David Smyth

David Smyth

Brooks Pierce

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DOJ’s Marshall Miller: You’re All FCPA Lawyers Now

Marshall Miller, the Justice Department’s principal Deputy Assistant Attorney General for the Criminal Division, has been heating up the compliance conference circuit in recent weeks. On September 17th, it was the Global...more

10/22/2014 - BNP Paribas Chief Compliance Officers Compliance Corporate Culture DOJ Ethics FCPA FCPA Resource Guide Professional Conferences Risk Management SEC

Wrapping up Securities Enforcement Forum 2014

I was lucky enough to spend Tuesday at Bruce Carton’s Securities Enforcement Forum 2014. In three years, it has gone from zero to the preeminent securities enforcement law conference anywhere. I blogged it hurriedly...more

10/17/2014 - Compliance Enforcement Enforcement Actions FCPA SEC

Securities Enforcement Forum 2014 — FCPA, SEC/DOJ Joint Actions, and Other Recent Criminalization Trends

Today I’m blogging from Securities Enforcement Forum 2014, Bruce Carton’s excellent one-day conference, this year being held at the Four Seasons hotel in Washington, D.C. The posts will be fairly raw, and certainly not...more

10/15/2014 - Compliance Criminalization DOJ Enforcement Actions FCPA Joint Plan of Action SEC Strategic Enforcement Plan

Freedom to Retaliate against Foreign Whistleblowers May Not Be as Much Fun as It First Appears

What I’m about to say is grossly oversimplified, but here goes: The Dodd-Frank Act’s whistleblower provisions have two primary prongs. The first says that an individual who voluntarily provides the SEC with original...more

8/27/2014 - Dodd-Frank Employer Liability Issues Enforcement Actions FCPA Foreign Nationals Popular Sanctions Siemens Whistleblower Awards Whistleblowers

Guns and More Guns: SEC Hits Smith & Wesson for FCPA Violations

One thing the SEC likes to do is bring cases with a lot of deterrent value. That is, cases that it hopes will scare other people and companies into complying with the law. Often that means cases with large price tags...more

7/29/2014 - Corporate Counsel Disgorgement Enforcement Enforcement Actions FCPA Gun Manufacturers Penalties Popular Prejudgment Interest SEC Smith & Wesson

Foreign Pink Sheets Companies and the FCPA

Penny stock companies have been much in the news recently. They can be tough entities for law enforcement to look into given that their officers and directors are often not inclined to cooperate with government...more

7/21/2014 - Enforcement Enforcement Actions FCPA Foreign Corporations Popular White Collar Crimes

Texas Court of Appeals Has Put Some FCPA Internal Investigations in an Awkward Spot

Given that this case was decided last summer, I can’t quite put the headline in the present tense. I’m slow to the draw on it, but I think it’s important. Last July, in Writt v. Shell Oil Co., 409 S.W.3d 59 (Tex. Ct. App....more

4/24/2014 - Conflicts of Interest DOJ Employer Liability Issues FCPA Internal Investigations Qualified Privilege Summary Judgment Writt v Shell Oil

Admit-Deny Placeholder

First, the kerfuffle surrounding the Citi matter has wholly obfuscated the SEC staff’s achievement. Understand that these structured products cases are extremely complicated. Even when assisted by whistleblowers, the facts do...more

12/10/2013 - Citigroup Compliance FCPA SEC Whistleblowers

Commercial Bribery on the Table in Diebold FCPA Actions

Last week the SEC and Justice Department brought parallel FCPA enforcement actions charging Ohio-based Diebold, Inc., a global provider of ATMs and bank security systems. From the SEC’s press release: “[S]ubsidiaries...more

10/31/2013 - Bribery Compliance Enforcement Actions FCPA SEC

Total S.A. FCPA Actions Hearken Back to Time of Tupac Shakur, Beepers

Remember 1995? It was a long time ago, so you can be forgiven for not recalling much of it. To re-orient you: it was President Clinton’s first term; the Oklahoma City bombing happened in April; a jury found O.J. Simpson not...more

5/31/2013 - Bribery FCPA Fraud Fraudulent Concealment Gabelli v SEC Sanctions SEC Statute of Limitations Total SA

Ralph Lauren Escapes FCPA Problems with Minimized Damage

Often, enforcement officials at the SEC and the Justice Department express their wish that securities law violators own up to their (mis)conduct as soon it comes to light. That is, come to the government and explain what has...more

4/23/2013 - Bribery Compliance Customs Damages DOJ FCPA Ralph Lauren SEC Self-Reporting

SEC Highlights Compliance and Ethics for Broker-Dealers

On Tuesday the SEC held a National Compliance Outreach Program for Broker-Dealers at an open meeting at its D.C. headquarters. The first panel – titled The Role of Compliance and Ethics – was nominally targeted to...more

4/11/2013 - Broker-Dealer Chief Compliance Officers Compliance Corporate Culture FCPA Risk Management SEC

Accounting Fraud Not Just for Public Companies Anymore

One of the salient features of the SEC’s enforcement program in recent years has been a dearth of accounting fraud cases. While those cases used to be the SEC’s bread and butter, and hovered around 200 actions per year, they...more

4/4/2013 - Accounting Fraud Disclosure Requirements FCPA Investment Advisers Act of 1940 Oppenheimer & Co. SEC

SEC Charges Allianz with FCPA Violations

On December 17th, the SEC brought a settled administrative FCPA action against Allianz SE, a German insurance company with a subsidiary in Indonesia. The order does not allege violations of the FCPA’s antibribery provisions,...more

1/2/2013 - Allianz Books & Records FCPA SEC Subsidiaries Voluntary Disclosure Whistleblowers

FCPA Declination Opinions? SEC and DOJ Sort of Have Them

The Justice Department and the SEC released long-awaited joint guidance on enforcement and compliance with the Foreign Corrupt Practices Act yesterday. Many have pointed out that the guidance does not cover much new ground...more

11/16/2012 - Compliance DOJ FCPA FCPA Resource Guide SEC

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