— Attorney Brett Johnson of Snell & Wilmer on what the proliferation of anti-corruption laws around the world means to multinational companies.
[C]ompanies must review which countries [they are] doing business with and ensure that the “umbrella” policy covers all those countries’ anti-corruption laws.
From FCPA attorney Tom Fox, at look at five key points for getting employees to buy into your compliance program:
- The tone at the top
- The tone within the organization
- Using HR to drive compliance into your company’s DNA
- The “fair process” doctrine
- Training and communications
Recap: What Anti-Corruption Authorities Want In-House Lawyers and Compliance Officers to Know About Enforcement
From Corporate Law Report:
Did you miss the 30th International Conference on the Foreign Corrupt Practices Act earlier this month? Not to worry: attorneys at Akin Gump have distilled some of the key discussions into a series of helpful updates on anti-corruption and bribery compliance.
According to Andrew Ceresney, co-director of the SEC’s enforcement division, the SEC also expects that FCPA violations will be “increasingly fertile ground” for the Dodd-Frank whistle-blower program.
[The] difference in handling privileged material creates a significant risk for companies being investigated in both the U.K. and the U.S. for allegedly corrupt activity.
Ms. Brockmeyer noted that people … can expect more SEC settled administrative procedure cases because under Dodd-Frank, the SEC can now obtain civil penalties in administrative cases. […] Ms. Brockmeyer also noted that increased enforcement of the so-called “books and records provision” of the FCPA could be expected.
— Attorneys from Akin Gump reporting on remarks from Kara Brockmeyer, Chief of the SEC’s FCPA Unit in the Division of Enforcement, at the 30th annual U.S. Foreign Corrupt Practices Act conference»
From attorneys at Akin Gump, the elements of an effective internal investigation, straight from the enforcers mouth:
Matthew Queler, Assistant Chief of DOJ’s FCPA Unit, and Tracy Price, Assistant Director of SEC’s FCPA Unit … gave rare insight into what enforcement attorneys look for from cooperating companies. In general, they conveyed their view that a robust internal investigation can enhance a company’s credibility with authorities, and their comments concerned varying stages of the process, spanning from the first “red flag” indicating a potential criminal issue to the process of cooperating with authorities and remediating violations.
What’s on their list?
- Building an investigative team
- Preservation of documents and other materials
- Sharing facts with authorities
- Remediation efforts
Regulators speaking at the American Conference Institute’s 30th International Conference on the Foreign Corrupt Practices Act tout large penalties, enhanced international cooperation…
A good recap from attorneys at Morgan Lewis of the American Conference Institute’s recent 30th International Conference on the Foreign Corrupt Practices Act (FCPA)»
In this era of aggressive FCPA enforcement, more and more companies are adopting anti-corruption compliance programs. The Department of Justice and the SEC have warned companies against adopting “paper compliance programs” without meaningful and consistent implementation.
But what exactly does that mean? From Michael Volkov, CEO of The Volkov Group, an in-depth look at how companies can improve their compliance programs to detect and prevent bribery.
The FCPA may have its flaws, but it is not anti-business.
[The Diebold settlement] opens the possibility that the DOJ and SEC will use the books and records provision to pursue commercial bribery by public companies. While such a move would be consistent with other international antibribery laws, it could require publicly listed companies to refocus their compliance efforts and resources.
Attorneys Mark Jensen and Matthew Riemer of Sheppard Mullin on the $48 million in penalties, disgorgement, and interest, and the 18-month compliance monitor imposed on Diebold for alleged bribery in China and Russia.
[Y]ou can design and implement all the fancy policies and procedures you want but if there is breakdown in the system used to justify a company expenditure, it is likely that the company is engaging, or will engage in bribery.
The SEC alleged that the company’s subsidiaries in five different countries—Argentina, Greece, Mexico, Poland, and Romania—bribed doctors, health care professionals, and other government officials to obtain or retain business. The alleged activities involved approximately $2.2 million in direct payments, travel and conference expenses, and donations to a university associated with a foreign official made over a four-and-a-half year period.
According to the indictment filed in the Southern District of California, Riedo, along with unidentified co-conspirators and agents, allegedly conspired to, and made, corrupt payments to Chinese government officials and falsely recorded those payments on Maxwell books and records in an effort to retain business, prestige and increased compensation.