Friday, January 22, 2021

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U.S. Justice Department Ends Oversight of Brazil’s Odebrecht

An independent monitor has certified Odebrecht SA’s antibribery compliance program, closing a 3.5-year monitorship imposed in a settlement with the United States, which resolved allegations that the company paid hundreds of millions of dollars in bribes to public officials in Brazil and elsewhere to win lucrative infrastructure contracts. Odebrecht reports that the monitor has certified […]
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The UK Serious Fraud Office Internal Guidance on Deferred Prosecution Agreements

The UK Serious Fraud Office (SFO) recently published a new chapter in its internal Operational Handbook, which provides guidance on the SFO’s approach to Deferred Prosecution Agreements (DPAs). “Over the past six years, we at the SFO have been developing our approach to negotiating and entering into DPAs, and in turn, establishing best practice,” remarked […]
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What Might The BA And Marriott Fines Tell Us About The ICO’s Approach To...

The final penalties in the BA and Marriott cases were very much lower than the £183+ million and £99+ million proposed in the original notices of intent: not much more than 10 percent and 18 percent, respectively. Allen & Overy’s David Smith argues that these lower penalties might seem more proportionate to the offenses, but […]
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U.K.’s SFO Investigating Plane Maker Bombardier Over Possible Bribery

The United Kingdom’s Serious Fraud Office is investigating Bombardier Inc. of Canada over alleged bribery and corruption in deals with airline PT Garuda Indonesia. Bombardier disclosed the investigation in its quarterly financial statements. The plane and train maker said it had launched an internal review of transactions with Garuda – including the acquisition and lease […]
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U.K.’s SFO Reaches Deferred Prosecution Agreement With Airline Services

A judge in the United Kingdom has approved a deferred prosecution agreement between the Serious Fraud Office and Airline Services Ltd., a defunct Manchester-based commercial aircraft interior refurbisher. Airline Services admitted to three counts of failure to prevent bribery arising from its alleged use of an agent to win contracts to reequip airliners for Deutsche […]
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Pfizer Receives Inquiry From SEC Bribery Unit

Pfizer disclosed in a new financial statement that it received an inquiry from the SEC’s foreign-bribery unit regarding its operations in China. This follows other informal requests for information by the SEC and the DOJ related to the drug maker’s business in China and Russia, from the agencies’ Foreign Corrupt Practices Act units. Pfizer said […]
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World Bank’s “Major Initiative” Should Enhance Evaluations Of Corporate Compliance Programs

During a roundtable at the Fifth International Debarment Colloquium last month, Joseph Mauro, a spokesperson for the Compliance Unit of the World Bank Group’s Integrity Vice Presidency, announced recent changes to the manner in which the World Bank will evaluate borrowers’ compliance programs in future corruption investigations. This comment sheds light on the often overlooked […]
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World Bank Debars German Manufacturer for Fraud, Collusion, and Corruption

The World Bank has issued a 30-month debarment against German water maintenance equipment manufacturer Berky GmbH and five subsidiaries, in connection with fraud, collusion, and corruption in a $100 million project to improve management and development of the Ayeyarwady River Basin and national water resources in Myanmar. In violation of World Bank standards, Berky: provided […]
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UK Enforcement: Should Corporate DPAs Name ‘Culpable’ Individuals?

The UK Serious Fraud Office recently published a chapter from its internal handbook on how it engages with companies seeking to enter into a Deferred Prosecution Agreement. A new section addresses the rights of third parties, a topic notably absent from the legislation and DPA Code of Practice. DPAs in the United states and enforcement […]
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World Bank Purports to Move From “Stick” to “Carrot” Approach on Compliance

A compliance specialist at the World Bank has described efforts by the organization to move from a “stick” to a “carrot” approach with respect to corporate compliance programs. In place for most the last year, the initiative is intended to create incentives for companies to adopt compliance programs prior to allegations of misconduct. The Integrity Compliance […]
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