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Corruption: The French National Financial Prosecutor Signed His Fifth Judicial Public Interest Agreement

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A guest post today from Paris-based Bryan Cave Leighton Paisner attorneys Cécile Terret, David Père and Perrine Ader.

Recently, the French company Egis Avia, a subsidiary of the Egis group, agreed to pay a fine of €2.6 million to end the proceedings for corruption in connection with a contract to modernise the airport in Oran, Algeria. The fine was negotiated with the National Financial Prosecutor (the “NPF”) under a French legal instrument, namely the Convention Judiciaire d’Interêt Public (Judicial Public Interest Agreement; the “CJIP”).

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The Equity Facade Of SEC Disgorgement

SEC

Recently the Supreme Court agreed to hear Liu v. SEC in which the question presented is the following: “Whether the Securities and Exchange Commission may seek and obtain disgorgement from a court as “equitable relief” for a securities law violation even though this Court has determined that such disgorgement is a penalty.” (See here for the prior post).

Given this development, the below guest post from Russ Ryan (King & Spalding) which originally was published on FCPA Professor in 2013, is republished.

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SEC Injunctions: A New Standard?

injunction

Several Foreign Corrupt Practices Act enforcement actions brought by the SEC have included an “obey-the-law” injunction as a condition of settlement. In the below guest post, Thomas Gorman (Dorsey & Whitney) discusses a recent Third Circuit opinion challenging the imposition of such an injunction.

The post originally appeared on Gorman’s informative SEC Actions blog and is reproduced below with permission.

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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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