Cyber security is an area that has rapidly evolved over the past few years. Once a threat that was considered obscure by some and not significant by others, it is now a key area of focus for many. The stakes today are by any...more
Things change, at least sometimes. Take Crypto assets. They began as a way to “get off the grid.” Over time some came on to the grid as their popularity increased. Others stayed off....more
12/15/2022
/ Criminal Prosecution ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Assets ,
Internal Controls ,
Investors ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Trading Platforms
Cooperation is frequently touted as the “secret sauce” that can help an issuer or individual facing potentially harsh regulatory scrutiny and sanctions for wrongful conduct mitigate the resolution of the action. Different...more
The Department of Justice issued its first FCPA opinion in six years on August 14, 2020. Foreign Corrupt Practices Act Review, Opinion Procedure Release, No.: 20-01. The opinion process provides a mechanism by which a...more
The CFTC Division of Enforcement filed its Third Annual Report at the end of November 2019, reviewing the fiscal year. The Report is the typical mixture of goals, statistics, analysis and initiatives. Overall it offers...more
Uneconomic trading in regulated markets is a key focus of market regulators such as the DOJ, SEC, CFTC and FERC. Traders at times, for example, take different positions in select markets which can result in losses in one...more
SEC Chairman Jay Clayton called for greater international cooperation in the enforcement of anti-corruption statutes such as the Foreign Corrupt Practices Act in remarks delivered before the Economic Club of New York on...more
The Department of Justice and the Securities and Exchange Commission have repeatedly focused on corporate compliance in recent years as a way to mitigate liability. Neither the DOJ nor the SEC is about to recognize a...more
Individual responsibility and accountability became a critical issue in the wake of the great financial crisis. From Capitol Hill to the cross-streets of small-town America it frequently seemed that the question of the day...more
Despite the fact that the Foreign Corrupt Practices Act has been in force for decades there is relatively little case law interpreting its provisions. A great deal of the existing interpretation of the Act stems from...more
9/12/2018
/ Bribery ,
Compliance ,
Conspiracies ,
Criminal Conspiracy ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Indictments ,
Popular ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes
Virtual currencies have risen from a little known tech curiosity to what some see as the next great investment opportunity in contrast to others who see little but fraud. An alphabet soup of regulators are struggling to apply...more
3/21/2018
/ CFTC ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FinCEN ,
Popular ,
Regulatory Oversight ,
Regulatory Standards ,
Securities and Exchange Commission (SEC) ,
Unregistered Securities ,
Virtual Currency
Keeping ahead of global anti-corruption trends is critical in today’s business markets. The Dorsey Anti-Corruption Digest, which puts global trends at your fingertips, puts you ahead. The deep experience of the Dorsey...more
3/9/2018
/ Airbus ,
Barclays ,
Criminal Conspiracy ,
Criminal Prosecution ,
Declination ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Money Laundering ,
Nestle ,
Securities and Exchange Commission (SEC) ,
State-Owned Enterprises ,
Suspensions & Debarments ,
White Collar Crimes
Keeping ahead of global anti-corruption trends is critical in today’s business markets. The Dorsey Anti-Corruption Digest, which puts global trends at your fingertips, puts you ahead. The deep experience of the Dorsey...more
1/9/2018
/ Anti-Corruption ,
Austria ,
Bribery ,
Compliance ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
Extradition ,
Fédération Internationale de Football Association (FIFA) ,
Foreign Corrupt Practices Act (FCPA) ,
France ,
India ,
Money Laundering ,
Netherlands ,
Russia ,
Securities and Exchange Commission (SEC) ,
Siemens ,
Suspensions & Debarments ,
