In a striking rebuke, the U.K. Supreme Court found that the U.K. Serious Fraud Office (“SFO”) overstepped its authority when it tried to access corporate documents from the United States.
A recurring question of general counsel and chief compliance officers is whether their proactive investments in compliance programs, voluntary self-disclosure of issues, and cooperation will be meaningfully rewarded.
On June 25, 2020, Novartis AG, a Swiss multinational pharmaceutical company, and two subsidiaries reached a combined $345 million resolution with the U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“the SEC”) to resolve alleged Foreign Corrupt Practices Act (“FCPA”) violations involving the companies’ operations in Greece, Vietnam, and South Korea. The multimillion dollar resolution demonstrates that, even in the midst of a global pandemic that has had DOJ and SEC prosecutors working from home, they remain steadfast in their pursuit of FCPA cases.
On July 3, 2020, the U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) published the Second Edition of “FCPA: A Resource Guide to the U.S. Foreign Corrupt Practices Act” (the “Guide”).
The SEC’s authority to seek disgorgement has been a spotlight issue for the last several years, and on June 22, 2020, the Supreme Court delivered a highly anticipated ruling that will have a mixed impact.
In a novel and aggressive move likely aimed at garnering goodwill with federal regulators, Venezuelan state-owned entity CITGO Petroleum Company (“CITGO”) has sued its former agent for harm CITGO alleges was caused by the agent’s payment of bribes to foreign officials.
The coronavirus pandemic continues to upend the global economy and is increasing compliance risks for businesses in the process.
The COVID-19 pandemic has caused enormous pain and financial harm and it will take months, or even years, before we know its full impact.
In December 2019, the Department of Justice (“DOJ”) announced a new Export Control and Sanctions Enforcement Policy for Business Organizations (the “Policy”) regarding voluntary self-disclosures of potentially criminal violations of export control and sanctions laws…
On Friday, January 31, courts in the U.S., U.K., and France approved a multinational deferred prosecution agreement (DPA) with Airbus SE to settle bribery and corruption charges in connection with the company’s use of third-party consultants to secure aircraft sales…
The recent bribery conviction of British citizen Lawrence Hoskins created a stir among white collar practitioners because it showed that the US Department of Justice (“DOJ”) could be successful using…
Last week on November 6, 2019, the SEC Enforcement Division released its annual report on the Commission’s enforcement activities for the fiscal year.