On February 10 President Trump issued an Executive Order, Pausing Foreign Corrupt Practices Act Enforcement to Further American Economic and National Security, signaling a shift in U.S. enforcement priorities regarding...more
The risks for international investments have sharply expanded in recent years. Identifying, managing, and mitigating investment risk, in the current regulatory environment, can be just as essential as managing risk in any...more
8/2/2024
/ Acquisitions ,
Anti-Corruption ,
Anti-Dumping Duty ,
Anti-Money Laundering ,
Antitrust Provisions ,
CFIUS ,
Compliance ,
Countervailing Duties ,
Due Diligence ,
ECCNs ,
Employee Training ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Corrupt Practices Act (FCPA) ,
Imports ,
Mergers ,
Military Service Members ,
Multinationals ,
Supply Chain ,
Tariffs ,
Uyghur Forced Labor Prevention Act (UFLPA)
We have received several requests to publish a list of red flags pertinent to multinational organizations. To accommodate these requests, we are publishing a three-part series on anticorruption, export controls and economic...more
3/7/2024
/ Anti-Corruption ,
Antiboycott Requirements ,
Billing ,
Compliance ,
Economic Sanctions ,
Enforcement ,
Ethical Standards ,
Export Controls ,
Foreign Corrupt Practices Act (FCPA) ,
Multinationals ,
Recordkeeping Requirements ,
Reputation Management ,
Risk Assessment ,
Risk Mitigation
We have received several requests for a list of the compliance policies that make sense for every multinational company. So, as a follow-up to our earlier two posts providing “twelve steps to international compliance” (see...more
1/4/2024
/ Anti-Corruption ,
Anti-Discrimination Policies ,
Anti-Harassment Policies ,
Anti-Retaliation Provisions ,
Antitrust Provisions ,
Books & Records ,
Code of Conduct ,
Compliance ,
Conflicts of Interest ,
Copyright ,
Customs ,
Cybersecurity ,
Data Protection ,
Document Retention Policies ,
Economic Sanctions ,
Ethics ,
Export Controls ,
Family and Medical Leave Act (FMLA) ,
Forced Labor ,
Foreign Corrupt Practices Act (FCPA) ,
Human Trafficking ,
Imports ,
Insider Trading ,
Internal Controls ,
Litigation Hold ,
Multinationals ,
Popular ,
Privacy Laws ,
Risk Mitigation ,
Social Media ,
Supply Chain ,
Trademarks ,
Uyghur Forced Labor Prevention Act (UFLPA)
In our prior update (published November 29), we provided the first five steps in our twelve-step program for international compliance. These steps are intended to help companies identify international regulatory risk inherent...more
12/14/2023
/ Antiboycott Requirements ,
Audits ,
Compliance ,
Customs ,
Economic Sanctions ,
Export Controls ,
Foreign Corrupt Practices Act (FCPA) ,
Internal Controls ,
Policies and Procedures ,
Risk Assessment ,
SDN List ,
Supply Chain ,
Third-Party ,
Training
Happy Thanksgiving! As anyone who saw our Halloween International Trade Update is aware, we are all in favor of alternative ways to get out our international regulatory compliance message. So, who better to aid in our...more
Did you know that whistleblowers can use the False Claims Act to get the U.S. Government to investigate allegations of lost revenue to the U.S. Treasury, including underpaid Customs tariffs? A large importer recently found...more
11/17/2023
/ Anti-Discrimination Policies ,
CAATSA ,
Compliance ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement ,
Export Controls ,
False Claims Act (FCA) ,
Forced Labor ,
Foreign Corrupt Practices Act (FCPA) ,
Human Trafficking ,
Importers ,
International Trade ,
Revenue ,
Russia ,
Whistleblowers
A veritable grab bag of international trade developments to parse this week. Recent developments include increasing FCPA enforcement, a record OFAC economic sanctions penalty, and a large customs penalty for willful failure...more
10/26/2023
/ Anti-Money Laundering ,
Audits ,
Compliance ,
Customs ,
Duties ,
Economic Sanctions ,
Enforcement ,
Financial Institutions ,
Foreign Corrupt Practices Act (FCPA) ,
International Trade ,
Misclassification ,
Office of Foreign Assets Control (OFAC) ,
Penalties ,
Valuation
Recent developments include significant antitrust penalties, the issuance of CBP compliance guidance regarding the Uyghur Forced Labor Prevention Act, increasing emphasis on economic sanctions, “the new FCPA,” and the...more
5/25/2023
/ Anti-Corruption ,
Anti-Dumping Duty ,
Compliance ,
Cross Border Privacy Rules (CBPR) ,
Economic Sanctions ,
Enforcement ,
Export Controls ,
Foreign Corrupt Practices Act (FCPA) ,
International Trade ,
Non-Compete Agreements ,
Uyghur Forced Labor Prevention Act (UFLPA)
