News & Analysis as of

Bribery Due Diligence

The Objective of Due Diligence: To Protect Your Culture

by Michael Volkov on

There has been so much attention paid to due diligence. We have reams and reams of articles highlighting the importance of due diligence. In addition, numerous vendors of due diligence services and technologies fill the...more

Gas Company Receives First Declination of 2017 Under FCPA Pilot Program

by Holland & Knight LLP on

The U.S. Department of Justice (DOJ) on June 16, 2017, announced its first declination of 2017 and the closing of its investigation of Linde North America Inc. and Linde Gas North America LLC (collectively, Linde) concerning...more

C-Suite Misconduct Results in Sociedad Quimica Y Minera FCPA Resolution with DOJ and SEC

by Michael Volkov on

In an unusual FCPA enforcement action, the Justice Department and the SEC resolved FCPA violations against Sociedad Quimica y Minera, a Chilean chemical and mining company, for a total of $30.5 million, for paying...more

Mondelez FCPA Enforcement Action — An Abuse of Prosecutorial Discretion?

by Michael Volkov on

The first FCPA enforcement action for 2017 landed with very little fanfare. The SEC reached a settlement with Mondelez International for $13 million. The facts surround the hiring of an agent in India and the failure of...more

Mondelez Agrees to Pay $13 Million to Settle FCPA Charges Related to Alleged Bribery in India

by Ropes & Gray LLP on

On January 6, 2017, the U.S. Securities and Exchange Commission (“SEC”) announced that Illinois-based multinational confectionery company Mondelez International Inc. and its subsidiary Cadbury agreed to settle Foreign Corrupt...more

A Company Must Do Compliance – The Mondelez FCPA Enforcement Action

by Thomas Fox on

In almost every Foreign Corrupt Practices Act (FCPA) enforcement action, there are nuggets to be gleaned for any Chief Compliance Officer (CCO) or compliance practitioner. All one has to do is look for them. Back in 2012,...more

Coordinating Third Party Due Diligence and Procurement

by Michael Volkov on

Third party risk management is easily one of the most challenging risks for compliance officers. With all the attention and hype surrounding third party risk, companies have marshaled attention and resources to mitigate the...more

Don’t Let Forced Labor and Bribery in Your Supply Chain Spoil the Holidays

by Perkins Coie on

The holiday retail season is an ideal time to check that forced labor and bribery—two top and interconnected supply-chain threats—do not undermine the success of your critical sales period. Not long ago, many in the...more

FCPA Enforcement Action Highlights Risks for the Financial Services Industry and Individual Executives

by Dechert LLP on

New York-based hedge fund Och-Ziff Capital Management Group (the “Hedge Fund”) agreed to pay approximately $412 million to resolve charges brought by the U.S. Securities and Exchange Commission (“SEC”) and Department of...more

Embraer FCPA Enforcement Action – Part IV

by Thomas Fox on

I conclude my exploration of the recently announced Department of Justice (DOJ) and Securities and Exchange Commission (SEC) Foreign Corrupt Practices Act (FCPA) enforcement action with the announcement of the resolution of...more

Embraer FCPA Enforcement Action – Part II

by Thomas Fox on

Today I continue my exploration of the recently announced Department of Justice (DOJ) and Securities and Exchange Commission (SEC) Foreign Corrupt Practices Act (FCPA) enforcement action with the announcement of the...more

DOJ and SEC Raising the Stakes on Third Party Risk Management

by Michael Volkov on

If you review the last ten years of FCPA enforcement, the unmistakable pattern is rising expectations with regard to corporate compliance programs, particularly with regard to third party due diligence and risk management....more

Landmark SEC Decision Cites Compliance, Diligence in Decision Not to Prosecute FCPA Violations

by NAVEX Global on

In a remarkable affirmation of the value of robust compliance and due-diligence programs, the Securities and Exchange Commission last month announced that it would not prosecute a U.S. company for potential violations of the...more

Och-Ziff Failures in Due Diligence and Transaction Compliance (Part II)

by Michael Volkov on

The Och-Ziff enforcement action is replete with examples of failures in due diligence and transaction monitoring compliance. Och-Ziff’s bribery schemes were elaborate and intricate and involved complex transactions,...more

SEC Cracks Down on Charitable Contributions under the FCPA - Best Practices In Light of Recent SEC Enforcement

by King & Spalding on

For the first time, the Securities and Exchange Commission has brought an FCPA enforcement action premised entirely on a one-time charitable contribution. On September 20, 2016, the SEC announced a settled FCPA...more

Lessons Learned from Nu Skin

by Morgan Lewis on

The enforcement action against manufacturer Nu Skin Enterprises highlights the risks of making charitable donations in high-risk countries without conducting meaningful anticorruption due diligence....more

5 Key Takeaways from AB InBev SEC FCPA Settlement

by Michael Volkov on

The Justice Department and the SEC have been busy over the last 2 weeks in the FCPA arena. For those who have raised doubts about DOJ and the SEC’s continuing commitment to FCPA enforcement, you should forever hold your...more

The Fall of Big Sam

by Dentons on

Last week, the Football Association (FA) dispensed with the services of its shortest-serving England manager after just 67 days in the role and following only one game in charge. Sam Allardyce (Allardyce) was removed from his...more

Donations and Grants in China: Compliance Controls Beyond T&E

by Ropes & Gray LLP on

While travel and entertainment expenses have presented significant compliance challenges for life sciences companies operating in China, donations and grants can also pose notable compliance risks. China’s escalated...more

No Longer a Mirage: FCPA Compliance and Cooperation Has Its Benefits

On September 12, 2016, the SEC announced that it had reached a settlement with Jun Ping Zhang (“Ping”), a former executive of a Chinese subsidiary of Harris Corporation (“Harris”), regarding alleged violations of the Foreign...more

The Ping FCPA Enforcement Action: Lessons for the Compliance Practitioner

by Thomas Fox on

The Securities and Exchange Commission (SEC) settled a Foreign Corrupt Practices Act (FCPA) enforcement action against an individual earlier this month when it announced the resolution of a matter involving Jun Ping Zhang,...more

Three Key Takeaways from the Nu Skin FCPA Settlement for a Corrupt Charitable Donation

by Michael Volkov on

In a rare enforcement action, the SEC settled an FCPA enforcement action for $766,000 for a charitable donation of $154,000 to improperly influence a high-ranking Chiese Communist party official to prevent a provincial agency...more

When Diligence is Not Given its “Due”

by Michael Volkov on

I find myself quibbling with compliance terms – hyper focus on small issues is not a positive trait. I often urge clients and colleagues to focus on issue of more significance and leave the smaller ones for another day....more

Hallmark 10 – Mergers and Acquisitions: Pre-Acquisition Due Diligence and Post-Acquisition Integration

by Thomas Fox on

The FCPA Guidance notes that one of the ten hallmarks of an effective compliance program is around mergers and acquisitions (M&A), in both the pre and post-acquisition context. A company that does not perform adequate FCPA...more

Five Key Takeaways from Key Energy’s SEC FCPA Settlement

by Michael Volkov on

The SEC, last week, announced its $5 million settlement with Key Energy. As always, FCPA settlements contain important examples of enforcement priorities and policies. Key Energy’s recent settlement is an example of the...more

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