Monday, April 6, 2020

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Cardinal Health Settles for $8.8 Million With SEC in FCPA Case

Cardinal Health Inc. has agreed to pay about $8.8 million to settle SEC claims that it didn’t have sufficient internal accounting controls in place to detect alleged Foreign Corrupt Practices Act violations. The Ohio-based pharmaceutical distributor allegedly failed to detect improper transactions made to employees of its former Chinese pharmaceutical and medical-device distribution subsidiary, Cardinal […]
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The Hoskins FCPA Verdict

In this 5-minute edition of Daily Compliance News, Tom Fox discusses: The SEC chair’s vote against penalizing Wells Fargo The CFPB’s decision to protect debt holders, not consumers The Hoskins FCPA convictions being overturned by trial court Listen to the podcast at FCPA Compliance Report
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Separate E-mails In Same Bribery Scheme Are Separate “Units Of Prosecution”

In the recent indictment of Cognizant Technology Solutions executives Gordon Coburn and Steven Schwartz on various FCPA offenses, the judge ruled that separate e-mails – even if in connection with the same alleged bribery scheme – constitute separate violations of the FCPA’s anti-bribery provisions. Citing mail and wire fraud statutes for precedent, the judge stated […]
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Court Reverses Foreign National’s FCPA Conviction, Setting a High Bar to Establish an Agency...

A ruling issued on Wednesday, February 26 by a Connecticut federal court details the type of control necessary to find that a foreign national acted as an agent of a U.S. domestic concern for purposes of falling within the coverage of the Foreign Corrupt Practices Act (FCPA).  The decision curtails the U.S. Department of Justice’s […]
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Former Alstom Executive Wins Acquittal of FCPA Counts

On February 26, 2020, a Connecticut federal judge overturned a former Alstom SA executive’s foreign bribery convictions after finding that prosecutors had failed to prove that the defendant was an agent of the company’s United States subsidiary. The court let stand the executive’s convictions on four money laundering counts. While the judge’s decision does not […]
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Four Ways the DOJ Sidesteps the FCPA Statute of Limitations

The Department of Justice recently unsealed an indictment against two former executives of the Indonesian subsidiary of Alstom S.A. and a former executive of Marubeni Corporation, for alleged misconduct that occurred largely in 2002-2007. With a standard five-year statute of limitations for FCPA charges, the DOJ employed several notable legal strategies to reach conduct from […]
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“World’s Most Ethical” Companies Include Those Investigated Under FCPA

Mike Koehler argues that it is often incorrect to conclude that a company that has resolved FCPA enforcement actions, or been under under FCPA scrutiny, is a bad or unethical company. He notes that that a company with pre-existing FCPA compliance policies and procedures – and otherwise making good faith efforts to comply with the […]
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Hoskins Wins Acquittal on FCPA Counts

A federal judge has partially acquitted former Alstom S.A. executive Lawrence Hoskins, who had been convicted by a federal jury in November of bribing officials in Indonesia. The judge ruled that prosecutors had failed to prove Hoskins violated the Foreign Corrupt Practices Act by acting as an agent of Alstom’s Connecticut subsidiary, but let stand […]
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How Do You Calculate FCPA Settlement Amounts?

When calculating FCPA-related settlement amounts, the total is theoretically the sum of the DOJ and SEC orders. But as Harry Cassin explains, that isn’t the amount actually paid to the U.S. Treasury, which may be considerably smaller. Furthermore, there may be penalties paid to other agencies. Using as examples the recent international settlement with Airbus, […]
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Airbus Settlement: Part 7 – The French Enforcement Action

In his next installment looking at the Airbus international anti-corruption enforcement action, Tom Fox considers the French Judicial Public Interest Agreement. The French court has ordered a fine and penalty of over €2 billion (approximately US$2.3 billion) and targeted audits to ensure that the compliance program implemented during the pendency of the investigation has been […]
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