Featured Articles:

OFAC Settles with Generali Global Assistance, Inc. for $5.8 Million for Violations of Cuban Sanctions

OFAC continues to chalk up enforcement actions.  For the year, even with the pandemic slow down, OFAC has reached 13 settlement agreements totaling $18.6 million in penalties. In its latest enforcement settlement, Generali Global Assistance, Inc. (“GGA”), a US-based travel assistance services company that provides travel and claims services on behalf of clients that offer global medical expense and travel insurance policies, agreed to pay...

DOJ, CFTC and SEC Settle Spoofing Fraud Charges with JP Morgan for $920 Million

JP Morgan Chase (“JP Morgan”) is not having a positive year when it comes to government enforcement.  JP Morgan is at the brink of a multi-billion dollar FCPA settlement for its involvement in the 1MDB corruption scandal in Malaysia.  Add to this a few regulatory enforcement actions: an SEC settlement for manipulative trading U.S. Treasury securities; and a FINRA fine of $1.1 million for failure...

Episode 163 — Review of Recent FCPA Cases Involving Petroecuador

In two recent FCPA enforcement actions, the Justice Department focused on bribery schemes involving Petroecuador government officials.  Petroecuador is the state-owned oil and gas company in Ecuador. In the first, DOJ announced an indictment against Javier Aguilar, an oil trader at Vitol, an energy and commodity trading company, for his role in a five-year international bribery and money laundering scheme carried out in Ecuador. In the...

Register Today for NAVEX NEXT Virtual Conference October 22, 2020

NAVEX Global has announced its upcoming virtual ethics and compliance conference. ( Formerly the Ethics & Compliance Virtual Conference (ECVC)). NAVEX’s upcoming conference theme is: Beyond the Moment. Sign Up HERE. NAVEX Global’s annual virtual conference is a terrific opportunity to catch up with the latest ethics and compliance trends and stay proactive in the field. NAVEX Global’s goal this year is to help everyone be...

Boeing’s Culture of Neglect and Disregard of Safety: The House Transportation Committee Report Findings (Part II of II)

Boeing’s culture and safety performance continues to undermine its ability to move forward and regain trust from regulators, the aviation industry and the flying public.  Boeing has to undergo transformative change.  All indications of reform are sparse and Boeing appears to be moving slowly but not so effectively to implement real and substantial reforms.  Boeing faces significant challenges to the core of its culture and...

Boeing 737 MAX Accountability: Shareholder Litigation Against Boeing Board & House Transportation Committee Issues Scathing Report (Part I of II)

Boeing is the new poster child for corporate governance failures and misconduct.  Move over Wells Fargo, General Motors, Volkswagen, Novartis, Siemens and Wal-Mart, and make room for Boeing.  Like General Motors and its ignition switch scandal, innocent consumers were killed as a direct result of corporate governance failures and blatant misconduct. Boeing’s 737 MAX was rolled off the factory floor with fanfare and great expectations...

Keysight Technologies Settles with OFAC for $473,157 for Violations of Iran Sanctions Program

OFAC is a steady enforcement agency.  As the COVID-19 pandemic settled down, OFAC resumed aggressive enforcement of economic sanctions.  In its latest action, OFAC announced a settlement with Keysight Technologies (“Keysight”), a Santa Rosa, California, for conduct stemming from its former subsidiary, Anite Finland (“Anite”) for re-exports of US export-controlled test measurement equipment to Iran.  In a familiar fact pattern surrounding OFAC compliance and acquisitions,...

Sargeant Marine Pleads Guilty to FCPA Charges and Agrees to Pay $16.6 Million

The Justice Department announced a guilty plea to FCPA charges by Sargeant Marine, Inc., a privately-owned company, based in Boca Raton, Florida.  Sargeant Marine, an asphalt company, plead guilty to one count of conspiracy to violate the anti-bribery provisions of the FCPA and agreed to pay a fine of $16.6 million for bribery schemes in Brazil, Venezuela and Ecuador.  Between 2010 and 2018, Sargeant Marine...

Webinar: 2020 FCPA Enforcement and Compliance Review

Webinar: 2020 FCPA Enforcement and Compliance Review October 13, 2020, 12 Noon EST Sign Up HERE Despite the pandemic and disruptions to the global economy, the Justice Department and the Securities and Exchange Commission have resumed their aggressive enforcement of the FCPA. DOJ has continued its pace of corporate prosecutions while continuing to increase individual criminal prosecutions. DOJ and the SEC also issued a revised...