News & Analysis as of September 20, 2024

Hiring & Firing › Sons And Daughters

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Hiring & Firing refers to the process of recruiting, interviewing and offering employment and the process of evaluating performance and dismissing employees. Hiring & Firing is a highly regulated area and can create tremendous liability for employers who fail to properly adhere to acceptable employment practices. Some of the potential pitfalls in this area stem from discriminatory hiring practices, improper performance evaluations, and retaliatory firings. less -

Instituciones Financieras y el FCPA

Foodman CPAs & Advisors on 1/10/2020

La Ley de Prácticas Corruptas en el Extranjero (“Foreign Corrupt Practices Act – FCPA”) prohíbe el pago de sobornos a funcionarios extranjeros para ayudar a obtener o retener negocios. Exige que las empresas cuyos valores se...more

Financial Institutions and the FCPA

Foodman CPAs & Advisors on 1/10/2020

The Foreign Corrupt Practices Act (FCPA) prohibits payment of bribes to foreign officials to assist with obtaining or retaining business. It requires companies whose securities are listed in the US to maintain books and...more

Barclays – Back to the Basics

Thomas Fox - Compliance Evangelist on 10/2/2019

This week I am considering the recent spate of Foreign Corrupt Practices Act (FCPA) enforcement actions brought by the Securities and Exchange Commission (SEC) at the close of its fiscal year. Last week saw several...more

Barclays Agrees to Pay the SEC $6.3 Million to Settle FCPA Offenses for Hiring of Relatives of Foreign Officials in Asia

The Volkov Law Group on 10/1/2019

Barclays joined the club of global financial institutions settling FCPA violations for hiring of relatives of foreign officials in Asia. Barclays agreed to disgorge $3.8 million and paid prejudgment interest of nearly $1...more

The Credit Suisse FCPA Enforcement Action: Part III – The Result and Going Forward

Thomas Fox - Compliance Evangelist on 7/13/2018

Last week Credit Suisse Group AG (CSAG) and Credit Suisse (Hong Kong) Limited (CSHK), a subsidiary of CSAFG, settled a Foreign Corrupt Practices Act (FCPA) enforcement action for just over $77 million for the illegal hiring...more

The Credit Suisse FCPA Enforcement Action: Part I – Background

Thomas Fox - Compliance Evangelist on 7/11/2018

Day 3 of One Month to Better Compliance Through HR-JPMorgan Chase FCPA Enforcement Action

Thomas Fox - Compliance Evangelist on 5/3/2017

Today, I conclude my review of FCPA enforcement actions that involved the corporate hiring function. From these three cases I have considered, it is clear that HR must be involved in compliance and if HR hiring controls are...more

Badda Bing, Badda Boom!! — DOJ and SEC Make 2016 a Record Year for FCPA Enforcement (Part I of III)

The Volkov Law Group on 1/5/2017

We begin the New Year with a three-part series on the FCPA: (1) A review of FCPA enforcement in 2016; (2) Trends from 2016 FCPA enforcement; and (3) Predictions for FCPA enforcement in 2017....more

JPMorgan Sons and Daughters FCPA Enforcement Action, Part III-St. Mark’s Revealed

Thomas Fox - Compliance Evangelist on 11/23/2016

This week I am exploring the JP Morgan Chase (JPM) and its subsidiary, JPMorgan Securities (Asia Pacific) Limited (JPM-APAC), (collectively ‘the company’) Foreign Corrupt Practices Act (FCPA) enforcement action which...more

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

The Volkov Law Group on 11/23/2016

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

JPMorgan Sons and Daughters FCPA Enforcement Action, Part II

Thomas Fox - Compliance Evangelist on 11/22/2016

Today I will consider the superior result achieved by JPM in its FCPA resolution. Not only did it receive a 25% discount off the bottom of the US Sentencing Guidelines fine range but it received a NPA and not even a Deferred...more

JPMorgan Sons and Daughters FCPA Enforcement Action: Part I – Venice and Fog

Thomas Fox - Compliance Evangelist on 11/21/2016

JP Morgan Chase (JPM) and its subsidiary, JPMorgan Securities (Asia Pacific) Limited (JPM-APAC) resolved its Foreign Corrupt Practices Act (FCPA) matter last week, obtaining a Non-Prosecution Agreement (NPA) from the...more

FCPA Compliance: Does “Anything of Value” Really Mean “Anything of Value”?

The Volkov Law Group on 8/10/2016

The FCPA statute is not as vague as some contend. I remember the words of a former FTC Chairperson who told me once – “The Clayton Act is not vague. I just read the law and apply it to the facts.”...more

Three Key Questions to Ask in Hiring of Family Members of Foreign Officials

Thomas Fox - Compliance Evangelist on 8/4/2016

One of the top academic commentators in the anti-corruption space is Matthew C. Stephenson, co-founder of the Global Anticorruption Blog. I was intrigued by Stephenson’s piece, entitled “Does an FCPA Violation Require a Quid...more

Froome Ends Tour With Win; JP Morgan to End Sons and Daughters Case?

Thomas Fox - Compliance Evangelist on 7/25/2016

I begin today’s post with a tip of the (cycling) helmet to Englishman Chris Froome who yesterday won his third Tour de France championship. Froome overcame a great many obstacles, not the least of which was being involved a...more

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Hiring & Firing › Sons And Daughters

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