Some Red Flags

Most compliance practitioners have heard the term " Red Flags ." Red Flags are generally defined as circumstances which could place a reasonable person on notice that illegal or improper conduct has or may occur. A Red Flags does not mean that an action or transaction should immediately...

Is a Commercial Enterprise Owned by Foreign Government by Covered by the FCPA?

One of the factors to determine just who is a foreign governmental official under the Foreign Corrupt Practices Act (FCPA), is whether a foreign government is involved. There are currently a triumvirate of pending cases where the defendants have challenged a basic Department of Justice tenet that...

Johnson & Johnson, DePuy Pay $76.9 Million To Settle Foreign Bribery Claims

(Mealey's) Johnson & Johnson (J&J) and subsidiary DePuy International Ltd. will pay $76.9 million to resolve criminal and civil allegations in the United States and in the United Kingdom that they paid kickbacks to doctors in Greece, Poland, Romania and Iraq to use the companies' drugs...

15 (FCPA) Blog Sites to Check Out on April 15

For some time now I have wanted to write about who I read and why, so in honor of April 15, I thought it might be a good idea to list 15 favorite blog sites. Below is a list of my favorites and as this blog provides my spin on all things related to the Foreign Corrupt Practices Act (FCPA) arena here...

This Week in the FCPA # 6 (June 6, 2011) by Thomas Fox & Howard Sklar

Among the topics that Thomas Fox and Howard Sklar discuss this week: Cheryl Scarboro's departure from the SEC to join Simpson Thacher, the House Judiciary Committee's examination of upgrades to the Foreign Corrupt Practices Act, KPMG's Global Anti-Bribery and Corruption Survery...

Advisory—UK Bribery Act 2010 – Consider Your Directors and Officers Insurance?

By Raymond L. Sweigart and Rene L. Siemens, Partners, Pillsbury Winthrop Shaw Pittman LLP Section 7 of the UK Bribery Act that came into force on 1 July establishes a strict liability corporate offense for failure to prevent bribery. The only defence recognized in the Act is where an affected commercial...

Cadwalader FCPA Advisor: Technip DPA, DOJ Corporate Monitor Guidance, DOJ FCPA Opinion Release, and more

In This Issue: Technip Enters into DPA with DOJ, Pays $338 Million Settlement Department of Justice Guidance on Company Disputes with Corporate Monitors First DOJ FCPA Opinion Procedure Release in 2010 Financial Reform Bill Compensates Whistleblowers Assisting the SEC Breuer Cautiously Approaches...

End of the Annual Compliance and Ethics Training ‘Flea Dip’

In an article in the July/August edition of the ACC Docket entitled " Rethinking the Annual Compliance and Ethics Flea Dip ", author James Nortz discusses the annual compliance and ethics training program that most US company's employees receive which he calls a ' flea dip' . While...

David S. Lorello on the UK Bribery Act 2010 and the Broader UK Anti-Corruption Legal Framework -- A Comparative Roadmap for the FCPA Practitioner

By David S. Lorello The UK Bribery Act 2010 ("the Bribery Act") came into force on 1 July 2011, and represents a comprehensive revision of United Kingdom's anti-bribery laws. The Act is the product of a long period of UK government deliberation and consultation with public stakeholders...

Foley & Lardner LLP: The Reinsurance Industry Needs to Understand and Comply With the FCPA

By Max B. Chester , Partner, Foley & Lardner LLP The reinsurance industry has been in existence for several centuries and has developed its own ways of doing business and cultivating relationships, often based on personal interactions and a healthy dose of entertainment. The Foreign Corrupt...

Parts III & IV: The SEC and Chinese Issuers: Transparency And Accountability

Corporate governance A number of PRC based issuers have been named as defendants in SEC enforcement actions. These cases involve a range of issues including financial fraud, manipulation and misuse of assets. Misrepresentations and financial fraud are the central allegations in SEC v. SinoTechEnergy...

The Story Of The Foreign Corrupt Practices Act

This article was reprinted with permission from FCPA Professor Thirty-five years ago this month, the Foreign Corrupt Practices Act became law. In connection with this anniversary, I am pleased to share my scholarship " The Story of the Foreign Corrupt Practices Act " recently published...

