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Scrutiny Alerts And Updates

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Scrutiny alerts and updates regarding Elek Straub, Platform Speciality Products, Cobalt International, Bombardier, and the Mormon Church.

Elek Straub

In December 2011, in connection with the Foreign Corrupt Practices Act enforcement action against Magyar Telekom, the SEC also charged former Magyar Telekom executives Elek Straub (former Chairman and CEO); Andras Balogh (former Director of Central Strategic Organization); and Tamas Morvai (former Director of Business Development and Acquisitions) with various FCPA and related offenses. (See here for the prior post).

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Friday Roundup

Roundup

Checking in on the Hoskins appeal, checking in up north, checking in across the pond, for the younger generation, if that would happen in a company, and another one dismissed. It’s all here in the Friday roundup.

But first, if you got your FCPA from FCPA Professor in 2016, please consider a donation to help defray the yearly costs of running this free public website.

Checking In on the Hoskins Appeal

This previous post highlighted how U.S. District Court Judge Janet Bond Arterton (D.Conn) significantly trimmed the DOJ’s criminal FCPA enforcement action against Lawrence Hoskins. Unhappy with the decision, the DOJ filed a motion for reconsideration which Judge Arterton denied (see here).

The DOJ appealed to the Second Circuit and this previous post highlighted the DOJ’s opening brief. Recently Hoskins filed this response which states in pertinent part.

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The Sun Rose, A Dog Barked, And A Company Disclosed FCPA Scrutiny

dog bark

This is not the first post regarding this general topic (see here and here for prior posts), merely the most recent.

Has the general increase in Foreign Corrupt Practices Act enforcement over the past decade done anything to deter future FCPA violations? Why in this current era of purported increased FCPA compliance does there seem to be more, not less, FCPA inquiries?  Does effective compliance reduce FCPA scrutiny or does effective compliance uncover more FCPA issues?  If the latter, does that argue in favor of a compliance defense?

If every company hired FCPA counsel to do a thorough review of its world-wide operations – given the current enforcement theories – would 50% of companies find technical FCPA violations?  75%?  95%?  If the answer is any one of those numbers is that evidence of how corrupt business has become or is that evidence of how unhinged FCPA enforcement theories have become?

While pondering the above questions, do recognize that a company disclosing or otherwise being the subject of FCPA scrutiny has become as common as the sun rising and a dog barking (hence the picture).

This post highlights recent disclosures and scrutiny from just the past week involving the following companies: Fairmont Santrol, Platform Speciality Products, Alere, Aegerion Pharmaceuticals and Tabcorp.

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