Archives: Foreign Corrupt Practices Act

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SEC Staying the Course on FCPA Enforcement

In remarks at NYU’s Program on Corporate Compliance and Enforcement, Steven Peikin, the new Co-Director of the SEC’s Enforcement Division, voiced a question that has been on the minds of many anticorruption practitioners and compliance professionals: Will the SEC continue to be committed to robust FCPA enforcement?”   “My answer to that question is simple,” Peikin … Continue Reading

Rosenstein Pledges Reduced Regulation, Encourages Self-Reporting

U.S. Deputy Attorney General Rod Rosenstein pledged an enforcement environment in which businesses can thrive. In keynote remarks at the U.S. Chamber Institute for Legal Reform, he emphasized the Department of Justice’s (DOJ) commitment to “avoiding unnecessary interference in law-abiding enterprises.” Rosenstein also promoted the benefits of corporate compliance and self-reporting. Although allegedly offering “no breaking news” about DOJ policies, … Continue Reading

Law 1778, Colombia’s Latest Attempt at Bringing its Anti-bribery Laws into Compliance with the OECD Anti-bribery Convention

Since being elected in 2010, Colombian President Juan Manuel Santos has been trying to have Colombia become a member of the Organization for Economic Co-operation and Development (OECD). As part of this endeavor, in January 2011, Colombia formally applied to become a participant of the Working Group on Bribery in International Business Transactions (the “Working … Continue Reading

DOJ’s Criminal Division Launches new FCPA Pilot Program

In an effort to enhance its ability to investigate and prosecute Foreign Corrupt Practices Act (FCPA) cases, the Department of Justice’s (DOJ) Criminal Division has launched a new one-year FCPA pilot program effective April 5, 2016. The program has three main goals: Motivate companies to voluntarily self-disclose FCPA-related misconduct Motivate companies to fully cooperate with … Continue Reading

Deferred Prosecution Agreements: The Sign of Things to Come?

In a landmark decision, the first Deferred Prosecution Agreement (“DPA”) was approved  on Monday at the Royal Courts of Justice, by Lord Justice Leveson.  The DPA was introduced as a means of alternative disposal following a criminal investigation into a corporate organisation back in February 2014, under the Crime and Courts Act 2013[1]. It is … Continue Reading

Five Minutes on… Anti-Bribery and Corruption Laws in Europe

Anti-bribery and corruption has been a hot topic in the US for almost 40 years. The topic has historically however received much less attention within Europe. That is now changing as Europe is beginning to catch up and many European countries have already implemented anti-bribery laws much stricter than those in the US. Recent events … Continue Reading

The UK Serious Fraud Office (SFO) gets serious

Reports suggest that the SFO is currently investigating and prosecuting serious allegations of complex fraud and corruption. The announcement this spring that the SFO had started an investigation into the Bank of England’s actions following the rigging rumours, (as reported by the BBC amongst others) demonstrates its intention to pursue high-profile offenders. David Green, who … Continue Reading

GSK BRIBERY CASE – END OF THE MATTER?

This article was originally published by LexisNexis and is reproduced with permission. GlaxoSmithKline (GSK) has been fined £300 million and five of its employees given suspended prison sentences in China for bribery – but is this the end of the matter? What impact will the verdicts have on other multinational companies conducting business in China? … Continue Reading

Monthly China Anti-Bribery Update Report — January 2014

1. New law or regulation State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: (1) On January 16, 2014, the Communist Party of China (“CPC”) Central Committee issued the Regulation on Selection and Appointment of the Party and Government Leaders (the “Regulation”), which took effect on the same day and … Continue Reading

Monthly China Anti-Bribery Update Report — December 2013

New law or regulation State level: (1) It was reported on 8 December 2013 that the General Office of the Central Committee of the Communist Party of China (“CPC”) and the General Office of the State Council jointly issued the Provisions on Administration of Domestic Official Reception by Party and Government Organs” (the “Provisions”) to … Continue Reading

Monthly China Anti-Bribery Update Report — November 2013

1. New law or regulation State level: On November 25, 2013, the Central Committee of the Communist Party of China and the State Council jointly issued the Regulation to Ban Official Extravagance (the “Regulation”), which regulate the management of funds, official travel, official receptions, official vehicles, and official conferences, etc. According to the Regulation, the … Continue Reading

China Anti-bribery Report September 2013

1. New law or regulation State level: No developments On September 23, 2013, the Ministry of Finance, the National Government Affairs Administration, and the Administration of Government Affairs, directly under the Central Committee of the Communist Party of China (“CPC”), jointly issued the Administrative Measures on Conferences of Central and State Departments (“Measures”), which target … Continue Reading

