Corporate

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TNG Premiers and Internal Controls for Gifts in a Best Practices Compliance Program
Posted on 29 Sep 2014 by Thomas Fox

This week, 27 years ago, Star Trek – The Next Generation (TNG) made its television debut. Rarely has there a follow up to a beloved original series ( Star Trek – The Original Series (TOS) ) that is equally treasured by fans. They say that... Read More

Where Does the Truth Lie?
Posted on 22 Sep 2015 by Mike Koehler

This article was reprinted with permission from FCPA Professor If the DOJ and/or SEC make allegations in a Foreign Corrupt Practices Act enforcement action, and a risk averse corporation agrees to resolve the enforcement action in the absence of judicial... Read More

The IBM Case: FCPA Compliance Programs And Internal Controls
Posted on 21 Mar 2011 by Thomas O. Gorman

There was Congressional testimony last fall to consider possible modifications to the Foreign Corrupt Practices Act. In part the testimony focused on the issue of FCPA compliance procedures as a defense for a business organization. Under current practice... Read More

Friday FCPA Roundup for Week Ending Nov. 7
Posted on 7 Nov 2014 by Mike Koehler

This article was reprinted with permission from FCPA Professor A double standard dandy, scrutiny alerts, quotable, asset recovery, protection money, and for the reading stack. It’s all here in the Friday roundup. Double Standard Dandy Numerous... Read More

Investigations Under the Foreign Corrupt Practices Act: How Global Energy Companies Can Protect Themselves
Posted on 24 Jun 2011 by Corporate and Securities Law Community Staff

by Jennifer Morrissey and Orlando Vidal Excerpt: It is no secret that energy companies frequently find themselves in the crosshairs of Foreign Corrupt Practices Act (FCPA) investigations. Energy companies' activities abroad often take place in... Read More

Compliance at the Tipping Point, Part II – New DOJ Compliance Counsel
Posted on 13 Oct 2015 by Thomas Fox

The second tipping point for compliance which has occurred over the last 30 days or so is the information which has leaked out that the Department of Justice (DOJ) is in the process of hiring an outside advisor to provide to the Foreign Corrupt Practices... Read More

Farewell to Moe Green and the Promise to Pay a Bribe Under the FCPA
Posted on 21 Jul 2015 by Thomas Fox

Moe Green died again yesterday but this time he was not shot through the glasses, it was from cancer and the fictional Las Vegas mobster lived to the ripe old age of 79. Of course I am referring to “Alex Rocco, the veteran tough-guy character actor... Read More

Friday FCPA Roundup for Week Ending August 9
Posted on 9 Aug 2013 by Mike Koehler

This article was reprinted with permission from FCPA Professor Future enforcement actions, in the interest of completeness, and for the reading stack. It’s all here in the Friday Roundup. Future Enforcement Actions Stay tuned for future... Read More

Documentation and the TRACE Due Diligence Guidebook
Posted on 9 Mar 2011 by Thomas Fox

One of the themes coming out of the talks given by representatives of the Department of Justice and Securities and Exchange Commission at FCPA compliance conferences is that of documentation. While many companies focus on the specifics of a best practices... Read More

Friday FCPA Roundup for Week Ending June 13
Posted on 13 Jun 2014 by Mike Koehler

This article was reprinted with permission from FCPA Professor Elevate your FCPA knowledge and practical skills, FCPA ripples, origins of PetroTiger’s FCPA scrutiny, news flash, and for the reading stack. It’s all here in the Friday Roundup... Read More

The Weatherford FCPA Settlement, Part II
Posted on 5 Dec 2013 by Thomas Fox

Earlier, I reviewed the Weatherford International Limited (Weatherford) Foreign Corrupt Practices Act (FCPA) settlement. Today I will take a more focused look at the bribery schemes involved and the failure of the company to bring internal controls up... Read More

Friday FCPA Roundup for Week Ending July 26
Posted on 26 Jul 2013 by Mike Koehler

This article was reprinted with permission from FCPA Professor A sign-off, no surprise, scrutiny alert, for the reading stack, spot-on, and the $10 million man. Judge Leon Signs-Off On IBM Action As highlighted in this prior post, in March 2011... Read More

Whom Should You Suspend During an Internal FCPA Investigation?
Posted on 28 Oct 2015 by Thomas Fox

