Tagged: SEC

The Antitrust Leniency Model and FCPA Enforcement

I am always wary of simplistic policy proposals – often the simple idea to apply one policy to another subject matter, just does not work. Instead, policy debate will turn to the simple idea and how it can easily be applied in other circumstances. Not to get too cute, but the inquiry requires deciding on which idiom to apply: Is this a situation where: “If...

Is Your Anti-Corruption Compliance Program “Operational”?

The Justice Department and the SEC are tired of investigating companies with “paper” compliance programs. It is easy to spot a “paper” compliance program – as the saying goes, you can smell it a mile away. The key distinguishing feature of an effective compliance program and a “paper” program can be distilled down to the question of whether the program is “operational.” Hui Chen, the...

Predictions for Anti-Corruption Enforcement for 2016

In all honesty, if I were betting on my predictions, I would be broke. If I were setting the line on the Super Bowl, I am sure I would go bankrupt in paying off bets. With such confidence, you may want to just click  to the new blog post on my colleague Tom Fox’s excellent blog (here) or Matt Ellis’ excellent blog (here), or many...

Four Compliance Trends and Challenges for 2016

As we close out the year, it is now time to begin the retrospective reviews and predictions for the New Year. I will try to keep them to a minimum but I find it important to reflect and look forward to new challenges. Compliance is a fast moving profession. More attention is being paid to the compliance function, and more companies are embracing the importance...

Webinar: Anti-Corruption Enforcement and Compliance — The Year in Review

Webinar: Anti-Corruption Enforcement and Compliance — The Year in Review January 5, 2016, 12 noon EST Sign Up Here The past year — 2015 — was another eventful year in global anti-corruption enforcement. While the US Department of Justice enforcement activity slowed, the SEC and other governments increased enforcement activity. DOJ’s enforcement program took some unusual twists with the hiring of a Compliance Counsel and...

Now the Only Path to an SEC DPA or NPA: Self-Reporting

Lauren Connell, Managing Associate at The Volkov Law Group, joins us again for a posting about self-reporting FCPA violations.  Lauren’s profile is here, and she can be reached at lconnell@volkovlaw.com. One of the critical questions when evaluating a potential FCPA violation is to decide whether to disclose the matter to the Justice Department and the SEC. The SEC recently announced a requirement for companies to voluntarily disclose...

Resetting FCPA Prosecution Policies

Recent press reports suggest that the Justice Department is reconsidering its FCPA criminal prosecution policies, particularly with respect to corporate defendants.  As reported, DOJ is considering defining and increasing corporate benefits from voluntary disclosures and cooperation.  This re-evaluation appears to have been triggered by changes in the Criminal Division leadership. DOJ’s recent Yates memorandum imposed new and significant obligations on companies seeking credit for cooperation...

The SEC’s Year of FCPA Enforcement

Say what you will – the SEC is making its mark this year in FCPA enforcement. So far, the SEC has brought nine separate enforcement actions, the latest with Bristol-Myers Squibb. I am sure we will see more before the end of the year. The SEC’s success reflects the investment they made in a new enforcement structure, the creation of the FCPA Section, and the...

Four Clear Messages from Bristol-Myers Squibb FCPA Enforcement Action

The SEC’s FCPA enforcement action for $14.6 million against Bristol-Myers Squibb (“BMS”) in China provides a textbook example of how things can go wrong in China. For the compliance practitioner (as well as CEO and senior executives) in the pharmaceutical and medical device industries, the BMS enforcement action should be read and digested as a quick checklist of important principles. The facts underlying the BMS...

SEC’s Hitachi Enforcement Action and Important Compliance Reminders

The SEC continues to plug away at aggressive FCPA enforcement. This year, at least so far, the SEC has had a very successful year. The Hitachi case is a very interesting enforcement action for several major reasons.  From a general perspective, the SEC’s decision to file the case in US District Court for the District of Columbia represents an important about face – instead of...