Self-Reporting

News & Analysis as of

Electronic Disclosure of Violations Coming This Fall

Under EPA’s Audit Policy, those who discover, promptly disclose and correct environmental violations may have penalties reduced or eliminated. 60 Fed Reg 66, 705 et seq. (1995); 65 Fed Reg 19, 617, et seq. (2000) EPA recently...more

SEC Announces First Charges Against Underwriters under MCDC Initiative

On June 18, the U.S. Securities and Exchange Commission (SEC) announced enforcement actions against 36 municipal bond underwriters, the first enforcement actions against underwriters brought by the SEC under the...more

SEC Rolls Out First Wave of MCDC Settlements with Underwriters

Last Thursday, the SEC announced it reached settlement agreements with 36 municipal securities underwriting firms pursuant to its Municipalities Continuing Disclosure Cooperation (MCDC) Initiative.  These settlements mark...more

Internal Investigations: The Three C’s – Confidence. Credibility. Cost.

In this issue: - THE THREE C’S — CONFIDENCE, CREDIBILITY AND COST - WHO CONDUCTS THE INVESTIGATION? - SCOPE OF THE INVESTIGATION - MINDSET AT THE OUTSET OF AN INVESTIGATION - THE NEED FOR...more

The MCDC Initiative: December Was Just The Beginning

As many of our issuer clients know, as a result of perceived wide-spread violations of post issuance reporting compliance, in 2014 the SEC conducted its “Municipal Continuing Disclosure Compliance Initiative” or the “MCDC...more

FTC says self-reporting is likely to result in more favorable resolution

Last week, the FTC encouraged companies to self-report data breaches with the promise of more likely favorable treatment. The statement comes in a blog post, authored by Mark Eichorn, an Assistant Director in the FTC Bureau...more

Does the SEC Want Issuers to Self-Report Everything?

Andrew Ceresney, Director, SEC Division of Enforcement delivered remarks at a conference where he addressed the SEC’s cooperation program. Much of the focus was on the benefits of self-reporting and cooperation in...more

Preventing the Worst: Stopping Obvious and Bold FCPA Violations by Executives

Last year, a number of corruption cases, both individual prosecutions and suits against companies, revolved around the behavior of senior executives. While third parties can often be the vehicle companies use to funnel bribe...more

Senn Interview, Part II – A Discussion of the Decision to Self-Disclosure

In today’s post, I continue to explore my recent interview of Mara Senn, a partner at Arnold & Porter LLP in Washington DC. Senn is a white-collar practitioner who whose practice includes representing companies in...more

Episode 155-Mara Senn on FCPA Investigations and the Decision to Self-Disclose [Video]

In this episode I visit with Mara Senn, a partner at Arnold & Porter on how to think through a FCPA investigation and she provides a decision making calculus on how to make a decision...more

Internal Investigations and Cooperation Credit in FCPA Investigations

Cooperation credit and conducting internal investigations were key themes in recent remarks by Assistant Attorney General Leslie Caldwell at New York University Law School’s Program on Corporate Compliance and Enforcement...more

FLIR FCPA Action Highlights: Continued Focus on Penalizing Improper Expenditures for Government Officials

FLIR Systems, Inc. (“FLIR”), a publicly traded company based in Oregon, agreed to pay approximately $9.5 million to settle allegations of violations of the Foreign Corrupt Practices Act (“FCPA”) on April 8, 2015. The U.S....more

The Future of U.K. Enforcement of Financial Crimes: Four Clues for 2015

The legal and compliance landscape is changing quickly—it’s up to organisations that do business in the U.K. to strengthen their compliance programmes to meet these new challenges. In this whitepaper, Andrew Foose, vice...more

With No Civil Penalty, Goodyear FCPA Settlement Highlights Benefits of Cooperation and Remedial Actions

The Securities & Exchange Commission (“SEC”) announced last week that it charged The Goodyear Tire & Rubber Company (“Goodyear”) with violating the Foreign Corrupt Practices Act (“FCPA”), and that Goodyear agreed to pay more...more

Changes To Veteran Self-Identification And Reporting

The Veterans' Employment and Training Service (VETS), who is responsible for the VETS-4212 form, indicated that the reason for this change was that when veterans were counted by specific veteran category, it was difficult to...more

OFCCP Posts Two New FAQs on Veteran Self-Identification and the VETS-4212 Form

On October 27, 2014, a new reporting form for veterans, the VETS 4212 reporting form, replaced the VETS-100A and VETS-100 Forms. In response to inquiries about contractors’ new requirements as a result of this chance, on...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

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

2014 FERC Enforcement Report Emphasizes Internal Compliance Procedures, Self-Reporting, and Importance of Cooperation

The Federal Energy Regulatory Commission’s (FERC) Office of Enforcement (Enforcement) 2014 Report on Enforcement (Report), issued on November 20, 2014, provides an overview of and statistics regarding FERC’s enforcement...more

DOJ and SEC Officials Focus on Enforcement, Self-Reporting and Compliance at International FCPA Conference

From November 18 to 19, 2014, the American Conference Institute held its annual U.S. Foreign Corrupt Practices Act (FCPA) conference outside of Washington, D.C. Keynote speakers including U.S. Department of Justice (DOJ)...more

Chamber of Commerce: Corporations Form the Cornerstone of FCPA Compliance

Recently one of the most unlikely sources for praise of the Foreign Corrupt Practices Act (FCPA) came out to inform us all that corporations are the cornerstone of FCPA compliance and enforcement. You may be surprised to find...more

Timeline For A Work Injury

A problem we see a lot of is when a worker gets hurt at work, tells his boss like he’s supposed to but is told to give it a day or two before he goes to the company nurse or to the doctor. Another problem we see a lot is...more

The definitive guide to Corporate Self Reporting

We have aggregated below the SFO guidance on Self Reporting (available on its website on a number of pages) and importantly recent comments from the Director about it. If you are considering Self Reporting as an option we...more

Top 4 Benefits of Self-Reporting FCPA Violations

Violations of the U.S. Foreign Corrupt Practice Act (FCPA) can lead to significant fines and serious consequences, leaving many to wonder why an organization would opt to voluntarily disclose violations. This is exactly what...more

A New Special Tax Adjustment Monitoring And Administrative Measure

Advanced Alert and Voluntary Tax Adjustment - The SAT released a short bulletin named "The Announcement on Issues Related to Special Tax Adjustment Monitoring and Administration" (SAT Bulletin [2014] No. 54 Bulletin...more

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