News & Analysis as of

Alstom Guilty Plea Sends Strong Message that DOJ Has Harsh View of Inadequate Internal Controls and Failure to Fully Cooperate

On December 22, 2014, French power and transportation company Alstom S.A. (“Alstom”) pleaded guilty to violating the Foreign Corrupt Practices Act (“FCPA”) and agreed to pay $772.29 million, the largest criminal fine ever...more

Cosmetics Giant Puts Up $135 Million for FCPA Violations

The Chinese subsidiary of a major U.S. cosmetics company recently pleaded guilty to violations of the Foreign Corrupt Practices Act (FCPA) and agreed to pay $67.7 million to settle criminal charges with the Department of...more

The Alstom Case: Realities and Lessons Learned

The old expression goes – “Do not break your arm patting yourself on the back” – but maybe I might just extend my arm a little with the Alstom settlement. Last year I predicted that the Alstom case would eclipse Siemens as...more

The Year in White-Collar Crime: A Look Back Helps Us See Ahead

The Justice Department’s white-collar agenda in 2014 was marked by skyrocketing corporate settlements and continued reliance on deferred and non-prosecution agreements, coupled with compliance monitors. Several significant...more

Top Ten International Anti-Corruption Developments for December 2014

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

Avon Settles FCPA Charges

On December 17, 2014, Avon Products, Inc. (“Avon”) resolved Foreign Corrupt Practices Act (FCPA) investigations being conducted by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) with a...more

Red Notice Newsletter - December 2014

Welcome to the December 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. This month on the anticorruption front, a major cosmetics retailer as well as its subsidiary pleads guilty to...more

Alstom’s FCPA Guilty Plea and Fine of $772 Million Offer Compelling Lessons

The December 23, 2014, announcement by the U.S. Department of Justice (DOJ) that Alstom, S.A., a French power and transportation company, pled guilty to two Foreign Corrupt Practices Act (FCPA) charges and agreed to pay $772...more

Bank Leumi Enters Into DPA with U.S. Department of Justice

A major Israeli international bank admitted that it conspired to aid and assist U.S. taxpayers to prepare and present false tax returns to the Internal Revenue Service (IRS) by hiding income and assets in offshore bank...more

Alstom Joins Santa’s Naughty List – In a Very Big Way

The North Pole for Foreign Corrupt Practices Act (FCPA) enforcement action announcements seems to have temporarily moved south for the month of December. Last week there was the final announcement of the long-standing Avon...more

Avon Settles FCPA Charges with the DOJ and SEC

Travel, entertainment and gifts continue to be a central focus of FCPA enforcement. Earlier this month, and last month, the Commission filed settled FCPA actions centered on these items. Now the SEC and the DOJ have settled...more

Dallas Airmotive, Inc.'s FCPA Matter Offers Practical Insights and Continuing Lessons

On December 10, 2014, DOJ filed a criminal Information alleging (i) conspiracy and (ii) violation of the bribery provisions of the FCPA against Dallas Airmotive, Inc., an aircraft engine maintenance, repair and overhaul...more

DPAs and NPAs – Powerful Tools in the Fight Against Corruption

As readers of this blog know the FCPA Professor and I usually look at the same Foreign Corrupt Practices Act (FCPA) enforcement action, item or remark and see different things. Sometimes we even hear the same thing and come...more

The Positive Effects of DPAs and NPAs in FCPA Enforcement

One of the oft-made criticisms regarding the Department of Justice (DOJ) around its enforcement of the Foreign Corrupt Practices Act (FCPA) is its the use of Deferred Prosecution Agreements (DPAs) and Non-Prosecution...more

Shadow Regulation: A Call For Judicial Oversight To DPA’s Or NPA’s

On August 21, 2014, the United States Department of Justice announced a record 16.65 billion dollar agreement to resolve civil claims alleged against Bank of America for improperly concealing the risks of mortgage-related...more

Federal Prosecutors: The New Architects Of Corporate Governance

If I asked who or what are the primary sources of corporate governance changes, I would expect the following answers: Congress, the Securities and Exchange Commission, the stock exchanges, proxy advisory firms, public pension...more

The Long Arm of the FCPA: Former BizJet CEO Arrested in Amsterdam, Pleads Guilty in Oklahoma

On July 24, 2014, the Department of Justice (DOJ) announced that Bernd Kowalewski, the former president and chief executive officer of BizJet International Sales and Support Inc. (“BizJet”), pleaded guilty to conspiracy to...more

Code of Conduct, Compliance Policies and Procedures-Part I

For the remainder of this week, I will have a four-part episode on your Code of Conduct and anti-corruption compliance policies and procedures. In today’s post I will review the underlying legal and statutory basis for the...more

Marubeni: FCPA Repeat Offender

In this era of aggressive FCPA enforcement, there are critics who have suggested that the Department of Justice should concentrate its prosecutions on individuals rather than imposing ever-increasing criminal fines on...more

Preservation of Legal Privilege in Corporate Investigations – A Cross Border Comparison

A D.C. Circuit decision (In re Kellogg Brown & Root, Inc.) has confirmed privilege over employee statements during in-house investigations. Can the world take comfort? This article examines privilege in the context of...more

"The Collateral Effects of Deferred Prosecution Agreements to Corporations in Subsequent Civil and Regulatory Actions"

Over the past decade, the deferred prosecution agreement (DPA) has become a standard tool of the U.S. Department of Justice. A DPA essentially is a contract between the DOJ and the target of an investigation — often a...more

Watergate is Not Just a Hotel – Corporate Suitors for Alstom

Today is the anniversary of an event that can truly be said to have changed the world; although certainly not in the manner intended by its planners, sponsors or participants. Today is the anniversary of the 1972 Watergate...more

Corporate Compliance Officers Face Threat of Civil Monetary Penalties and Criminal Prosecution for Institutional AML Deficiencies

While financial institutions have long faced the possibility of civil monetary penalties and criminal prosecution for violations of the Bank Secrecy Act (“BSA”) and its implementing regulations, found at 31 C.F.R. Chapter X,...more

GSK Faces a Bad Day at Black Rock

One of my favorite movies is Bad Day at Black Rock. It is one of the few movies to combine elements of film noir into something approaching a traditional Western. It also attacks directly the prejudice and hate against...more

Red Notice Newsleter

Welcome to the May 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. This month, on the anticorruption front, Avon Products, Inc. (“Avon”) agrees to pay USD $135 million to settle a...more

68 Results
|
View per page
Page: of 3