Grading the Foreign Corrupt Practices Act Guidance

This article was reprinted with permission from FCPA Professor I am pleased to share a download link ( here ) to my article "Grading The Foreign Corrupt Practices Act Guidance" recently published in Bloomberg / BNA's White Collar Crime Report. The article abstract is as follows...

The Need for an FCPA Lingua Franca

This article was reprinted with permission from FCPA Professor There is a need for a Foreign Corrupt Practices Act lingua franca. The absence of a lingua franca has all sorts of negative effects, including an impact on the quality of FCPA enforcement and related statistics. I previously wrote...

Small but Crucial Distinctions: Understanding the UK Bribery Act vs. the FCPA

"We are not the 'serious champagne office,' " said David Green , chief of the UK's Serious Fraud Office (SFO). But Green says he is working to focus his agency on bigger cases of bribery and corruption. Green's commitment , and the sweeping nature of the UK Bribery Act (UKBA...

Friday FCPA Roundup for Week Ending June 20

This article was reprinted with permission from FCPA Professor SEC tweaks its neither admit nor deny settlement policy, Tyco settlement approved, scrutiny alert, and for the reading stack. It's all here in the Friday roundup. SEC Tweaks Neither Admit Nor Deny Settlement Policy Numerous...

The Guidance One Year Later

This article was reprinted with permission from FCPA Professor One year ago today, the DOJ and SEC released FCPA Guidance. (See here for the Guidance and here for the Guidance press conference). To say that the Guidance was long-awaited is an understatement. In 1988, Congress encouraged the...

The 100th Edition: Friday FCPA Roundup for Week Ending Nov. 15

This article was reprinted with permission from FCPA Professor Scrutiny alerts and updates, a first, blunt, and quotable. It’s all here in this – the 100th edition - of the Friday roundup. [I hope the Friday roundup is a value added end to your work week. The Friday roundup alone represents...

Weatherford International and Subsidiaries Agree to Guilty Plea to FCPA and Export Control Violations and Will Pay $252 Million in Penalties and Fines

Three subsidiaries of Weatherford International Limited, a Swiss oil services company that trades on the New York Stock Exchange, have agreed to plead guilty to anti-bribery provisions of the Foreign Corrupt Practices Act (FCPA) and export controls violations under the International Emergency Economic...

Friday FCPA Roundup for Week Ending Dec. 6

This article was reprinted with permission from FCPA Professor Looking for talent … got talent, the DOJ is sued, the Corruption Perceptions Index, a pulse on FCPA Inc., and for the reading stack. It’s all here in the Friday roundup. Looking for Talent … Got Talent If your...

The Reach of the Foreign Corrupt Practices Act: German Engineering Firm to Pay $32 Million Criminal Penalty

Bilfinger SE, an international engineering and services company based in Mannheim, Germany, has agreed to pay a $32 million penalty to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) by bribing government officials of the Federal Republic of Nigeria to obtain and retain contracts...

Alcoa World Alumina Pleads Guilty to Foreign Bribery and Will Pay $384 Million in Fines and Penalties

Alcoa World Alumina LLC, a majority-owned and controlled global alumina sales company of Alcoa Inc., has agreed to plead guilty and to pay $223 million in criminal fines and forfeiture to resolve charges that it paid millions of dollars in bribes through an international middleman in London to officials...

Prosecutors’ Rush to Join Private Law Firms Accelerates

The wave of financial fraud prosecutors joining private law firms is continuing – in fact, it appears to be accelerating. Consider that, in just the past couple of days, David Meister, who ran the enforcement unit at the Commodity Futures Trading Commission, joined Skadden, Arps, Slate...

Oil Company’s Ex-CEO Guilty in Foreign Bribery Case

The former chief executive officer of PetroTiger Ltd., a British Virgin Islands oil and gas company with operations in Colombia and offices in New Jersey, has pleaded guilty for his role in a scheme to pay bribes to foreign government officials and to defraud PetroTiger. Knut Hammarskjold, the former...

The FCPA Turns 37

This article was reprinted with permission from FCPA Professor This weekend, our favorite statute, the Foreign Corrupt Practices Act, turns 37. President Jimmy Carter’s December 20, 1977 signing statement stated in full as follows. “I am pleased to sign into law S. 305,...