In a recently published memorandum, Deputy Attorney General (DAG) Lisa Monaco announced important updates to the U.S. Department of Justice’s (DOJ’s) approach to investigating and prosecuting corporate crimes. In the...more
On December 6, 2021, the White House released "United States Strategy on Countering Corruption" (the Strategy Paper), which outlines the Biden administration's focus on fighting corruption as a core national security interest...more
In one of the first substantive speeches on corporate criminal enforcement under the Biden administration, Deputy Attorney General Lisa Monaco announced on October 28, 2021, several immediate changes to Department of Justice...more
11/3/2021
/ Compliance ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Internal Controls ,
Internal Investigations ,
Non-Prosecution Agreements ,
Risk Assessment ,
White Collar Crimes
On July 3, 2020, the U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC) jointly released the second edition of the “Resource Guide to the U.S. Foreign Corrupt Practices Act,” which was...more
7/17/2020
/ Accounting Controls ,
Acquisitions ,
Co-Conspirators ,
Compliance ,
Conspiracies ,
Department of Justice (DOJ) ,
Disgorgement ,
Due Diligence ,
FCPA Resource Guide ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Instrumentality ,
Intent ,
Meals-Gifts-and Entertainment Rules ,
Mergers ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Third Party Payments ,
Travel
Addressing the Evolving Risks -
Warren Buffett said that “only when the tide goes out do you discover who’s been swimming naked.” Buffett was not talking about compliance programs in a time of crisis, but his wisdom applies...more
5/2/2020
/ Anti-Corruption ,
Anti-Money Laundering ,
BSA/AML ,
Compliance ,
Coronavirus/COVID-19 ,
Corporate Misconduct ,
Cybersecurity ,
Disclosure Requirements ,
Economic Sanctions ,
Enforcement Actions ,
FFIEC ,
Financial Distress ,
Financial Fraud ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
Market Manipulation ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Public Health Emergency ,
Publicly-Traded Companies ,
Risk Assessment ,
Risk Mitigation ,
Sanction Violations ,
Securities and Exchange Commission (SEC)
On December 6, 2019, Telefonaktiebolaget LM Ericsson (Ericsson or the Company), resolved long-running investigations by the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC) into the...more
1/3/2020
/ Anti-Bribery ,
Books & Records ,
Bribery ,
Calculation of Penalties ,
Compliance ,
Cooperation Agreement ,
Corporate Investigations ,
Corporate Misconduct ,
Corporate Monitoring ,
Corruption ,
Criminal Conspiracy ,
Criminal Investigations ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Actions ,
Ericsson ,
Failure to Comply ,
Fines ,
Foreign Corrupt Practices Act (FCPA) ,
Guilty Pleas ,
Illegal Profits ,
Internal Controls ,
Penalties ,
Penalty Reductions ,
Pre-Judgment Interest ,
Public Contracts ,
Regulatory Violations ,
Remediation ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Subsidiaries ,
Telecommunications ,
Third-Party Relationships ,
White Collar Crimes
As widely anticipated, French and U.K. regulators recently published guidance detailing their expectations for corporate cooperation in enforcement investigations. Both sets of guidance demonstrate further alignment of those...more
10/30/2019
/ AFA ,
Attorney-Client Privilege ,
CJIP ,
Cooperation Agreement ,
Corporate Counsel ,
Corporate Crimes ,
Corporate Liability ,
Corporate Misconduct ,
Criminal Investigations ,
Cross-Border ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Evidence ,
Foreign Corrupt Practices Act (FCPA) ,
France ,
Individual Accountability ,
Multidistrict Litigation ,
Multinationals ,
New Guidance ,
Remediation ,
Sapin II ,
Self-Disclosure Requirements ,
Serious Fraud Office (SFO) ,
UK ,
United States ,
Work-Product Doctrine ,
Yates Memorandum
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including a review of the first year of GDPR enforcement, analysis of...more
