Featured Articles:

Lessons Learned and the Big Picture: ABB – the Three-Time Loser – Settles Yet Another FCPA Case (Part III of III)

The ABB case, like most significant FCPA enforcement actions, sets important precedent and policy reminders. With time, and looking back, ABB gives companies with a prior criminal history a way forward to seek a fair resolution notwithstanding huge obstacles based on past performance.  If you are ABB, you dodged a significant bullet – the appointment of an independent compliance monitor, which DOJ has been regularly...

Digging into the ABB Bribery Details in South Africa (Part II of III)

The details of bribery schemes are invaluable for learning how criminals think – bribery always requires some scheme to transfer money from the organization to fund bribery payments to a government official(s).  Compliance professionals like to comb through the wreckage and turn the inquiry into a self-assessment.  The logical questions follow: All of these inquiries are important to apply to analyze your own company’s weaknesses...

ABB – A Three-Time Loser – Settles FCPA Case for Bribery in South Africa for $315 Million (Part I of III)

The Justice Department’s new Corporate Enforcement Policy and the heightened enforcement and compliance expectations were put to the test in its announcement of a $315 million settlement of bribery charges with ABB, a three-time loser in foreign bribery enforcement.  In some respects, the new policy should not apply to ABB’s case given its recent announcement but nonetheless the ABB resolution provides some important indicators of...

Join us for The Third-Party Risk Management & Oversight Virtual Summit December 7-8, 2022

Join us December 7-8 for Compliance Week’s Third Party Risk Management & Oversight Summit, the only cross-industry conference dedicated to risk management, oversight strategies, and best practices for vendor and third-party relationships. The Summit will be live-streamed virtually. Our Partner Jessica Sanderson will be joining Sandeep Bhide for a panel entitled Deep Dive into Third-Party Relationships to Identify 4th and Nth Parties on December 7 from 12:00...

Episode 253 — A Deep Dive into the Oracle SEC FCPA Settlement

Oracle Corporation settled its second FCPA case in ten years. It agreed to pay the SEC $23 million to resolve allegations that its subsidiaries in Turkey, India and the United Arab Emirates maintained slush funds to bribe foreign officials. Ten years ago in 2012, Oracle paid the SEC $2 million for creating millions of dollars in off-the-books accounts at its India subsidiary. Join Michael Volkov...

State Department Announces Plans to Heighten ITAR Enforcement Over Transfers of Controlled Data

Alexander Cotoia, Regulatory Manager at The Volkov Law Group, rejoins us for a posting on State Department’s plan to increase ITAR enforcement of controlled data transfers. Alex can be reached at [email protected] During a plenary session of the Defense Trade Advisory Group (“DTAG”)  that convened on November 9, 2022, Deputy Assistant Secretary of State Mike Miller outlined a number of initiatives undertaken by the Directorate...

Sam Finkelstein Joins Volkov Law Group

We are pleased to announce the addition of Sam Finkelstein as an Associate Attorney at The Volkov Law Group. Sam comes to Volkov Law from the Bergen County Superior Court, where he served as Judicial Law Clerk to the Hon. Frances A. McGrogan, J.S.C.  Before his clerkship, Sam worked as a Legal Analyst with The Volkov Law Group; in this capacity, Sam distinguished himself as...

DOJ’s Perspective on Clawbacks and Deferred Compensation Systems (Part III of III)

DOJ’s decision to examine corporate compensation programs as an important part of a compliance program should be welcomed.  DOJ’s initiative asks a very good question – how can incentives and disincentives be used to promote compliant behavior without unjustly punishing shareholders who bear the brunt of large corporate penalties? DOJ wisely decided to open this issue to further examination through a consultation process.  The possible...

Teasing Out Clawbacks and Deferred Payment Schemes – Who Should be Held Accountable and for How Much? (Part II of III)

The Justice Department did not just willy-nilly announce its embrace of clawbacks and deferred payment compensation punishment as a remediation tool for companies that suffer an enforcement action and settlement.  To the contrary, DOJ has been examining this issue, even citing it in important policy spheres and enforcement actions, as an important tool in its arsenal. Both the DOJ and the SEC have been weighing...

Two-Part Webinar: 2022 FCPA Enforcement and Compliance Year in Review (Part I); 2022 Sanctions Enforcement and Compliance Year in Review (Part II)

2022 FCPA Enforcement and Compliance January 10, 2022 12 Noon EST Sign Up Here FCPA: The Justice Department and the SEC continued to push FCPA enforcement with a new emphasis on aggressive enforcement resolutions, heightened compliance expectations and certification requirements designed to increase accountability. The Biden Administration promised a new, aggressive approach, and they are starting to deliver on that promise. While there were several important corporate...