Foreign Corrupt Practices Act

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End of the Chevron Era: The Future of Agency Enforcement Shifts to Courts

With its second of two landmark decisions impacting the future of federal agency enforcement, SCOTUS struck down the Chevron decision last week.  In a 6-3 decision in Loper Bright Enterprises v. Raimondo, the Court shifted enforcement power away from agencies and to the federal courts. The implications of the Chevron decision are both significant and … Continue Reading

SCOTUS Ruling in Jarkesy Foreshadows Big Changes in Federal Enforcement

SPB’s Keith Bradley authored an article for Bloomberg Law covering a recent SCOTUS decision with significant ramifications: SEC v. Jarkesy. We believe that Jarkesy will decidedly shift the landscape of agency adjudication and regulatory enforcement. For the background and possible implications of this decision, read the full article at Supreme Court’s Jarkesy Ruling Upends SEC … Continue Reading

Webinar: The New Foreign Extortion Prevention Act – What It Means for US Companies

Please join us on Tuesday, January 30 for a discussion about “the most consequential anti-foreign-bribery law passed in almost 50 years”: the Foreign Extortion Prevention Act (FEPA). FEPA allows the DOJ to prosecute foreign officials who demand or accept a bribe from a U.S. citizen or company. Our seasoned team of three former Department of … Continue Reading

FEPA: the New Tool in the DOJ’s Fight Against Corruption

On December 22, 2023, President Biden signed into law the Foreign Extortion Prevention Act (hereinafter “FEPA” or the “Act”) which was passed by the US Congress as part of the Fiscal Year 2024 National Defense Authorization Act.  The Act aligns with the current administration’s national security agenda in that it broadens the scope and reach … Continue Reading

DOJ FCPA Unit Officials’ Take on 2022

In an onstage interview at the American Conference Institute’s 39th International Conference on the Foreign Corrupt Practices Act David Last, Chief of the FCPA Unit of Department of Justice, Criminal Division, Fraud Section, and David Fuhr, the Unit’s Assistant Chief, reflected on the year’s most pressing enforcement issues. Acknowledging that 2022 had been difficult for DOJ’s … Continue Reading

OFAC Announces Settlement with Virtual Currency Exchange Kraken

On November 28, 2022, the Office of Foreign Assets Control (“OFAC”) announced a settlement agreement with Payward, Inc., known as Kraken (“Kraken”), a United States-based virtual currency exchange. Kraken agreed to pay $362,158.70 to resolve its potential civil liability for 826 apparent violations of the Iranian Transactions and Sanctions Regulations (“Apparent Violations”). The settlement amount … Continue Reading

New DOJ KleptoCapture Task Force to Enforce Russia Sanctions

On March 2, 2022, the U.S. Department of Justice (“DOJ”) announced the creation of the interagency Task Force KleptoCapture (the “Task Force”) to enforce the sanctions, export restrictions, and economic countermeasures against Russian officials and oligarchs in response to the conflict in Ukraine. The Task Force will consist of prosecutors and agents from numerous federal … Continue Reading

Slavery in Supply Chains

 Squire Patton Boggs  has published its first edition of the Commodities & Shipping Group’s (CSG) Quarterly Update.  The topic we chose to focus on for this publication is  slavery in supply chains. The Global Survey Index reports over 45.8 million people are subject to modern slavery (26% of whom are children, and 55% are women … Continue Reading

DOJ FCPA Opinion Encourages Corporate Disclosure

On January 21, 2022, the Department of Justice issued an opinion applying the Foreign Corrupt Practices Act to a Hollywood movie-like factual scenario relating to extortion and duress. The opinion is one of two FCPA opinions published within the last two years. Before those two opinions, DOJ had not published one since 2014. Publication of … Continue Reading

Judge Tosses FCPA Jury Verdict

On February 26, 2020, Judge Janet Bond Arterton, a federal judge for the District of Connecticut, overturned a former Alstom SA executive’s conviction under the Foreign Corrupt Practices Act (FCPA) relating to a project to build power plants in Indonesia. Judge Arterton found that, despite a jury verdict to the contrary, prosecutors failed to prove … Continue Reading

Company May Characterize Employee as a Compliance Risk

In certain circumstances, a company’s statement that one of its employees poses a significant and unacceptable compliance risk is not defamatory. According to a recent federal appellate decision, such a statement (made by a company while complying with a deferred prosecution agreement relating to Foreign Corrupt Practices Act (FCPA) violations) had no “provably false factual … Continue Reading

Ninth Circuit Limits Protections for FCPA Whistleblowers

The Ninth Circuit held that the anti-retaliation provisions of the Sarbanes-Oxley Act do not protect whistleblowers who make internal complaints about potential violations of the Foreign Corrupt Practices Act (FCPA). The court’s ruling limits the remedies available to employees who claim to have suffered adverse employment actions in retaliation for raising FCPA concerns.… Continue Reading

