The Foreign Corrupt Practices Act Dept. of Justice

The Foreign Corrupt Practices Act is a United States Federal law enacted in 1974 to create transparency and prevent bribery for U.S.-based corporations conducting business overseas.
News & Analysis as of

This Week In Securities Litigation

Merrill Lynch was at the center of actions brought by the SEC and FINRA this week. One action charged the firm with violations of the customer protection rule tied to using customer cash and failing to protect their...more

DOJ - SEC Resolve FCPA Actions – Consider Cooperation

A Massachusetts based medical imaging company resolved FCPA charges with the DOJ and the SEC stemming from actions taken by its Danish subsidiary and its CFO. The actions center on about 180 suspicious transactions in Russia...more

Compliance Training – Part II: Risk Ranking and Design

Yesterday I began what I thought would be a two-part series on compliance training.However, or perhaps more accurately, as usual, I got carried away so I am now off on a multi-part series on how to design, implement and...more

Compliance Training, Part I

In a recent Slate article, entitled “Ethics Trainings Are Even Dumber Than You Think”, author L.V. Anderson railed against what she termed box-checking training where companies put on training not to actually train employees...more

Goldman Trial in London – See Any FCPA Issues?

It has been known for some time that the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have been investigating investment banks over their dealings with the Libyan sovereign wealth fund, known as...more

The UK Bribery Act: SFO Procedures and DPA Process

A couple of recent articles about the UK Serious Fraud Office (SFO) caught my attention. One was on thebriberyact.com, entitled “Opinion: DPA’s must show greater benefits. We discuss the Criteria & Process for a DPA set out...more

Mainbrace: June 2016 (No. 3)

As the July 1, 2016, effective date for the SOLAS Regulation VI/2 amendments quickly approaches, unanswered questions and difficulties complying with varied international and domestic implementations loom large. In an effort...more

Akamai and Nortek – DOJ Touts Declinations Under FCPA Pilot Program

DOJ’s FCPA Unit knows what they are doing. In the immediate weeks after the release of the FCPA Pilot Program, DOJ publicly released two declination letters for Akamai Technologies and Nortek, Inc. and the SEC announced...more

6 Steps for Complying with the DOJ’s FCPA Pilot Program

On May 19, we outlined the contours of the new pilot program for the voluntary disclosure of Foreign Corrupt Practice Act (FCPA) violations, which is part of the newly released FCPA Enforcement Plan and Guidance from the...more

How to garner a NPA and Declination: Akamai and Nortek – Part III

Today I conclude my three-part series on the Nortek, Inc. (Nortek) and Akamai Technologies, Inc. (Akamai) Foreign Corrupt Practices Act (FCPA) enforcement actions. These enforcement actions resulted in excellent results for...more

This Week In Securities Litigation

The elements of an insider trading claim continued to be a key focus this week. The first circuit, following prior circuit precedent, held that a personal benefit based on a long term friendship and a steak dinner was...more

How to garner a NPA and Declination: Akamai and Nortek – Part II

Yesterday, I began a three-part series on how two companies, which came to Foreign Corrupt Practices Act (FCPA) grief in China for bribery within their Chinese business units, received the rather stunning results of both Non...more

DOJ Announces First Declinations After Implementing FCPA Pilot Program

The U.S. Department of Justice (DOJ) issued its first set of public declinations since its April unveiling of a new self-reporting Foreign Corrupt Practices Act (FCPA) pilot program. On June 7, 2016, Akamai Technologies,...more

Corporate Investigations and White Collar Defense - June 2016

Eye on the Supreme Court—Corruption and Fraud Edition - Why it matters: This session, the Supreme Court has undertaken the review of numerous cases that raise thorny issues arising in the white collar context. In our...more

USDOJ Beefs Up FCPA Efforts

In April, the Fraud Section of the United States Department of Justice announced several measures designed to enhance its effort to discover and prosecute violations of the Foreign Corrupt Practices Act (FCPA). See, 15 U.S.C....more

How to garner a NPA and Declination: Akamai and Nortek – Part I

It certainly did not take long for companies to see the benefit of the Department of Justice (DOJ) Foreign Corrupt Practices Act (FCPA) Pilot Program around FCPA enforcement as this week there where two public declinations...more

DOJ Declines Prosecution in Two FCPA Cases, SEC Executes NPAs

The DOJ declined prosecution in two self-reported potential FCPA actions while the SEC entered into non-prosecution agreements with each issuer. One matter involved Akamai Technologies, Inc. while the other centered on...more

Akamai Technologies, Inc. and Nortek, Inc. Receive First Declinations Under the DOJ’s FCPA Pilot Program and Rare NPAs from the...

On June 7, 2016, the U.S. Department of Justice (“DOJ”) issued the first public declinations of a criminal enforcement action since implementing its new enforcement plan for the Criminal Division – Fraud Section’s Foreign...more

Third Party Risk Management: Balancing Due Diligence Screening and Monitoring

In response to aggressive FCPA enforcement and recurring problems with third parties, companies have spent substantial resources and time to design and implement comprehensive ethics and compliance programs. A key part of...more

DOJ’s Pilot Program – The Five Factors Designed to Nurture the Compliance Function

Perhaps the most positive and important aspect of the FCPA Pilot Program was the announcement of forward-looking and innovative remediation requirements for corporate compliance programs. As an aside, DOJ’s FCPA Pilot...more

Want to Work in Compliance – Learn How to Read a Balance Sheet

One of the most interesting tag lines I heard at Compliance Week 2016 was the following, if you want to work in my compliance department; you need to learn how to read a balance sheet. I thought that single line encapsulated...more

Accountant and Attorney Liability Newsbrief - Spring 2016

Parties Cannot Alter by Contract the Scope or Grounds of Judicial Review of an Arbitration Award - LeClairRyan shareholders Warren Hutchison and Nancy Reimer scored an impressive victory this spring when the...more

The Evolution of Compliance: Structural Changes Which Led to Compliance 2.0

If there was one theme from Compliance Week 2016 it was the continued evolution of the Chief Compliance Officer (CCO) role and the compliance profession. Long gone are the days when someone is sent over from a legal...more

CCO Independence, Authority and Resources as Indicia of an Effective Compliance Program

At the Opening Session of Compliance Week 2016, Stephen L. Cohen, Associate Director of Enforcement, Securities and Exchange Commission (SEC) and Andrew Weissmann, Chief of the Department of Justice (DOJ) Criminal Division’s...more

Global Standardization of Enforcement

Maybe I am a Luddite; maybe I just do not understand the new world and the impact of globalization. New ideas do not scare me, like others we know. New ideas present real opportunities for progress and innovation....more

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