Russia Archives - Corruption, Crime & Compliance

4 Jan, 2024

OFAC Bolsters Russian Oil Price Cap Record-Keeping Requirements in New Round of Sanctions

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has renewed its commitment to squeezing Russia’s oil proceeds, releasing updated guidance with enhanced attestation and record-keeping requirements for maritime shipping operators and other industries that participate in the transport of Russian oil. OFAC also announced sanctions against several firms operating in apparent violation of the Price Cap. The Price Cap Policy is...

Flutter Entertainment Settles SEC FCPA Case for $4 Million for Improper Payments to Russian Consultants

General

28 Mar, 2023

Flutter Entertainment Settles SEC FCPA Case for $4 Million for Improper Payments to Russian Consultants

Flutter Entertainment, the previous owner of PokerStars, agreed to pay the Securities and Exchange Commission $4 million for improper payments to Russian-based consultants, stemming from conduct committed by The Stars Group, PokerStars previous owner. Flutter purchased PokerStars in 2020. Flutter is an Ireland-based global gaming and sports betting company. Flutter was tagged with the FCPA violations committed by the Stars Group prior to Flutter’s acquisition. ...

Commerce Department Restricts Licensing for Exports of National Security Items to China, Venezuela and Russia

General

1 Nov, 2020

Commerce Department Restricts Licensing for Exports of National Security Items to China, Venezuela and Russia

Janet Longo, Regulatory Compliance Manager, at the Volkov Law Group, joins us for a blog posting on the Commerce Department’s changes to export licensing policies and procedures for national security items destined to China, Russia and Venezuela. The Volkov Law Group has extensive expertise with complicated export license applications and is happy to provide you with additional resources to assist you with your license applications...

Alexion FCPA Violations: Lessons Learned (Part II of II)

General

10 Jul, 2020

Alexion FCPA Violations: Lessons Learned (Part II of II)

The Alexion Pharmaceutical SEC FCPA enforcement action represents another in the long line of enforcement actions against drug and device companies. The drug and device industries have been – and will continue to be — easy marks for prosecutors to investigate and prosecute for foreign bribery. There are a number of reason for this. First, global drug and device depend on interactions with foreign healthcare...