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Issues To Consider From The Rolls-Royce Enforcement Action

By on February 8, 2017 in Fine / Penalty Issues, Gray Cloud, Jurisdiction, Rolls-Royce, Statute of Limitations
Issues

This previous post went in-depth into the $170 million Foreign Corrupt Practices Act enforcement action against U.K. based Rolls-Royce announced on January 17th. This post continues the analysis by highlighting additional issues to consider.

Unusual Aspect of the DPA

The Rolls-Royce DPA contains an unusual feature. Of the approximate $170 criminal penalty “$30 million will be paid to the Consumer Financial Fraud Fund.”

This has never happened before in an FCPA enforcement and set forth below is my e-mail exchange with the DOJ press office on this issue.

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Issues To Consider From The Teva Enforcement Action

By on December 29, 2016 in Disgorgement, Fine / Penalty Issues, Gray Cloud, Healthcare Providers As Foreign Officials, Internal Controls, Jurisdiction, Teva Pharmaceuticals, Voluntary Disclosure
Issues

This previous post went in-depth into the $519 million Foreign Corrupt Practices Act enforcement action against Teva Pharmaecutical (the first-ever FCPA enforcement action against an Israeli company, by far the largest-ever FCPA enforcement action against a pharmaceutical company, and 4th largest FCPA settlement of all-time).

Set forth below are additional issues to consider.

Timeline

As highlighted in this prior post, Teva’s FCPA scrutiny began in July 2012. Thus from start to finish the company’s FCPA scrutiny lasted approximately 4.5 years. If the DOJ and SEC want the public to view its FCPA enforcement program as legitimate, credible, and effective, it must resolve instances of FCPA scrutiny much faster.

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Issues To Consider From The JP Morgan Enforcement Action

By on November 28, 2016 in Disgorgement, FCPA Inc., Fine / Penalty Issues, Gray Cloud, Hiring Family Members of Foreign Officials, JPMorgan, Voluntary Disclosure
Issues

This previous post went in-depth into the recent Foreign Corrupt Practices Act enforcement action against JP Morgan based on its alleged improper hiring and internship practices that the U.S. government labeled bribery and corruption

This post continues the analysis by highlighting several additional issues to consider.

Other Internship / Hiring Enforcement Actions

While the JPMorgan hiring and internship enforcement action was the most high-profile based on the settlement amount, it certainly was not the first FCPA enforcement action based on alleged improper internship and hiring practices.

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The FCPA Pipeline Is Bulging

By on November 17, 2016 in Fine / Penalty Issues
bulging pipe

Let’s take a trip way, way back in time. So far back you may hardly remember where you were or what you were doing.

The year was 2007, April to be precise, and the DOJ and SEC announced (here and here) the “largest combined sanction ever imposed in an FCPA case.”

The aggregate settlement amount? $44 million.

Obviously April 2007 was not that long ago, but FCPA settlement amounts have sure come a long way in a short amount of time and the FCPA pipeline is bulging as highlighted below.

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Friday Roundup

By on September 16, 2016 in Collateral Effects, Congressional Activity, Disclosure Issues, FCPA Appeals, Fine / Penalty Issues, Foreign Nationals, Jurisdiction, Lawrence Hoskins, TeliaSonera, Vantage Drilling, Whistleblowers
Roundup

Scrutiny alert, a potential increase FCPA statutory penalty amounts, Second Circuit appeal begins, SEC enforcement chief on whistleblowers, marketing the black hole, of note, and a ripple. It’s all here in the Friday roundup.

Scrutiny Update

VimpelCom was not the only company involved in the Uzbek telecommunications bribery scheme. As highlighted in this prior post, Swedish telecom company (a company with ADRs registered with the SEC) and Russia-based Mobile TeleSystems PJSC (a company with shares traded on the New York Stock Exchange) have also been scrutiny.

Recently, Telia issued this release:

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