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Foreign Corrupt Practices Act (FCPA) Libya

The Volkov Law Group

Legg Mason Pays $34 Million to Resolve SEC’s Libyan FCPA Investigation

The Volkov Law Group on

Legg Mason can finally close its books on the Gaddafi-era, Libyan bribery scandal. In June 2018, Legg Mason entered into a non-prosecution agreement with the Justice Department and agreed to pay $32 million for its role in...more

Thomas Fox - Compliance Evangelist

Ed King, Two Great Songs and Legg Mason

King’s back story of starting with the great psychedelic band Strawberry Alarm Clock and then moving to the Southern rockers Lynyrd Skynyrd, informs today’s blog post on the Legg Mason, Inc. (LM) Securities and Exchange...more

The Volkov Law Group

Textbook Lessons Learned from the Société Générale and Legg Mason FCPA Enforcement Action (Part III of III)

The Volkov Law Group on

Sometimes it takes a large enforcement action to underscore basic and important anti-corruption compliance principles. The Société Générale enforcement action demonstrated two important principles – the dangers of a weak...more

The Volkov Law Group

Société Générale and Legg Mason Pay the Price for Bribery in Libya (Part II of III)

The Volkov Law Group on

Société Générale and Legg Mason carried out a massive bribery scheme to pay Gaddafi-era government officials in Libya in exchange for large investments by Libya government funds. In total, Société Générale and Legg Mason...more

The Volkov Law Group

Justice Department Settles Gaddafi-Libya FCPA Cases with Société Générale and Legg Mason (Part I of III)

The Volkov Law Group on

In a one-two punch of FCPA enforcement actions, the Justice Department announced two related FCPA settlements involving Société Générale and Legg Mason for Gaddafi-era bribery payments to Libyan officials....more

Thomas Fox - Compliance Evangelist

This Week in FCPA-Episode 106 - the Back in the (FCPA) Saddle Again edition

With a wild ride of FCPA cases over the past week, Jay Rosen and I are back in the FCPA saddle again to take a look at some of the top compliance stories from the past week. 1. Société Générale S.A. becomes No. 5 in the...more

Thomas Fox - Compliance Evangelist

A Great Game, a Great Play and the Legg Mason FCPA Enforcement Action

Legg Mason had engaged in a straight-forward bribery scheme and the perpetrators had actively engaged to hide it from the corporate headquarters. The bribery scheme involved Société Générale S.A. (SocGen) and the entity...more

Thomas Fox - Compliance Evangelist

Two Intertwined FCPA Enforcement Actions: SocGen and Legg Mason

The Department of Justice (DOJ) announced two Foreign Corrupt Practices Act (FCPA) enforcement actions earlier this week and the intertwined nature of these two enforcement actions informs today’s blog post....more

King & Spalding

Tokyo Dispute Resolution & Crisis Management Newsletter – December 2016

King & Spalding on

Major FCPA Enforcement Action - Including charges against the CEO and CFO for failing to prevent misconduct - In one of the largest FCPA settlements in history, hedge fund Och-Ziff Capital Management Group LLC...more

The Volkov Law Group

FCPA Enforcement Ramping Up Against Private Equity and Hedge Funds (Part III)

The Volkov Law Group on

The Och-Ziff settlement has now set the stage for the Justice Department and the SEC to focus its enforcement eye on the private equity and hedge fund industry. The Och-Ziff action was initiated in response to the SEC’s...more

King & Spalding

Major FCPA Enforcement Action Against Nation’s Largest Publicly Traded Hedge Fund

King & Spalding on

In one of the largest FCPA settlements in history, hedge fund Och-Ziff Capital Management Group LLC (“Och-Ziff”) recently resolved a long-running government inquiry by agreeing to $413 million in financial penalties and a...more

The Volkov Law Group

DOJ and SEC Deliver Body Blow to Private Equity and Hedge Funds: Och-Ziff Settles FCPA Violations for $412 Million (Part I)

The Volkov Law Group on

The Justice Department and the Securities Exchange Commission delivered a powerful FCPA enforcement message to private equity and hedge funds. Och-Ziff settled with the DOJ and SEC for total penalties of $412 million....more

Thomas Fox - Compliance Evangelist

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 Volkov Law Group

Private Equity FCPA Enforcement

The Volkov Law Group on

FCPA enforcement efforts are not so hard to follow and predict – the government likes to provide advance warnings as an effective means of deterrence. Justice Department and SEC officials will often tell the public their...more

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