After a lengthy battle, the Securities and Exchange Commission issued rules on 27 June requiring companies in the extractive industry to publicly disclose payments to foreign governments, increasing FCPA regulatory scrutiny.
29 June 2016: In the latest news round-up, the US Supreme Court’s recent RICO ruling could strengthen the Justice Department’s corruption case tied to Fifa, and China seeks to improve its enforcement cooperation with western countries.
A ruling by the US Supreme Court could give defence lawyers leverage to fight back against expansive interpretations of the Foreign Corrupt Practices Act.
28 June 2016: In the FCPA news today, the SEC issued its final rules on requiring extraction companies to disclose payments to foreign governments, and Olympus says an internal investigation finds the company did not bribe Chinese officials.
A senior FBI anti-corruption official has warned that firms’ compliance culture will only change if investigators target corporate executives.
Foley & Lardner announced on 23 June that Zaldwaynaka Scott has joined the firm’s white-collar practice in Chicago as partner.
24 June 2016: In today’s FCPA news, the US Court of Appeals for the Third Circuit rejects Dmitrij Harder’s appeal to have his bail motion reconsidered, and ExxonMobil’s deal to secure access to Nigerian oil reserves is under scrutiny.
The former attorney general Michael Mukasey, now counsel at Debevoise & Plimpton, said a recently failed prosecution against the CEO of a medical device company shows the dangers of the Yates Memo.
23 June 2016: In the latest news round-up, the former president to the UN general assembly, John Ashe, dies amid an ongoing bribery case, and lawyers are already looking to utilise the Supreme Court’s recent RICO ruling to their advantage.
The US Chamber of Commerce lobbied the DOJ criminal division fraud section for policy changes that were later incorporated into the FCPA pilot programme, according to disclosure reports and interviews.
Why hopes in the US of finding a meaningful link between international cartels and foreign corruption are misplaced.
An appeals court ruling has weakened the SEC’s ability to demand disgorgement – the main tool the regulator uses to obtain huge sums of money from companies in FCPA cases.
A subsidiary of Berger Group Holdings is back in the running for a US Navy contract after a federal claims court judge reversed his decision to disqualify the engineering company for failing to disclose a Foreign Corrupt Practices Act investigation.
The Panama Papers will enable prosecutors to make targeted and effective mutual legal assistance requests, speeding up pre-existing investigations and potentially reigniting old, forgotten cases, lawyers have said.
Just Anti-Corruption is unveiling a fully updated FCPA Enforcer Profiles section, including all prosecutors hired under a wave of new staffing promised by Assistant Attorney General Leslie Caldwell.
Contrary to what many defence lawyers believe, the IRS has indicated there are strict limits on when a company can claim that an SEC disgorgement payment is tax deductible.