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
Posts Tagged: Remediation
A report released Wednesday by Transparency International Canada recommends the government consider adopting legislation to create a deferred prosecution agreement scheme as a way to increase transparency and promote compliance.
“In the Canadian context, DPAs, if properly designed and implemented, have the potential to support increased enforcement of anti-corruption laws and increased self-disclosure and compliance by corporations,” TI-Canada said.… Continue Reading
Argentina is experiencing a political and economic renaissance that’s drastically changing its business landscape. There’s a new focus on open markets, transparency and accountability in both the public and private sectors.… Continue Reading
Key Energy Services, Inc. resolved an SEC enforcement action Friday by disgorging $5 million but not paying any other penalties.
The company’s Mexico unit had bribed an employee at state-owned Pemex for at least four years.… Continue Reading
In-house counsel, compliance officers and the external counsel who support them are trained to be risk averse when it comes to anti-corruption and other types of compliance, and with good reason.… Continue Reading
For only the second time in FCPA history, the DOJ Monday made a public announcement that it wouldn’t prosecute a company that cooperated in building a case against a former officer.… Continue Reading
Aaron Bornstein wrote in the prior post of the potential to use recovered bribe proceeds or stolen assets to fund BOTA-inspired programs in developing countries. That possibility is real, and important. … Continue Reading
The BOTA Foundation was able to take the $115 million from the corruption case associated with James GIffen and use it effectively and efficiently to assist more than 200,000 poor children, youth and their families in Kazakhstan. … Continue Reading
BOTA had three programs, with its largest, the Conditional Cash Transfer (CCT) Program, briefly explained in the previous post. Funds from the Pictet and Cie bank account associated with James Giffen and President Nazarbayev were used in two other ways to help poor children and youth in Kazakhstan: via a NGO grants program, called the Social Service Program (SSP), and through a scholarship program known as the Tuition Assistance Program (TAP). … Continue Reading
The background of BOTA Foundation was explored in previous posts. Starting with this post I would like to explain what BOTA actually did in its five and a half years of operation.… Continue Reading
BOTA was the first foundation ever established as a result of an FCPA case, and the question explored in this post is how it was set up.
There are two important facts to keep in mind as background: Kazakhstan was in a disadvantaged position in the negotiations (it needed BOTA to solve a political problem discussed in Part Three); and, the U.S.… Continue Reading