Here are some basic propositions that surround FCPA compliance. It is often underplayed that the FCPA contains more than just a bribery prohibition – the FCPA contains broad provisions, requiring accurate books and records and internal controls. When it comes to bribery, wrongdoers have to find ways to “steal” or gain unauthorized access to money often by circumventing internal controls. Thus, bribery conduct often goes...
DOJ is poised for a big year in the enforcement of Russian Sanctions and seizure of assets connected to Russian Oligarchs. It has been nearly a year since the U.S., its allies and partners have unleashed robust sanctions against Russia in response to Russia’s invasion of Ukraine. DOJ’s commitment to sanctions enforcement has been steady and will only increase. In a recent case, DOJ announced...
The Volkov Law Group is honored to celebrate its ten-year anniversary. When we started in February 2013, we had no idea on the path our journey would take. We look back with gratitude and forward with passion and optimism. We appreciate our clients with whom we have had the privilege to collaborate. In addition, we value our families, friends and colleagues with whom we have...
Alex Cotoia, Regulatory Manager at The Volkov Law Group, rejoins us for a posting on recent ITAR Guidance on U.S. Persons Abroad. Alex can be reached at [email protected]. On January 5, 2023, the U.S. Department of State’s Directorate of Defense Trade Controls (“DDTC”) published updated guidance concerning authorizations issued to U.S. Persons Abroad (“USPABs”) as defined in 22 C.F.R. Section 120.62. Current regulations require all...
In a significant action, DOJ’s Antitrust Division filed a complex complaint against Google charging it with a long-time scheme over 15 years to monopolize the digital advertising market. DOJ was joined by Attorneys General of California, Colorado, Connecticut, New Jersey, New York, Rhode Island, Tennessee, and Virginia. DOJ filed a separate antitrust case in 2020 against Google for monopolizing search and search advertising, which are...
In an ironic twist (or you just can’t make this up moment, whichever you prefer), the Justice Department announced the arrest of Charles McGonigal, the former Special Agent in Charge (“SAC”) of the FBI’s Counterintelligence Division in New York, along with Sergey Shestakov, a former Russian diplomat, in a five-count indictment for violating Russian sanctions and money laundering laws. The charges stem from services provided...
The Department of Justice announced revisions to its Corporate Enforcement Policy (“CEP”) yet again in order to promote voluntary disclosures by Companies that discover potential wrongdoing. DOJ’s latest action demonstrated its commitment to several ideas: (1) Increasing prosecution of individual wrongdoers; (2) Offering benefits to companies to encourage self-reporting, cooperation and remediation; (3) Reducing the burdens on corporate shareholders from large fines and penalties that...
Just when we thought the ethics and compliance landscape was “stable,” the Justice Department pulled the compliance profession further and announced heightened expectations for corporate compliance programs. For prognosticators like myself it is easy to predict that next year companies will have to focus on their compensations systems and data preservation capabilities. DOJ has promised to issue additional guidance on these two important issues. However,...
Matt Stankiewicz from The Volkov Law Group rejoins us for a posting on the recent Bitzlato, cryptocurrency scandal. Matt can be reached at [email protected]. On Wednesday, January 18, 2013, the U.S. Department of Justice (“DOJ”) unsealed a criminal complaint in the Eastern District of New York charging Russian-national Anatoly Legkodymov, a senior executive at Bitzlato Ltd. (“Bitzlato”), a cryptocurrency exchange registered in Hong Kong. Legkodymov—also...
Trade compliance is the new hot field. Companies are catching up with trade compliance in response to the global sanctions regimes put in place to cripple Russia. The United States, its allies and partners have implemented an unprecedented and complex set of sanctions and export controls. Global businesses were tested. Trade compliance became the center of attention and risks. In recognition of this reality, the...
