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Another Diluted Oracle Enforcement Action

By on September 29, 2022 in Internal Controls, Oracle, Parent – Subsidiary Issues
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This post highlighted the SEC’s recent $22.9 million Foreign Corrupt Practices Act enforcement action against Oracle based on subsidiary conduct in Turkey, the United Arab Emirates, and India.

It was the second time in the past approximate decade that Oracle has resolved an FCPA enforcement action (see here). The first time Oracle resolved an FCPA enforcement action, this post was titled “The Dilution Of FCPA Enforcement Has Reached A New Level With The SEC’s Enforcement Action Against Oracle.”

The second FCPA enforcement action against Oracle this week was just as diluted – an issue apparent when actually reading the SEC’s findings.

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Hats Off To Urofsky

By on January 18, 2022 in Daisy Rafoi-Bleuler, FCPA Reform, Jurisdiction, Obtain or Retain Business, Parent – Subsidiary Issues, Roger Ng
hatsoff

Shearman & Sterling recently released its annual “Recent Trends and Patterns in the Enforcement of the Foreign Corrupt Practices Act.”

Year in and year out, it is one of the best law firm generated FCPA year in review publications.

For years, Philip Urofsky (a former Assistant Chief of the DOJ Fraud Section where he handled FCPA matters) has been a primary author of the publication and in connection with this year’s release Urofsky announced that it would be his last “FCPA Trends and Patterns” publication as he is retiring.

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Issues To Consider From The World Acceptance Corp. Enforcement Action

By on August 10, 2020 in Collateral Effects, Country Exits, Disgorgement, Gray Cloud, Parent – Subsidiary Issues, Strict Liability, Uncategorized, World Acceptance Corp
Issues

This prior post went in-depth into the SEC’s recent $21.7 million Foreign Corrupt Practices Act enforcement action against World Acceptance Corp. (WAC) and this post highlights additional issues to consider.

Timeline

As highlighted in this post, WAC disclosed its FCPA scrutiny in mid-2017.  Thus, from start to finish, its scrutiny lasted more than three 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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FCPA Flash Podcast – A Conversation With Philip Urofsky Regarding 2018 FCPA Trends And Developments

By on January 9, 2019 in China, Enforcement Agency Policy, FCPA Flash, Foreign Issuers, Foreign Nationals, Foreign Non-Issuer Company, Jurisdiction, Lawrence Hoskins, OECD, Parent – Subsidiary Issues
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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 Philip Urofsky (Shearman & Sterling and a former FCPA enforcement official at the DOJ). During the podcast, Urofsky elaborates on various issues such as jurisdiction over foreign actors and parent-subsidiary issues found in the firm’s always informative FCPA Digest. Urofsky also opines on what the FCPA enforcement landscape might look like if business organizations would put the government to its burden of proof in enforcement actions.

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Issues To Consider From The United Technologies Enforcement Action

By on September 14, 2018 in Gray Cloud, Internal Controls, Parent – Subsidiary Issues, United Technologies
Issues

This prior post went in-depth into the SEC’s $13.9 million Foreign Corrupt Practices Act enforcement action against United Technologies Corp. and this post continues the analysis by highlighting additional issues to consider.

Timeline

As highlighted in this prior post, UTC’s FCPA scrutiny began in late 2013/early 2014. Thus, from start to finish its scrutiny lasted approximately 4.5 years.

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