News & Analysis as of

The Foreign Corrupt Practices Act Due Diligence

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.

Completing the Deal: Recent Cases Illustrate the Benefits of Corruption-related Due Diligence and Remediation

by Allen & Overy LLP on

Several recent cases highlight the risks of successor liability when companies acquire targets that have been engaged in violations of anti-corruption laws. They reinforce the benefits of understanding a target’s potential...more

Corporate Compliance Programs: US and UK Perspectives

by Dechert LLP on

In today’s regulatory environment, companies face mounting pressure from law enforcement agencies to maintain robust compliance programs to deter and detect misconduct by employees, third-party vendors and business partners....more

Deep Dive Due Diligence: Part V – Level III Due Diligence as a Board Tool

by Thomas Fox on

Today, I conclude my exploration of Level III, deep dive due diligence, by discussing how a this should be considered as a best practices tool by a Board of Directors in a broader sense. I am joined in this exploration by...more

Deep Dive Due Diligence: Part IV – Level III Due Diligence for 3rd Parties

by Thomas Fox on

Today, I continue my exploration of Level III, deep dive due diligence, by discussing how this should be considered for third parties. I am joined this week by Candice Tal, founder and Chief Executive Officer (CEO) of...more

The DOJ Expects “Third-Party Management” from Compliance Programs

2016 was a banner year for global anti-corruption enforcement: the U.S. government set records in terms of both the number of FCPA actions brought and the total dollar amount of related fines. Meanwhile, governments from...more

Deep Dive Due Diligence: Part I – What is Level III Due Diligence?

by Thomas Fox on

There are many levels of due diligence investigation. In a multi-part series this week, I am going to focus on Level III, deep dive due diligence. I am joined in this exploration by Candice Tal, founder and Chief Executive...more

Private Equity and the New Trump Administration: Your Top Ten Questions Answered

by Foley & Lardner LLP on

The election of President Trump contained more than a few positive signs for Private Equity (PE) firms. Promises of a lower corporate tax environment, a ten-percent tax holiday for funds parked overseas, large infrastructure...more

How to Measure Third-Party Risk Management ROI

by Thomas Fox on

One area that has bedeviled Chief Compliance Officers (CCOs) and compliance practitioners is how to determine the return on investment (ROI) for your compliance program regarding the management of third parties. While it is...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

What is the Price for Failing to Voluntarily Disclose an FCPA Violation? – A Curious Case Of Successor Liability

by Bryan Cave on

On January 6, 2017, the Securities and Enforcement Commission filed an Administrative Action announcing a settlement with two global agribusiness companies. The Order is brief and short on facts. ...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

Trends from 2016 Record FCPA Enforcement Year (Part II of III)

by Michael Volkov on

No matter how you cut it – this was a big year in FCPA enforcement. Not just because of the large enforcement actions but the scope and depth of enforcement, remediation and compliance program demands....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

Lessons Learned From FCPA Enforcement Against JP Morgan for Sons and Daughters Referral Program

by Michael Volkov on

Last week, the Justice Department and the SEC finally brought to a close the Sons and Daughters or Princelings investigation. Pending investigations against four other companies still remain to be resolved....more

Due Diligence Basics – Beneficial Ownership

by Michael Volkov on

I hate to be the harbinger of bad news; that is against my nature; I am naturally an optimistic person. As I always say, there are solutions to every problem....more

Volkov on the Evolving Standards for Compliance Programs

by Thomas Fox on

Sometimes I get inspired when writing blog posts and sometimes I get on a roll. It is a bit of both this week and today, as previously this week, I have focused on Department of Justice (DOJ) pronouncements on their view of...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

A New Tool for Anti-Bribery Compliance Program: ISO 37001

Recently, the International Organization for Standardization (ISO) adopted a new set of standards, designated as ISO 37001, to assist organizations in their ongoing fight against bribery. As a result of recent increases in...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

Financial Services Quarterly Report - Third Quarter 2016: Managing the Compliance Aspects of Private Equity Investments

by Dechert LLP on

International business transactions can be subject to intense scrutiny due to the broad scope of the U.S. Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act, in addition to other similar anti-corruption measures...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

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