Sunday, September 27, 2020

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Pactiv Evergreen Discloses Potential FCPA Violations in IPO Filing

Pactiv Evergreen Inc., a packaging maker preparing for an IPO, disclosed in a prospective filed with the SEC that it had identified practices in its Shanghai unit that may have violated the FCPA. The division occasionally gave gift cards of “relatively minor monetary values” to Chinese regulators or employees of state-owned companies over several years. […]
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Violating the FCPA May Trigger Other U.S. Laws Such as the Travel Act

If conduct by an entity or individual intersects the FCPA’s anti-bribery or accounting provisions, that conduct also may violate the Travel Act, even if all the elements of an FCPA violation are not present, according to FCPA: A Resource Guide to the U.S. Foreign Corrupt Practices Act, Second Edition. The Travel Act prohibits using the […]
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Herbalife Settles FCPA Charges and Agrees to Pay $123 Million (Part I of III)

In the first of a three-part blog series, Michael Volkov examines the recent settlement agreement between the government and Herbalife Nutrition Ltd., which resolved charges the company violated the FCPA’s books and records provisions.  Volkov describes the nature of the bribery scheme and DOJ’s enforcement action, Read the full post at Volkov Law
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The Significance of Opinion Release 20-01

For the first time in six years, the Department of Justice has released an Opinion Release, denominated 20-01, with the subject Foreign Corrupt Practices Act Review. The opinion states the position of DOJ on the circumstances of a multinational corporation purchasing assets of foreign investment bank, and paying another subsidiary of that bank to facilitate […]
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Herbalife Nutrition Ltd. Agrees to Pay Over $122 Million to Resolve FCPA Case

Herbalife Nutrition Ltd. has agreed to pay more than $122 million to resolve the government’s FCPA investigation into a scheme to falsify books and records and provide corrupt payments and benefits to Chinese government officials to advance Herbalife’s business in China. This includes a criminal penalty of over $55 million and approximately $67 million to […]
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Volkov on the Evolution of FCPA Enforcement

In the latest episode of the FCPA Compliance Report podcast, Tom Fox interviews Mike Volkov, as they look back at FCPA enforcement over the past decade. Some of the highlights of their conversation include: A discussion about the Father of the FCPA, Judge Stanley Sporkin, and the beginnings of cooperation credit under the current FCPA […]
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DOJ Issues Long-Awaited FCPA Advisory Opinion

On August 14, 2020, for the first time in roughly six years, the US Department of Justice issued an advisory opinion regarding compliance with the Foreign Corrupt Practices Act. More than two years ago, former Assistant Attorney General Matthew Miner urged companies to seek opinions from DOJ while undertaking mergers and acquisitions activity to determine […]
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Individual Prosecutions Under the FCPA – More Trials and More Caselaw

Hogan Lovells looks at the rate of individual FCPA prosecutions, which has markedly increased over the last five years. In the first half of the past decade, charges were brought against 84 individuals and 137 corporations, but in 2015–2019, 144 individuals and 126 corporations were charged. This represents a shift from about 38 percent of […]
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DOJ Releases First FCPA Advisory Opinion in Six Years

On August 14, 2020, the Department of Justice (DOJ) released its first Foreign Corrupt Practices Act advisory opinion since 2014. The new opinion, formally known as an “Opinion Procedure Release,” was requested by a US investment firm seeking to pay a foreign state-owned bank for “certain enumerated analytical and advisory” services. While the conduct at […]
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A Long Time Coming: DOJ Issues First FCPA Advisory Opinion in Six Years

On August 14, 2020, the Department of Justice issued a Foreign Corrupt Practices Act Advisory Opinion—the first of its kind in nearly six years. The DOJ’s opinion advised a U.S. investment company that the transaction fee is paid to a foreign state-owned bank’s subsidiary would not trigger an FCPA enforcement action. The FCPA generally prohibits […]
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