On May 3, 2022, the SEC’s Division of Corporation Finance (“CorpFin”) issued guidance reminding companies with disclosure obligations under U.S. securities laws to be cognizant of any disclosures that may be warranted as a...more
In addition to compliance considerations under US sanctions associated with activities of U.S. persons, companies should also ensure that their compliance programs take into account the expansion under U.S. export controls of...more
12/13/2021
/ Burma ,
Cambodia ,
Chemical Weapons ,
Chief Compliance Officers ,
China ,
Compliance ,
Defense Sector ,
Export Administration Regulations (EAR) ,
Export Controls ,
Military End Use ,
National Security ,
Nuclear Weapons ,
Prohibited Transactions ,
Russia ,
U.S. Commerce Department ,
Venezuela
On September 27, 2021, the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury announced a $1,423,766 settlement with Houston-based supplier, Cameron International Corporation (“Cameron”) to resolve...more
11/9/2021
/ Compliance ,
Corporate Counsel ,
Economic Sanctions ,
Enforcement Actions ,
Executive Orders ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanction Violations ,
SDN List ,
Settlement Negotiations ,
Ukraine
U.S. and multinational companies with business involving China should be on the alert given recent changes in U.S. export controls and sanctions. During the months of June and July this year, the U.S. government has taken...more
9/2/2021
/ Biden Administration ,
China ,
Compliance ,
Economic Sanctions ,
Executive Orders ,
Export Controls ,
Hong Kong ,
Multinationals ,
National Security ,
SDN List ,
Supply Chain ,
Trump Administration
On June 7, 2021, US Department of Commerce, Bureau of Industry and Security (“BIS”) amended its Antiboycott provisions in Part 760 of the Export Administration Regulations (“EAR”) easing reporting requirements and business...more
On April 29, 2021, the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury, and the Bureau of Industry and Security (“BIS”) of the U.S. Department of Commerce announced settlements with German...more
5/26/2021
/ Attorney General ,
Bureau of Industry and Security (BIS) ,
Civil Monetary Penalty ,
Compliance ,
Corporate Counsel ,
Data Blocking ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Export Administration Regulations (EAR) ,
Export Controls ,
Geo-Blocking ,
Geolocation ,
Germany ,
Iran ,
Iran Sanctions ,
ITAR ,
ITSR ,
Office of Foreign Assets Control (OFAC) ,
SAP SE ,
Settlement ,
Technology Sector ,
U.S. Treasury
On December 14, 2020, the Securities and Exchange Commission announced an award of more than $300,000 to a whistleblower who uncovered potential securities law violations in connection with audit-related responsibilities. The...more
For the first time since its initial publication in 2012, the DOJ and SEC released an update to their 130-page guidance manual on the U.S. Foreign Corrupt Practices Act (“FCPA”). While not as highly anticipated as the first...more
In June, the U.S. Department of Justice updated its Evaluation of Corporate Compliance Programs Guidance (“Guidance”). While the Guidance is intended to assist prosecutors by providing factors to consider in evaluating the...more
In recent weeks, the United States Department of Justice (“DOJ”) published guidance in the Justice Manual at Section 4-4.112 on how it will award cooperation credit to entities and individuals that are being investigated for...more
7/29/2019
/ Chief Compliance Officers ,
Compliance ,
Cooperation ,
Corporate Counsel ,
Corporate Liability ,
Corporate Misconduct ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
Federal Contractors ,
Government Investigations ,
New Guidance ,
Remedial Actions ,
Subsequent Remedial Measures ,
Voluntary Disclosure Agreement
The SEC’s most recent whistleblower awards highlight the importance of internal reporting to a company’s compliance program and especially how a company investigates and responds to such reports. On May 24, 2019, the SEC...more
The U.S. Department of Justice (DOJ) recently issued a Guidance Document for its Evaluation of Corporate Compliance Programs. The Guidance Document applies directly to all of DOJ’s Criminal Division, and therefore applies to...more
When DOJ announced its FCPA Corporate Enforcement Policy in 2017 (later expanded to all corporate criminal defendants), defense lawyers expressed concern about a provision buried within what it meant to provide “timely and...more
On March 6, 2019, the Commodity Futures Trading Commission (CFTC) issued an Enforcement Advisory that applies to companies and individuals not registered with the CFTC that voluntarily disclose violations of the Commodities...more
Anti-Corruption enforcement remained a top priority in France, the UK, and the US in 2018. Join our firm's Global Anti-Corruption Team as they explain and analyze these three countries' anti-corruption enforcement efforts and...more
12/20/2018
/ Alstom ,
Anti-Bribery ,
Anti-Corruption ,
Bribery ,
Chief Compliance Officers ,
Civil Monetary Penalty ,
Compliance ,
Cooperation ,
Corruption ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
France ,
KBR (formerly Kellogg Brown & Root) ,
Petrobras ,
Risk Management ,
Siemens ,
Teva Pharmaceuticals ,
UK ,
Voluntary Disclosure ,
White Collar Crimes
In its most recent 10-K, CHS, Inc., a global agribusiness dealing in energy, grains and food, revealed that it had self-disclosed to the Department of Justice and the SEC:
“potential violations of the FCPA in connection...more
On November 29, 2018, Deputy Attorney General Rod Rosenstein announced changes to the Department of Justice’s policy concerning individual accountability in corporate cases, stating that “pursuing individuals responsible for...more
For the next year, the Justice Department may be offering up to a 50% discount on fines imposed in FCPA cases. Yesterday, the U.S. Department of Justice’s (“DOJ”) Criminal Division announced the launch of a one-year pilot...more
4/7/2016
/ Compliance ,
Cooperation ,
Corporate Counsel ,
Corporate Misconduct ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Federal Pilot Programs ,
Federal Sentencing Guidelines ,
Foreign Corrupt Practices Act (FCPA) ,
Individual Accountability ,
Remediation ,
Self-Disclosure Requirements ,
Voluntary Disclosure ,
White Collar Crimes
On Tuesday, March 8, 2016, in conjunction with announcing a recent $2 million whistleblower award, Sean McKessey, Chief of the Office of the Whistleblower, stated that the SEC continues to see “a significant uptick” in the...more