Tom Fox argues that the most significant developments for compliance professionals in 2020 were two noteworthy releases of information by the federal government: the Department of Justice’s update to the Evaluation of Corporate Compliance Programs, and its joint release with the SEC of a second edition of A Resource Guide to The U.S. Foreign Corrupt […]
Deutsche Bank will pay more than $130 million to resolve investigations into FCPA violations and commodities fraud. This sum consists of about $85 million...
Shearman & Sterling has published the latest issue of its bi-annual FCPA Digest report, highlighting how FCPA enforcement actions have fared amid a difficult year marked by the COVID-19 outbreak, the presidential elections, natural disasters and the ensuing disruptions of market and governmental activity. The highlights from 2020 include a record level of financial penalties; […]
On January 1, 2021, as part of its annual defense spending bill, U.S. Congress passed the Corporate Transparency Act, which requires certain domestic and...
In order to provide an overview for busy in-house counsel and compliance professionals, Morrison & Foerster summarizes some of the most important international anti-corruption...
The internal controls provision in the FCPA statute has broad application to a variety of situations beyond foreign bribery. The Securities and Exchange Commission knows full well the power of the internal controls provision and has readily applied it in a variety of circumstances. One recent example is the SEC’s settlement with Andeavor LLC for failure […]
Deck Won Kang of New Jersey pleaded guilty of paying $100,000 in bribes to a Korean government official for contracts to provide naval equipment and technology to the Defense Acquisition Program Administration, a state-run agency within South Korea’s Ministry of National Defense. Kang offered money to a procurement official in the Korean Navy, to be […]
In a recent podcast, K&L Gates white collar practitioners Neil Smith, William Semins, Nicole Stockey, and David Peet discuss their key takeaways from this year’s 37th International Conference on the Foreign Corrupt Practices Act. Listen to the podcast at K&L Gates
In the conclusion of a four-part series about the Department of Justice/Commodity Futures Trading Commission FCPA-involved enforcement action against Vitol Inc. over corruption in Brazil, Ecuador, and Mexico, Tom Fox considers some of the lessons learned from the case. Fox notes the separate enforcement action by the CFTC, and advises that “every compliance practitioner needs […]
Michael Volkov identifies several lessons to be learned from the DOJ/CFTC enforcement action and settlements involving Vitol Inc. Commodity trading markets presents significant corruption risks. The Petrobras and Petroecuador corruption scandals continue to reverberate through every sector of the energy industry, including valuable energy trading operations. The case underscores the value of tender and confidential, […]