Whom to suspend during any Foreign Corrupt Practices Act (FCPA) investigation is always a delicate question to answer. Unfortunately there is never an easy answer. As the Volkswagen (VW) emission-testing scandal continues to reverberate, it continues... Read More

Watergate Is Not Just a Hotel – Corporate Suitors for Alstom
Posted on 17 Jun 2014 by Thomas Fox

Today is the anniversary of an event that can truly be said to have changed the world; although certainly not in the manner intended by its planners, sponsors or participants. Today is the anniversary of the 1972 Watergate Break-In. How much of the world... Read More

Friday FCPA Roundup for Week Ending July 31
Posted on 31 Jul 2015 by Mike Koehler

This article was reprinted with permission from FCPA Professor Scrutiny alerts, noisy exit, double standard, quotable and for the reading stack. It’s all here in the Friday roundup. Scrutiny Alerts FIFA-Related As predicted in this May... Read More

  • Blog Post: Documentation and the TRACE Due Diligence Guidebook

    One of the themes coming out of the talks given by representatives of the Department of Justice and Securities and Exchange Commission at FCPA compliance conferences is that of documentation. While many companies focus on the specifics of a best practices FCPA compliance program, we believe that...
  • Blog Post: FCPA and Bribery Act Best Practices- Written Compliance Policies and Procedures

    One of the areas which is universally listed as a component of a best practices compliance policy under the Foreign Corrupt Practices Act (FCPA), UK Bribery Act and OECD Good Practices is that of a written compliance code. However this is not an area that most compliance practitioners spend much...
  • Blog Post: FCPA Risk Assessment: Hockey Stick Rather than Bell Curve?

    In an interesting article posted in Industrial Week.com , entitled " Rethinking FCPA Compliance Strategies in a New Era of Enforcement " attorney William Athanas took a different look at assessing the risks for manufacturing companies under the Foreign Corrupt Practices Act (FCPA). His...
  • Blog Post: (FCPA) Compliance and Ethics: Tone from the Middle

    A panel at the Global Ethics Summit, discussed the topic of "Tone from the Middle". The panelists were Chad Fentress, AGC for Accenture; Matthew Pachman, CCO for Altegrity and Maarten Westermann, Senior Director for Corporate Executive Board. The panel was moderated by Dr. Chris MacDonald...
  • Blog Post: The IBM Case: FCPA Compliance Programs And Internal Controls

    There was Congressional testimony last fall to consider possible modifications to the Foreign Corrupt Practices Act. In part the testimony focused on the issue of FCPA compliance procedures as a defense for a business organization. Under current practice those procedures are not a defense but mitigation...
  • Blog Post: Internal Controls under the UK Bribery Act and FCPA

    Although much is still unclear about the implementation date, or the manner in which the UK Bribery Act will be enforced, it is clear that one of the important compliance functions which a company should implement is appropriate internal controls. The previously released Consultative Guidance had...
  • Blog Post: 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...
  • Blog Post: 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...
  • Blog Post: FCPA Lessons Learned-Failures in Internal Controls

    We often write and speak on some of the lesson learned from enforcement actions brought by the Department of Justice (DOJ) under the Foreign Corrupt Practices Act (FCPA). We believe that companies can not only learn from the mistakes of others in implementing or enhancing their compliance program...
  • Blog Post: Proactive Use of Systemic Compliance Successes in an FCPA Enforcement Action

    We recently looked at an article which reviewed the Department of Justice's (DOJ) Foreign Corruption Practices Act (FCPA) enforcements with an eye towards the failures of internal controls. This analysis provided a valuable summary of several "lessons learned" regarding the compliance...
  • Blog Post: The Role of an Oversight Committee in FCPA Compliance

    We believe that there are four stages a company needs to traverse in it relationship with a Foreign Business Partner. We define them as (1) Business Justification for a Foreign Business Partner; (2) Background and Due Diligence Investigation of the proposed Foreign Business Partner; (3) Evaluation...
  • Blog Post: Johnson & Johnson Deferred Prosecution Agreement-Part I: Self-Disclosure Reduces Fine

    On April 8, 2011, the Wall Street Journal (WSJ) reported that Johnson & Johnson settled certain charges related to violations of the Foreign Corrupt Practices Act (FCPA) with the Department of Justice (DOJ) and Securities and Exchange Commission (SEC). The settlement was in the mechanism of a...
  • Blog Post: Compliance Convergence: Know Who You Are Doing Business With

