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Friday Roundup

Roundup

Interesting, from the DOJ’s perspective, pay them more, sanctioned, scrutiny update, exit, and for the reading stack. It’s all here in the Friday roundup.

Interesting

As highlighted here, in December 2016 Odebrecht S.A. (a Brazilian holding company) and Braskem S.A. (a Brazil-based petrochemical company in which Odebrecht owns a majority of voting shares) resolved a large FCPA and related enforcement action largely concerning conduct in Brazil including the companies relationships with Petrobras as well as allegations of improper payments in Angola, Argentina, Brazil, Colombia, Dominican Republic, Ecuador, Guatemala, Mexico, Mozambique, Panama, Peru, and Venezuela.

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Friday Roundup

Roundup

Scrutiny alerts and updates, quotable, and for the reading stack. It’s all here in the Friday roundup.

Scrutiny Alerts and Updates

As highlighted in this recent post, Glencore plc, an Anglo–Swiss mining company with headquarters in Switzerland and ADRs traded on a U.S. exchange recently announced that it received a subpoena from the DOJ “to produce documents and other records with respect to compliance with the Foreign Corrupt Practices Act and United States money laundering statutes.  The requested documents relate to the Glencore Group’s business in Nigeria, the Democratic Republic of Congo and Venezuela from 2007 to present.”

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FCPA Flash – A Conversation With James Copland Regarding NPAs and DPAs

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 podcast is a conversation with James Copland (senior fellow at the Manhattan Institute and director of Legal Policy). Copland has written extensively about the increased use of non-prosecution and deferred prosecution agreements including this recent report titled “The Shadow Regulatory State at the Crossroads: Federal Deferred Prosecution Agreements Face an Uncertain Future.” During the podcast, Copland discusses: why the increased use of NPAs and DPAs is concerning; whether the DOJ (and SEC) should abolish use of NPAs and DPAs; and whether business organizations (and their tendency to be excessively risk averse) are partly to blame for the current state of affairs.

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Friday Roundup

Roundup

Guilty plea, scrutiny alerts, and for the reading stack. It’s all here in the Friday roundup.

Guilty Plea

As highlighted in this prior post, in July 2011 the DOJ criminally charged Amadeus Richers (a former director of Cinergy Telecommunications with one count of conspiracy to violate the FCPA and to commit wire fraud, six counts of FCPA violations, one count of conspiracy to commit money laundering and 19 counts of money laundering) in the sprawling Haiti Teleco enforcement action.

Although Richers was indicted, he remained a fugitive until his arrest and ultimately his extradition from Panama on February 23, 2017.

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FCPA Flash Podcast – A Conversation With Richard Grime (Former Assistant Director of SEC Enforcement) Regarding FCPA Enforcement

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 podcast episode is a conversation with Richard Grime (Gibson, Dunn & Crutcher and former Assistant Director of SEC Enforcement) and is a must listen if you want to hear informed and candid commentary about the current FCPA enforcement landscape from someone who used to enforce the FCPA.

During the podcast, Grime discusses: (i) reasons for the general increase in FCPA enforcement (among the reasons he mentions is “the government has realized this is a money-winner”; (ii) whether FCPA enforcement, including the internal control’s provisions, has been pushed beyond the breaking point (in Grime’s words yes it has and “almost any conduct becomes subject to an enforcement vehicle”); and (iii) whether long, drawn-out FCPA investigations can be avoided.

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