Subject to Inquiry

Subject to Inquiry

THE LATEST ON GOVERNMENT INQUIRIES AND ENFORCEMENT ACTIONS

Government Investigations and White Collar Litigation Group

Tag Archives: Foreign Corrupt Practices Act

Enforcement and Prosecution Policy and Trends

U.S. Supreme Court Indirectly Limits Important Component of DOJ’s FCPA Pilot Program

On June 5, 2017, the U.S. Supreme Court unanimously held in Kokesh v. Securities and Exchange Commission, No. 16-529, that the SEC may not reach beyond the general five year statute of limitations period in order to obtain “ill-gotten gains,” a remedy known as disgorgement. Although the case did not involve a Foreign Corrupt Practices… Continue Reading
Anti-Bribery and Corruption, Fraud, Deception and False Claims

The Olympus Debacle: Why Internal Whistleblowing is a Good Thing for Compliance

The U.S. Department of Justice announced last week that Olympus Corporation of the Americas (OCA) agreed to pay $646 million to resolve three cases relating to its longstanding practice to bribe doctors and hospitals in the U.S. and abroad. The company entered deferred prosecution agreements (DPA) related to violations of the Anti-Kickback Statute (AKS) and… Continue Reading
Anti-Bribery and Corruption, Compliance, Enforcement and Prosecution Policy and Trends, Securities and Commodities

Key Takeaways From This Year’s Early FCPA Enforcement Actions

February has been a big month for U.S. Foreign Corrupt Practices Act (FCPA) enforcement. It started with the U.S. Securities and Exchange Commission (SEC) quietly resolving a string of relatively small matters.  Then, at the end of last week, the SEC and U.S. Department of Justice (DOJ) entered into a global resolution with VimpelCom in… Continue Reading
Anti-Bribery and Corruption, Anti-Money Laundering, Compliance

SEC and FinCEN Delivering One-Two Punch to Private Equity

Starting in January, it was widely reported that the SEC had upped its FCPA scrutiny of private equity funds required to register as investment advisers under Dodd-Frank, with requests for information being issued to a number of funds in connection with their courting of sovereign wealth funds. For many newly-regulated funds, this was likely viewed… Continue Reading
Anti-Bribery and Corruption, Compliance, Enforcement and Prosecution Policy and Trends

Anti-Corruption Enforcement in Brazil is in High Gear

Headlines of Brazil’s push to fight corruption are everywhere. The Petrobras scandal involves contracts worth billions of dollars, and prosecutors have uncovered a U.S. connection. The public is outraged and has called for President Dilma Rousseff’s impeachment, as the speaker of Brazil’s lower house of Congress and a former president of Brazil face recently filed… Continue Reading
Anti-Bribery and Corruption, Compliance, Securities and Commodities

China’s Focus on Combatting Commercial Bribery Is a Wake-Up Call

Earlier this month, six former employees of Tencent Holdings (Tencent), including Liu Chunning, a now high-level executive of Alibaba Group, were detained by Chinese authorities as part of a bribery investigation relating to payments made by online video content providers to employees of Tencent, including Liu. In addition to showcasing the continued fight against graft… Continue Reading
Anti-Bribery and Corruption, Compliance, Enforcement and Prosecution Policy and Trends, Financial Institution Regulation, Fraud, Deception and False Claims, Securities and Commodities

Biomet FCPA Announcement Highlights Distributor-Related Risks

Last week, Biomet Inc. announced in a filing with the U.S. Securities and Exchange Commission (SEC) that instead of its 2012 deferred prosecution agreement with the U.S. Department of Justice (DOJ) regarding violations of the U.S. Foreign Corrupt Practices Act (FCPA) expiring this week, the company would be monitored under it for an additional year.… Continue Reading
Anti-Bribery and Corruption, Compliance

The FCPA Implications of China’s Plan to Consolidate State-Owned Enterprises

China’s recently announced plan to restructure and consolidate its state-owned enterprises (SOEs) focuses on bolstering the private sector of its economy and creating economies of scale to allow Chinese companies to better compete internationally. It also may implicate companies’ efforts to comply with the U.S. Foreign Corrupt Practices Act (FCPA), in positive and negative ways.… Continue Reading
Anti-Bribery and Corruption, Fraud, Deception and False Claims

Civil fraud damages claims begin in the UK following a corruption prosecution by the SFO and the DOJ against Innospec and others

In a recent decision of Mr Justice Flaux in the case Jalal Bezee Mejel Al-Gaood & Partner v Innospec Limited and Others, the Claimants sued for damages which they claimed arose as a result of the Defendants having bribed the Iraqi Ministry of Oil (“MOO”) to purchase their chemical products, TEL.  The claim for damages… Continue Reading
Anti-Bribery and Corruption, Compliance, Election and Political Law, Enforcement and Prosecution Policy and Trends

Weatherford’s “loose controls and anaemic compliance” leads to $253 million bribery and sanctions penalties

This is a salutary tale for any companies, wherever they are situated in the world, which still think that their illegal activities will never be discovered. Usually it is only a question of time, and the penalties can be huge, as well as the impact on the business in sorting it all out.… Continue Reading
Anti-Bribery and Corruption, Compliance, Enforcement and Prosecution Policy and Trends

Deferred prosecution agreements to be introduced as a bill in the next parliament

In our view, the Solicitor General's confirmation that DPAs would be introduced into UK law is a very positive step forward in the enforcement of complex international crime. Although the road to its introduction may be bumpy, it is clear that he is very determined that it should happen and he is working with the judiciary to ensure that it is a success.… Continue Reading

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