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Issues To Consider From The Alexion Enforcement Action

By on July 6, 2020 in Alexion Pharmaceuticals, Gray Cloud, Internal Controls, Non-Bribery Charged Disgorgement, Strict Liability, Uncategorized
Issues

This recent post went in-depth into the SEC’s recent $21.5 million Foreign Corrupt Practices Act enforcement action against Alexion Pharmaceuticals and this post highlights additional issues to consider.

Timeline

Alexion became the subject of FCPA scrutiny in May 2015. Thus, from start to finish, its scrutiny lasted more than 4 years. I’ve said it many times, and will continue saying it until the cows come home, if the SEC wants its FCPA enforcement program to be viewed as credible and effective it must resolve instances of FCPA scrutiny much quicker.

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Issues To Consider From The Eni Enforcement Action

By on April 22, 2020 in ENI, Gray Cloud, Non-Bribery Charged Disgorgement, Statute of Limitations
Issues

This prior post went in-depth into the recent Eni enforcement action and this post continues the analysis by highlighting additional issues to consider.

Timeline

As stated in Eni’s recent disclosure: “In 2012, Eni contacted the U.S. Department of Justice (DoJ) and the U.S. SEC in order to voluntarily inform them about this matter, and has kept them informed about the developments in the Italian Prosecutors’ investigations and proceedings. Following Eni’s notification, both the U.S. SEC and the DoJ started their own investigations regarding this matter.”

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Issues To Consider From The Cardinal Health Enforcement Action

By on March 3, 2020 in Cardinal Health, Gray Cloud, Merger Issues, Syncor
Issues

This recent post highlighted the SEC’s $8.8 million Foreign Corrupt Practices Act enforcement action against Cardinal Health.

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

Timeline

According to the SEC order, “In December 2016, Cardinal voluntarily disclosed the results of its investigation to the Commission staff and subsequently cooperated with its investigation.”

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Like Prior Years, The Gray Cloud Of FCPA Scrutiny Lasted Too Long In 2019

By on January 7, 2020 in Gray Cloud, Year in Review 2019
Gray Cloud

This recent post highlighted the origins of corporate Foreign Corrupt Practices Act enforcement actions in 2019.

Continuing with the 2019 FCPA statistical feast, this post follows the chronology of scrutiny to enforcement and highlights one of the most troubling policy issues when it comes to FCPA enforcement.

That is – FCPA scrutiny simply lasts too long. Specifically, as highlighted below, 4.5 years was the approximate median length of time companies that resolved FCPA enforcement actions in 2019 were under scrutiny.

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