Issues To Consider From The Deutsche Bank Enforcement Action
This prior post highlighted the SEC’s $16.2 million Foreign Corrupt Practices Act enforcement action against Deutsche Bank – the latest FCPA enforcement action focused on alleged improper internship and hiring practices primarily involving the financial services industry.
This post continues the analysis by highlighting additional issues to consider.
Timeline
The company’s FCPA scrutiny reportedly began in mid-2013. Thus, from start to finish, Deutsche Bank’s FCPA scrutiny lasted an unconscionable six years.
FCPA Flash Podcast – A Conversation With Lucinda Low
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 Lucinda Low (Steptoe & Johnson). During the podcast, the experienced FCPA practitioner: (i) provides an assessment of 2019 FCPA enforcement; (ii) discusses the long time periods associated with FCPA scrutiny; (iii) explores the broadness of FCPA enforcement specifically the FCPA’s accounting provisions; and (iv) highlights why she believes the FCPA should be amended to include a compliance defense.
Issues To Consider From The Microsoft Enforcement Action
This prior post went in-depth into the recent Microsoft Foreign Corrupt Practices Act enforcement action and this post continues the analysis by highlighting additional issues to consider.
Timeline
As highlighted in this prior post, Microsoft was reportedly under FCPA scrutiny in various countries since early 2013. Thus, from start to finish the various facets of the company’s FCPA scrutiny lasted an unconscionable 6.5 years. If the DOJ and SEC want their FCPA enforcement programs to be viewed as credible and effective, they must resolve instances of FCPA scrutiny much quicker.
Issues To Consider From The TechnipFMC Enforcement Action
This previous post went in-depth into the net $81.9 million DOJ FCPA enforcement action against TechnipFMC and how the company joined the FCPA repeat offender list. This post continues the analysis by highlighting additional issues to consider.
Statute of Limitations
Pardon me for being “that guy” but the bulk of the conduct at issue in the enforcement action (both the Technip USA information and plea involving alleged conduct in Brazil and the TechnipFMC information and DPA involving alleged conduct in Iraq) took place between 2003 and 2010 (in other words approximately 10 – 15 years prior to the enforcement action).
FCPA Flash Podcast Must Listen: A Conversation With Recently Departed DOJ FCPA Unit Assistant Chief Ephraim Wernick Regarding The Walmart Monitor, The Long Time Periods Associated With FCPA Scrutiny, And Other Issues
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 Ephraim (Fry) Wernick who recently joined Vinson & Elkins after departing from the DOJ as Assistant Chief of the FCPA Unit. While Wernick was not involved in the Walmart matter during his tenure at the DOJ, he has plenty to say about the enforcement action including the imposition of a monitor during the podcast. Wernick also discusses the long time periods associated with FCPA scruitny and highlights two things about the DOJ’s FCPA unit and its enforcement program that he believes are not well understood or appreciated by the business community or FCPA bar. In short, the podcast is a must listen.