News & Analysis as of

Governance & Securities Law Focus: Europe Edition, April 2014

In this issue: - EU Developments - German Developments - UK Developments - Us Developments - Excerpt from EU Developments - European Commission Proposes to Introduce Shareholder "Say...more

Best Practices For Anti-Corruption Compliance Programs – A Moving Target

The Justice Department and the SEC have pushed extraordinary changes in the field of anti-corruption compliance. If one looks back five years ago and compares the so-called best-practices from 2008 and compares them to...more

Board Investigations And The Curse Of The Mummy’s Tomb – Part II

Yesterday I began an exploration of a recent article in the Corporate Board magazine, entitled “Successful Board Investigations” by David Bayless and Tammy Albarrán, partners in the law firm of Covington & Burling LLP. In...more

For FCPA Compliance, Tone At The Top Key, Lack of Policies A Difficulty

The number of FCPA enforcement actions brought in recent years has declined. The SEC, for example, reports that in fiscal 2013 it brought 8 cases, compared to 10 in 2012 and 15 in 2011. Nevertheless, those who might be...more

The FCPA And Fight Against Terrorism

I admit it took me awhile to finally get it. I have long wondered what could have caused the explosion in Department of Justice (DOJ) and Securities and Exchange Commission (SEC) enforcement of the Foreign Corrupt Practices...more

Anti-Corruption Compliance: Enhanced Elements Become The New Norm

The Department of Justice and the SEC have had a profound effect on corporate compliance programs. That is an understatement....more

Regrouping And Refocusing: 2013 FCPA Year-In-Review And Enforcement Trends For 2014

Following a relatively flat enforcement landscape and some bumps in the 2013 prosecutorial road, the Department of Justice (‘‘DOJ’’) and the Securities and Exchange Commission (‘‘SEC’’) appear poised to spring back into...more

The Compliance Crystal Ball—Top 10 Compliance Trends For 2014

It is that time of year again when we dust off the compliance crystal ball and take a look at what might be in store for 2014. 1. Executive Order 13627 Changes Government Contracting - Want a government contract...more

The Foreign Corrupt Practices Act—A Look Back at 2012 and 2013

Over the last two years, enforcement of the Foreign Corrupt Practices Act (“FCPA”) has remained a priority of the U.S. Department of Justice (“DOJ”) and Securities and Exchange Commission (“SEC”). That emphasis is likely to...more

We Mean What We Say – FCPA Enforcement Begins The Year With A Bang

Gone are the days when everyone wondered whether FCPA enforcement was slowing down. The Justice Department and the SEC have answered that question with a resounding statement – “We are here to stay.”...more

The FCPA Person Of The Year – The Prosecutor

To continue a “tradition” on Corruption Crime and Compliance, I like to end the year with recognition of the “person of the year,” referring to the institution which has had the most impact in the enforcement and compliance...more

FCPA Compliance and Ethics Report-Episode 31-the FCPA Year in Review, Corporate Enforcement Actions [Video]

In this episode, I review the corporate FCPA enforcement actions of 2013. ...more

FCPA Compliance and Ethics Report-Episode 30-Interview with the FCPA Professor-Part 2 [Video]

This episode 30 is Part 2 of my interview with the FCPA Professor. ...more

Red Notice Newsletter - December 2013

Introduction - Welcome to the December 2013 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. This month on the anticorruption front, an oil services giant agrees to pay over a quarter...more

Weatherford International Reaches $253M Settlement with the DOJ, SEC, OFAC, and BIS

I. Introduction - On November 26, 2013, Weatherford International (“Weatherford” or “the Company”), an oil-field services company that trades on the New York Stock Exchange, agreed to pay $253 million in criminal and...more

What’s New in Anticorruption Enforcement

According to the New York Times, the Securities and Exchange Commission (“SEC”) is investigating potential bribery issues stemming from alleged abuses in JPMorgan’s “Sons and Daughters” hiring program in China. As reported in...more

Pack Your Bags: SEC And DOJ To Intensify The Spotlight On The Foreign Corrupt Practices Act

Comments made by Kara N. Brockmeyer, the Securities Exchange Commission’s chief of the Foreign Corruption Practices Act (FCPA) unit, and Charles E. Duross, deputy chief of the Department of Justice’s FCPA unit, at the recent...more

DOJ and SEC Officials Outline Considerations for Companies’ Internal Investigations

Companies all over the globe are increasingly aware of the record number of corporate criminal enforcement actions brought in recent years by enforcement authorities to combat corruption, and many companies now are also...more

Fine Tuning Your Anti Corruption Compliance Program [Video]

Summary: In this era of aggressive FCPA enforcement, companies are adopting anti-corruption compliance programs. The Department of Justice and the SEC have warned companies against adopting "paper compliance programs" without...more

Tackling the realities of due diligence in a global setting

The Resource Guide to US FCPA* (the Guidance) promulgated by the DOJ and SEC emphasizes the need for appropriate due diligence and vetting before engaging third parties. The Guidance details the need to conduct...more

Risk-based due diligence of third-party intermediaries: a scorecard approach

Companies operating internationally often engage numerous – sometimes even thousands – of third parties around the world to help facilitate their business. Alongside the growth of such relationships, the risks posed by them...more

Corruption Enforcement Goes Global

As BakerHostetler recently reported in its FCPA Mid-Year Update, the phenomenon of parallel prosecutions is gaining popularity as more countries enact and enforce anti-corruption legislation....more

Honoring Helen Thomas And Praising FCPA Compliance Policies

This past weekend Helen Thomas passed away. She truly was a one-of-a-kind. The Dean of the White House Press Corp when she died, having covered every president from John F. Kennedy to Barack Obama for United Press...more

SEC Announces Three New Anti-Fraud Enforcement Initiatives

On July 2, the Securities and Exchange Commission announced three new initiatives in the Division of Enforcement (the “Division”) focused on the detection and prevention of fraud. ...more

Will Independent Directors Be on the Hook for Failure of Internal Controls in FCPA Cases?

The Foreign Corrupt Practices Act ("FCPA" or "the Act") prohibits bribery of foreign public officials in order to obtain or retain business. In addition to its anti-bribery provisions, the FCPA contains accounting provisions...more

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