Featured Articles:

2021 False Claims Act Year in Review: Judicial and Congressional Developments (II of II)

As for the Judiciary, the U.S. Supreme Court did not issue any relevant decisions nor grant certiorari in any notable FCA cases in FY21. To the contrary, they denied petitions to review appellate cases of potential significance (e.g., in June 2021 the Supreme Court declined to review a case from the Seventh Circuit regarding the government’s ability to move to dismiss over a relator’s objection)....

2021 False Claims Act Year in Review: Enforcement Statistics (Part I of II)

Worth the Wait? DOJ finally released its Fraud Statistics for FY 2021 and announced the “second largest amount recorded” since 1986: FCPA Settlement and judgment exceed $5.6 billion Jessica Sanderson, Partner at The Volkov Law Group, joins us for her annual review of False Claims Act enforcement and issues. In Part I, Jessica reviews the enforcement statistics. In Part II, Jessica discusses False Claims Act...

LRN’s 2022 Ethics and Compliance Program Effectiveness Report Confirms Importance of Values-Driven and Ethics-Based Corporate Culture

LRN conducts an annual Ethics and Compliance Program Effectiveness Report (“LRN Report”) that is a must-read for business leaders, managers, investors, compliance professionals and other stakeholders. LRN’s annual report has addressed key issues surrounding the impact of the COVID-19 pandemic on companies and ethics and compliance programs.  Last year’s report, which was divided into two parts, and this year’s 2022 Report provides fresh data on...

DOJ Loses Another Libor-Rigging Case on Appeal

The Justice Department trumpeted its criminal prosecutions against defendants charged with Libor-rigging.  It had a right to toot its own horn.  But many of these convictions have not withstood the scrutiny of appellate courts. Recently, the US Court of Appeals for the Second Circuit, in United States v. Connolly, reversed the criminal convictions of Matthew Connolly and Gavin Black.  Interestingly, the Second Circuit panel rejected...

Episode 223 — DOJ Issues FCPA Opinion Letter Drawing Lines on “Corrupt Intent” and “Business Purpose” Test

Even with the absence of any major DOJ FCPA enforcement actions, DOJ issued an interesting FCPA Opinion Letter last week addressing application of the FCPA in circumstances where organizations face imminent serious bodily harm.  While the situation may appear to be unique, it is a factual scenario that occurs more often than DOJ recognizes. In October 2021, a Requestor submitted an Opinion Letter application that...

Antitrust Division Indicts Four Individuals for Wage Fixing in Labor Markets (Part III of III)

Criminal antitrust is burning a path in prosecuting illegal wage-fixing agreements in labor markets.  The Justice Department warned companies over five years ago and now DOJ is executing on its warning.  Over the last two years, the Antitrust Division has indicted four companies and seventeen (17) individuals.  The Antitrust Division is promising more indictments. At the end of 2021, DOJ indicted six individuals, one of...

CCOs and Criminal Cartel Compliance Programs (Part II of III)

Chief compliance officers have plenty of things to do and risks to manage.  CCOs have a unique remit and a set of skills that should be applied whenever needed.  While I am not trying to increase CCO workload (and forgive me if I am), CCOs should have responsibility for design and implementation of an effective criminal antitrust compliance program. For many years, antitrust compliance was...

The New “Era” of Antitrust Enforcement (Part I of III)

There is no question but we are in the “perfect storm” for antitrust enforcement.  Antitrust enforcement is fast-becoming an area of rare “bipartisanship.”  Republicans resent the growing power and influence of technology and social media companies.  Democrats are concerned about the growth of the rich, large companies and political influence.  Jonathan Kanter, the confirmed Assistant Attorney General of the Antitrust Division, has already signaled that...

Episode 222 — Managing Third-Party Sanctions Risks

Economic sanctions enforcement is a fast-rising risk for global companies. For many years, the Treasury Department’s Office of Foreign Asset Control (“OFAC”) focused primarily on financial institutions. Over the last ten years, OFAC has stretched its enforcement eyes towards software, manufacturing, telecommunications and technology companies. With this growth in sanctions enforcement, OFAC has embraced an aggressive view of third-party risks. Like the FCPA, under OFAC’s regime, third parties...

Preparing for New Russia Sanctions Program: Are You Ready?

Jessica Sanderson, Partner at The Volkov Law Group, joins us for a blog posting on how to prepare for possible Russia sanctions in the event Russia invades the Ukraine. Jessica can be reached at [email protected] Compliance Professionals: As the Ukraine braces for a possible Russian incursion, are you bracing for the impact of economic sanctions against Russia? In this article we offer suggestions to help...