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...
We were recently introduced to Fraud Examiner Expert Tracy Coenen , in her
book " Expert Fraud Investigation: A Step-By-Step Guide " she details the
steps a company should go through in performing a fraud investigation. Coenen
provides the 'nuts and bolts' on how conducting an investigation...
In a Whitepaper entitled " Restoring Balance-Proposed
Amendments to the Foreign Corrupt Practices Act ", authors Andrew
Wiessmann and Alixandra Smith, writing on behalf of the US Chamber
Institute for Legal Reform who recently proposed amending the Foreign
Corrupt Practices Act (FCPA),...
Today, in what the FCPA Blog called "making FCPA history", the Department of
Justice (DOJ) and the Securities and Exchange Commission (SEC) announced the
agreement by the Global logistics firm Panalpina and the energy companies
Shell, Transocean, Tidewater, Noble and Pride International...
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 "....
What is in a name? The terms agent, reseller and
distributor are sometimes used interchangeably in the business world. However
in the legal world they usually have distinct definitions. An agent can be
generally defined as is a person who is authorized to act on behalf of another
to create a legal...
What are the methods to assess the risks of your Supply
Chain vendors? Other than perhaps financial due diligence, such as through Dun
& Bradstreet or quality control through your QHSE group, the Supply Chain
probably does not command your Compliance Department attention as do other
In a Whitepaper entitled " Restoring
Balance-Proposed Amendments to the Foreign Corrupt Practices Act ",
released earlier this month, authors Andrew Wiessmann and Alixandra Smith,
writing on behalf of the US Chamber Institute for Legal Reform proposed amending the
Foreign Corrupt Practices...
Most compliance practitioners are aware of the use of corporate monitors. There are many benefits to the use of a corporate monitor for a company coming out of a lengthy Foreign Corrupt Practices Act (FCPA) investigation. Some of these benefits can include increased corporate awareness of compliance...
In a Wall
Street Journal (WSJ) article on December 22, 2010 by Joe Palazzolo, he
reported that the Securities and Exchange Commission (SEC) is investigating
Europe's largest insurer, Allianz SE, for possible bribery by a German printing
press company in which it holds majority stake. Palazzolo...
Inspired by our colleague, the FCPA Professor , this post will
pose several questions regarding the Foreign Corrupt Practices Act (FCPA) in
connection with one of the most Byzantine litigation matters of current renown,
that being Chevron's legal tangle in Ecuador. Most companies which do business...
The Foreign Corrupt Practices Act (FCPA) applies to all
US companies and individuals which conduct business overseas. FPCA practitioners
recognize there are two components: (1) the anti-bribery component, handled by
the Department of Justice (DOJ) and (2) the books and records components,
Many Foreign Corrupt Practices Act (FPCA) and UK Bribery
Act practitioners are well aware of the oratory of the US and UK governments on
the evils of bribery and corruption. However, such a fight is not just being
made by the US Department of Justice and the UK Serious Fraud Office, there are
As reported in today's
FCPA Blog , the Wall
Street Journal (WSJ) reported that the Securities and Exchange Commission
(SEC) is investigating "whether bank and private equity firms violated the
[FCPA] in their dealings with sovereign wealth funds." The WSJ article noted
The FCPA seems to be most closely associated with shady
oil operations, mining, defense contractors and infrastructure
transactions. The image is a big company coming in and bribing an
official for access to the country's resources.
The other side to that investment is that the countries
One of the key goals of any Foreign Corrupt Practices Act
(FCPA) compliance program is to train company employees in awareness and
understanding of the FCPA; your specific company compliance program; and to
create and foster a culture of compliance. The testing and evaluation of your
Most Foreign Corrupt Practices Act (FCPA) practitioners
understand the requirement for a compliance policy under the FCPA. However many
practitioners, particularly lawyers practicing in the compliance field, do not
understand the requirement for proper Internal Controls. Generally speaking,
In a Wall Street Journal article on January 27, 2011
entitled " What's
Behind China's Reverse IPOs ?", reporter Joseph Sternberg wrote that several
Chinese companies were under investigation by the Securities and Exchange
Commission (SEC) for "accounting irregularities"...
I. The Problem
The Foreign Corrupt Practices Act (FCPA) world is
littered with cases involving freight forwarders, brokers and agents in the
shipping and express delivery arena. Both the Department of Justice (DOJ) and
Securities and Exchange Commission (SEC) have aggressively pursued third party...
In yesterday's blog we explored the question of whether a
company should self-report a potential FCPA violation to the pertinent US
governmental authorities. Today, conclude our two-part series by exploring
three issues: (1) What should you disclose; (2) How/When Should you Disclose;
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...
The Galleon insider trading trial continues this week in
New York. In another New York court room the Commission struggled to have a
partial settlement approved by the court. While the agency secured the
necessary approval it was not without a cost: The court reserved the right to
The market crisis, the FCPA and insider trading were
again the key focus this week. On Capitol Hill the Senate Permanent Committee
on Investigations issued a lengthy, detailed report regarding the causes of the
market crisis. This report builds on earlier efforts but contains substantial
The Commission approved new rules regarding the much discussed consolidated audit trail this week while continuing to issue rules under Dodd-Frank. Now the exchanges and FINRA will be required to implement the provisions regarding the consolidated audit trail.
SEC enforcement brought actions centered...
The new Report of the OECD Working Group on Bribery details its recent work while providing an overview of anti-bribery enforcement around the globe. The Anti-Bribery Convention came into force in 1999. As of December 2011 there were 38 parties to the Convention, 34 of whom are OECD member along with...