Foreign Corrupt Practices Act News
February 22, 2013
FCPA Professor |
February 22, 2013
At the FCPA Guidance press conference last November, Assistant Attorney General Lanny Breuer wisely noted that the Guidance was not “complete closure” to various concerns regarding the Foreign Corrupt Practices Act and he stated that the DOJ “welcomes” continued discussions regarding FCPA reform.
February 20, 2013
Main Justice |
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February 20, 2013
Industry volleyed the ball back into the government’s court on Tuesday, sending a letter to foreign bribery enforcers that renewed the call for legislative amendments to the U.S. Foreign Corrupt Practices Act as well as changes to enforcement policy.
Reuters |
February 20, 2013
U.S. business groups on Tuesday reignited their campaign to amend an anti-foreign bribery law by suggesting authorities should give companies additional defences against criminal charges.
WSJ.com Corruption Currents |
February 20, 2013
A federal judge in Manhattan tossed the Securities and Exchange Commission’s foreign bribery case against a former Siemens AG executive on Tuesday.
Main Justice |
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February 20, 2013
Thanks to the Dodd-Frank financial reform legislation, the government last year gained a new window into the world of private investment advisers, hedge fund managers, private equity firms and venture capital shops — and a new means of detecting violations of the Foreign Corrupt Practices Act.
February 19, 2013
Main Justice |
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February 19, 2013
After a three-year internal probe, the Minnesota industrial conglomerate 3M Co. on Thursday said the U.S. government had decided to take no action over potential violations of the U.S. Foreign Corrupt Practices Act.
New York Times |
February 19, 2013
Hunkered down. Lawyered up. Looking over your shoulder for the prosecutors. That is a not a comfortable way to do business. But it may become business as usual for those who have been struggling to make China both a customer for Hollywood films and a partner in the production of them.
FCPA Professor |
February 19, 2013
As explored in this prior post, 2012 corporate enforcement actions originated from the following sources: voluntary disclosures; disclosures following industry sweeps; and foreign law enforcement investigations. Other origins of FCPA enforcement actions have been whistleblower or competitor complaints, media reporting - all of which may prompt enforcement agency inquiries – and sting operations, as in the Africa Sting case (although, contrary to popular misperception this was not the first instance of a sting operation being used in an FCPA case).
February 14, 2013
FCPA Professor |
February 14, 2013
The SEC’s administrative order in the December 2012 Allianz enforcement action cited SEC v. World-Wide Coin Investments, 567 F.Supp. 724 (N.D. Ga. 1983) for the following proposition. “[The FCPA's books and records provisions do] not require that the amounts involved be “material,” nor is it necessary to prove “scienter” under its provisions. [...] Similarly, there is no scienter requirement for establishing a violation of [the FCPA's internal controls provisions]. These citations are not inaccurate, but nor do they tell the whole story of World-Wide Coin’s holding.
Main Justice |
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February 14, 2013
As financial markets grow globally, Securities and Exchange Commission Chairman Elisse B. Walter said Monday that international regulators and law enforcement are increasingly taking the offensive against corruption.
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