    The compliance world is ever expanding and a corporation's response to compliance must be ever more sophisticated. Noted Compliance Expert Howard Sklar , author of the Open Air Blog, has spoken of "compliance convergence" or the merging of control programs such as anti-bribery and anti...
  • Blog Post: FCPA Compliance: Documentation Is a Key

    Paul McNulty, former United States Deputy Attorney General has provided perspective that there are three general areas of inquiry the Department of Justice (DOJ) would assess regarding an enforcement action. First: "What did you do to stay out of trouble? Second: "What did you do when you...
  • Blog Post: Testing Your FCPA Compliance Program

    One of the areas which has received considerable attention in the compliance world over the past six months is that of assessment. Today, we would like to focus on a smaller facet of assessment which we considered when reading a recent article in the Harvard Business Review, entitled " Failing...
  • Blog Post: Listen to Create a Compliance Charter

    In an article entitled " Learning to Work with Green Activists " published in this month's Harvard Business Review , Chairman, President and Chief Executive Officer (CEO) of Duke Energy, James E. Rogers, writes about his experiences early in his tenure where he embarked on "100...
  • Blog Post: Conducting Pre-Acquisition FCPA Due Diligence

    There are several recent examples where companies, bought both businesses and there pre-existing violations of the Foreign Corrupt Practices Act (FCPA), in large part because the acquiring companies failed to perform sufficient FCPA due diligence it the overall pre-acquisition due diligence. These...
  • Blog Post: M&A in the FCPA Context: What a Seller Should Do

    I have written about mergers and acquisitions (M&A) in the context of the requirements of the Foreign Corrupt Practices Act (FCPA). However I usually write about the acquiring company and its obligations under the FCPA. I recently have worked with some companies which are in the acquired position...
  • Blog Post: The FCPA Compliance Program Review: Keeping Current and Dynamic

    My colleague, Stephen Martin, speaks about the need to have 1-3-5 plans developed and readily available to upgrade and update your compliance program. He believes that such plans can be useful for several reasons. Initially these plans will be your road map for implementation going forward. Additionally...
  • Blog Post: The SAR Activity Review Report: Lessons for the FCPA Compliance Practitioner

    Yesterday my colleague Howard Sklar and I recorded Episode 3 in our This Week in the FCPA series, check out our video podcast. One of the items we discussed was the release of BSA Advisory Group's recent publication " The SAR Activity Review, Trends Tips & Issues " Issue 19, In...
  • Blog Post: 20 Questions Directors Should Ask about Compliance Committees

    What are some of the questions that the Board of Directors should be asking? We posit that a large public company should have Compliance Sub-Committee of Board members. We list 20 questions below which reflect the oversight role of directors which includes asking senior management and themselves...
  • Blog Post: Three Lines of Defense for FCPA Compliance: Lessons from a Holistic GRC Model

    In a session at Compliance Week 2011 entitled, " Implementing a Compliance Program in a Global Business Using a Holistic GRC Model ", the speakers, John Farrell and James Littley, both of KPMG and Robert Brewer, Chief Compliance Officer of Office Depot presented a model to consider for a...
  • Blog Post: Recent DPAs Provide Guidance on FCPA Compliance Best Practices

    The House Judiciary Committee will hold hearings Tuesday on the Foreign Corrupt Practices Act. At this point the Witness List as set forth on the Committee's website is as follows: Hon. Michael Mukasey Former Attorney General Partner Debevoise & Plimpton LLP...
  • Blog Post: The Failure to Escalate or It Didn’t Make Sense

    In a previously life I was a civil trial lawyer. For a portion of that career I defended companies in catastrophic injury cases. One common themes running through each of the catastrophes which underlay the inevitable litigation was there was always one point where if an action had been taken, or...
  • Blog Post: Investigations Under the Foreign Corrupt Practices Act: How Global Energy Companies Can Protect Themselves

    by Jennifer Morrissey and Orlando Vidal Excerpt: It is no secret that energy companies frequently find themselves in the crosshairs of Foreign Corrupt Practices Act (FCPA) investigations. Energy companies' activities abroad often take place in countries considered to be high corruption risks...