leading provider of third party risk management solutions.” (See here). According to Trace, its “due diligence solutions” are “based on internationally accepted best practices and our experience and familiarity with the compliance needs of multinational companies.”

According to Trace, being “Trace Certified” “means that you or your company have completed a comprehensive due diligence process administered by TRACE, the world’s leading anti-bribery standard setting organization.” Trace states that “the successful completion of TRACE certification demonstrates your commitment to commercial transparency, allowing you to serve as a valued business partner to multinational companies” and that one of the advantages of being Trace certified is “gain[ing] a valuable compliance credential that differentiates you from competitors and is widely recognized in the international business community.” (See here).

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I’m Not Sure Why A Law Firm Actively Marketed This “Favorable” Settlement

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As highlighted in prior posts here and here, the recent Foreign Corrupt Practices Act enforcement action against Juniper Networks was an $11.7 million joke.

For starters, the company was under FCPA scrutiny for an unconscionable six years, the conduct at issue was beyond any conceivable statute of limitations, the SEC invoked an internal controls standard of liability that does not even exist in the FCPA, the company agreed to pay $5.2 million in disgorgement even though the SEC did not allege or find any violations of the FCPA’s anti-bribery provisions, and a fair read of the SEC’s allegations is that the parent company was a victim of subsidiary employee conduct.

In short, if I was with the law firm representing Juniper Networks in connection with this enforcement action, I certainly would not actively market my participation in this joke of an enforcement action and would most certainly not call it a “favorable” settlement for my client. Yet that is exactly what the law firm representing Juniper Networks did with this release.

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Friday Roundup

Roundup

Scrutiny alerts and updates, charged, it needs to stop, and my answer. It’s all here in the Friday roundup.

Scrutiny Alerts and Updates

Plantronics/Polycom

In March 2018, Plantronics (an audio communications company) announced that it entered into a definitive agreement by which it would acquire Polycom in a cash and stock transaction valued at $2.0 billion. The transaction closed in early July and recently Plantronics disclosed:

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And The Best FCPA Lawyer Is …

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The short answer is how the heck would I know and what criteria would even be used?

Is one a “best” FCPA lawyer if one assists a business organization with a compliance program that effectively manages and minimizes risk such that the company is never under FCPA scrutiny and resolves an enforcement action?

Is one a “best” FCPA lawyer if one conducts a multi-million dollar internal investigation or is this “boiling the ocean” and deserving of a “worst” FCPA lawyer?

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FCPA Flash Podcast – A Conversation With Machua Millett Regarding FCPA Insurance

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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 Machua Millett (Chief Innovation Officer, FINPRO US Marsh) regarding FCPA insurance. In 2012, FCPA Professor published this Q&A with Millett regarding the topic and in the podcast Millett provides an update on the relevant issues.

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