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Laws and Legal Reforms against Corruption Are Approved

Derived from the historic constitutional reform which created the National Anticorruption System (“SNA”) in May 2015, the Mexican Congress approved a group of laws that comprises the legal framework that will make effective...more

Regulatory Enforcement in the UK - A Retrospective on 2015. Can the Fines Get Any Bigger?

When the UK Financial Services Authority became the Financial Conduct Authority (“FCA”) in April 2013, we were told that this would herald a tougher and more intrusive style of regulation. The FCA’s enforcement record in the...more

U.S. Chamber of Commerce Joins Chorus Pushing For Overhaul in SEC Enforcement Practices

A recent report by the Center for Capital Markets Competitiveness at the U.S. Chamber of Commerce (Chamber Report) regarding the enforcement program of the Securities and Exchange Commission (SEC or Commission) identified...more

Will the “Yates Memo” Impact Maryland State Prosecutions?

“SEC. 3. (a) The Attorney General shall: (1) Prosecute and defend on the part of the State all cases pending in the Appellate Courts of the State, in the Supreme Court of the United States or the inferior Federal Courts,...more

DOJ Unveils New Policy Directing Federal Prosecutors to Hold Individuals Accountable for Corporate Misconduct

On September 9, 2015, the Deputy Attorney General issued an internal memo directing federal prosecutors to focus on individuals when investigating allegations of corporate misconduct and to hold individuals accountable in...more

The UK Appoints New Anti-Corruption Unit: A Look at the Global Ramifications

Given London’s role in international business and finance, the UK Bribery Act 2010 promised to form a potential strong counterpart to the U.S. Foreign Corrupt Practices Act (FCPA). Now, the UK government is taking steps which...more

Department of Justice Reprioritizes Asset Seizure in Structuring Cases But Risks Remain

On December 23, 2014, the United States Attorney for the Eastern District of North Carolina filed a Complaint for Forfeiture In Rem seeking to forfeit $107,702.66 belonging to Lyndon McLellan, the owner of L&M Convenient Mart...more

DOJ: Companies Need Not Expend Exorbitant Fees to Get Full Cooperation Credit

During an FCPA panel event, the Chief of the US Department of Justice’s Fraud Section advised companies to conduct “targeted” FCPA investigations, dismissing the suggestion that companies must spend hundreds of millions of...more

DOJ Emphasizes Role of Criminal Prosecution in Addition to Regulatory Enforcement

The U.S. Department of Justice, through the Assistant Attorney General in charge of its Criminal Division, spoke forcefully on Tuesday regarding “the role of criminal law enforcement in prosecuting conduct that may also be...more

UK FCA Focuses Increased Scrutiny on Asset Managers

Regulators across the globe are intensifying their focus on enforcing the regulation of the asset management industry. Over the last twelve months, the global Financial Stability Board, the International Monetary Fund, the US...more

Corporate Compliance Policies – Interview with Bridget Rohde, Member, Mintz Levin

Attorney Bridget Rohde, Member of Mintz Levin's Litigation Practice, discusses the importance of comprehensive corporate compliance policies....more

What to Do When the Government Comes Calling – Interview with Peter Chavkin, Member, Mintz Levin

Attorney Peter Chavkin, Chair of Mintz Levin's White Collar Criminal Defense & Parallel Proceedings and Corporate Compliance & Internal Investigations Practices, discusses the steps individuals and companies should take when they are the target of a government investigation.more

Corporate Criminal Liability – Interview with Bridget Rohde, Member, Mintz Levin

Attorney Bridget Rohde, Member of Mintz Levin's Litigation Practice, discusses corporate criminal liability for the actions of employees and how companies can protect themselves.more

Insider Trading Enforcement And Deterrence

It is hard to know whether the government’s aggressive enforcement of insider trading laws deters criminals from violating securities laws. One key factor in this equation is the risk of getting caught. The Obama Administration can certainly point to an increase in enforcement – civil and criminal. Judges have been handing out stiff sentences for insider trading. more

Rolls-Royce Brings in Lord Gold – Is it Thinking Big Enough?

In December 2012 the BBC online service reported that Rolls-Royce Motor Cars Limited (Rolls-Royce) was in talks with the UK Serious Fraud Office (SFO) regarding potential allegations of bribery and corruption in Indonesia and China. more

The HSBC AML Settlement - Lessons Learned for the AML Compliance Practitioner

I recently wrote about banks behaving badly. Currently, Exhibit A in that list is HSBC. In December, 2012, the UK banking giant HSBC agreed to pay a fine of $1.92 billion for its transgressions involving money laundering. Today I want to look at the violations which the company engaged in and its resolution.more

Nevada Legislature May Prohibit The Establishment of Corporations For “Illicit Purposes”

Nevada’s legislature meets in regular session every other year for 12o consecutive calendar days. Nev. Const. Art. II, § 4 and NRS 218A.078. Although the 77th session does not start until February 4, legislators are already introducing bills.more

Fu Manchu and the Wal-Mart FCPA Investigation Water Torture

Today we celebrate Fu Manchu. No not the facial accouterments but the fictional character who was introduced to the world in a series of novels by British author Sax Rohmer during the first half of the 20th century. He has become an archetype of the evil criminal genius while also lending his moniker to the Fu Manchu moustache. I thought of Fu Manchu and his infamous drip, drip, drip water torture when I read the latest news about the ongoing Wal-Mart Foreign Corrupt Practices Act (FCPA) investigation.more

