Tagged: lessons learned

Lessons Learned from the SAP Enforcement Action — DOJ Changes Tack on FCPA Enforcement While SEC Digs into Third-Party Controls (Part III of III)

Lessons Learned from the SAP Enforcement Action — DOJ Changes Tack on FCPA Enforcement While SEC Digs into Third-Party Controls (Part III of III)

A careful reading of the DOJ and SEC settlement documents for the SAP case will puzzle you.  I know I am scratching my head trying to make sense of the whole picture here.  There are a number of significant indicators of a change in DOJ’s tack, along with SEC’s aggressive push on third-party controls.  DOJ’s position is even more difficult to understand as explained below....

Lessons Learned from the Albemarle FCPA Enforcement Action: Mind Your Third Parties (Part III of III)

Lessons Learned from the Albemarle FCPA Enforcement Action: Mind Your Third Parties (Part III of III)

The Albemarle FCPA enforcement action was announced at a good time.  This year has been a slow year for DOJ’s FCPA enforcement program, although there are several months before the end of the year. The SEC, on the other hand, has been steady this year — the Albemarle and Clear Channel enforcement actions are numbers eight and nine for the year.  The Albemarle enforcement action...

Episode 265 — The Ericsson FCPA DPA Breach Settlement

Ericsson, a multinational telecommunications company, based in Sweden, settled its breach of the 209 Deferred Prosecution Agreement, agreed to enter a guilty plea and pay a $206 million penalty.  In 2019, Ericsson entered into a three-year DPA, paid a $1 billion penalty to DOJ and the SEC for FCPA violations.  DOJ notified Ericsson in 2021 that it had breached the DPA by violating the DPA’s...

Webinar: Lessons Learned from 2022: Improving Your Ethics and Compliance Program

February 14, 2023 12 Noon EST Sign Up HERE The past year was a big year in ethics and compliance programs. Global companies face aggressive enforcement risks, including anti-corruption, sanctions, export controls, and antitrust. Adding to this situation, DOJ issued a new Corporate Enforcement Policy, which includes new and significant compliance program expectations. Chief compliance officers face heightened challenges and expectations from internal and external...

Lessons Learned from the Honeywell FCPA Settlement (Part III of III)

The Honeywell FCPA settlement underscored a number of important issues – lessons learned for compliance professionals.  Every FCPA case carries important lessons learned, but some more than others.  The Honeywell case with its focus on the large project in Brazil, and the contractual dispute in Algeria both provide important pointers relating to third party risk management.  In addition to the third party issues, however, Honeywell...

The Glencore Settlement: Lessons Learned (Part V of V)

The Justice Department has resumed FCPA enforcement with a bang.  The new enforcement approach has been unveiled and the message for CCOs and corporate business leaders is clear — anti-corruption compliance should be a critical compliance priority.  Companies that fail to do so will be severely punished.  The new DOJ approach stands as one of the most important events elevating the importance of corporate compliance...

Lessons Learned and Compliance Trends from the VW and Takata Scandals (Part III of III)

When unraveling a major corporate scandal, especially multi-year schemes involving senior executives, the blame game or lessons learned approach can easily turn into a fruitless exercise. The VA and Takata scandals are important reminders of basic compliance and governance requirements. If carefully considered, they underscore the reasons why compliance programs exist and why an effective program is so critical in today’s global economy. My list...