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Year In Reviews

If your idea of a fantastic Friday is reading additional FCPA Year in Review pieces, you are in luck!

My recent piece published in the White Collar Crime Report (see here to download) starts as follows.  “For most of the Foreign Corrupt Practices Act’s history, key decisions concerning its enforcement and direction were made behind closed doors around conference room tables in Washington, D.C.  While many enforcement decisions and procedures remain opaque, 2011 witnessed the most intense year of public scrutiny in the FCPA’s history.”  The article, in addition to providing a brief overview of the 2011 enforcement year, details the scrutiny the FCPA was subjected to in the past year.  This scrutiny reveals that as the FCPA nears its 35th year, basic legal and policy questions remain as to the purpose, scope, and effectiveness of the law.”

WilmerHale’s recent Year in Review (here) states as follows.  “The most notable development of 2011 is the record level of trials and related litigation, with guilty verdicts returned in the Haiti Teleco cases, a mistrial declared in the trial of the first group of SHOT Show Sting defendants, and the convictions returned in the Lindsey Manufacturing case being vacated and the indictments dismissed as a result of the court’s conclusion that the government had engaged in prosecutorial misconduct.”

Debevoise & Plimpton’s recent Year in Review (here) states as follows.  “The adage that ‘things that cannot go on forever will not’ frames an essential theme for analysis of FCPA enforcement in 2011. As the DOJ and SEC turned their sights on a raft of cases against individuals, the monetary recoveries by the U.S. enforcement agencies in 2011 declined significantly from the nearly $1.8 billion recovered in 2010. But in-house counsel and corporate compliance departments would be wise not to take from this singular statistic the message that FCPA enforcement is on the wane. Aside from the fallacy of drawing from one year’s decline in recoveries the conclusion that the government has lost some, or even any, of its ability to extract concessions from errant companies, it is necessary to gauge the effectiveness of the U.S. government’s programs by focusing on the specifics of individual and corporate prosecutions, the less visible ways the enforcement program exerts pressure on companies to upgrade compliance, the effects of new anti-corruption programs overseas and the U.S. effort to foster enforcement by and cooperate with other nations, and, perhaps most important, the pipeline of cases yet to be filed by regulators in the United States.”

Squire Sander’s in-depth Year in Review digest is here.


A good weekend to all.


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