Top Menu

Friday Roundup

Roundup

Interesting, more charges, sentenced, Telia-related, scrutiny alert, ISO-37001 related, across the pond, so true, odd, it can work, and for the reading stack. It’s all here in the Friday roundup.

Interesting

According to this Global Investigations Review report based on documents received through the FOIA process, the DOJ approved $711,800 to spend on Hui Chen’s former compliance consultant position over two years. According to the report, Chen’s salary at the DOJ was greater than the DOJ criminal division chief, the deputy attorney general and the attorney general.

Continue Reading

Once Again, The DOJ Shoots Itself In The Foot

shootingselffoot

The Department of Justice want companies to voluntarily disclose conduct that implicates the Foreign Corrupt Practices Act. Notwithstanding the DOJ slapping a formal title on its policy goal in April 2016 (i.e. the FCPA Pilot Program), this has long been the articulated policy position of the DOJ for nearly a decade.

Why then is the DOJ shooting itself in the foot by making decisions that should result in any board member, audit committee member, or general counsel informed of current events not making the decision to voluntarily disclose?

Continue Reading

Issues To Consider From The Telia Enforcement Action

Issues

This previous post went in-depth into the Telia Foreign Corrupt Practices Act enforcement action which contemplates a net $483 million settlement (after accounting for various credits and deductions for contemplated Swedish and Dutch enforcement actions) – the 5th largest net FCPA settlement of all-time.

Set forth below are several additional issues to consider from the enforcement action.

No Books and Records Findings

Off the top of my head, I can recall only one prior instance (BNY Mellon) of an SEC FCPA enforcement action not involving books and records violations or findings. The Telia action is the second instance which is odd given that the SEC found that the “bribe payments were funneled through payments for sham lobbying and consulting services to a front company controlled by the official.”

Continue Reading

Next Up – Telia As DOJ And SEC Announce Contemplated $483 Million Net FCPA Enforcement Action

telia

This recent post asked: what will September bring and noted that with history as a guide likely notable FCPA enforcement actions.

This 2015 post highlighted the burgeoning Uzbekistan telecommunication investigations involving Dutch telecom company VimpleCom, Swedish telecom company TeliaSonera, and Russia-based Mobile TeleSystems.

As highlighted here, in February 2016 VimpelCom resolved a net $397.5 million FCPA enforcement action and as highlighted below yesterday the DOJ and SEC announced a contemplated $483 million net FCPA enforcement against against Telia (after accounting for various credits and deductions for contemplated Swedish and Dutch enforcement actions) – the 5th largest net FCPA settlement of all-time.

Continue Reading

Friday Roundup

Roundup

Predictable, scrutiny alert, in the words of Attorney General Lynch, bankrupt, DOJ guidance, and for the reading stack. It’s all here in the Friday roundup.

Predictable

It’s as predictable as the sun rising in the east.

A former FCPA enforcement official criticizes certain aspects of FCPA enforcement. As noted in this Law360 article, former DOJ Assistant Attorney General of the Criminal Division Lanny Breuer (who took a great interest in FCPA enforcement while in that position – see here for the article “Lanny Breuer and FCPA Enforcement”) recently observed as follows regarding the DOJ’s FCPA Pilot Program.

Continue Reading

Powered by WordPress. Designed by WooThemes