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SEC Chair Clayton Says That “In Many Areas Of The World, Our [FCPA] Work May Not Be Having The Desired Effect”

Jay Clayton

These pages have long posed the question of whether the Foreign Corrupt Practices Act has been successful in achieving its objectives. (See here for a recent law review article titled “Has the FCPA Been Successful in Achieving Its Objectives” – see also here for FCPA Flash podcast episodes on the topic).

These pages have also long posed the question of whether country exits in the aftermath of FCPA scrutiny or enforcement are a good thing (as the government often seems to suggest) or rather a bad thing. (See here for numerous posts).

Yesterday, in this speech, SEC Chairman Jay Clayton discussed the same topics and offered candid observations that seemingly conflict with much of the government’s FCPA enforcement rhetoric over the last several years.

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“Frankly, If You Bring In A Couple Billion Dollars A Year, You Just Keep On Going,” And Other Musings From Former FCPA Prosecutors

listeningin

This Trace International Bribe, Swindle or Steal podcast is a recording of a recent panel discussion between former FCPA prosecutors Charles Duross (DOJ), Nat Edmonds (DOJ) and Richard Grime (SEC).

It is an informative listen on several levels including voluntary disclosure and international cooperation and set forth below are some of the more candid comments from the former FCPA prosecutors.

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SEC Co-Director Of Enforcement Peikin On International Cooperation

Peikin

Recently Steven Peikin (Co-Director of the SEC’s Enforcement Division) delivered this speech in which he talked about international cooperation and how it is “critical to the SEC’s civil law enforcement success” including the Foreign Corrupt Practices Act space.

In addition, Peikin stated that “vigorous enforcement of the FCPA remains a high priority for the SEC.”

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FCPA Flash Podcast – A Conversation With Kevin Abikoff Regarding FCPA Compliance Challenges And Other Developments

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 Kevin Abikoff (Co-chair of Hughes Hubbard & Reed’s Anti-Corruption and Internal Investigations Practice Group). In the podcast, Abikoff discusses: FCPA compliance challenges; his top two legal or policy developments in 2018 in the FCPA space; and whether the FCPA has truly been successful in achieving its objectives.

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FCPA Unit Chief Kahn On Multijurisdictional Cases

Kahn

Recently, DOJ Foreign Corrupt Practices Act Unit Chief Daniel Kahn penned an article in the Department of Justice Journal of Federal Law and Practice titled “Responding to the Upward Trend of Multijurisdictional Cases: Problems and Solutions.”

The Journal of Federal Law and Practice is the renamed United States Attorneys’ Bulletin and compared to delivering speeches, it is nice to see our public officials write articles (complete with certain footnotes) on topics they oversee.

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