What Steps Can Lead to a Reduction in a FCPA Fine?

Earlier this month, in the FCPA Blog , Bruce Hinchey discussed his upcoming publication, " Punishing the Penitent: Disproportionate Fines in Recent FCPA Enforcements and Suggested Improvements " which analyzes differences between bribes paid and penalties levied against companies that do...

How to Turn a Season Around

One of the more enjoyable aspects of a baseball season is its length. The fortunes of a team can ebb and flow over the course of a 162 games season. So even if a team starts out abysmally, it can pick things up over the course of the spring and summer and give some hope to the team in September and...

What is your FCPA Investigation Protocol?

Speaking at the IQPC 2010 Internal and Regulatory Investigations in Oil and Gas Conference , Dominic Sheils, Compliance Counsel for John Wood Group PLC, and James W. Noe, Senior Vice President, General Counsel and Compliance Officer for Hercules Offshore, Inc., discussed two different approaches to...

Miranda and the FCPA: Do You Have the Right to Remain Silent?

In a recent posting, the FCPA Blog posed the question of whether a company employee was warned "that concealing information from company lawyers conducting an internal FCPA investigation could be a federal crime?" The FCPA Blog raised this question in the context of a company's internal...

Proposed Amendments to the FCPA

In a White Paper released today by the US Chamber Institute for Legal Reform, entitled " Restoring Balance-Proposed Amendments to the Foreign Corrupt Practices Act ", authors Andrew Wiessmann and Alixandra Smith argue that the time is ripe to amend the Foreign Corrupt Practices Act (FCPA...

FCPA Settlement Day: DOJ Guidance on the Best Practices of a Corporate Compliance Program

In what the FCPA Blog termed a day of making history "for the most companies to simultaneously settle FCPA-related violations, [the] Global logistics firm Panalpina and five of its oil-and-gas services customers resolved charges with the DOJ and SEC, and another customer settled with the SEC...

The End of the FCPA Facilitation Payment Exception?

In November, 2009 the Organization for Economic and Co-operation and Development (OECD) announced a new recommendation at the OECD's celebration of "International Anti-Corruption Day" and the Tenth Anniversary of the " Entry into Force of the OECD Anti-Bribery Convention "....

A “New Era” of FCPA Enforcement

"We are in a new era of FCPA enforcement" Assistant AG Lanny Breuer declared in remarks at a conference on Tuesday . The Department of Justice is stepping up FCPA enforcement, which is good for business, despite the contention of some critics. Increased enforcement is reflected in by a...

FCPA Enforcement: Crafting Incentives to Foster Compliance

FCPA enforcement has been marked by the aggressive approach adopted in recent years by The Department of Justice and the SEC. As Acting Deputy Assistant Attorney General Greg Andres told a Senate Committee this week "over approximately the last two years, we have substantially increased the...

The FCPA and Mergers and Acquisitions

In a webinar on December 2, 2010, Michael Volkov, partner in the law firm of Mayer Brown and Ryan Morgan, Sales and Alliance Director of World Compliance, discussed the implications of the Foreign Corrupt Practices Act (FCPA) to mergers and acquisition. They advise that businesses which seek to...

Congressional Hearings for Amendment of the FCPA

At what the FCPA Blog termed "an unprecedented investigation into the Department of Justice's (DOJ) enforcement of the Foreign Corrupt Practices Act (FCPA)", on November 30, 2010, at a hearing entitled the " Examining Enforcement of the Foreign Corrupt Practices Act " before...

The FCPA: A Key Focus Of Securities Regulators

While insider trading has been dominating the news, the Foreign Corrupt Practices Act remains a key focus of securities regulators. The Department of Justice continued to unwind a years long conspiracy to violate the FCPA with the guilty plea yesterday of Wojciech J. Chodan, a former commercial vice...

DUE DILIGENCE, COOPERATION AND THE FCPA

FCPA enforcement officials repeatedly emphasized the necessity for adequate compliance procedures and the value of voluntarily reporting and cooperation when a violation is discovered. The FCPA settlement of RAE Systems Inc. with the Department of Justice and the SEC illustrates the necessity for pre...

And Then There Were None-JGC Settles

The blog site International Construction reported, on January 31, 2011 that the Japanese company JGC announced has agreed to pay a $244 million penalty to the Department of Justice (DOJ) to resolve charges related to the Foreign Corrupt Practices Act (FCPA) for its participation in a decade-long...

The FCPA, Voluntary Disclosure and Cooperation

Maxwell Technologies, Inc. resolved FCPA violations with DOJ and the SEC. After voluntarily disclosing its violations to DOJ and the SEC the company settled all charges. Under the terms of the settlements Maxwell will pay DOJ and the SEC a total of $13.65 million, had criminal charges filed against...

Tyson Foods DPA-Part II: Compliance Program Best Practices under the FCPA

In this post we are concluding our review of the Tyson Foods settlement, which both the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) announced last week, of its violations of the Foreign Corrupt Practices Act (FCPA). In yesterday's posting we discussed the reasons...

“Instrumentality Thereof” under the FCPA: An Absurd Result?

The prognosticators have now spoken (yet again) and decreed that the Houston Astros will be this year's worst team in baseball. We are well into the first week of Spring Training and the Houston Chronicle has reported that Baseball Prospectus has predicted only 67 wins for the hometown heroes...

This Week in Securities Litigation (May 13, 2011)

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...

The SEC Uses a Shiny New Tool

Earlier this year the Securities and Exchange Commission announced a new initiative encouraging cooperation. They wanted to start using Cooperation Agreements, Deferred Prosecution Agreements, and Non-prosecution Agreements. They finally got use one of their shiny new tools. The SEC announced that...

This Week in Securities Litigation (March 2, 2012)

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 Chairman...

Supreme Court Rejects SEC Effort to Extend Statute of Limitations

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 limitations...

Three Employees of Broker Plead Guilty to FCPA Charges

Three employees of a New York broker-dealer pleaded guilty on Friday, August 30, to charges of conspiracy, violating the FCPA, violating the Travel Act, money laundering and conspiracy to obstruct justice. Specifically, Ernesto Lujan, Jose Hurtado and Tomas Clarke each pleaded guilty to six counts: Two...

FCPA: A Focus on Individuals

FCPA enforcement officials have repeatedly emphasized that they intend to focus on individuals as an effective means of halting possible violations. A case unsealed yesterday underscores this point. The action, based on an indictment returned last year in the Northern District of Illinois but unsealed...

HP, Three Subsidiaries Pay $108 Million to Settle FCPA Charges

The Russian, Polish and Mexican subsidiaries of Hewlett-Packard Company resolved criminal FCPA charges with the Department of Justice while the parent corporation settled with the SEC. ZAO Hewlett-Packard A.O., or HP Russia, agreed to plead guilty to a criminal information alleging conspiracy and violations...

SEC Settles FCPA Action on the Eve of Trial

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) . ...