The Biden Administration’s new anti-corruption initiative is a significant commitment to the battle against global corruption. According to the Biden Administration, “[c]orruption is a cancer with the body of societies – a disease that eats at public trust and the ability of governments to deliver for their citizens. The deleterious effects of corruption impact nearly all aspects of society.” At the heart of the new...
The Biden Administration announced a new, comprehensive anti-corruption program, the United States Strategy on Countering Corruption. The new anti-corruption policy is the follow on to the earlier announcement elevating the global anti-corruption battle to a national security concern. After that announcement, the Biden Administration conducted a 200-day inter-agency examination to develop a comprehensive government-wide anti-corruption initiative. The Biden Administration released the new United States Strategy...
Alex Cotoia, Regulatory Manager and Compliance Consultant, rejoins us for a blog post of the SEC’s adoption of foreign issuer disclosure rules. Alex can be reached at [email protected]. On December 3, 2021, the U.S. Securities and Exchange Commission (“SEC”) announced the adoption of a final rule that fully implements the requirements of the Holding Foreign Companies Accountable Act (“HFCAA”) enacted by the Congress and signed...
When: December 15, 2021 Time: 2 pm to 3:30 pm EST Sign Up HERE Over the past several years the Department of Justice has periodically issued material updates to guidelines related to compliance programs and enforcement. The US Chamber of Commerce Institute for Legal Reform has underwritten an important and timely survey of ethics & compliance officers by ECI related to how they are interpreting and...
The Antitrust Division won a preliminary skirmish against two co-defendants who challenged the criminal indictment against them charging price-fixing in the labor market. District Court Judge Mazzant, in the Eastern District of Texas, issued a decision denying the defendants’ motion to dismiss in United States v. Neeraj Jindal & John Rodgers, 20-CR-358. (Here). In rejecting the defendants’ motion, the trial judge ruled that price-fixing in...
While we wait for the coming FCPA enforcement storm, DOJ and the SEC have quietly continued to rack up and resolve several enforcement actions. Here is short and sweet review of many of these actions: Luis Enrique Martinelli, son of the former Panama President, was recently presented in federal court in Brooklyn after the U.S. finally secured his extradition from Guatemala. Luis Enrique Martinelli sought...
FCPA practitioners, In-house counsel and compliance officers, and yes, even the FCPA Paparazzi, have been patient enough. As the saying goes, talk is cheap. It is action that counts. We have written often enough about the coming storm – the Biden Administration’s long-anticipated ramp up of white collar enforcement, and FCPA actions in particular. The groundwork was set – the National Security Memorandum raising the...
On November 12, 2021, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”), pursuant to Executive Order 14046, Imposing Sanctions on Certain Persons With Respect to the Humanitarian and Human Rights Crisis in Ethiopia, issued sanctions against four entities and two individuals as part of a new sanctions program in Ethiopia. OFAC issued the sanctions is in response to humanitarian and human rights...
Alex Cotoia, Regulatory Manager and Compliance Consultant at The Volkov Law Group, rejoins us for the second part of his blog posting on Chinese trade and security issues. Alex can be reached at [email protected]. On November 17, 2021, a bipartisan congressional commission—the U.S.-China Economic and Security Review Commission—released a series of recommendations that called upon the Congress itself to assume a more proactive role in...
Alex Cotoia, Regulatory Manager and Compliance Consultant at The Volkov Law Group, rejoins us for a two-part posting on emerging developments in U.S.-China trade issues. Alex can be contacted at [email protected]. As diplomatic tensions between Washington and Beijing continue to escalate, U.S. owned businesses dependent on the sale and export of more sensitive advanced technologies to the People’s Republic of China (“PRC”) should take heed...
