The uptick in recent sanctions activity caused in large part by the Russian Federation’s unprovoked and unilateral invasion of Ukraine has caused absolute pandemonium in many compliance circles. While the U.S. Department of...more
In following the Justice Department and the Securities Exchange Commission FCPA enforcement actions, I am always reminded of the popular phrase — “reading the tea leaves.” (or “tasseography,” a fortune-telling method based on...more
6/8/2022
/ Anti-Corruption ,
Compliance ,
Corporate Counsel ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes
The SEC announced another FCPA settlement in 2022. FCPA enforcement, in general, is picking up.
Tenaris, a global supplier of steel pipes and related services for the energy industry, agreed to pay the SEC $78 million to...more
6/7/2022
/ Bribery ,
Civil Monetary Penalty ,
Compliance ,
Corporate Counsel ,
Corruption ,
Disgorgement ,
Energy Sector ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Petrobras ,
Prejudgment Interest ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
White Collar Crimes
The Justice Department has resumed FCPA enforcement with a bang. The new enforcement approach has been unveiled and the message for CCOs and corporate business leaders is clear — anti-corruption compliance should be a...more
6/6/2022
/ Anti-Corruption ,
Compliance ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Ethics ,
Foreign Corrupt Practices Act (FCPA) ,
Settlement Agreements ,
Spoofing ,
White Collar Crimes
Glencore’s settlement with DOJ and the CFTC revealed a plethora of manipulative, deceptive and corrupt conduct, which spanned from at least 2007 to 2018 and occurred in the United States and global oil markets, including...more
6/3/2022
/ CFTC ,
Commodities ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Derivatives ,
Enforcement Actions ,
Fraud ,
Market Manipulation ,
Oil & Gas ,
White Collar Crimes
The broad and pervasive scope of Glencore’s bribery conduct is obvious. The scope of its misconduct reflects Glencore’s fatal culture and commitment to profits at any and all cost. Glencore’s board and senior executive team...more
The Justice Department has been promising a new, more aggressive approach to FCPA enforcement. DOJ officials have made statements to that effect on numerous occasions. The Biden Administration touted its elevation of the...more
In a long-anticipated and major enforcement action, the Justice Department and the Commodities and Futures Exchange Commission resolved a sprawling investigation with Glencore International A.G. and Glencore Ltd, a...more
5/27/2022
/ Bribery ,
CFTC ,
Commodities ,
Compliance ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Guilty Pleas ,
Market Manipulation ,
Mining ,
White Collar Crimes
The evolution in the global economy is raising challenges for anti-corruption compliance. In response to economic dislocations and disruptions stemming from the COVID-19 pandemic and Russian invasion of Ukraine, businesses...more
5/26/2022
/ Anti-Corruption ,
Bribery ,
Compliance ,
Corruption ,
Ethics ,
Exports ,
Global Market ,
Imports ,
Military Conflict ,
Russia ,
Supply Chain ,
Ukraine ,
White Collar Crimes
Compliance professionals are always looking for ways to collaborate and support internal business partners. Through the years, compliance professionals have devoted significant energy to building partnerships with the...more
5/17/2022
/ Compliance ,
Coronavirus/COVID-19 ,
Corruption ,
Foreign Corrupt Practices Act (FCPA) ,
Infectious Diseases ,
Military Conflict ,
Risk Management ,
Russia ,
Supply Chain ,
Third-Party Risk ,
Ukraine ,
White Collar Crimes
Hold onto your hats – while we are on the cusp of more FCPA enforcement actions, the Justice Department and OFAC are gearing up for real and significant sanctions enforcement actions. The dye is cast, so here we go. ...more
5/11/2022
/ Compliance ,
Corruption ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Export Controls ,
FCPA Guidance ,
Foreign Agents Registration Act (FARA) ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Policy ,
Military Conflict ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Violations ,
Russia ,
Ukraine ,
White Collar Crimes
Prosecuting white collar crimes is a “mind game” in more ways than one. This is another in my long series of profound grasps of the obvious. -
