Top Menu

DOJ FCPA Enforcement – 2017 Year In Review

DOJ

This previous post highlighted various corporate enforcement statistics from 2017 and this post goes in-depth into various facts and figures relevant to DOJ FCPA enforcement in 2017. (See here for a similar post from 2016, here for a similar post from 2015, here for a similar post from 2014, here for a similar post from 2013, here for a similar post from 2012, here for a similar post from 2011, and here from 2010).

Settlement Amounts and Specifics

In 2017, the DOJ brought 9 corporate FCPA enforcement actions.

Continue Reading

FCPA Flash Podcast – A Conversation With Bruce Yannett Regarding The Top Issues From 2017

Podcast Logo

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 Bruce Yannett (Debevoise & Plimpton). Yannett has a wealth of experience in FCPA matters and among his many engagements was representing Siemens and Rolls Royce in connection with FCPA and related scrutiny.

During the podcast, Yannett identifies and elaborates on his list of the most notable issues from 2017: (i) the DOJ’s “FCPA Corporate Enforcement Policy” and implications for self-reporting;  (ii) international enforcement and the continuing rise of coordinated settlements; and (iii) the fallout from Kokesh v. SEC and how to balance SEC, DOJ and international enforcement and statutes of limitation.

 

The Origins Of 2017 Corporate FCPA Enforcement Actions

start

Yesterday’s post compared corporate FCPA enforcement actions in 2017 to prior years. However, before a Foreign Corrupt Practices Act enforcement action is announced, scrutiny must first arise.

Today’s post highlights the origins of 2017 corporate enforcement actions. (See here for a similar post highlighting the origins of 2016 corporate enforcement actions).

As highlighted in the post, like prior years, 2017 corporate enforcement actions originated in a variety of ways from voluntary disclosures, to foreign media reporting and foreign law enforcement investigations, to pro-active SEC investigations, to civil litigation.

Continue Reading

Once Again, The DOJ Shoots Itself In The Foot

shootingselffoot

The Department of Justice has long wanted companies to voluntarily disclose conduct that implicates the Foreign Corrupt Practices Act. The latest attempt to achieve this policy goal of course was the DOJ’s November 29th announcement of a new “FCPA Corporate Enforcement Policy.” (This post rounds up all previous posts on this topic).

Why then, literally a few hours after announcing its latest attempt to motivate companies to voluntarily disclose, did the DOJ in announcing the SBM Offshore enforcement action (see here and here for prior posts) once again (see here and here for prior similar posts) shot 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

Deputy AG Rosenstein Assumes Causation In Calling The FCPA Pilot Program “Successful”

Assume

As long as there have been government programs, government officials have been inclined to proclaim the program a success.

For instance, last week in announcing the DOJ’s new “FCPA Corporate Enforcement Policy, Deputy Attorney General Rod Rosenstein stated:  “The incentive system set forth in the Department’s FCPA Pilot Program motivates and rewards companies that want to do the right thing and voluntarily disclose misconduct. In the first year of the Pilot Program, the FCPA Unit received 22 voluntary disclosures, compared to 13 during the previous year.  In total, during the year and a half that the Pilot Program was in effect, the FCPA Unit received 30 voluntary disclosures, compared to 18 during the previous 18‑month period.”

As highlighted in this post, Rosenstein’s statement assumes causation – in other words that the supposed increase in voluntary disclosures was the result of the April 2016 Pilot Program.

Continue Reading

Powered by WordPress. Designed by WooThemes