When a company merges with or acquires another company, the successor company risks assuming the predecessor company’s liabilities, including any FCPA violations that occurred prior to the merger.
During a recent webinar sponsored by the Washington Legal Foundation, we explored the impacts intensive individual-focused criminal enforcement can have on an industry, using the recent history of criminal enforcement of food safety laws as a case study. … Continue Reading
The U.S. Securities and Exchange Commission has warned investment advisers and broker-dealers to comply with the Dodd-Frank whistleblower-protection rule.
The SEC’s office of compliance inspections and examinations said in a risk alert (pdf) it will look for illegal restrictions on individuals communicating with the SEC about potential securities law offenses.… Continue Reading
Saudi Aramco reportedly confirmed Friday that one of its employees took a bribe for arranging a deal with aircraft maker Embraer SA.
Saudi Aramco told the Wall Street Journal an internal investigation found that an unnamed employee took a bribe in 2010 for “facilitating the purchase of three aircraft from Embraer.” … Continue Reading
Two recent enforcement actions included disgorgements to the SEC that are among the ten biggest FCPA disgorgments of all time.
As part of its $412 million resolution with the DOJ and SEC in late September, hedge fund manger Och-Ziff Capital Management Group (and its affiliate OZ Africa Management GP LLC) agreed to disgorge about $199 million to the SEC.… Continue Reading
The DOJ’s Pilot Program to encourage companies to self report bribery and cooperate with prosecutors doesn’t fix some problems with FCPA investigations and enforcement actions, Lanny Breuer said Wednesday.
The vice chair of Covington & Burling and former U.S.… Continue Reading
We saw an interesting discussion this week on CCTV America’s news show The Heat.
It was about Wells Fargo, Mylan, and other fresh corporate scandals sweeping the country.
Our contributing editor Richard Bistrong was part of The Heat panel.… Continue Reading
Two former employees of a company that operates a chain of skilled nursing facilities across the country were awarded $29 million as part of a False Claims Act settlement.
Tammie Taylor and Glenda Martin formerly worked for Life Care Centers of America Inc.… Continue Reading
A federal appeals court this month disqualified the BakerHostetler law firm and one of its partners from representing a firm linked to the tax fraud Russian lawyer Sergei Magnitsky exposed before he died in a Russian prison.… Continue Reading
Brazilian aircraft manufacturer Embraer SA is paying more than $205 million to the DOJ and SEC to resolve violations of the Foreign Corrupt Practices Act.
Embraer bribed officials in the Dominican Republic, Saudi Arabia, and Mozambique.… Continue Reading
Sweden’s Telia Company said in a quarterly report released Friday that it has recorded a provision of $1.45 billion to settle investigations by U.S. and Dutch authorities of bribery in Uzbekistan. … Continue Reading