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
Shruti J. Shah
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
In a November 29 press release that was also part of an SEC filing, Walmart Inc. announced the impending retirement of CFO Brett Biggs. The release said Mr. Biggs, 53, who joined Walmart 22 years ago and became CFO in late 2015, will leave in January 2023.… Continue Reading
Last month, the Commodity Futures Trading Commission ordered JPMorgan Chase & Company and its subsidiaries to pay a total of $920.2 million for artificially manipulating market prices of precious metals by sending false signals to other market participants.… Continue Reading
Earlier this month, the Brazilian Minister of Justice Sergio Moro presented a bill proposing an “anticrime package,” establishing “measures against corruption, organized crime and crimes committed with serious violence.”
The bill proposes modifications in fourteen laws, ensuring the enforcement of the conviction after an appellate court judgment, increasing the effectiveness of the jury, guaranteeing the serving of the sentences, increasing the penalties for crimes related to firearms, reforming the crime of “resistance,” and criminalizing slush funds.… Continue Reading
The DOJ and SEC assessed penalties and disgorgement of $1.78 billion Thursday against Brazil’s state energy company to resolve FCPA violations involving massive bribes to politicians and political parties in Brazil.… Continue Reading
You would expect investors to be pleased and optimist when their company resolves an FCPA case by paying relatively moderate penalties and landing a DOJ non-prosecution agreement.
Good news, the dark cloud is gone.… Continue Reading
The Securities and Exchange Commission said Tuesday that Kara Novaco Brockmeyer, Chief of the Enforcement Division’s Foreign Corrupt Practices Act Unit, is planning to leave the agency later this month.
Since 2011, Brockmeyer has led 38 lawyers at the SEC as well as staff accountants and other specialists focusing on violations of the anti-bribery and accounting provisions of the FCPA embedded in the federal securities laws.… Continue Reading
The Securities and Exchange Commission Tuesday announced non-prosecution agreements (NPAs) with two unrelated companies for bribes foreign subsidiaries paid to Chinese officials.
Massachusetts-based internet services provider Akamai Technologies agreed to pay about $652,000 in disgorgement and about $19,400 in interest. … Continue Reading
Two China units of Massachusetts software company PTC Inc. entered into a non-prosecution agreement and paid a $14.5 million criminal penalty Tuesday to resolve a DOJ investigation into payments for recreational travel by Chinese government officials that violated the Foreign Corrupt Practices Act.… Continue Reading
One of the oft-made criticisms regarding the Department of Justice (DOJ) around its enforcement of the Foreign Corrupt Practices Act (FCPA) is its the use of Deferred Prosecution Agreements (DPAs) and Non-Prosecution Agreements (NPAs) somehow pervert the course of justice.… Continue Reading
The SEC said Tuesday it was entering into a deferred prosecution agreement with a former hedge fund administrator named Scott Herckis who helped the agency end a fraud involving a hedge fund manager stealing investor assets.… Continue Reading
Some members of Congress are evidently concerned that corporate defendants are getting off the hook. Too many deferred- and non-prosecution agreements, and not enough criminal indictments.
So acting assistant AG Mythili Raman, who’s now heading the DOJ’s criminal division, testified Wednesday before the U.S.… Continue Reading
In a special SEC filing, Ralph Lauren Corporation described its resolution Monday of FCPA offenses with the DOJ and SEC by the first-ever use of dual non-prosecution agreements.
Here’s our post about the history-making settlement.… Continue Reading
