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SNC-Lavalin Pleads Guilty In Canada’s Most Significant Foreign Corruption Case To Date

By Mike Koehler on December 30, 2019 in Canada, Libya, SNC Lavalin, Uncategorized

Numerous prior posts dating back to 2012 (see here for the subject matter tag) have discussed SNC-Lavalin Group’s (a Montreal-based engineering, procurement and construction services company) scrutiny under Canada’s FCPA-like law, the Corruption of Foreign Public Officials Act (CFPOA).

After years of pouting that it was not being treated fairly (see here among other posts), SNC-Lavalin recently resolved a $280 million CFPOA enforcement action.

The below guest post from McCarthy Tetrault attorneys John Boscariol, Andrew Matheson and Robert Glasgow summarizes the enforcement action and its broader implications.

Friday Roundup

By Mike Koehler on March 15, 2019 in Collateral Effects, Disgorgement, Federal Reserve, Goldman Sachs, Kokesh, Multimedia, Niko Resources, OECD, Roger Ng, SNC Lavalin, Statute of Limitations, Tim Leissner

Banking bar, Kokesh related, OECD shaming, quotable, downfall, and listening in. It’s all here in the FCPA roundup.

Banking Bar

The Federal Reserve recently announced “that it is prohibiting Tim Leissner and Ng Chong Hwa, also known as Roger Ng, from the banking industry for their participation in a scheme to illegally divert billions of dollars from a Malaysian sovereign wealth fund. Leissner was also fined $1.42 million and consented to the permanent ban.”

Friday Roundup

By Mike Koehler on March 1, 2019 in China, Compliance, Glencore, Goldman Sachs, Jurisdiction, OECD, Related Civil Litigation, SAP, SEC, SNC Lavalin, Transparency International

About time, scrutiny updates, ripple, for the record, just saying, and for the reading and listening stack. It’s all here in the Friday roundup.

About Time

After dinging companies for nearly 40 years for internal controls and risk management failures, the SEC names its first chief risk officer.

As highlighted in this prior post, if the SEC were an issuer there would be many books and records and internal controls issues within the organization.

Canada’s OECD Article 5 Moment

By Mike Koehler on February 12, 2019 in Canada, OECD, SNC Lavalin

Article 5 of the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions states: “Investigation and prosecution of the bribery of a foreign public official shall be subject to the applicable rules and principles of each Party. They shall not be influenced by considerations of national economic interest, the potential effect upon relations with another State or the identity of the natural or legal persons involved.”

As highlighted here and prior posts here and here, OECD Convention signatory countries such as the United States and the United Kingdom have seemingly violated Article 5 in connection with certain enforcement actions, so it is not surprising that Canada (also a signatory country) is also having an Article 5 moment.

Friday Roundup

By Mike Koehler on December 21, 2018 in Acacia Mining, Airbus, ALSTOM, Barrick Gold Corp., Canada, Collateral Effects, Compliance, Glencore, Goldman Sachs, Gray Cloud, Nicholas Reynolds, Related Foreign Investigations, Serious Fraud Office, SNC Lavalin, United Kingdom

Consistently damaged, across the pond, scrutiny alerts and updates, and for the reading stack. It’s all here in the Friday roundup.

“Consistently Damaged”

In this 12 minute video, Neil Bruce (CEO and President of SNC-Lavalin) describes his frustration for how the company is not being offered a remediation agreement (Canada’s term for a deferred prosecution agreement) in connection with its long-standing scrutiny. (See here and here for prior posts).

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SNC-Lavalin Pleads Guilty In Canada’s Most Significant Foreign Corruption Case To Date

Friday Roundup

Canada’s OECD Article 5 Moment

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