In 2022, automotive suppliers face many of the same issues that have bedeviled the industry throughout 2021, as well as a host of all-new challenges. Unfortunately, as with many aspects of pre-pandemic life, the relative...more
3/17/2022
/ Automotive Industry ,
Biden Administration ,
Coronavirus/COVID-19 ,
Corruption ,
Department of Justice (DOJ) ,
Department of Transportation (DOT) ,
Electric Vehicles ,
Federal Trade Commission (FTC) ,
Final Rules ,
Foreign Corrupt Practices Act (FCPA) ,
Hart-Scott-Rodino Act ,
IMMEX ,
Infrastructure Investment and Jobs Act (IIJA) ,
Mexico ,
Motor Vehicles ,
National Security ,
NHTSA ,
Notice of Proposed Rulemaking (NOPR) ,
OEM ,
Office of Foreign Assets Control (OFAC) ,
OMB ,
Supply Chain ,
Supply Shortages ,
U.S. Treasury ,
Vertical Mergers
...Think your company and its employees are beyond the reach of U.S. authorities? Maybe you don’t have U.S. operations there, or your company isn’t publicly traded on a U.S. stock exchange. Perhaps you don’t directly sell or...more
6/2/2020
/ Anti-Bribery ,
Anti-Competitive ,
Antitrust Violations ,
Business Operations ,
Conspiracies ,
Copyright ,
Department of Justice (DOJ) ,
Enforcement ,
Exports ,
Federal Trade Commission (FTC) ,
Foreign Corrupt Practices Act (FCPA) ,
Imports ,
International Trade Commission (ITC) ,
Jurisdiction ,
Office of Foreign Assets Control (OFAC) ,
Patents ,
Sherman Act ,
Trademarks
Over the last three years, the current administration has imposed the largest export controls penalty, the second-largest economic sanctions penalty, and four of the ten largest anti-bribery penalties of all time, signaling...more
With the Trump administration having put in place the largest export controls penalty of all time, the second-largest economic sanctions/OFAC penalty, and five of the ten largest FCPA penalties, international regulatory risk...more
6/13/2019
/ Chief Compliance Officers ,
Compliance ,
Due Diligence ,
Enforcement ,
Export Administration Regulations (EAR) ,
Foreign Corrupt Practices Act (FCPA) ,
International Trade ,
Multinationals ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Standards ,
Risk Management ,
Supply Chain
Welcome to Foley’s new Automotive MarketTrends newsletter. In each edition, we will focus on a different aspect of the automotive sector and highlight key trends in the industry. The global automotive industry is experiencing...more
We are now two years into the current presidential administration and regulators have imposed three of the ten largest Foreign Corrupt Practices Act penalties in history and the largest export controls penalty of all time....more
2/26/2019
/ Anti-Corruption ,
Antitrust Provisions ,
Audits ,
Automotive Industry ,
Compliance ,
Department of Justice (DOJ) ,
Export Controls ,
Exports ,
FBI ,
Foreign Corrupt Practices Act (FCPA) ,
Internal Controls ,
Multinationals ,
Risk Assessment ,
Risk Management ,
Supply Chain
Given the pace of change in the automotive space and related technologies, combined with increasing regulatory scrutiny and recent developments in trade and M&A, the global automotive industry can anticipate several risks and...more
1/23/2019
/ Acquisitions ,
Antitrust Violations ,
Automotive Industry ,
Cybersecurity ,
Employer Liability Issues ,
Foreign Corrupt Practices Act (FCPA) ,
Intellectual Property Protection ,
International Labor Laws ,
Manufacturers ,
Mergers ,
NAFTA ,
NHTSA ,
Supply Chain ,
Tariffs ,
Trade Relations ,
Transportation Industry ,
Trump Administration ,
United States-Mexico-Canada Agreement (USMCA)
Regulators within the Trump administration have sent a loud message that should concern all multinational automotive companies: laws governing international activities continue to be the subject of intense enforcement...more
5/25/2018
/ Anti-Corruption ,
Automotive Industry ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Extraterritoriality Rules ,
Foreign Corporations ,
Foreign Corrupt Practices Act (FCPA) ,
ITAR ,
Joint Comprehensive Plan of Action (JCPOA) ,
Office of Foreign Assets Control (OFAC) ,
Risk Assessment ,
Risk Management ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Supply Chain ,
Trade Policy ,
Trump Administration
On May 9, 2018, the U.S. Department of Justice (DOJ) announced a policy related to resolutions of criminal and civil corporate enforcement. The new “Policy on Coordination of Corporate Resolution Penalties” was issued by...more
Over the last month, regulators with the Trump administration sent a loud message to companies subject to U.S. jurisdiction: Enforcement of laws governing international activities is alive and well and the laws will continue...more
5/14/2018
/ Anti-Corruption ,
Antiboycott Requirements ,
Bribery ,
CEOs ,
CFIUS ,
Chief Compliance Officers ,
