FCPA Compliance and Ethics Report-Episode 19 with Barry Vitou on Bribery Act Updates
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
In typical Chinese fashion, the prosecution of GSK and several GSK executives ended after a one-day “trial.” GSK paid a $489 million fine; and four criminal sentences were handed out with suspension of jail time and orders of...more
Whatever you might think of where his career went, Elton John had some great early stuff. I still rank Tumbleweed Connection right up there as one of my favorite albums of all-time. And while it was packed with some great...more
The Bribery Act 2010 has now been in force for three years. Despite the announcements and commentary that it heralded a new and aggressive face toward corporate corruption, there have as yet been no corporate prosecutions...more
The UK Serious Frauds Office (SFO) recently won its first overseas corruption victory convicting two individuals of a conspiracy to commit corruption. The case originally began six years ago with a referral by the U.S....more
A D.C. Circuit decision (In re Kellogg Brown & Root, Inc.) has confirmed privilege over employee statements during in-house investigations. Can the world take comfort? This article examines privilege in the context of...more
The U.K.’s Serious Frauds Office prevailed in its first overseas corruption trial, securing a jury verdict in its favor and against two former Innospec executives. The case stems from a referral by the DOJ following FCPA...more
Deferred prosecution agreements (DPAs) are a relatively new law-enforcement tool in the UK, only becoming effective this past February under the Crime & Courts Act 2013.
In the opening of his speech at the Annual...more
High speed trading and insider trading were key topics this week. Author Michael Lewis released a new book on high speed trading and, in an interview claimed the markets are “rigged.” The Commission focused on insider...more
On 24 February 2014, UK prosecutors gained the ability to use deferred prosecution agreements (DPAs) in corporate crime cases. This followed the publication on 31 January 2014 of a Definitive Guideline for the sentencing of...more
A proposed amendment to the UK Bribery Act would give the SFO greater power to prosecute corporates for financial crimes committed by their employees.
The head of the UK’s Serious Fraud Office (SFO), David Green,...more
From today, Deferred Prosecution Agreements (“DPA”s) will be available in the UK to the Serious Fraud Office (“SFO”) and the Crown Prosecution Service (“CPS”) as a method for disposal of corporate criminal cases relating to...more
When there is the suspicion of wrongdoing, it is common practice for companies to carry out an investigation by commissioning reports, whether internally or with the outside assistance of lawyers or other professionals. If...more
The trial of Victor Dahdaleh in London has collapsed due to the absence of key prosecution witnesses.
The UK’s Serious Fraud Office (SFO) recently dropped its case against Victor Dahdaleh, the British-Canadian...more
The UK’s Serious Fraud Office (SFO) is launching an investigation into whether claims of corruption by a former Rolls-Royce employee have any merit. Among the allegations is the assertion that Rolls-Royce gave Tommy Suharto,...more
As noted in our previous Alert in September 2013, the UK Crime and Courts Act 2013 has now come into effect this month making deferred prosecution agreements (DPAs) available to the Director of the Serious Fraud Office (SFO)...more
Beginning in February 2014, the agreements may be used as a sentencing tool for corporate bribery, fraud, and other economic crimes.
Under the UK Crime and Courts Act 2013, which received royal assent in April,...more
According to the New York Times, the Securities and Exchange Commission (“SEC”) is investigating potential bribery issues stemming from alleged abuses in JPMorgan’s “Sons and Daughters” hiring program in China. As reported in...more
The UK Serious Fraud Office (SFO) has updated a webpage on its case relating to Sustainable Agroenergy plc and Sustainable Wealth Investments UK Ltd. These are the first charges to be brought by the SFO under the Bribery Act....more
FDIC Guidance on Deposit Advance Products -
On November 21, the FDIC issued final supervisory guidance to FDIC-supervised financial institutions with respect to the risks imposed by certain deposit advance products. ...more
On November 20, 2013, during a panel presentation at the 30th International Conference on the Foreign Corrupt Practices Act (“FCPA”), current and former prosecutors from the United States and the United Kingdom discussed the...more
The UK’s Serious Fraud Office has made clear that its anti-bribery investigations are focussed on two industries in particular: construction and energy. Construction firms especially are under-prepared for the risks which...more
On October 7, the Secretary of State for the Home Department in the UK released a policy paper entitled, Serious and Organized Crime Strategy, in which the Secretary discussed the government’s strategy towards combating...more
SFO’s director’s recent speech outlines enforcement of the Bribery Act and developments related to self-reporting, the possible extension of the corporate offence, and prosecutions.
On 24 October, David Green, director...more
One of the most dreaded questions in any Foreign Corrupt Practices Act (FCPA) investigation is: Where Else? By this I mean that if you have a systemic failure of internal controls in one geographic area it may well be that...more
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