China’s Antitrust Authority Imposes Fines on Foreign Corporations for the First Time

Recently China’s National Development and Reform Commission (NDRC) imposed an RMB 353 million (USD 56.7 million) penalty against an international price-fixing cartel of LCD manufacturers, the largest the NDRC has ever imposed for antitrust infringement. The penalty is China’s first enforcement action against an international cartel and sends a strong signal to multinational corporations operating in China that enforcement actions against cartels will not be limited to Chinese entities.more

Recent Decision Provides Helpful Guidance on FCPA's "Wide Net"

District Court Determines that the SEC Bears the Burden of Negating the 'Facilitating' Payments Exception - On December 11, 2012, in a rare opinion interpreting the U.S. Foreign Corrupt Practices Act ("FCPA"), U.S. District Judge Keith Ellison granted, in part, two Noble Corporation executives' motions to dismiss claims by the Securities and Exchange Commission ("SEC") involving alleged bribes paid to Nigerian government officials in exchange for Temporary Import Permits ("TIPs") to operate oil rigs in Nigerian waters. Throughout his 61-page decision, Judge Ellison addressed several points of contention regarding the FCPA while reaffirming that the statute "cast[s] an otherwise wide net over foreign bribery." The decision offers helpful guidance to FCPA practitioners and companies with business operations abroad. In SEC v. Jackson, the defendants contended that the FCPA requires a plaintiff to allege "by name, or at minimum by role and job responsibility, the foreign official who was sought to be influenced." After a detailed discussion of the FCPA's legislative history and precedent, Judge Ellison disagreed and determined that the SEC's allegations of payments to unspecified Nigerian government officials were sufficient... Please see full article below for more information.more

When A Whistleblower Investigation Turns Criminal

The new SEC bounty-hunter regime, the explosion in whistleblower claims, and the increasing severity and complexity of those claims raises the specter of government investigations and criminal sanctions.more

A Year-End Update on the UK Bribery Act

Although 2012 did not bring a major prosecution, it was not without note-worthy events. The UK Serious Fraud Office (SFO), on top of the withdrawal of previous Bribery Act guidance and the publication of new guidelines in October, has put out new supplemental guidance on self-reporting financial crimes. These new guidelines require companies that self-report to the SFO to submit full details of their internal investigations into any wrongdoing, as well as supporting evidence such as emails, documents, banking or financial evidence, and witness statements. These requirements may appear onerous, but they underscore the significance that the SFO attaches to self-reporting and the detailed focus they expect businesses to display in dealing with compliance and wrongdoing.more

JFTC Releases Survey on Corporate Compliance Efforts and Recommends Best Practices

On November 28, 2012, the Japan Fair Trade Commission (“JFTC”) published the findings of its 2012 survey of corporate compliance practices based on (i) responses from approximately 879 companies listed on the Tokyo Stock Exchange; (ii) interviews of six attorneys specializing in corporate or antitrust law; and (iii) interviews of 82 companies with informative examples of success or failure. The JFTC’s report, titled “Survey on Corporate Compliance Efforts with the Antimonopoly Act (Summary),” coincides with an unprecedented era of administrative and criminal enforcement against Japanese companies and executives by the JFTC and U.S. Department of Justice, Antitrust Division. Although the results pertained to compliance with Japan’s Antimonopoly Act (“AMA”), the principles can be applied to ensure compliance with virtually any competition law regime.more

Good News, Bad News and Missed Opportunities on “Successor Liability”

The FCPA Guidance contains good news and bad news. When I ask one of my kids which they want to hear first … they inevitably choose bad news first. With that in mind, the FCPA Guidance includes relatively bad news on successor liability. In leading up to the FCPA Guidance, I thought the DOJ and SEC “teasers” would become a reality. What was I hoping (praying) for?more

The Italian Anti–Corruption Reform - Recent News

After a lengthy approval process, on October 31, 2012, the Italian Chamber of Deputies passed a long awaited anti-corruption bill (“Anti-Corruption Law”), aimed at improving transparency in the country’s public sector. The Anti-Corruption Law introduces new categories of corruption-related offences and strengthens those already contained in the Italian Criminal Code (“Codice Penale”). It also calls for the establishment of a new National Anti-Corruption Authority with investigative and remedial powers. Below is a summary of the changes brought about by this new law. Establishment of a National Anti-Corruption Authority for the Public Administration - Pursuant to art. 6 of the United Nations Organization’s Anti-Bribery Convention of December 14, 2005, ratified in Italy by Law no. 116 of August 3, 2009, each State is required, in accordance with the fundamental principles of its legal system, to promote the creation of specific governmental bodies, as appropriate, for purposes of preventing corruption by such means as: 1. enhancing the principles of the rule of law, proper management of public affairs and public property, integrity, transparency and accountability; 2. increasing and disseminating knowledge about the prevention of corruption crimes. The governmental bodies in question must be provided with the necessary independence, in accordance with the fundamental principles of their legal systems, so as to be enabled to carry out their functions effectively and free from any undue influence. In addition, they need to be provided with material resources and specialized staff, as well as the level of training that such staff may require. In particular, in the step taken to enforce and implement the principles contained in the above mentioned United Nation Organization’s Anti-Bribery Convention, the Anti-Corruption Law directs the establishment of a new authority named “National Anti-Corruption Authority” which will monitor the application and effectiveness of relevant measures taken by the government. Please see full alert below for more information.more

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