The Justice Department and the Securities and Exchange Commission had another strong year in FCPA enforcement. The numbers for 2018 tell a compelling story. Corporations Individuals Declinations Fines/Penalties DOJ 5 26 4 $950 million SEC 14 4 NA $380 million Total 19 30 4 $1.33 billion In this episode, Michael Volkov reviews FCPA enforcement for 2018 and outlines interesting trends and developments.
The Department of Justice (DOJ) has announced a number of modifications to its policies governing prosecution of corporations for criminal and civil violations of law. In 2017, DOJ announced its FCPA Corporate Enforcement Policy. Over the last year, DOJ expanded this policy to apply to non-FCPA corporate violations, as well as mergers and acquisitions. In addition, DOJ recently announced the adoption of an Anti-Piling On...
Webinar: 2018 Ethics and Compliance Trends and Expectations Tuesday, January 16, 2018, 12 noon EST SIGN UP HERE The compliance profession continues to increase its influence in the corporate governance landscape. The Justice Department’s aggressive prosecution of global companies for anti-corruption violations, as well as international enforcement and compliance developments, has created a comprehensive set of compliance trends and government expectations as to compliance functions....
With the close of 2017, FCPA enforcement continues as a major priority for the US Department of Justice. Notwithstanding fears and concerns that the new administration would turn its back on FCPA enforcement, the Justice Department’s work continues unabated and unhindered. All the doomsayers have to admit that no big changes have occurred in the Justice Department’s commitment to battle global corruption. The Numbers Looking...
In a follow-on prosecution and end to a twisted investigation and enforcement path, SBM Offshore agreed to settle an FCPA enforcement matter for $238 million (including a $500,000 criminal fine and $13.2 million forfeiture). Under the agreement, SBM offshore entered into a three-year deferred prosecution agreement (DPA, copy here), and a US subsidiary entered a guilty plea to one count of FCPA conspiracy. The Justice...
I am pleased to offer a free podcast service under the same title as the blog — Corruption, Crime and Compliance. We have added a button on the left slide of the blog to make subscribing easy. Here is link to Episode 2, which includes subscription buttons: Here We have released two episodes so far, and a third episode will be released on Sunday. Episode...
No matter what, I am an optimist. A pessimist’s worldview and lifestyle is really unattractive. I would always rather see the glass as half full. Too many in the professional world have confused negative perspectives and predictions as a way to demonstrate their own expertise. It is an unfortunate practice in today’s professional world that negativity has replaced unbiased expertise. Pessimists always argue that if...
Just when we thought 2016 was over and we could all breathe a sigh of relief, DOJ and the SEC have continued to run with a string of new enforcement actions. To all of those prognosticators, paparazzi, commentators, chicken littles, and dire warnings, the answer is clear – FCPA enforcement is here to stay, compliance is a must, and increased DOJ/SEC resources are bearing fruit....
In a speech last week, Criminal Division Assistant Attorney General Leslie Caldwell touted the success of the FCPA Pilot Program. Her speech is available here. AAG Caldwell outlined the success of the FCPA enforcement program, listing many of the most significant enforcement actions, including the recent Och-Ziff and Embraer resolutions. Since 2009, the Justice Department has resolved criminal cases with approximately 65 companies, resulting in...
Rescheduled Webinar: Rising Government Expectations for Compliance Programs November 10, 2016, 1 PM EST Sign Up Here My apologies but I had to reschedule the webinar: Rising Government Expectations for Compliance Programs to November 10, 2016, 1 PM EST. The Justice Department has made it clear that companies have to design and implement effective compliance programs. Recent enforcement actions have highlighted weaknesses in corporate compliance...
