Tagged: DOJ

Episode 248 — Deep Dive into the GOL Brazil FCPA Enforcement Action

The Department of Justice and the Securities and Exchange Commission reached a $41 million settlement with GOL Linhas Aéreas Inteligentes S.A. (“GOL”) to resolve criminal and civil foreign bribery charges. GOL entered into a three-year deferred prosecution agreement (“DPA”) with DOJ in exchange for payment of a $17 million criminal penalty. DOJ credited $1.7 million of that penalty against a $3.4 million fine that GOL agreed...

DOJ CCO Certification Requirements and DOJ Compliance Mandates (Part II of III)

The new DOJ Certification requirements certainly raise a number of new issues and risks for senior management and chief compliance officers.  In Part I of this series, I outlined the specific language and the Plea Agreement standards imposed on companies that enter into a Plea Agreement with DOJ for FCPA violations. DOJ has reiterated its support for this new Certification requirement.  Indeed, a DOJ official...

Deciphering FCPA Enforcement Trends

In following the Justice Department and the Securities Exchange Commission FCPA enforcement actions, I am always reminded of the popular phrase — “reading the tea leaves.” (or “tasseography,” a fortune-telling method based on tea leave patterns in tea sediments).  Despite a slow initial year in 2021, the Biden Administration’s stamp and push on FCPA enforcement is becoming clear.  Keep in mind, DOJ and SEC officials...

Tenaris Pays SEC $78 Million to Resolve FCPA Violations

The SEC announced another FCPA settlement in 2022.  FCPA enforcement, in general, is picking up.  Tenaris, a global supplier of steel pipes and related services for the energy industry, agreed to pay the SEC $78 million to resolve FCPA violations.  The US Department of Justice closed its investigation without bringing charges. The resolution of Tenaris’ case is interesting because of Tenaris’ recidivist status.  In 2011,...

Sanctions Enforcement: “The New FCPA”

Hold onto your hats – while we are on the cusp of more FCPA enforcement actions, the Justice Department and OFAC are gearing up for real and significant sanctions enforcement actions.  The dye is cast, so here we go.  Deputy Attorney General Lisa Monaco was recently quoted stating that sanctions enforcement is the “new FCPA.” This is not so surprising given the global crisis caused...

Episode 234 — A Deep Dive into the Stericycle FCPA Enforcement Action

The Justice Department ended its FCPA enforcement drought by announcing its first corporate settlement in 2022.  In a parallel action, the SEC announced its settlement with Stericycle for $28 million for FCPA violations.  The SEC’s settlement was its second with a company for 2022 (the first was KT Corp.). Under the settlement, Stericycle resolved investigations being conducted by the Department of Justice, the Securities and...

DOJ Brings First Corporate FCPA Enforcement Action – Settles with Stericycle for $84 Million (Part I of III)

The Justice Department ended its FCPA enforcement drought by announcing its first corporate settlement in 2022.  In a parallel action, the SEC announced its settlement with Stericycle for $28 million for FCPA violations.  The SEC’s settlement was its second with a company for 2022 (the first was KT Corp.). Under the settlement, Stericycle resolved investigations being conducted by the Department of Justice, the Securities and...

Ethics and Compliance Initiative Impact 2022 — Sign Up Now!

SIGN UP HERE April 19 – April 22, 2022 IMPACT 2022 is the premier gathering of the year for ethics and compliance officers and practitioners who look to improve their organizational E&C initiatives while increasing efficiency and reducing costs. This year’s event features keynote addresses featuring the United States Department of Justice and the Securities and Exchange Commission. In addition, IMPACT 2022 offers more sessions...

Global Update and Review: Russia Sanctions and Asset Capture Initiatives

The Russia-Ukraine crisis has created a fast-moving compliance nightmare – sanctions and export controls around the globe are changing each day.  Some major companies are pulling out of Russia completely in response to the crisis. Others are trying to keep up with sanction requirements and adjusting specific controls each day.  Whatever approach is taken, trade compliance officers have their hands full. United States On the...

Episode 218 — The Biden Administration’s New Strategy on Countering Corruption

The Biden Administration announced a new, comprehensive anti-corruption initiative, the United States Strategy on Countering Corruption. The new anti-corruption initiative 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 38-page plan released last week outlines steps for cracking...