FCPA enforcement continues to be a priority for the SEC and DOJ. This week the SEC filed two settled FCPA cases. One is a follow up to earlier cases the Commission has brought in conjunction with DOJ. SEC v. Technip , Case No. 4:10-cv-02289 (S.D. Tex. Filed June 28, 2010). A second is an action brought...
The war on insider trading by the Manhattan U.S. Attorney
was propelled forward this week with the conviction of Galleon hedge fund
founder Raj Rajaratnam on all fourteen counts. At the same time another
defendant in the expert network investigation pleaded guilty. DOJ also
prevailed in an FCPA jury...
This week the jury began deliberations in the Robert
Allen Stanford Ponzi scheme case without hearing from Mr. Stanford despite
promises to the contrary from defense counsel at the beginning of the trial.
Granger announced an SEC FCPA probe centered on the use of gift cards in China.
The Supreme Court rejected the SEC's effort to extend the
five year statute of limitations for imposing a civil penalty by engrafting a
discovery exception onto the statute. Chief Justice Roberts, writing for a
unanimous Court, held that under Section 2462 of Title 28, the statute of
The SEC was about to try its first FCPA case. Then the Commission settled, agreeing to drop the bribery charges as well as its demand for monetary sanctions. That ended the case against two Nobel Corporation executives SEC v. Jackson, Civil Action No. 4:12-cv-00563 (S.D. Tx. Filed Feb. 24, 2012) .