Growing up in the People’s Republic of China, I often heard the proverb, “water that is too clean has no fish.” Sadly, the adage is a rationalization for corruption. It claims that ethical business doesn’t yield profits.… Continue Reading
Posts Tagged: Foreign Companies
After conducting statistical analysis on Foreign Corrupt Practices Act penalties, it’s clear that foreign firms are paying nearly four times higher FCPA penalties as domestic U.S. firms.
In “The Extraterritorial Application of the Foreign Corrupt Practices Act” I explore the proposition that the U.S.… Continue Reading
Listing shares internationally often carries unwelcome regulatory and compliance risks. This was recently highlighted by the SFO’s corruption probe into the London-listed Kazakh miner ENRC, shortly to be delisted, as well as probes into Indonesia miner and London-listed Bumi plc, and most recently by the SEC’s investigation of South Africa’s Gold Fields, which has a secondary New York listing.… Continue Reading
Hobbies are important and we try to make time for ours — staring at the list of the biggest FCPA cases of all time.
Stare long enough, we’re convinced, and you can learn most of what’s important about FCPA compliance and enforcement.… Continue Reading
Foreign corporate prosecutions can involve headline-grabbing multimillion dollar fines, international corporate scandals, and even diplomatic intrigue. Over the past two decades, federal prosecutors have focused their attention on international antitrust cartels, bribery of foreign governments, ocean dumping, and other crimes that involve corporate conduct abroad.… Continue Reading
By Ryan Morgan
Last week the DOJ filed a reply brief in U.S. v. Lindsey Manufacturing on the issue of who’s a “foreign official” under the FCPA.
The DOJ makes a compelling argument that Comisión Federal de Electricidad is not only a state-owned enterprise but essentially an agency of the Mexican government itself.… Continue Reading
It’s not hard to find reasons why the DOJ and SEC would rather prosecute corporations instead of individuals.
Here are a few:
… Continue Reading
Corporations can’t defend themselves. They’re strictly liable under respondeat superior for crimes committed by employees in the scope of their jobs.