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Friday Roundup

Roundup

Interesting, across the pond, non-profit scrutiny, and for the reading stack. It’s all here in the Friday roundup.

Interesting

The DOJ’s FCPA’s Corporate Enforcement Policy states:

“When a company has voluntarily self disclosed misconduct in an FCPA matter, fully cooperated, and timely and appropriately remediated … there will be a presumption that the company will receive a declination absent aggravating circumstances involving the seriousness of the offense or the nature of the offender. Aggravating circumstances that may warrant a criminal resolution include, but are not limited to, involvement by executive management of the company in the misconduct; a significant profit to the company from the misconduct; pervasiveness of the misconduct within the company; and criminal recidivism.”

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What Viable Criminal Charges Against Guralp Systems Did The DOJ Actually “Decline”?

guralp

This July 2017 post highlighted the criminal conviction of Heon-Cheol Chi (Chi) of South Korea -“the Director of South Korea’s Earthquake Research Center at the Korea Institute of Geoscience and Mineral Resources (KIGAM) for “laundering bribes that he received from two seismological companies based in California and England through the U.S. banking system.”

The prior post noted that attention now turns to Kinemetrics (the California company) and Guralp Systems Ltd. (the U.K. company).

Recently, the DOJ quitely released this substantively vague so-called declination letter concerning Guralp Systems. However, as highlighted below it is difficult to analyze just what viable criminal charges against Guralp Systems that the DOJ actually “declined” to prosecute.

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Friday Roundup

Roundup

Across the pond, sentenced, unremarkable, and nonsense. It’s all here in the Friday roundup.

Across the Pond

As highlighted in this prior post, in July 2016 the U.K. Serious Fraud Office announced:

“The SFO is conducting a criminal investigation into the activities of Unaoil, its officers, its employees and its agents in connection with suspected offences of bribery, corruption and money laundering.”

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Friday Roundup

Roundup

Scrutiny alert, novice FCPA commentary matters, additional charges, survey says, across the pond, and for the reading stack. It’s all here in the Friday roundup.

Scrutiny Alert

Some companies disclose Foreign Corrupt Practices Act very early and then update the disclosure for years. Other companies have different disclosure practices. Global asset management firm Legg Mason Inc. (a company that has not previously disclosed FCPA scrutiny) recently disclosed:

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U.K. – Don’t Get Your Knickers In A Twist Regarding The Bribery Act Review

UK2

As highlighted in this recent roundup, the U.K. House of Lords announced that it “appointed an ad hoc Select Committee to consider and report on the Bribery Act 2010.” The Chairman of the Committee stated: “now is the opportune time for post-legislative scrutiny.”

However, as noted in this article “non-governmental organisations reacted with dismay to the review by the Lords committee, saying that it should not lead to any rolling back of the legislation.” (See also here).

This post encourages those in the U.K. not to get their knickers in a twist. The post provides some historical context about the FCPA- namely that soon after the passage of the FCPA in 1977 the U.S. government undertook various reviews of the FCPA.

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