As a former federal prosecutor, the difference between a crime and compliant...more
In the FCPA and white collar defense community, we have seen buckets and buckets of ink spilled on the coming wave of aggressive enforcement. Justice Department officials have made so many statements about the “new” approach...more
5/9/2022
/ Anti-Corruption ,
Bribery ,
Compliance ,
Corporate Counsel ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
White Collar Crimes
As part of the United States governments effort to support Ukraine in its war against Russia, the Biden Administration sent to Congress a number of legislative proposals in addition to a supplemental request for an additional...more
5/5/2022
/ Biden Administration ,
Corruption ,
Enforcement Actions ,
Financial Crimes ,
Forfeiture ,
Forfeiture Statutes ,
Military Conflict ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Reform ,
RICO ,
Russia ,
Ukraine ,
White Collar Crimes
You have to wonder how OFAC has the time to investigate and settle cases given its significant work implementing the Russia Sanctions Program. But OFAC continues to demonstrate its commitment to aggressive enforcement. ...more
5/3/2022
/ Compliance ,
Corruption ,
Economic Sanctions ,
Enforcement Actions ,
Failure to Comply ,
Freight Forwarding ,
Goods or Services ,
Internal Controls ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions ,
Sanction Violations ,
SDN List ,
Settlement Agreements
Even while the Treasury Department’s Office of Foreign Asset Control (“OFAC”) has been properly focused on implementing and enforcing the Russia sanctions scheme in response to Russia’s unprovoked invasion of Ukraine, OFAC...more
The Stericycle FCPA case is yet another example of a complete culture and compliance breakdown. As I often repeat myself, there is no more important control than an ethical culture. When a culture veers into the unethical...more
The Justice Department ended its FCPA enforcement drought by announcing its first corporate settlement in 2022. In a parallel action, the SEC announced its settlement with Stericycle for $28 million for FCPA violations. The...more
The Justice Department’s Antitrust Division has suffered setbacks in recent months. Prior to these recent cases, DOJ’s Antitrust Division secured some significant trial victories, including Bumble Bee’s former CEO Chris...more
4/20/2022
/ Antitrust Division ,
Antitrust Violations ,
Bumble Bee Foods ,
Corruption ,
Criminal Conspiracy ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Meat Processing Plants ,
Price-Fixing ,
Wage-Fixing ,
White Collar Crimes
The Office of Foreign Asset Control’s designation of an entity as a Specially Designated National (SDN) is the “kiss of death.” Such designation not only has a direct impact on an SDN’s ability to engage in business but has...more
The Antitrust Division’s Assistant Attorney General Jonathan Kanter promised a new era in antitrust enforcement. He won bi-partisan support from both Republicans and Democrats. Across the antitrust field, he promised...more
The Biden Administration’s Department of Justice has promised aggressive white collar enforcement. On the flip side, the DOJ has recognized the importance of effective ethics and compliance programs. In an interesting...more
Well, we all know the familiar repetitive life experiences from the movie Groundhog Day, or as I like to say it, Déjà vu All Over Again. DOJ emphasizes over and over the importance of prosecuting individuals for criminal...more
The Justice Department continues its enforcement “silence” with no major corporate prosecutions announced this year. It is an interesting question but it appears that the wheels have ground to a halt, with one major...more
4/4/2022
/ Bribery ,
Compliance ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Actions ,
FCPA Corporate Enforcement Policy (CEP) ,
Foreign Corrupt Practices Act (FCPA) ,
Serious Fraud Office (SFO) ,
White Collar Crimes
The Department of Justice criminal prosecution of Mark Forkner, chief technical pilot at Boeing responsible for the 737 Max, ended in quick acquittal. DOJ prosecutors suffered an embarrassing loss in an attempt to hold...more
3/29/2022
/ Acquittals ,
Aircraft ,
Airplane Accidents ,
Aviation Industry ,
Boeing ,
Corporate Culture ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Employee Misconduct ,
Federal Aviation Administration (FAA) ,
Jury Trial ,
Wire Fraud