I’m old enough to remember when seat belts were optional. And I remember people up in arms when seatbelt laws first passed. But now, my young adult children and their friends simply get in the car and buckle up without...more
Franks International (“Frank’s”) settled FCPA charges with the SEC for $8 million stemming from operations in Angola during the period 2008 to 2014. The Justice Department declined to prosecute Frank’s for the same events....more
5/11/2023
/ Angola ,
Anti-Corruption ,
Bribery ,
Compliance ,
Corruption ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Natural Gas ,
Oil & Gas ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes
Companies have to demand a new focus from their CEOs, senior executives and legal compliance team in response to the new DOJ and regulatory initiatives. These steps are not just suggestions nor items that can be prioritized...more
We are living in a rapidly changing economic landscape. Companies are under the gun to navigate “traditional issues,” such as challenging economic conditions ranging from inflation, and a predicted recession, to supply chain...more
The famous swashbuckling adventure of The Three Musketeers should inspire chief compliance officers to pursue an important concept – the need for teamwork and collaboration is imperative for all compliance programs. We all...more
Once defined, installed, and surrounded with a consequence management system, a corporate culture is not fixed in stone. To the contrary, as the business adapts through growth, innovation or in response to outside market and...more
As a company’s most valuable intangible asset, we have witnessed the wreckage of companies that have fallen victim to reputational damage, scandal and ultimately the wasteland of a rotten corporate culture. In these...more
Everyone has jumped on the corporate culture bandwagon. For some new converts, they like to espouse corporate culture as a recent discovery, or a new-fangled approach for compliance programs....more
Rio Tinto, the global mining and metals company, agreed to pay the SEC $15 million to settle FCPA violations arising from an alleged bribery scheme involving a senior Guinean government official....more
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,...more
3/28/2023
/ Bribery ,
Compliance ,
Corruption ,
Due Diligence ,
Enforcement Actions ,
Foreign Acquisitions ,
Foreign Corrupt Practices Act (FCPA) ,
Online Gaming ,
Russia ,
Securities and Exchange Commission (SEC) ,
Sports Betting ,
White Collar Crimes
The Justice Department has been pushing its voluntary self-disclosure program and changes to its Corporate Enforcement Policy, in an attempt to increase FCPA enforcement cooperation. The Golden Ring for every company facing...more
3/23/2023
/ Bribery ,
Compliance ,
Corporate Misconduct ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Guidance ,
FCPA Corporate Enforcement Policy (CEP) ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
Voluntary Disclosure ,
White Collar Crimes
The Justice Department is focusing with a laser beam on corporate incentives and disincentives. This truly is a remarkable initiative and companies should undertake their own holistic review of internal incentives and...more
The Justice Department is rapidly pushing corporations to a new level of compliance. We are witnessing a watershed moment – DOJ is raising the bar on expectations surrounding corporate compliance programs. It would be a...more
The end of the road for Roger Ng, the Goldman Sachs Investment Banker, who played a critical role in the Goldman Sachs 1 MDB Malaysia scandal, was not a pretty one. District Judge Margo Brodie gave Ng a severe sentence of...more
3/16/2023
/ 1MDB ,
Bonds ,
Bribery ,
Compliance ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Goldman Sachs ,
Malaysia ,
Money Laundering ,
Sovereign Wealth Funds ,
White Collar Crimes
The Justice Department continues to push on white collar corporate enforcement, and the intersection of national security sanctions and export controls with corporate criminal enforcement. Last week, Lisa Monaco, DOJ’s...more
3/10/2023
/ Administrative Appointments ,
Anti-Corruption ,
BSA/AML ,
Compliance ,
Compliance Management Systems ,
Corporate Culture ,
Corporate Governance ,
Criminal Investigations ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Ethics ,
Export Controls ,
Money Laundering ,
White Collar Crimes
This is not your typical FCPA enforcement action Lessons Learned column. Instead, Ericsson’s breach of its DPA presents a laundry list of internal investigation errors – as a practitioner in this area, this is the nightmare...more
3/9/2023
/ Bribery ,
Compliance ,
Corporate Culture ,
Corruption ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Document Management ,
Enforcement Actions ,
Ericsson ,
Foreign Corrupt Practices Act (FCPA) ,
Internal Investigations ,
Telecommunications ,
White Collar Crimes
Ericsson’s breach of its 2019 Deferred Prosecution Agreement reads like an internal investigation horror show. It is every investigator’s nightmare scenario – failure to discover evidence that was available to inform and...more
3/8/2023
/ Bribery ,
Compliance ,
Corporate Misconduct ,
Corruption ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Ericsson ,
Failure To Disclose ,
Iraq ,
Telecommunications ,
White Collar Crimes
Ericsson, a multinational telecommunications company, based in Sweden, settled its breach of its 2019 Deferred Prosecution Agreement, agreed to enter a guilty plea and pay a $206 million penalty. In 2019, Ericsson entered...more
3/7/2023
/ Anti-Bribery ,
Anti-Corruption ,
Bribery ,
Compliance ,
Corruption ,
Criminal Investigations ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Ericsson ,
Foreign Corrupt Practices Act (FCPA) ,
Guilty Pleas ,
Iraq ,
ISIS ,
Securities and Exchange Commission (SEC) ,
Telecommunications ,
White Collar Crimes
The Justice Department is on a marketing campaign – pushing a simple message. If your company commits misconduct, come in and confess to the Justice Department. To push this message, DOJ has tinkered with its Corporate...more
I am sticking with my 2023 prediction – DOJ is committed to aggressive enforcement of the Russia sanctions. Most of its efforts to date have been directed against Russian Oligarchs and significant evaders who are moving...more
3/1/2023
/ Civil Forfeiture ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement Actions ,
Foreign Policy ,
Indictments ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanction Violations ,
SDN List ,
Ukraine ,
White Collar Crimes
In a recent decision, the Fifth Circuit Court of Appeals handed the U.S. Justice Department a victory in reversing an “out-of-whack” trial judge’s dismissal of two separate criminal indictments that were consolidated on...more
2/22/2023
/ Bribery ,
Compliance ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Extraterritoriality Rules ,
Foreign Corrupt Practices Act (FCPA) ,
Indictments ,
Money Laundering ,
White Collar Crimes
In its first enforcement action of 2023, the Justice Department charged a Connecticut man and a foreign national with FCPA bribery and money laundering charges stemming from a bribery scheme to secure contracts with Petrobras...more
2/21/2023
/ Bribery ,
Compliance ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Money Laundering ,
Oil & Gas ,
Petrobras ,
Popular ,
White Collar Crimes
The Justice Department has taken steps to implement its new compliance compensation requirement announced in its Corporate Enforcement Policy revisions. With little fanfare, the Danske Bank $2 billion settlement with the...more
Here are some basic propositions that surround FCPA compliance. It is often underplayed that the FCPA contains more than just a bribery prohibition – the FCPA contains broad provisions, requiring accurate books and records...more
2/8/2023
/ Anti-Corruption ,
Bribery ,
Compliance ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Ethics ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
Internal Controls ,
White Collar Crimes
DOJ is poised for a big year in the enforcement of Russian Sanctions and seizure of assets connected to Russian Oligarchs. It has been nearly a year since the U.S., its allies and partners have unleashed robust sanctions...more