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Issues To Consider From The Halliburton Enforcement Action

By Mike Koehler on August 2, 2017 in Gray Cloud, Halliburton, Kokesh, Non-Bribery Charged Disgorgement, Trade Barriers and Distortions, Uncategorized

This prior post went in-depth into last week’s $29.2 million Foreign Corrupt Practices Act enforcement action against Halliburton and this post continues the analysis by highlighting additional issues to consider.

Timeline

Halliburton disclosed to the DOJ / SEC in December 2010 or perhaps early 2011. Regardless of the precise date, Halliburton’s FCPA scrutiny lasted approximately 6.5 years.

If the SEC wants the public to have confidence in its FCPA enforcement program, it must resolve instances of FCPA scrutiny much quicker. Having FCPA scrutiny linger for 6.5 years is inexcusable particularly since Halliburton, in the words of the SEC, “[cooperated] including making foreign witnesses available, compiling financial data and analysis relating to the transactions at issue, and making substantive presentations on key topics at the staff’s request.”

Much Ado About…Little?

By Mike Koehler on July 18, 2017 in Collateral Effects, Disgorgement, Kokesh, Wal-Mart

I didn’t come up with the headline, but I did participate in an extensive Q&A about Walmart’s FCPA scrutiny with Metropolitan Corporate Counsel. The Q&A was published in its most recent issue with the headline: “Much Ado About…Little? How a ‘garden variety’ FCPA investigation of Walmart grabbed the spotlight.”

The Q&A is republished below with permission.

Friday Roundup

By Mike Koehler on July 7, 2017 in CDM Smith, Collateral Effects, DOJ FCPA “Pilot Program”, Kokesh, Linde, Siemens, Voluntary Disclosure

Quotable, FCPA issues at City Hall, and for the reading stack. It’s all here in the Friday roundup.

Quotable

In this recent post titled “Judicial Scrutiny of Corporate Monitors: Additional Uncertainty for FCPA Settlements?” Debevoise attorneys Andrew Levine, Philip Rohlik and Michael Gramer note:

“Like many other complex corporate criminal matters, FCPA matters largely get resolved without meaningful judicial oversight. […] In complex cases, corporate criminal enforcement can follow the largely consensual process that has evolved in the FCPA arena. After a long period of investigation, in which a company often cooperates, the company and DOJ negotiate a resolution, based on legal theories and facts largely determined by the DOJ.

What Others Are Saying About Kokesh

By Mike Koehler on June 15, 2017 in Disgorgement, Kokesh, SEC, Statute of Limitations

Previous posts here, here and here concerned the Supreme Court’s recent benchslap of the SEC in Kokesh v. SEC. As previously noted, the Court unanimously held that disgorgement “in the securities-enforcement context is a ‘penalty’ within the meaning of [28 U.S.C.] 2462 and so disgorgement actions must be commenced within five years of the date the claim accrues.”

The case should impact SEC FCPA enforcement against issuers, but that first requires issuers not to roll over and play dead when faced with SEC scrutiny by agreeing to waive or toll statute of limitations.

This post highlights what others are saying about Kokesh.

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Issues To Consider From The Halliburton Enforcement Action

Much Ado About…Little?

Friday Roundup

What Others Are Saying About Kokesh

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