10/3/2019
/ Anti-Money Laundering ,
Appeals ,
Blocking Statutes ,
Bribery ,
CFTC ,
China ,
CLOUD Act ,
Communication Restrictions ,
Compliance ,
Conspiracies ,
Cooperation Agreement ,
Crime (Overseas Production Orders) Act 2019 (the COPO Act) ,
Criminal Prosecution ,
Cross-Border Transactions ,
Cryptocurrency ,
Cybersecurity ,
Deferred Prosecution Agreements ,
Denial of Certiorari ,
Department of Justice (DOJ) ,
Deutsche Bank ,
Disclosure ,
Dodd-Frank ,
Economic Sanctions ,
Enforcement Actions ,
EU ,
EURIBOR ,
Exports ,
Extradition ,
Extraterritoriality Rules ,
Financial Conduct Authority (FCA) ,
Financial Records ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Exchanges ,
France ,
Fraud ,
General Data Protection Regulation (GDPR) ,
Government Investigations ,
Hackers ,
Hungary ,
Imports ,
India ,
Indictments ,
Information Sharing ,
Iran Sanctions ,
Israel ,
Lithuania ,
Money Laundering ,
Morrison v National Australia Bank ,
Multinationals ,
Office of Foreign Assets Control (OFAC) ,
Opioid ,
Pharmaceutical Industry ,
Popular ,
Rate-Rigging ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Serious Fraud Office (SFO) ,
Spoofing ,
Subpoenas ,
Swiss Supreme Court ,
Switzerland ,
Tax Crimes ,
Tax Evasion ,
Tax Treaty ,
Turkey ,
UK ,
United States ,
Venezuela ,
Wal-Mart
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including DOJ guidance on the use of corporate monitors in criminal...more
1/7/2019
/ Anti-Bribery ,
Anti-Corruption ,
Anti-Money Laundering ,
Appeals ,
Attorney-Client Privilege ,
Brazil ,
Bribery ,
BSA/AML ,
China ,
Corporate Counsel ,
Criminal Conspiracy ,
Criminal Convictions ,
Criminal Investigations ,
Cross-Border ,
Cryptocurrency ,
Cyber Attacks ,
Cybersecurity ,
Data Privacy ,
Data Protection Acts ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
Exports ,
Extraterritoriality Rules ,
FATCA ,
Financial Crimes ,
Foreign Corrupt Practices Act (FCPA) ,
Forex ,
France ,
Government Investigations ,
Guilty Pleas ,
Hackers ,
Imports ,
International Litigation ,
Iran ,
Legal Professional Privilege ,
Libor ,
Litigation Privilege ,
Market Manipulation ,
Money Laundering ,
Multi-Jurisdictional Litigation ,
Multinationals ,
NYDFS ,
Privileged Communication ,
Russia ,
Sanction Violations ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
SFO ,
Spoofing ,
Tax Fraud ,
Traders ,
UK ,
Unexplained Wealth Orders (UWOs) ,
United Arab Emirates (UAE) ,
Yates Memorandum
On November 29, 2018, in a speech at the 35th International Conference on the Foreign Corrupt Practices Act, U.S. Deputy Attorney General Rod Rosenstein announced the Department of Justice’s (DOJ or the Department) revised...more
In a decision with implications for the extraterritorial reach of the Foreign Corrupt Practices Act (FCPA), the U.S. Court of Appeals for the Second Circuit held in United States v. Hoskins that a person may not “be guilty as...more
9/4/2018
/ Aiding and Abetting ,
Appeals ,
Criminal Conspiracy ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Extraterritoriality Rules ,
Foreign Corrupt Practices Act (FCPA) ,
Non U.S. Person ,
Physical Presence Test ,
Securities and Exchange Commission (SEC)
In a speech yesterday at the 34th International Conference on the Foreign Corrupt Practices Act, U.S. Deputy Attorney General Rod Rosenstein announced the Department of Justice’s (DOJ) revised Foreign Corrupt Practices Act...more
12/1/2017
/ Compliance ,
Corporate Crimes ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Actions ,
Ethics ,
Federal Pilot Programs ,
Federal Sentencing Guidelines ,
Foreign Corrupt Practices Act (FCPA) ,
Personal Liability ,
Voluntary Disclosure
On Tuesday, April 18, 2017, Acting Principal Deputy Assistant Attorney General Trevor McFadden (the P-DAAG) spoke at the 10th Anti-Corruption, Export Controls & Sanctions Compliance Summit in Washington, D.C. After much...more
4/24/2017
/ Anti-Corruption ,
Bribery ,
Corporate Counsel ,
Criminal Penalties ,
Economic Sanctions ,
Enforcement Actions ,
