On December 22, 2023, President Biden signed into law the Foreign Extortion Prevention Act (FEPA) as part of the fiscal year 2024 National Defense Authorization Act. FEPA criminalizes demand-side bribery by foreign officials...more
1/9/2024
/ Anti-Corruption ,
Anti-Money Laundering ,
Bribery ,
Corruption ,
Extortion ,
FEPA ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Hobbs Act ,
NDAA ,
White Collar Crimes
In a speech on October 24, 2023, the director of the Securities and Exchange Commission’s (SEC’s) Enforcement Division, Gurbir Grewal, described the scenarios in which the commission would bring an enforcement action against...more
In early March 2023, the Department of Justice (DOJ) released several important updates to its policies related to corporate crime enforcement and compliance programs. We discuss below the following key topics:
(i) The DOJ...more
3/13/2023
/ Corporate Crimes ,
Corporate Entities ,
Corporate Financing ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Employees ,
Executive Compensation ,
Financial Institutions ,
Instant Messaging Apps ,
Mobile Devices ,
Pilot Programs ,
White Collar Crimes
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
While enforcement agencies have yet to indicate that they intend to put their pens down in response to COVID-19, there is anecdotal evidence that some agencies have slowed their investigations as remote working impacts matter...more
3/31/2020
/ Anti-Corruption ,
Anti-Money Laundering ,
CFTC ,
Compliance ,
Coronavirus/COVID-19 ,
Debt Market ,
Disruptive Trading Practices ,
Economic Sanctions ,
Enforcement Actions ,
Equity Markets ,
Financial Conduct Authority (FCA) ,
France ,
Market Abuse ,
Risk Management ,
Social Distancing ,
Tax Evasion ,
UK Bribery Act ,
White Collar Crimes
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
On March 8, 2019, the U.S. Department of Justice announced an important change to its Foreign Corrupt Practices Act (FCPA) Corporate Enforcement Policy concerning one of the conditions — “appropriate retention of business...more
3/22/2019
/ Amended Rules ,
Business Records ,
Commercial Electronic Messages ,
Communication Restrictions ,
Compliance ,
Cooperation ,
Corporate Counsel ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
Discovery ,
Document Retention Policies ,
Electronically Stored Information ,
Employee Training ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Government Investigations ,
Mobile Apps ,
Multinationals ,
Record Retention ,
Remediation ,
Snapchat ,
Software ,
WhatsApp ,
White Collar Crimes
In a time of shifting opinions on the benefits of globalization, China’s “One Belt, One Road” initiative (OBOR) offers an unexpected bright spot for multinational companies able and willing to participate in this...more
9/20/2017
/ Anti-Corruption ,
Anti-Money Laundering ,
Asia Pacific ,
China ,
Compliance ,
Cooperation ,
Cross-Border Transactions ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Investment ,
Globalization ,
Government Investigations ,
Hong Kong ,
Hong Kong Monetary Authority (HKMA) ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Individual Accountability ,
Infrastructure Financing ,
Market Manipulation ,
Memorandum of Understanding ,
Multi-Jurisdictional Litigation ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Transportation Industry ,
White Collar Crimes ,
Yates Memorandum
Recent U.S. Department of Justice (DOJ) policies on corporate crime prosecutions, coupled with the Chinese government’s robust anti-corruption campaign, are proving challenging for U.S. corporations with business operations...more
7/5/2016
/ Accounting ,
Anti-Bribery ,
Anti-Corruption ,
China ,
Corporate Counsel ,
Corporate Crimes ,
Cross-Border ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
GlaxoSmithKline ,
Government Investigations ,
Multinationals ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes ,
Yates Memorandum