At least eight companies have self-reported potential Foreign Corrupt Practices Act violations since the US Department of Justice announced its new leniency programme in April, according to an analysis by Just Anti-Corruption.
Embraer, an aerospace company, has agreed to pay US$205 million as part of the first-ever Foreign Corrupt Practices Act settlement to account for parallel enforcement proceedings in Brazil.
California-based life sciences company Bio-Rad Laboratories has moved to block testimony from its former general counsel, Sanford Wadler, in a retaliation lawsuit raising “novel and important” privilege questions about what information can be presented at trial.
24 October 2016: In today’s news, federal Judge William Pauley rejects three monitor candidates in favour of his own choice; Biomet delays the deadline for concluding FCPA settlement negotiations: and foreign bribery convict Dmitrij Harder’s sentencing is postponed.
In what appears to be a vote of confidence for the FCPA pilot programme, which was introduced in April to encourage companies to confess foreign bribery violations, a second section of the DOJ has now implemented its own version of the self-reporting scheme.
A ruling by the DC appeals circuit that judges cannot reject deferred prosecution agreements is irrelevant to the ongoing fight over the unsealing of HSBC’s monitor report, lawyers advocating for the document’s release have argued.
Top officials from the US Department of Justice and Securities and Exchange Commission have spoken positively of the ISO's standard for anti-bribery compliance. But since its release in October defence lawyers have voiced scepticism about the standard's importance.
20 October 2016: In today’s news round-up, US Attorney General Loretta Lynch highlights the need for international cooperation in the fight against corruption; a US anti-money laundering official warns that the DOJ is looking to bring civil cases against individuals; and Russia prepares to bring charges against former public officials for defrauding car maker Daimler.
Lennox International, which manufactures climate control products for the heating, ventilation, air conditioning and refrigeration, has reported a possible Foreign Corrupt Practices Act violation to the US government, after discovering a potentially improper payment of just US$475.
19 October 2016: In the latest news round-up, the SEC’s Foreign Corrupt Practices unit supervised the regulator’s settlement with EY over its auditing of Weatherford International, and a judge rules on the use of expert testimony in a whistleblower lawsuit against Bio-Rad Laboratories.
Pursuing foreign nationals at the top of the corporate hierarchy is notoriously difficult in Foreign Corrupt Practices Act cases. But a September ruling by a Manhattan judge may have made it easier, in some instances, for the US Securities and Exchange Commission.
Companies seeking a declination should factor in that their wrongdoing could be exposed to the public by the US Department of Justice, say lawyers, as the lines between a traditional declination and a non-prosecution agreement blur.
A Manhattan federal judge on 30 September also ruled that the US Securities and Exchange Commission has jurisdiction to bring FCPA charges against overseas employees who help prepare falsified SEC filings.
Just Anti-Corruption publishes a transcript of the Securities and Exchange Commission's conference call with journalists about the Foreign Corrupt Practices Act administrative proceedings against hedge fund Och-Ziff Capital Management Group.
The US Department of Justice on 29 September issued declinations to two companies, imposing disgorgement for the first time under the FCPA pilot programme in the absence of a parallel action by its civil enforcement partner, the Securities and Exchange Commission.
The Foreign Corrupt Practices Act unit of the US Department of Justice’s criminal division fraud section has hired three prosecutors, including a former Jones Day associate based in Brazil.