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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 Juniper Networks Enforcement Action

By on September 5, 2019 in Disgorgement, Gray Cloud, Internal Controls, Juniper Networks, Non-Bribery Charged Disgorgement, Statute of Limitations, Voluntary Disclosure
Issues

This prior post highlighted the SEC’s $11.7 million Foreign Corrupt Practices Act enforcement action against Juniper Networks. This post continues the analysis by highlighting additional issues to consider.

Timeline

As highlighted in this prior post, Juniper Networks disclosed its FCPA scrutiny in mid-2013. Thus, from start to finish the company’s FCPA scrutiny lasted an unconscionable six years.

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Issues To Consider From The Vantage Drilling Enforcement Action

By on November 27, 2018 in Disgorgement, Gray Cloud, Inability to Pay, Kokesh, Non-Bribery Charged Disgorgement, Vantage Drilling
Issues

This previous post went in-depth into the rather unusual Vantage Drilling Foreign Corrupt Practices Act enforcement action and this post continues the analysis by highlighting additional issues to consider.

Timeline

As highlighted here, in July 2015 (or shortly thereafter) Vantage Drilling voluntarily disclosed to the DOJ/SEC. Thus, from start to finish the company’s FCPA scrutiny lasted approximately 3.5 years. While this is below recent averages of approximately 4.5 years, it is still too long for FCPA scrutiny to last particularly since Vantage Drilling, in the words of the SEC:

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Issues To Consider From The Sanofi Enforcement Action

By on September 6, 2018 in Distributor Issues, Gray Cloud, Internal Controls, Kokesh, Non-Bribery Charged Disgorgement, Sanofi, Statute of Limitations, Uncategorized
Issues

This previous post highlighted the SEC’s $25.2 million FCPA enforcement action against Sanofi and this post continues the analysis by highlighting additional issues to consider.

Timeline

Sanofi’s FCPA scrutiny began in mid-2014 (see this prior post). Thus, from start to finish, its scrutiny lasted approximately 4 years.

At the risk of sounding like a broken record to regular readers … if the FCPA enforcement agencies want the public to have confidence in their FCPA enforcement programs, they must resolve instances of FCPA scrutiny much quicker. The validity and credibility of FCPA enforcement depends on this. Having FCPA scrutiny linger for over four years is inexcusable particularly since Sanofi, in the words of the SEC:

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