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It’s Been Over A Year Since The SEC Has Brought An Individual FCPA Enforcement Action

SEC

The SEC (like the DOJ) often talks about the importance of individual FCPA enforcement actions. For instance, SEC enforcement officials have stated:

“Companies cannot engage in bribery without the actions of culpable individuals. The Enforcement Division is broadly committed to holding individuals accountable when the facts and the law support doing so.”

“Pursuing individual accountability [in FCPA enforcement actions] is a critical part of deterrence.”

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FCPA Flash Podcast – A Conversation With Harold Kim (U.S. Chamber Institute For Legal Reform) On FCPA Enforcement Policy And Reform

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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 Harold Kim (Executive Vice President, U.S. Chamber Institute for Legal Reform). During the podcast, Kim discusses recent DOJ FCPA enforcement policy developments, the continued viability of an FCPA compliance defenses, as well as the general lack of FCPA policy developments from the SEC.

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A Summary Of The SEC’s Trial Court Woes In FCPA Enforcement Actions

You be the Judge

This recent post summarized the dismissal of the SEC’s Foreign Corrupt Practices Act (and related) charges against against Michael Cohen and Vanja Baros (former Och-Ziff executives) based on the same core conduct as the DOJ and SEC’s September 2016 enforcement action against Och-Ziff.  The enforcement action is believed to be only the fourth time in FCPA history in which the SEC was put to its ultimate burden of proof in an FCPA enforcement action.

As highlighted in this post, the SEC also lost in the other three instances and in the FCPA’s 40 year history the SEC has never prevailed when put to its ultimate burden of proof.

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Shallow FCPA Commentary

shallow

Certain of what passes for Foreign Corrupt Practices Act commentary is shallow and lacks an appreciation of context and perspective. Another hallmark of shallow FCPA commentary is the logical fallacy post hoc ergo propter hoc (in other words, since event Y followed event X, event Y must have been caused by event X).

Shallow FCPA commentary matters because it spreads misleading information about FCPA enforcement and policy.

The latest shallow commentary was articulated in connection with the recent Credit Suisse enforcement action (see here and here for prior posts).

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FCPA Flash Podcast – A Conversation With Bradley Bondi Regarding His Recent FCPA Relevant House Testimony

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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 Bradley Bondi (Cahill Gordon & Reindel LLP). As highlighted in this recent post, Bondi testified at a House hearing titled “Ensuring Effectiveness, Fairness, and Transparency in Securities Law Enforcement” that touched upon several FCPA relevant issues. In the podcast, Bondi elaborates on certain of these issues including: disgorgement and statute of limitation issues. In addition, based on his comment during the hearing that “few would consider a local police force successful in deterring crime if it announced record numbers of arrests year after year,” Bondi opines whether the FCPA is being successful in accomplishing its objectives.

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