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Following U.K. DPA, Company Executives Acquitted Of The Same Alleged Underlying Conduct

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A guest post today from Dan Stowers (Shoosmith LLP in London).

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Michael Sorby was the first managing director to be prosecuted, and then found not guilty, following the conclusion of a Deferred Prosecution Agreement (DPA)[1] between the Serious Fraud Office (SFO) and Sarclad (formally publicised as XYZ). (See here and here). Represented by Dan Stowers (Shoosmiths LLP), John Harrison QC (St Pauls Chambers) and Henry Grunwald QC (Charter Chambers) the verdicts from the jury, and directed by the trial judge, further confirms that the SFO has struggled to prosecute individuals on charges stemming from the DPAs, which became available in 2014. The verdicts throw into doubt any prosecution of individuals following a DPA and the suitability of the DPA process as a whole.

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French Authorities Release New Guidelines For Settlement Agreements In Corporate Prosecutions

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Today’s post is from Cecile Terret and David Pere (attorneys with Bryan Cave Leighton Paisner in Paris).

On June 27, 2019, the French financial prosecutor (Procureur de la République Financier – PRF) and the French Anti-Corruption Agency (Agence française anticorruption – AFA) published new 18-page guidelines about an alternative system to corporate prosecutions which dates back to 2016. (See here).

These guidelines specify the conditions of application of the anti-corruption law known as “Sapin II”, adopted by France in 2016, which provides the possibility for the PRF, as an alternative to prosecution, to enter into a settlement agreement (known in French as the “Convention Judiciaire d’Intérêt Public”, – CJIP).

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A Compliance Professional Speaks

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[This post was originally published on FCPA Professor on November 12, 2014 by an anonymous compliance professional]

When you’re the Chief Compliance Officer (“CCO”) of a company that ends up in the middle of one of “those” all-encompassing FCPA investigations (as if there’s any other kind), people often want to know . . . what is it like?  How does it feel to be at ground zero of pure FCPA adrenaline?   This is my answer,  based on my repeated experiences.  I wish I could say it just happened once.  This is also based on my discussions with other CCOs.

It’s a rollercoaster with few ups and a lot of downs.

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China’s Blocking Statute Creates New Challenges for Multinational Companies

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A guest post today from Ropes & Gray attorneys Ryan RohlfsenDavid Zhang and Karen Oddo.

Introduction

The People’s Republic of China (“PRC”) recently enacted the International Criminal Judicial Assistance Law (“ICJAL”).  The ICJAL effectively serves as a blocking statute that requires approval by PRC governmental authorities before any institution, organization or individual within the territory of the PRC can provide evidence, materials or assistance to any foreign countries’ criminal proceedings.

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Civil Enforcement of Canada’s Foreign Corruption Law?

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A guest post by Graeme Hamilton and Omar Madhany (both with Borden Ladner Gervais LLP in Toronto).

Perhaps the starkest difference between the Foreign Corrupt Practices Act and Canada’s foreign corruption law—the Corruption of Foreign Public Officials Act (CFPOA)—is the fact that the CFPOA may only be enforced criminally.  As a result, enforcement authorities in Canada are held to the higher criminal standard of proof beyond a reasonable doubt when negotiating with a company to resolve a CFPOA investigation or contemplating whether to bring CFPOA charges.

The lack of a civil enforcement mechanism for the CFPOA is often cited as one of the main reasons for the disparity between the volume of foreign corruption enforcement activity in the U.S. and Canada.  A recent settlement announced by the Ontario Securities Commission (OSC) with Katanga Mining Ltd. (Katanga), however, may signal the beginning of a shift in this landscape by establishing a role for Canada’s securities regulators in tackling foreign corruption from a civil context.

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