Monthly China Anti-Bribery Update Report—July 2013

The most recent FCPA and anticorruption enforcement developments involving the People’s Republic of China (PRC) are summarized below. Thanks, as always, to Squire Sanders’ Shanghai Office for monitoring these enforcement actions. 1.     New law or regulation State level: (1)     It was reported on July 6, 2013 that the Supreme People’s Procuratorate (“SPP”) of China issued … Continue Reading

Report shows that compliance with OECD Anti-Bribery Convention remains inadequate

Transparency International has recently published its 8th annual progress report on compliance with the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, adopted in 1997, which requires each signatory country to make foreign bribery a crime. In relation to enforcement, of the 37 signatory countries included in the report, (which … Continue Reading

Outline of Resource Guide to the U.S. Foreign Corrupt Practices Act (November 14, 2012)

On November 14, 2012, the Department of Justice (“DOJ”) and Securities and Exchange Commission (“SEC”) released A Resource Guide to the Foreign Corrupt Practices Act. In its 10 chapters, the Guide provides an overview of the current state of the FCPA as interpreted by the courts, the DOJ and the SEC.  In addition to setting … Continue Reading

Judge Hands Down Sentences on Former CCI CEO, Sales Director

On November 8, 2012, Judge James Selna (C.D. Cal.) sentenced Stuart Carson, former CEO of Control Components Inc. (“CCI”), and his wife, Hong Rose Carson, the company’s former sales director, for their roles in the company’s violation of the FCPA and Travel Act. In 2009, CCI pleaded guilty to a three-count criminal information that charged … Continue Reading

Oracle Corporation Agrees to Pay $2 Million to Settle Books and Records and Internal Controls Violations of the FCPA

On August 16, 2012, the Securities and Exchange Commission filed a Complaint against Oracle Corporation for alleged FCPA violations stemming from actions by the software giant’s Indian subsidiary, and Oracle has agreed to pay $2 million to settle the matter. According to the SEC’s Complaint (which can be found here), from 2005 to 2007, certain … Continue Reading

Monthly China Anticorruption Update Report– July 2012

The most recent FCPA and anticorruption enforcement developments involving the People’s Republic of China (PRC) are summarized below. Thanks as always to Squire Sanders Shanghai Office for monitoring these enforcement actions. New Law or Regulations State level: (1) Regulations on the Management of Governmental Affairs On July 9, the Chinese Sate Council promulgated the new … Continue Reading

Nordam Group Settles China FCPA Violations

On July 17, 2012, Nordam Group, Inc. (“Nordam”) an aircraft maintenance, repair and overhaul (“MRO”) service provider based in Tulsa, Oklahoma, entered into a three-year non-prosecution agreement (NPA) with the DOJ to resolve violations of the FCPA’s anti-bribery provisions. Conduct According to the NPA, from 1999 until 2008, Nordam, its subsidiaries and affiliates paid bribes … Continue Reading

Orthofix International Resolves FCPA Investigation

Orthofix International N.V. (“Orthofix”) entered into a consent to final judgment with the SEC and a deferred prosecution agreement with the DOJ to resolve FCPA violations by its Mexican subsidiary. Although the DOJ enforcement action involved a criminal information which remains sealed until a plea is entered in open court, the deferred prosecution agreement indicates … Continue Reading

Patrick Joseph, Haiti Teleco Defendant, Sentenced to Prison

On July 6, 2012, Patrick Joseph was sentenced to one year and one day in prison, and ordered to forfeit $955,596.69, for his role in the Haiti Teleco bribery scheme.  Joseph, a former Director General for telecommunications at the Republic of Haiti’s state-owned national telecommunications company, Telecommunications D’Haiti (Haiti Teleco), had been charged with one … Continue Reading

Practical Guidance on How to Conduct FCPA Due Diligence

The Department of Justice and Securities and Exchange Commission have stressed the need for companies to conduct FCPA due diligence before entering into transactions with third parties or buying another company.  The DOJ and SEC have levied stiff fines on companies that have not heeded their advice once violations of the FCPA have been discovered.  … Continue Reading

Former CCI Executive Cops Plea

Paul Cosgrove, the former head of worldwide sales at California-based valve manufacturer Control Components Inc. (CCI) pleaded guilty yesterday to violating the Foreign Corrupt Practices Act (FCPA).  Cosgrove is the fourth of six company executives to plead guilty to violating or conspiring to violate the FCPA. Cosgrove was previously scheduled to stand trial on June … Continue Reading
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