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A Focus On Third Parties

focus

Navex Global recently released this report titled “2018 Third-Party Risk Management Benchmark Report.” I am always a bit skeptical of such survey data given that the results often seem to dovetail nicely with the product offering of the company publishing the survey. Indeed, a final section of the report is titled “About Navex Global’s Third-Party Risk Management Solution.”

Moreover, I often wonder whether such surveys are even statistically valid.

In any event, there were certain survey findings which caught my eye.

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With Survey Results Like These, Can We Truly Say That The FCPA Has Been Successful?

shrug

In this the Foreign Corrupt Practices Act’s 40th year, it is appropriate to ask the salient question of whether the FCPA has been successful.

Granted, politicians are known for making aspirational statements, nevertheless during the FCPA’s enactment Congressional leaders stated – among other things – “the legislation before the committee … would end corporate bribery” and “the goal [of the FCPA] is the elimination of foreign bribery.”

Yet, recent survey results seriously call into question whether the FCPA has been successful in achieving its objectives.

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The Fallacy That The FCPA Was “Dormant” For Decades

Wrong

There is a common narrative in certain circles that the FCPA was dormant for its first 20-25 years. Five minutes of simple research provides the following examples.

The FCPA was passed in 1977 but “the statute effectively lay dormant for years.”

For over two decades the FCPA rested mostly dormant.”

First enacted in 1977 in a wave of post-Watergate anti-corruption sentiment, the FCPA had laid dormant and relatively forgotten until the early 2000s …

Most recently, a guest post on the FCPA Blog states: “[The FCPA] lay nearly dormant for pretty much a quarter of a century before it was picked up, dusted off and used by prosecutors.

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Friday Roundup

Roundup

Motion to dismiss denied, scrutiny alert, guilty plea, reverse, FCPA resolution template, perplexing, funny, and fake news. It’s all here in the Friday roundup.

Motion to Dismiss Denied

As highlighted in this prior post, in November 2017 the DOJ announced that Chi Ping Patrick Ho (of Hong Kong, China) and Cheikh Gadio (of Senegal) were criminally charged with conspiring to violate the FCPA, violating the FCPA, conspiring to commit international money laundering, and committing international money laundering.

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Friday Roundup

Roundup

Scrutiny alerts and updates, quotable, and for the reading stack. It’s all here in the Friday roundup.

Scrutiny Alerts and Updates

As highlighted in this recent post, Glencore plc, an Anglo–Swiss mining company with headquarters in Switzerland and ADRs traded on a U.S. exchange recently announced that it received a subpoena from the DOJ “to produce documents and other records with respect to compliance with the Foreign Corrupt Practices Act and United States money laundering statutes.  The requested documents relate to the Glencore Group’s business in Nigeria, the Democratic Republic of Congo and Venezuela from 2007 to present.”

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