Tagged: FCPA Corporate Enforcement Policy

DOJ “Tweaks” FCPA Corporate Enforcement Policy

The Justice Department is wedded to its FCPA Corporate Enforcement Policy (excuse me for the use of “wedded,” we recently celebrated our son’s wedding).  Nonetheless, DOJ has to adjust its Policy in response to experience and feedback.  That is a good thing and one that helps to ensure that the Policy is predictable and consistent in its application. I am convinced that the FCPA Corporate...

Episode 82 — A Deep Dive into the Cognizant Technology FCPA Enforcement Action

In the first corporate FCPA action of 2019, Cognizant Technology Solutions Company settled its long-running FCPA case, agreeing to pay the SEC $25 million.  At the same time, the Justice Department announced: (1) its’ declination under the FCPA Corporate Enforcement Policy; and (2) the indictment of Cognizant’s former President and General Counsel for criminal FCPA violations. In this Episode, Michael Volkov discusses the Cognizant FCPA...

Reflections on the Cognizant FCPA Resolution: Does DOJ Mean What it Says? (Part III of IV)

It’s easier to fool people than to convince them they have been fooled. — Mark Twain The only difference between reality and fiction is that fiction needs to be credible. — Mark Twain We live in an era where credibility and truthfulness are character values that are often challenged, questioned and indeed overrun.  Trust and integrity are values of utmost value and importance.  In an...

Cognizant Technology Pays $25 Million for FCPA Violations and Earns Declination — Two Executives are Indicted for Criminal FCPA Violations (Part I of IV)

In the first corporate FCPA action of 2019, Cognizant Technology Solutions Company settled its long-running FCPA case, agreeing to pay the SEC $25 million.  (SEC Settlement Here).  At the same time, the Justice Department announced: (1) its declination under the FCPA Corporate Enforcement Policy (Here); and (2) the indictment of its former President and General Counsel for criminal FCPA violations (Here). The charges arose from...

Episode 69 — Update on DOJ Corporate Enforcement Policies

The Department of Justice (DOJ) has announced a number of modifications to its policies governing prosecution of corporations for criminal and civil violations of law.  In 2017, DOJ announced its FCPA Corporate Enforcement Policy.  Over the last year, DOJ expanded this policy to apply to non-FCPA corporate violations, as well as mergers and acquisitions.  In addition, DOJ recently announced the adoption of an Anti-Piling On...

FCPA Risks and Merger and Acquisitions: The Evolving Policies (Part I of III)

Global companies that grow through a deliberate merger and acquisition strategy continue to face significant anti-corruption risks.  The list of FCPA enforcement actions includes numerous examples of companies that settled FCPA matters because of post-acquisition conduct, which usually reflects inadequate post-acquisition procedures. Despite the obvious risks and the Justice Department’s and SEC’s efforts to afford some flexibility in this area, global companies usually fail to...

DOJ Issues Declination and Disgorgement Under FCPA Corporate Enforcement Policy

In a recently released letter (here), the Justice Department issued a declination to the Insurance Corporation of Barbados Limited (ICBL) for violations of the FCPA under the FCPA Corporate Enforcement Policy.  DOJ required ICBL to pay approximately $93,000 in disgorgement. ICBL paid approximately $36,000 in bribes to Donville Innis, a Barbadian government official, in exchange for government contracts worth approximately $686,000 and $93,000 in profits....

DOJ Expands FCPA Corporate Enforcement Policy

The Justice Department’s FCPA Corporate Enforcement Policy was announced in November 2017 with much fanfare – it was the culmination of a step-by-step process beginning with the FCPA Pilot Program.  The FCPA Corporate Enforcement Policy enshrined the potential benefit of a presumption of a declination if a corporation: (1) voluntarily disclosed the misconduct; (2) implemented timely and appropriate remediation; and (3) fully cooperated with the...

2017 FCPA Year in Review (Part I of II)

With the close of 2017, FCPA enforcement continues as a major priority for the US Department of Justice.  Notwithstanding fears and concerns that the new administration would turn its back on FCPA enforcement, the Justice Department’s work continues unabated and unhindered.  All the doomsayers have to admit that no big changes have occurred in the Justice Department’s commitment to battle global corruption. The Numbers Looking...

Calculating the New Balance Between Disclosure and Non-Disclosure of Potential FCPA Violations

The Justice Department’s new FCPA Corporate Enforcement Policy has altered the balance between disclosure and non-disclosure of FCPA violations.  How is that for a profound grasp of the obvious? All kidding aside, the question is how much has the balance been changed?  I am not sure there will be a significant increase in the number of companies deciding to seek the benefits under the new...