DOJ 2018 Policy Shifts in Review

In 2018, the US Department of Justice (DOJ) issued many important policy updates and rollouts that will have far-reaching impact. Our firm’s Alert provides an easily navigated yet detailed summary of developments. Policy Shifts at the Department of Justice – 2018 in Review focuses on government investigations and white collar prosecutions. The Alert covers:… Continue Reading

M & A and the FCPA in the New Year

Resolving corruption problems found during international mergers and acquisitions should be more certain in the New Year. Potential problems under the Foreign Corrupt Practices Act (FCPA) can be handled in light of guidance provided by the Department of Justice (the DOJ). … Continue Reading

DOJ Announces Revised FCPA Corporate Enforcement Policy

In late 2017, Deputy Attorney General Rosenstein announced a revised FCPA Corporate Enforcement Policy to be incorporated into the United States Attorneys’ Manual. With this revised policy, the Department of Justice (DOJ) aims to provide a level of certainty to companies in order to encourage voluntary disclosures of potential violations of the FCPA.… Continue Reading

SEC Staying the Course on FCPA Enforcement

In remarks at NYU’s Program on Corporate Compliance and Enforcement, Steven Peikin, the new Co-Director of the SEC’s Enforcement Division, voiced a question that has been on the minds of many anticorruption practitioners and compliance professionals: Will the SEC continue to be committed to robust FCPA enforcement?”   “My answer to that question is simple,” Peikin … Continue Reading

Rosenstein Pledges Reduced Regulation, Encourages Self-Reporting

U.S. Deputy Attorney General Rod Rosenstein pledged an enforcement environment in which businesses can thrive. In keynote remarks at the U.S. Chamber Institute for Legal Reform, he emphasized the Department of Justice’s (DOJ) commitment to “avoiding unnecessary interference in law-abiding enterprises.” Rosenstein also promoted the benefits of corporate compliance and self-reporting. Although allegedly offering “no breaking news” about DOJ policies, … Continue Reading

Law 1778, Colombia’s Latest Attempt at Bringing its Anti-bribery Laws into Compliance with the OECD Anti-bribery Convention

Since being elected in 2010, Colombian President Juan Manuel Santos has been trying to have Colombia become a member of the Organization for Economic Co-operation and Development (OECD). As part of this endeavor, in January 2011, Colombia formally applied to become a participant of the Working Group on Bribery in International Business Transactions (the “Working … Continue Reading

DOJ’s Criminal Division Launches new FCPA Pilot Program

In an effort to enhance its ability to investigate and prosecute Foreign Corrupt Practices Act (FCPA) cases, the Department of Justice’s (DOJ) Criminal Division has launched a new one-year FCPA pilot program effective April 5, 2016. The program has three main goals: Motivate companies to voluntarily self-disclose FCPA-related misconduct Motivate companies to fully cooperate with … Continue Reading

Deferred Prosecution Agreements: The Sign of Things to Come?

In a landmark decision, the first Deferred Prosecution Agreement (“DPA”) was approved  on Monday at the Royal Courts of Justice, by Lord Justice Leveson.  The DPA was introduced as a means of alternative disposal following a criminal investigation into a corporate organisation back in February 2014, under the Crime and Courts Act 2013[1]. It is … Continue Reading

Five Minutes on… Anti-Bribery and Corruption Laws in Europe

Anti-bribery and corruption has been a hot topic in the US for almost 40 years. The topic has historically however received much less attention within Europe. That is now changing as Europe is beginning to catch up and many European countries have already implemented anti-bribery laws much stricter than those in the US. Recent events … Continue Reading

The UK Serious Fraud Office (SFO) gets serious

Reports suggest that the SFO is currently investigating and prosecuting serious allegations of complex fraud and corruption. The announcement this spring that the SFO had started an investigation into the Bank of England’s actions following the rigging rumours, (as reported by the BBC amongst others) demonstrates its intention to pursue high-profile offenders. David Green, who … Continue Reading

GSK BRIBERY CASE – END OF THE MATTER?

This article was originally published by LexisNexis and is reproduced with permission. GlaxoSmithKline (GSK) has been fined £300 million and five of its employees given suspended prison sentences in China for bribery – but is this the end of the matter? What impact will the verdicts have on other multinational companies conducting business in China? … Continue Reading

Monthly China Anti-Bribery Update Report — January 2014

1. New law or regulation State level: No developments. Local level (Beijing & Shanghai): No developments. Communist Party Rules: (1) On January 16, 2014, the Communist Party of China (“CPC”) Central Committee issued the Regulation on Selection and Appointment of the Party and Government Leaders (the “Regulation”), which took effect on the same day and … Continue Reading
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