FCPA at 40 Archives - FCPA Professor

Friday Roundup

By Mike Koehler on November 23, 2018 in Collateral Effects, FCPA at 40, General Electric, Goldman Sachs, Mining Industry, Mobile TeleSystems

Scrutiny alerts and updates, Goldman ripples, and for the reading stack. It’s all here in the Friday roundup.

Scrutiny Alerts and Updates

MTS

As highlighted in this 2015 post, the Uzbekistan telecom bribery scheme involved several companies. In 2016, VimpelCom resolved an FCPA enforcement action with a net settlement amount (after accounting for various credits and deductions for related foreign law enforcement action) of approximately $398 million. In 2017, Telia resolved an FCPA enforcement action with a net settlement amount of $483 million.

Next up will be Russia-based Mobile TeleSystems PJSC, a company with shares traded on the New York Stock Exchange, which recently disclosed:

With Survey Results Like These, Can We Truly Say That The FCPA Has Been Successful?

By Mike Koehler on August 13, 2018 in Compliance, Due Diligence, FCPA at 40, FCPA Statistics, Third Parties

In this the Foreign Corrupt Practices Act’s 40th year, it is appropriate to ask the salient question of whether the FCPA has been successful.

Granted, politicians are known for making aspirational statements, nevertheless during the FCPA’s enactment Congressional leaders stated – among other things – “the legislation before the committee … would end corporate bribery” and “the goal [of the FCPA] is the elimination of foreign bribery.”

Yet, recent survey results seriously call into question whether the FCPA has been successful in achieving its objectives.

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

By Mike Koehler on June 25, 2018 in Disgorgement, FCPA at 40, FCPA Flash, Non-Bribery Charged Disgorgement, SEC, Statute of Limitations

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.

The False Narrative That Prior To The FCPA Foreign Bribery By U.S. Companies Was Rampant

By Mike Koehler on June 7, 2018 in FCPA at 40, Legislative History

A common narrative about the Foreign Corrupt Practices Act is something along the following lines: before the FCPA was enacted in 1977 foreign bribery by U.S. companies was rampant. (See here for instance: “Congress enacted the FCPA in the 1970s to address the rampant bribery of foreign officials by U.S. companies.”)

Even though certain problematic corporate foreign payments were unearthed in the mid-1970s, the notion that foreign bribery by U.S. companies was rampant prior to the FCPA is a false narrative. Indeed, extensive efforts were made during the legislative process to place the conduct in the proper context.

Video – Has The FCPA Been Successful In Achieving Its Objectives?

By Mike Koehler on February 8, 2018 in FCPA at 40, Multimedia

As long as laws have been enacted, inquisitive minds have contemplated the salient question of whether the law has been successful in achieving its objectives. Upon the 40^th anniversary of the FCPA, it is appropriate to ask the salient question of whether the FCPA has been successful.

Of course to answer this question, success in the FCPA context must first be defined. Admittedly this is no easy task, as there are various plausible meanings of success in the FCPA context.

This approximate 25 minute video discuss these various meanings of success and encourages you to answer for yourself the question of whether the FCPA has been successful in achieving its objectives.

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Friday Roundup

With Survey Results Like These, Can We Truly Say That The FCPA Has Been Successful?

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

The False Narrative That Prior To The FCPA Foreign Bribery By U.S. Companies Was Rampant

Video – Has The FCPA Been Successful In Achieving Its Objectives?

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