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Join the Securities Litigation and Enforcement Group on LinkedInA Focus on Victims’ Rights Leads to Investor Payouts in Credit Suisse Case – WSJ
For two decades, federal prosecutors have aggressively prosecuted companies and executives that pay bribes to win business overseas, most often through use of the Foreign Corrupt Practices Act, an antibribery law passed in 1977. But rarely have they sought to identify specific victims of corruption. That’s starting to change. After a surprise appearance by aggrieved […]
The Gap In SEC Individual FCPA Enforcement Actions Is Approaching Two Years – FCPA Professor
For many years, SEC enforcement officials have talked about the importance of individual FCPA enforcement actions and set forth below are representative quotes from over the years. *** The last individual FCPA enforcement action by the SEC occurred on October 14, 2020 (a gap that is approaching two years) – see here. This nearly two year […]
SEC Charges Global Steel Pipe Manufacturer with Violating Foreign Corrupt Practices Act
The Securities and Exchange Commission today announced that Tenaris, a Luxembourg-based global manufacturer and supplier of steel pipe products, will pay more than $78 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) in connection with a bribery scheme involving its Brazilian subsidiary. According to the SEC’s order, the resolution with […]
It Has Been Over 1.5 Years Since The SEC Has Brought An Individual FCPA Enforcement Action – FCPA Professor
The last individual FCPA enforcement action by the SEC occurred on October 14, 2020 (more than 1.5 years ago) – see here. This one year gap is the most significant gap in individual FCPA enforcement by the SEC in nearly a decade. Since late October, 2020 there have been six corporate SEC FCPA enforcement actions and […]
It’s A Joke How Long Companies Are Typically Under FCPA Scrutiny – FCPA Professor
Albemarle’s long-lasting scrutiny is not unique as 4-4.5 years is the approximate median amount of time companies that disclose FCPA scrutiny remain under scrutiny in the FCPA’s modern era (and this was occurring long before any potential COVID-19 impact on government inquiries). It’s a joke that companies are under FCPA scrutiny for so long particularly […]
FCPA “Tips” Continue To Be A Minor Component Of The SEC’s Whistleblower Program – FCPA Professor
Recently, the SEC released its annual report for FY2021 and, like the prior ten years, FCPA “tips” continue to be a minor component of the SEC’s whistleblower program. Specifically, according to the SEC’s report, of the 12,200 whistleblower tips received by the SEC in FY2021, 258 (2.1%) related to the FCPA. This percentage of FCPA “tips” vs. overall tips […]
Senior DOJ official Daniel Kahn to rejoin Davis Polk as partner | Davis Polk
Davis Polk today announced that veteran prosecutor and senior Department of Justice official Daniel Kahn will join the firm as a partner in the White Collar Defense & Investigations practice in Washington DC. He will focus on representing clients in criminal and regulatory investigations, as well as in civil and criminal trials. Source: Senior DOJ […]
SEC Charges World’s Largest Advertising Group with FCPA Violations
According to the SEC’s order, WPP implemented an aggressive business growth strategy that included acquiring majority interests in many localized advertising agencies in high-risk markets. The order finds that WPP failed to ensure that these subsidiaries implemented WPP’s internal accounting controls and compliance policies, instead allowing the founders and CEOs of the acquired entities to […]
Joe Walker Joins Orrick’s White Collar Team
Orrick announced today that Joe Walker, one of the nation’s leading white collar and regulatory compliance advisers and former U.S. Department of Justice (DOJ) trial lawyer, has joined the firm as a partner in Washington, D.C. Joe is on the short-list of go-to lawyers in guiding companies through complex global government investigations, with particular focus […]
Linklaters hires Richard C. Smith, market-leading trial and white collar lawyer | Linklaters
Linklaters is pleased to announce that Richard C. Smith has joined the firm’s Washington, D.C. office as partner in the Dispute Resolution practice. Richard focuses on complex litigation, white collar criminal defense, and U.S.-centric and transnational corporate internal investigations for public and private companies. He has extensive experience representing corporations and their employees in grand […]