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
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.
Second, the proposal would allow courts to freeze the property of corporations under investigation for bribery up to the maximum amount of possible fine.
Given Russian practice, we can expect the amendments to pass relatively quickly and with few changes.… Continue Reading
Studies that use statistical analysis to examine various FCPA outcomes are becoming more common. In one such paper entitled “Punishing the Penitent: Disproportionate Fines in Recent FCPA Enforcements and Suggested Improvements,” the author attempted to determine whether companies who voluntarily disclosed FCPA transgressions received a benefit in their fine calculation.… Continue Reading
By almost any measure, the new FCPA enforcement policy is an important and positive development. Tom Fox, Bill Steinman, George Terwilliger, and others both here and beyond have noted as much, and I rise in concurrence.… Continue Reading
FCPA investigators routinely face obstacles to gathering data from non-company email and messaging apps. In particular, such communications are often not stored on company devices, and where files exist, they may be encrypted or otherwise difficult to open.
Outside messaging apps, such as Snapchat and Wickr may automatically delete messages after a few seconds or days precisely so that users can keep their communications confidential.
Outside email accounts are also difficult to access and present obvious data privacy issues.… Continue Reading
FCPA practitioners welcomed Rod Rosenstein’s announcement that the Department of Justice has made the FCPA Pilot Program permanent, and incorporated it into the U.S. Attorneys’ Manual. In the words of one of my colleagues, the audience “noticeably lightened up” at the Deputy AG’s news.
Now that we’ve had an opportunity to digest the newly-styled FCPA Corporate Enforcement Policy, let’s examine some of the key differences from the original 2016 FCPA Pilot Program.
1.… Continue Reading