Top Menu

Issues To Consider From The Tenaris Enforcement Action

Issues

This post highlighted the recent $78.1 million Foreign Corrupt Practices Act enforcement action against Tenaris (the second time the company has resolved an FCPA enforcement action in the last approximate decade).

This post highlights additional issues to consider from the enforcement action.

Timeline

Tenaris “voluntarily notified” the SEC and DOJ of the matters involved in the enforcement action in October 2016.

Continue Reading

Friday Roundup

Roundup

Checking in with Firtash, what the …?, if only it were that simple, and for the reading stack.

It’s all here in the Friday roundup.

Checking In With Firtash

As highlighted in this prior post, in April 2014 the DOJ announced the unsealing of a criminal indictment charging six individuals “with participating in an alleged international racketeering conspiracy involving bribes of state and central government officials in India to allow the mining of titanium minerals.” Among the defendants was high-profile Ukrainian businessman Dmitry Firtash.

Continue Reading

Issues To Consider From The Stericycle Enforcement Action

Issues

This previous post highlighted the recent net $59 million Foreign Corrupt Practices Act enforcement action against Stericycle (an Illinois based medical waste disposal company) for conduct in Brazil, Mexico, and Argentina.

Portions of the alleged conduct were egregious in that an executive of the company’s Latin America division orchestrated the bribery schemes and others associated with the company used “spreadsheets to track the bribe payments.”

Nevertheless, there are several legal and policy issues to consider from the enforcement action.

Timeline

As highlighted in this post, Stericycle disclosed its FCPA scrutiny in mid-2017.

Continue Reading

A Further Reminder That The FCPA Has Always Been A Law Much Broader Than Its Name Suggests

Orkin

This type of post has been published several times before (see here and here among other posts), and once again today, to highlight an important (yet often overlooked) aspect of the Foreign Corrupt Practices Act: the FCPA has always been a law much broader than its name suggests.

Sure, the FCPA contains anti-bribery provisions which concern foreign bribery. Sure, the FCPA’s books and records and internal controls provisions can be implicated in foreign bribery schemes.

However, the fact remains that most FCPA enforcement actions (that is enforcement actions that charge or find violations of the FCPA’s books and records and internal controls provisions) have nothing to do with foreign bribery. For lack of a better term, let’s call these numerous enforcement actions non-FCPA, FCPA enforcement actions.

The latest example is this recent SEC enforcement action against Rollins Inc. (an Atlanta based company that provides termite and other pest control services to residential and commercial customers including through such brands as Orkin) and Paul Northern (the company’s for CFO) for engaging “in improper accounting practices in order to boost its publicly-reported quarterly earnings per share (EPS) to meet research analysts’ consensus estimates.”

Continue Reading

A Closer Look At The Ng Jury Instructions

Closer Look

Foreign Corrupt Practices Act jury trials are rare.

Therefore, FCPA jury instructions are also rare.

Highlighted below are certain portions of the jury instructions from the recent trial of Roger Ng (a former managing director at Goldman Sachs) was who convicted by a jury of FCPA and related offenses for paying bribes to various Malaysian and Abu Dhabi officials in connection with 1Malaysia Development Berhad (1MDB), Malaysia’s state-owned and state-controlled investment development company.

Continue Reading

Powered by WordPress. Designed by WooThemes