Code of Conduct ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Subsidiaries ,
Internal Audit Functions ,
Internal Controls ,
ITAR ,
Risk Assessment ,
Risk Management ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Trump Administration
An open question coming into 2017 was whether the aggressive enforcement posture that had characterized the Obama and Bush administrations would continue under the Trump administration. Any questions were answered with the...more
3/19/2018
/ Anti-Bribery ,
Anti-Corruption ,
Automotive Industry ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement Actions ,
Exports ,
Extraterritoriality Rules ,
Foreign Corrupt Practices Act (FCPA) ,
Joint Comprehensive Plan of Action (JCPOA) ,
Manufacturers ,
Multinationals ,
NAFTA ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Sanctions ,
Tariffs ,
Trade Policy ,
Trump Administration
Since mid-2000s investigation of Siemens, and the resulting $800 million penalty for violations of the Foreign Corrupt Practices Act (FCPA), the FCPA has been an enforcement priority of the U.S. Government. Although a dip in...more
5/12/2017
/ Anti-Bribery ,
Anti-Corruption ,
Anti-Money Laundering ,
Bribery ,
Compliance ,
Corporate Crimes ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Enforcement Actions ,
Federal Pilot Programs ,
Foreign Corrupt Practices Act (FCPA) ,
ISO ,
ISO 37001 ,
Regulatory Agencies ,
Securities and Exchange Commission (SEC) ,
Trump Administration ,
Whistleblower Protection Policies ,
Yates Memorandum
The election of President Trump contained some positive signs for Private Equity (PE) fund managers. These included potential lower corporate taxes, a ten-percent tax holiday for funds parked overseas, large infrastructure...more
4/15/2017
/ Anti-Money Laundering ,
Antitrust Violations ,
CFIUS ,
Criminal Penalties ,
Cybersecurity ,
Dodd-Frank ,
Economic Sanctions ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Foreign Corrupt Practices Act (FCPA) ,
Fund Managers ,
NAFTA ,
Office of Foreign Assets Control (OFAC) ,
Personal Liability ,
Portfolio Companies ,
Privacy Laws ,
Private Equity ,
Risk Assessment ,
Supply Chain ,
Trump Administration ,
Whistleblowers ,
Yates Memorandum
The election of President Trump contained more than a few positive signs for Private Equity (PE) firms. Promises of a lower corporate tax environment, a ten-percent tax holiday for funds parked overseas, large infrastructure...more
3/6/2017
/ Anti-Money Laundering ,
Antitrust Violations ,
CFIUS ,
Corporate Taxes ,
Cybersecurity ,
Data Privacy ,
Dodd-Frank ,
Due Diligence ,
Export Administration Regulations (EAR) ,
Export Controls ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Investment ,
ITAR ,
NAFTA ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Portfolio Companies ,
Private Equity ,
Repeal ,
Risk Assessment ,
Risk Mitigation ,
Trump Administration ,
Whistleblowers
The Trump administration has vowed to bring jobs back to the states. One of the methods it appears it’ll take advantage of is continued, aggressive enforcement of U.S. laws governing exports and international conduct....more
3/1/2017
/ Automotive Industry ,
Economic Sanctions ,
Enforcement Actions ,
Export Controls ,
Extraterritoriality Rules ,
False Claims Act (FCA) ,
Foreign Corrupt Practices Act (FCPA) ,
Free Trade Agreements ,
Job Creation ,
Office of Foreign Assets Control (OFAC) ,
Publicly-Traded Companies ,
Supply Chain ,
Trade Policy ,
Trump Administration
Enforcement activity under the Obama administration often made headlines for the eye-popping level of fines, with the Foreign Corrupt Practices Act (FCPA), Anti-Money Laundering (AML) regulations, and economic sanctions...more
2/11/2017
/ Affordable Care Act ,
Anti-Corruption ,
Anti-Money Laundering ,
Attorney General ,
Bribery ,
CFIUS ,
Civil Monetary Penalty ,
Compliance ,
Corporate Crimes ,
Corporate Misconduct ,
Criminal Penalties ,
Criminal Prosecution ,
Cybersecurity ,
Cybersecurity Information Sharing Act (CISA) ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Dual Use Goods ,
Economic Sanctions ,
Employee Training ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Extraterritoriality Rules ,
False Claims Act (FCA) ,
FBI ,
Financial Fraud ,
Foreign Corrupt Practices Act (FCPA) ,
Healthcare Fraud ,
Internal Audit Functions ,
Internal Controls ,
ITAR ,
Multinationals ,
NAFTA ,
Office of Foreign Assets Control (OFAC) ,
Political Appointments ,
Risk Management ,
Risk Mitigation ,
Securities and Exchange Commission (SEC) ,
Terrorist Financing Regulations ,
Trump Administration ,
U.S. Commerce Department ,
Whistleblower Awards ,
White Collar Crimes ,
Yates Memorandum