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A Focus On Third-Party Practices

focus

Navex Global recently released this report titled “2017 Ethics and Compliance 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 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. For instance, the survey was based on 427 survey respondents, with approximately 40% of respondents coming from large companies, and approximately 15% of respondents coming from the banking/financial services.

In any event, as highlighted below there are certain survey findings which caught my eye.

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FCPA Inc. Desparately Needs Some Basic Standards

standards

In 2010 I coined the term “FCPA Inc.” as shorthand term used to describe a vibrant, niche industry consisting of numerous market participants and not just lawyers. Regardless of what you think of the term, FCPA Inc. has become part of the FCPA lexicon and it is undisputed that FCPA Inc. is a multi-billion dollar industry.

Yet this niche industry lacks basic standards and the lack of standards causes untold amounts of confusion. My article “A Common Language to Remedy Distorted FCPA Enforcement Statistics” focuses on the lack of standards regarding the basic issue of “what is an FCPA enforcement.”The establishment and acceptance of a common language (and standards) is a sign of maturity in many professions, yet FCPA Inc. also lacks standards for even the most basic task of assembling a list of the Top Ten FCPA Enforcement Actions.

It’s been said that a picture is worth 1,000 words and thus what follows is 3,000 words of visual proof of this troubling dynamic through reference to the recent Telia enforcement action (see here and here for prior posts).

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The Top Ten List Of FCPA Disgorgement Amounts

top ten

Everybody, it seems, likes “Top Ten” lists.

This post highlights the top ten corporate FCPA disgorgement (and prejudgment interest) amounts in FCPA history.

The list highlights net FCPA disgorgement (and prejudgment interest) amounts after consistently accounting for (unlike other lists out there) certain credits or deductions in enforcement actions for foreign law enforcement actions or forfeiture amounts paid to the DOJ in a parallel proceeding.

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The Top Ten List Of Corporate FCPA Settlements

top ten

Everybody, it seems, likes “Top Ten” lists.

This post highlights the top ten corporate FCPA settlements of all-time.

It seems odd saying this, but the list (unlike other lists out there) only includes enforcement actions where the corporate defendant was charged with or found to be in violation of the FCPA’s provisions (not other laws). In addition, this list highlights net FCPA settlement amounts after consistently accounting for (unlike other lists out there) certain credits or deductions in several enforcement actions involving foreign companies.

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FCPA Flash – A Conversation With Kara Brockmeyer (Former Chief Of The SEC’s FCPA Unit)

FCPA Flash

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 Kara Brockmeyer. Earlier this year, Brockmeyer left the SEC where she served as Chief of the SEC’s FCPA Unit since 2011. In the podcast Brockmeyer (currently a partner at Debevoise & Plimpton): looks back at her time as FCPA Unit Chief including what she views as the most significant matters / trends; discusses a few items that, in her view, are not well-understood or appreciated about the SEC’s FCPA enforcement program; explains theories of enforcement regarding the FCPA’s internal controls provisions; and shares insights regarding the SEC’s whistleblower program relevant to the FCPA.

The podcast is a must listen for any FCPA practitioner or compliance professional.

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