Thursday, May 28, 2020

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Trump’s Ukraine Intervention May Violate FCPA, Arms Export Laws: Experts

According to two experts in international weapons sales, Donald Trump’s intervention in the sale of weapons and provision of military aid to Ukraine is definitely a violation of convention, and may have violated laws governing military sales and international business. The nearly $400 million in aid was approved by the Departments of State and Defense, […]
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Ericsson Reserves $1.2 Billion for FCPA Settlement

Swedish telecom giant Ericsson is reserving around $1.2 billion to resolve an expected FCPA enforcement action by the DOJ and SEC regarding possible violations in China, Djibouti, Indonesia, Kuwait, Saudi Arabia, and Vietnam. Ericsson is cooperating with the U.S. agencies, and said the breaches were the result of several deficiencies, including a failure to react […]
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FCPA Needs Demand-Side Language

Mike Koehler argues that the proposed Foreign Extortion Prevention Act would lead to several areas of incongruity between “bribe” payor liability (what the FCPA captures) and “bribe” demander liability (what the FEPA seeks to capture). He argues that, instead of passing this legislation, if Congress determines that a demand-side prohibition of bribery is needed, it […]
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Former Cognizant COO Resolves FCPA offenses

Sridhar Thiruvengadam, the former chief operating officer of New Jersey-based Cognizant Technology Solutions Corporation, has settled charges that he violated the Foreign Corrupt Practices Act by helping to bribe an Indian government official and then covering up the payment. He paid a penalty of $50,000 and agreed to cooperate with the SEC. A senior official […]
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SEC Closes Foreign Bribery Probe Into Ciena

Ciena Corp. reports that the SEC has closed an FCPA investigation of the company, following the December closure of a parallel criminal investigation by the Justice Department. The investigations trace back to a voluntary disclosure that Ciena made to the agencies in 2017. Ciena said at the time that one of its third-party vendors had […]
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Settlement Only Questionably “Favorable”

The law firm which represented Juniper Networks in the recent $11.7 million FCPA enforcement action against it, has issued a release about the case, referring to it as “such a favorable resolution.” Mike Koehler is puzzled by this characterization, and even the firm’s choice to publicize its involvement in a case, whose outcome he describes […]
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SEC Chair Clayton Says FCPA May Not be Working as Intended

Mike Koehler comments on recent remarks by SEC Chairman Jay Clayton that touch on his own recurring questions of whether the Foreign Corrupt Practices Act has been successful in achieving its objectives, and whether country exits in the aftermath of FCPA scrutiny or enforcement are a good thing or not. He says that Clayton “offered […]
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FCPA Professor Talks to Patrick Campbell About SCOTUS Gamble Decision and FCPA Implications

The latest 15-minute FCPA Flash episode is a conversation with Patrick Campbell of BakerHostetler, regarding an article he recently co-authored about the Supreme Court’s...

FCPA Defendant, Whose Conspiracy Precipitated a Corporate Takeover, Must Pay Restitution to Shareholders of...

Over the objections of the Department of Justice, the district court for the Eastern District of New York ruled that shareholders of a company...

The Juniper Networks and Deutsche Bank SEC Settlements and the Ng Lap Seng Appellate...

In a new podcast, Michael Volkov provides an update on FCPA issues, including: (1) Juniper Networks’ FCPA settlement with the SEC for $11.7 million for conduct in Russia and China: (2) Deutsche Bank’s FCPA settlement with the SEC for $16 million for hiring of relatives of foreign officials in China and Russia; and (3) the […]
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