News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
The DOJ announced in mid-January it now expects “extraordinary cooperation” from companies with FCPA problems, not just “full cooperation.” My question: Does anyone outside law departments and compliance understand what that means for individuals?… Continue Reading
Two compliance-related facts have emerged since the start of 2021, and they must be related. First, the DOJ’s enforcement priority has shifted to individuals who commit white-collar “corporate” crimes and away from the corporations themselves.… Continue Reading
The SFO’s investigation into the activities of Petrofac drew to a close on October 4, 2021. Following its guilty pleas, the company was sentenced for seven counts of failing to prevent bribery between 2011 and 2017.… Continue Reading
Why is cooperation in corporate enforcement actions such a big deal? Because from the outside, most companies are a black box. Without help, it’s impossible to know what happens inside.… Continue Reading
Last month, on the same day the DOJ and SEC imposed $3.3 billion in financial penalties against Goldman Sachs for 1MDB-related FCPA violations, Goldman’s board announced a plan to claw back $174 million from former and current executives.… Continue Reading
How to explain it? Beam Suntory’s 2018 FCPA civil settlement with the SEC went so well. The SEC praised the company’s cooperation and took into account its good behavior. And yet in 2020, when Beam Suntory finally resolved criminal FCPA charges, the DOJ brought faint praise and heavy criticism, citing the company’s “inconsistent and, at times, inadequate cooperation,” among other transgressions.… Continue Reading
The UK Serious Fraud Office published a five-page memo Tuesday that tells companies the steps they should take if they decide to cooperate with the agency in an investigation.
The guidance doesn’t guarantee leniency in return for cooperation but says charging decisions will take cooperation into account.… Continue Reading
The Commodity Futures Trading Commission (CFTC) said Wednesday it will work alongside of the DOJ and SEC to investigate foreign bribery and prosecute overseas corruption offenses.
In a March 6 Enforcement Advisory (pdf), the CFTC’s Division of Enforcement said commodities companies that self report violations of the Commodity Exchange Act involving foreign corrupt practices could receive declinations.… Continue Reading
The lawyer from Europe was quick to tell us what she thinks of the FCPA. “It’s really just a weapon against non-U.S. companies,” she said. “Very bad.”
As evidence she cited the FCPA Blog’s Top Ten list.… Continue Reading
A common refrain in the white collar bar is that American government agencies don’t often get along and play well together. This can result in challenging issues for companies doing business in the United States that have run afoul of the law.… Continue Reading
Deputy Attorney General Rod Rosenstein announced a new policy Wednesday that encourages coordination among DOJ departments and other enforcement agencies to avoid multiple penalties for the same conduct.
The aim is to avoid unfair duplicative penalties while keeping good relationships with law enforcement partners in the United States and abroad, Rosenstein said.… Continue Reading
Russian President Putin recently submitted a new anti-corruption bill to the Russian parliament.
The proposal has two significant aspects.
First, it would amend Article 19.28 of the Russian Code of Administrative Violations (which was previously amended in 2011 to impose liability on corporations for bribery, including domestic and foreign, public and private) to provide that companies can avoid liability in domestic bribery cases if
(i) they assist in the discovery or investigation of the bribe or
(ii) the bribe has been extorted. … Continue Reading