FCPA Professor has been described as “the Wall Street Journal concerning all things FCPA-related,” and “the most authoritative source for those seeking to understand and apply the FCPA.”
Set forth below are the topics discussed this week on FCPA Professor.
This post highlights, once again, the SEC’s inconsistent approach to enforcing the FCPA’s books and records and internal controls provisions.
Following a DOJ enforcement action in June, as highlighted in this post the other shoe dropped on TechnipFMC as it resolved a $5 million SEC enforcement action based on the same core conduct.
This post highlights FCPA enforcement actions alleging that employees (such as physicians, nurses, mid-wives, lab personnel, etc.) of certain foreign health care systems are “foreign officials” under the FCPA and thus occupy a status akin to a President or Prime Minister. This post highlights FCPA enforcement actions alleging that providing an internship (even an unpaid internship) or other job opportunity to the family member of an alleged “foreign official” violates the FCPA. In total, there have been 35 corporate enforcement actions based on these theories, but yet these enforcement theories have never been subjected to any judicial scrutiny and no individuals have ever been charged based on these theories.
As highlighted here, printing company Quad/Graphics resolved a $10 million FCPA enforcement action.
As highlighted here, Barclays became the latest financial services company to resolve an enforcement action based on alleged improper internship and hiring practices by forking over $6.3 million to Uncle Sam.
As highlighted here, Westport Fuels Systems resolved a $4 million FCPA enforcement action based on a transfer of shares to a private equity fund in which a Chinese official held an interest. Based on the same core conduct, the former CEO of the company also agreed to pay a $120,000 civil penalty.
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