Exports ,
Foreign Corporations ,
Foreign Corrupt Practices Act (FCPA) ,
Trump Administration ,
Yates Memorandum
Forecasting the enforcement priorities of the Department of Justice (DOJ) under the Trump administration is difficult at best. Previous statements from both President Donald Trump and his nominee for attorney general, U.S....more
2/2/2017
/ Attorney General ,
Banks ,
Corporate Liability ,
Corporate Misconduct ,
Criminal Prosecution ,
Deregulation ,
Dodd-Frank ,
Financial Institutions ,
Foreign Corrupt Practices Act (FCPA) ,
Personal Liability ,
Political Appointments ,
Repeal ,
Trump Administration ,
White Collar Crimes ,
Yates Memorandum
On September 20, 2016, Skadden presented a seminar titled “Government Enforcement Investigations – Trends and Perspectives from the UK, US and China” in London. The UK Financial Conduct Authority (FCA) Director of Enforcement...more
10/3/2016
/ Anti-Corruption ,
Anti-Money Laundering ,
Bribery ,
China ,
Compliance ,
Corporate Counsel ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Federal Pilot Programs ,
Financial Conduct Authority (FCA) ,
Foreign Corrupt Practices Act (FCPA) ,
Government Investigations ,
Market Abuse ,
Money Laundering ,
Popular ,
Sanctions ,
Self-Reporting ,
Serious Fraud Office (SFO) ,
Whistleblowers ,
Yates Memorandum
On April 5, 2016, the Department of Justice’s (DOJ) Fraud Section made two related announcements in its Foreign Corrupt Practices Act (FCPA) Enforcement Plan and Guidance. First, the Fraud Section announced a substantial...more
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases and enforcement trends, including developments in U.S. Foreign Corrupt Practices Act enforcement; the introduction of...more
11/4/2015
/ Accomplice Liability ,
Anti-Corruption ,
Asia ,
Attorney-Client Privilege ,
Bribery ,
China ,
Criminal Prosecution ,
Cross-Border ,
Cross-Border Transactions ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Nationals ,
Government Investigations ,
India ,
Internal Investigations ,
Libor ,
Market Manipulation ,
Non-Resident Aliens ,
OECD ,
Public Officials ,
Securities and Exchange Commission (SEC) ,
Serious Fraud Office (SFO) ,
South Korea ,
Tax Evasion ,
Thailand ,
UK ,
Whistleblower Protection Policies ,
Whistleblowers ,
Work-Product Doctrine
U.S. authorities continue to aggressively pursue cross-border investigations and to scrutinize closely the compliance programs of multinational corporations. Investigative activity by U.S. authorities in 2014 was particularly...more
1/28/2015
/ Bribery ,
Chief Compliance Officers ,
Compliance ,
Corruption ,
Cross-Border ,
Department of Justice (DOJ) ,
Foreign Corrupt Practices Act (FCPA) ,
IRS ,
Market Manipulation ,
Multinationals ,
Prudential Regulation Authority (PRA) ,
Regulatory Agencies ,
Serious Fraud Office (SFO) ,
Strategic Enforcement Plan ,
Tax Fraud
On May 16, 2014, a three-judge panel of the U.S. Court of Appeals for the Eleventh Circuit provided the first appellate court interpretation of the reach of the U.S. Foreign Corrupt Practices Act (FCPA) to conduct involving...more
Government enforcement efforts in 2013 produced major settlements of matters relating to the global financial crisis, high-profile insider trading convictions, near-record amounts of FCPA settlements, and new pledges of...more
1/29/2014
/ Compliance ,
Cross-Border ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FIRREA ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
IRS ,
Securities and Exchange Commission (SEC) ,
Settlement ,
Tax Evasion
On April 22, the U.S. Securities and Exchange Commission (SEC) announced its first non-prosecution agreement (NPA) with a company in a matter involving alleged violations of the U.S. Foreign Corrupt Practices Act (FCPA). The...more
Anti-corruption issues continue to present significant risks in acquisition and investment transactions because regulators continue robust enforcement in this area and emerging markets often present the greatest economic...more