Are your product records a blessing or a scourge? Are they a core element of successful business operations, or a diversion of time and resources? ...more
On April 4, 2013, the Supreme Court of the State of Delaware in Pyott v. La. Municipal Police Employees' Retirement System reversed the trial court's opinion and held that a final judgment in a California federal court...more
You can always count on the FCPA paparazzi. When things are quiet in the FCPA world, they will take a mountain and turn it into a molehill. They have nothing better to write about; they have nothing better to focus on then...more
In this letter opinion, the Court of Chancery granted a motion to intervene by certain shareholders (the “Proposed Intervenors”) of Freeport-McMoRan Copper & Gold Inc. (“Freeport”) and approved the Proposed Intervenors’...more
Who does it apply to: In this edition, it varies according to the requirements of the particular law identified below. I am taking a short two-part break from my regular format to bring you the record keeping requirements...more
Ed. Note-David Simon is a partner at Foley and Lardner and Bill Athanas is a partner at Waller Lansden Dortch & Davis, LLP. Both have practices which include FCPA compliance. After my recent post on distributors under the...more
In This Issue: - FCPA Due Diligence is Critical to Avoid Successor Liability in Cross-Border Transactions - China’s Merger Control Rules...more
This promises to be an eventful year in securities and corporate governance litigation. A number of looming developments have the potential to change the landscape for many years to come. This is the first of two posts – or...more
If there was ever a question that distributors were covered under the Foreign Corrupt Practices Act (FCPA), in 2012, the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) made it emphatically clear that...more
Last month brought us this story from Reuters, in which we learned that the SEC “has become more aggressive in seeking full hard drives from the companies and individuals it investigates, startling defense lawyers who...more
Doing something ‘by the book’ means more than following a process. It means following that process during high stress times. One of the things that I think gets missed when discussing compliance programs is the need for rigor...more
Amendments aim to improve enforcement of Canadian foreign corruption law by expanding jurisdiction, creating a books and records offense, eliminating the facilitation payments exception, redefining "business" and enforcement...more
In the wake of recent anti-corruption cases brought against two Canadian companies, the Government of Canada has signaled its continuing commitment to fight foreign corruption by proposing significant amendments to the...more
Within days of successfully imposing a fine in the amount of $10.3 million against Griffiths Energy pursuant to the Canadian Corruption of Foreign Public Officials Act (CFPOA), the Canadian government announced on February 5,...more
Ed. Note-this week there was a-buzz from North of the Border where it was announced that Canada was considering amendments to strengthen the Canadian anti-corruption law, the Corruptions of Public Officials Act. I ask John...more
Following the announced amendments to Canada’s Corruption of Foreign Public Officials Act (CFPOA), which we wrote about here, there are changes that will likely bring more scrutiny for Canadians and Canadian businesses...more
When Judge Sporkin, the father of the FCPA, assisted Senator William Proxmire in the drafting of the FCPA, he advised Senator Proxmire that a “books and records” provision was all that was needed to address the problem of...more
On February 5, 2013, the government of Canada announced important amendments to the Corruption of Foreign Public Officials Act (CFPOA). It is expected that the amendments, which are being introduced in the Senate, will be...more
On December 17, 2012, the Securities and Exchange Commission (“SEC”) announced a settlement under the U.S. Foreign Corrupt Practices Act (“FCPA”) with Allianz SE (“Allianz”), the insurance company based in Germany, resulting...more
On December 17th, the SEC brought a settled administrative FCPA action against Allianz SE, a German insurance company with a subsidiary in Indonesia. The order does not allege violations of the FCPA’s antibribery provisions,...more
On December 17, 2012, the Securities and Exchange Commission ("SEC") announced that Allianz SE ("Allianz"), a German-based insurance and asset management company, had agreed to pay approximately $12.3 million to settle...more
As we discussed last month, the SEC’s Asset Management Unit has developed a likeness for not just big, headline-grabbing cases, but relatively small compliance-based cases that are designed to prevent minor problems from...more
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