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FCPA Flash – A Conversation With Camilla de Silva (Joint Head of Bribery And Corruption – U.K. Serious Fraud Office)

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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 Camilla de Silva (Joint Head of Bribery and Corruption at the U.K. Serious Fraud Office). During the podcast, de Silva discusses: whether the Bribery Act (including both “hard” and “soft” enforcement) has been successful in achieving its objectives; the SFO’s position on ISO 37001 (it doesn’t have a position); whether the Rolls-Royce enforcement action (see here for a prior post) conflicted with Article 5 of the OECD Convention; and the U.K.’s approach to multi-jurisdictional issues.

See here for a previous FCPA Flash podcast episode with Matthew Wagstaff (Joint Head of Bribery and Corruption at the U.K. Serious Fraud Office).

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Revisiting The ISO 37001 Standard

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Today’s post is from Covington & Burling attorneys Jennifer Saperstein and Benjamin Haley.

Since its release in October 2016, the International Standards Organization’s ISO 37001 Anti-Bribery Management System has generated debate among anti-corruption compliance professionals as to whether the standard represents a meaningful contribution to compliance best practices or much ado about nothing.  As we approach 18 months since the issuance of the standard, it is a good time to revisit this debate.

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Corporate Boards Do NOT Need ISO 37001 To Act Consistent With Fiduciary Duties

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Since ISO 37001 was released in October 2016 (see here), there have been many creative attempts to market ISO 37001 services.

This recent article with the click bait headline “How ISO 37001 Might Protect You From Shareholder Lawsuits” is the latest example.

However, contrary to the suggestion in the article, corporate boards do not need ISO 37001 to act consistent with fiduciary duties. Moreover, as discussed below, the article contains incomplete and inaccurate statements of law.

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Friday Roundup

Roundup

Guilty plea, Petrobras civil settlement, Alstom is done reporting, scrutiny alert, SEC FCPA enforcement, from the docket, checking in up north, and for the reading stack. It’s all here in the Friday roundup.

Guilty Plea

As highlighted in this prior post, in January 2017 the DOJ announced an FCPA and related enforcement action against four individuals for their roles in a scheme to pay $2.5 million in bribes to facilitate the $800 million sale of a commercial building in Vietnam (the so-called Landmark 72) to a Middle Eastern sovereign wealth fund.

Today, the DOJ announced: “Joo Hyun Bahn, aka Dennis Bahn, 39, of Tenafly, New Jersey, pleaded guilty in federal court in Manhattan to one count of conspiracy to violate the Foreign Corrupt Practices Act (FCPA) and one count of violating the FCPA.  U.S. District Judge Edgardo Ramos of the Southern District of New York accepted the guilty plea.  Sentencing is scheduled for June 29 …”.

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Friday Roundup

Roundup

Former SEC FCPA Unit Chief Kara Brockmeyer on declinations and voluntary disclosure, Wal-Mart’s global chief ethics and compliance officer on increased standardization in global anti-corruption efforts, scrutiny updates, French first, and for the reading stack.

It’s all here in the Friday Roundup.

Former SEC FCPA Unit Chief Kara Brockmeyer On Declinations and Voluntary Disclosure

Brockmeyer is profiled in this recent Corporate Crime Report Q&A. (See here for a recent FCPA Flash podcast with Brockmeyer).

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