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Red Notice Newsletter - August 2015

Welcome to the August 2015 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. This month on the anticorruption front, the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange...more

Federal Judge Rejects DOJ’s Theory of FCPA Accomplice Liability

On August 13, 2015, a US district judge dismissed a charge seeking to hold a defendant criminally liable for conspiracy to violate the Foreign Corrupt Practices Act (FCPA) if he is not a principal or agent of a US domestic...more

Front Line Interview Episode 1. Alison Taylor: Organizations, Compliance & Corruption [Video]

In the launch of a new video series, Front-Line Interviews, I engage with Alison Taylor, Director of Energy and Extractives at BSR (Business for Social Responsibility). I first became aware of Alison’s work via a Forbes...more

[Event] Why Anti-Bribery Programs Fail and How Compliance Must Evolve - Sept. 17th, Boston, MA

In a “Catch Me If You Can” like panel, a former US and UN prosecutor and former FCPA violator/ turned cooperator discuss the realities of corporate anti-bribery compliance. It’s not often that compliance officers are...more

Extradition for U.S. Antitrust Crimes: An Anomaly or the New Normal?

In April 2014, Germany extradited Romano Pisciotti, an Italian national, to the United States to face criminal charges related to his alleged participation in an international cartel in the marine hose industry. (Press...more

No FCPA Accomplice Liability for Non-resident Foreign Nationals if No Agency

Court rules that the US Department of Justice cannot expand the FCPA’s reach simply by charging non-resident foreign nationals with conspiracy....more

Former SAP Executive Pleads Guilty to Paying “Necessary” Bribes

On August 12, the DOJ and SEC announced joint enforcement actions against software giant SAP International’s former head of Latin American sales, Vicente Garcia. Garcia pleaded guilty to conspiracy to violate the FCPA and...more

The Looting Machine & The Modernization of Corruption

Today’ Q and A is with Tom Burgis, Investigations Correspondent at Financial Times and author of “The Looting Machine: Warlords, Oligarchs, Corporations, Smugglers, and the Theft of Africa’s Wealth”. As Tom States in his...more

July FCPA Compliance Digest | Bonus: Global Anti-Corruption News

July was a quiet month for FCPA compliance news. There were some rumors that the SEC and DOJ were in the process of revising A Resource Guide to the US Foreign Corrupt Practices Act, but unfortunately The FCPA Blog shut down...more

SEC Sues 32 Defendants Involved in Insider Trading Operation; DOJ Files Criminal Charges Against Leaders

On August 10, the SEC filed a complaint against 32 defendants in the District of New Jersey for their alleged involvement in an international scheme to profit from stolen, confidential information regarding corporate earnings...more

China Regulatory Enforcement Quarterly - Q2 2015

The Chinese regulatory enforcement landscape is still very active for the second quarter of 2015. In the absence of high-profile enforcement actions against Communist Party officials, Chinese authorities appear to be...more

Former Derivatives Trader Convicted and Sentenced in U.K. on Libor Manipulation Charges, Also Facing Criminal Charges in U.S.

On August 3, a jury in the United Kingdom convicted former derivatives trader Tom Hayes on eight counts of fraud for his role in the manipulation of the London Interbank Offered Rate (Libor) for Japanese Yen. Hayes was...more

This Week In Securities Litigation

The Government requested that the Supreme Court overturn U.S. v. Newman, the Second Circuit’s decision on tipping and the personal benefit test. Previously, the Second Circuit had declined a request to either rehear the case...more

How Did This End Up On My Desk? | Anti-Bribery Compliance Panel Recap

“How did this end up on my desk?” Richard Bistrong, former front-line international businessman, contemplated at a panel last Thursday, how a letter had reached him from the Procurement Task Force of the United Nations...more

China’s Focus on Combatting Commercial Bribery Is a Wake-Up Call

Earlier this month, six former employees of Tencent Holdings (Tencent), including Liu Chunning, a now high-level executive of Alibaba Group, were detained by Chinese authorities as part of a bribery investigation relating to...more

DOJ–Louis Berger, Two Executives Resolve FCPA Charges

The DOJ resolved another FCPA action with the company entering into a deferred prosecution agreement, paying a criminal fine and agreeing to the imposition of a monitor after self reporting and cooperating. Two of the firm’s...more

Bridging the Week - July 2015 #2

Alleged Fictitious Sales to Facilitate Improper Money Pass Prompts CFTC Injunctive Action and Asset Freeze: The Commodity Futures Trading Commission filed a lawsuit in a federal court in Illinois against Yumin Li and Kering...more

Top Ten International Anti-Corruption Developments for June 2015

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments in the past month with links to primary...more

The evolving nature of legal risk: Legal risk, as we once understood it, is changing. Companies need to be prepared to respond...

Over the past decade, many of the legal risks facing companies under US law have narrowed dramatically while others have proliferated. The advent of streaming news and social media means that local issues can become global...more

[Event] Why Anti-Bribery Programs Fail and How Compliance Must Evolve - July 23, New York, NY

In a “Catch Me If You Can” like panel, a former US and UN prosecutor and former FCPA violator/ turned cooperator discuss the realities of corporate anti-bribery compliance. It’s not often that compliance officers are...more

From 20 Years to Zero in Six Trial Days

As widely reported in the national media, Quinn Emanuel achieved a stunning outcome in the trial of our client, Joseph Sigelman, the co-founder and former Co-CEO of a Colombian oil company called PetroTiger. When trial began...more

European Competition Law Newsletter – July 2015

On 24 June 2015, the UK Competition and Markets Authority (CMA) was defeated in its first attempt at convincing a jury to convict individuals for the UK criminal “cartel offence”. The jury was not persuaded that the two...more

Corporate Investigations & White Collar Defense - June 2015

The Unfolding FIFA Scandal: Will the DOJ Show the Banks a Red Card? - Why it matters: The worldwide soccer community has for years decried the brazen corruption that permeated FIFA, international soccer’s governing...more

What the Government Expects to Find in an Anti-Corruption Compliance Program

Similar to Foreign Corrupt Practices Act enforcement generally, the federal government has expanded what it expects to find in an anti-corruption compliance program. U.S.-connected companies operating internationally...more

Australian Senate Announces Foreign Bribery Inquiry

The Senate will commence an inquiry into foreign bribery, with a view to toughening Australia’s anti-bribery regime. The chair of the relevant Senate committee has indicated that various high profile business figures and...more

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