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Friday Roundup

Roundup

Quotable, SEC Annual Report, it’s called the rule of law – deal with it, across the pond, more ISO 37001 puff pieces, monitor related, for your viewing pleasure, and for the reading stack. It’s all here in the Friday roundup.

Quotable

To those still hyperventilating about Foreign Corrupt Practices Act enforcement in the Trump administration (see here and here), perhaps this might calm you down. As reported here by Wall Street Journal Risk & Compliance: “[FCPA Unit Chief Daniel Kahn dismissed the suggestion that President Donald Trump‘s previous criticism of the FCPA has had any effect on the department’s enforcement of the law. Mr. Kahn said he “spanned both administrations,” referring to Mr. Trump’s predecessor, President Barack Obama, adding, “I am continuing to do what I do.”

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SEC Co-Director Of Enforcement Peikin Reflects On The Past, Present, And Future Of The SEC’s Enforcement Of The FCPA

Peikin

Earlier today, Steven Peikin (Co-Director of the SEC’s Enforcement Division) delivered this speech at a Foreign Corrupt Practices Act / OECD Convention Anniversary Conference held at NYU School of Law. This post excerpts portions of Peikn’s remarks.

But first a few comments.

In talking about the past, I wonder if Peikin is even aware of the following historical fact. As highlighted in the article “The Story of the Foreign Corrupt Practices Act,” the SEC never wanted any role in enforcing the FCPA’s anti-bribery provisions. However, congressional leaders at the time of the FCPA’s enactment had a high level of distrust with the Justice Department and insisted, against the SEC’s objections both when the FCPA was enacted in 1977 and when it was first amended in 1988, that it play a role in enforcing the FCPA’s anti-bribery provisions.

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Friday Roundup

Roundup

Funny headline, just plain silly, new SEC FCPA Unit Chief, parallel, scrutiny alerts and updates, company continues to “boil the ocean,” and ISO 37001 related. It’s all here in the Friday Roundup.

Funny Headline

This Global Investigations Review post contains the headline “Former FCPA Unit Chiefs Defend the ‘Revolving Door’”.

That’s funny. I suppose if I moved from a government enforcement attorney position to a multimillion dollar position in FCPA Inc. defending companies against the enforcement climate I helped create, I might defend the practice as well.

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FCPA Flash – A Conversation With Claudius Sokenu

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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 Claudius Sokenu. Sokenu is among a small number of individuals who has experienced the FCPA from three different vantage points. First, Sokenu was Senior Counsel at the SEC’s Enforcement Division where he worked on FCPA matters. Second, Sokenu was a partner at various leading law firms where his practiced focused on the FCPA. Currently, Sokenu is Deputy General Counsel, Global Head of Litigation, Global Head of Compliance, and Global Head of Legal-Supply Chain at Andeavor (a Texas-based refining, marketing and logistics company).

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The “Control Person” Theory Of Liability “Trend” That Never Occurred

controlperson

This recent law review article titled “Laxity at the Gates: The SEC’s Neglect to Enforce Control Person Liability” does not mention the Foreign Corrupt Practices Act, but it did get me thinking about control person liability in connection with SEC FCPA enforcement actions.

As highlighted in this post, in the aftermath of a 2009 SEC individual FCPA enforcement action based on “control person” liability some predicted the start of a new trend. However, this “trend” never occurred.

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