UK ,
Ukraine
Deputy Attorney General Rod Rosenstein announced the addition of a new Department of Justice (DOJ) Foreign Corrupt Practices Act (FCPA) policy, titled the FCPA Corporate Enforcement Policy. The new policy, which was...more
12/7/2017
/ Airbus ,
Compliance ,
Corruption ,
Criminal Convictions ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Extractive Industry Transparency Rule ,
Fédération Internationale de Football Association (FIFA) ,
Foreign Corrupt Practices Act (FCPA) ,
HSBC ,
Popular ,
Rolls-Royce ,
Securities and Exchange Commission (SEC) ,
Serious Fraud Office (SFO) ,
Wal-Mart ,
World Bank
Keeping ahead of global anti-corruption trends is critical in today’s business markets. The Dorsey Anti-Corruption Digest, which puts global trends at your fingertips, puts you ahead. The deep experience of the Dorsey...more
9/8/2017
/ Bribery ,
Compliance ,
Conflicts of Interest ,
Corruption ,
Criminal Conspiracy ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Forfeiture ,
GlaxoSmithKline ,
Internal Controls ,
Money Laundering ,
Oil & Gas ,
Petrobras ,
Rolls-Royce ,
Securities and Exchange Commission (SEC) ,
Serious Fraud Office (SFO) ,
Theft ,
Uber
Welcome to Dorsey & Whitney’s monthly Anti-Corruption Digest. The Digest puts material regarding anti-corruption enforcement from around the world at your fingertips, keeping you ahead of critical events that impact global...more
7/7/2017
/ Bribery ,
Chief Compliance Officers ,
Civil Monetary Penalty ,
Compliance ,
Criminal Convictions ,
Criminal Prosecution ,
Declination ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Actions ,
Fédération Internationale de Football Association (FIFA) ,
Financial Conduct Authority (FCA) ,
Foreign Corrupt Practices Act (FCPA) ,
Money Laundering ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Statute of Limitations ,
Tax Evasion
The classic 1957 American mystery film “Three Faces of Eve,” about a woman with multiple personalities, may well describe the approach taken by the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange...more
Welcome to Dorsey & Whitney’s monthly Anti-Corruption Digest. In this digest, we draw together news of enforcement activity throughout the world and aim to reduce your information overload. Our London, Minneapolis, New York...more
4/28/2016
/ Alstom ,
Anti-Corruption ,
Avon ,
Brazil ,
Bribery ,
Compliance ,
Cooperation ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Egypt ,
Enforcement Actions ,
Federal Pilot Programs ,
Federal Sentencing Guidelines ,
Foreign Corrupt Practices Act (FCPA) ,
Kuwait ,
Novartis ,
Remediation ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Serbia ,
Serious Fraud Office (SFO) ,
Turkey ,
UK ,
Voluntary Disclosure ,
Wells Fargo ,
White Collar Crimes
FCPA cases typically center on the payment of bribes to obtain or retain business. The bribes paid are usually small in comparison to the profits achieved – the obvious motive for the wrongful conduct. The profits of course...more
4/11/2016
/ Casinos ,
China ,
Compliance ,
Corporate Counsel ,
Department of Justice (DOJ) ,
Financial Reporting ,
Foreign Corrupt Practices Act (FCPA) ,
Gaming ,
Hotels ,
Internal Controls ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
The Foreign Corrupt Practices Act was a key focus this week. The DOJ announced a new one year Pilot Program which holds the promise of a significant reduction in penalties if the firm self-reports and takes a series of steps....more
4/8/2016
/ Class Action ,
Compliance ,
Department of Justice (DOJ) ,
Electronic Trading ,
Enforcement Actions ,
Federal Pilot Programs ,
Foreign Corrupt Practices Act (FCPA) ,
Gaming Commissions ,
Hong Kong ,
Hong Kong Securities and Futures Commission (HKSFC) ,
Internal Controls ,
Moody's ,
PCAOB ,
Securities and Exchange Commission (SEC) ,
UK
DOJ’s continuing focus on individuals has spawned a new one year FCPA Pilot Program which offers companies enhanced cooperation credit The new Pilot Program is part of an overall effort to bolster FCPA compliance. Those...more
4/6/2016
/ Compliance ,
Cooperation ,
Corporate Misconduct ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Federal Pilot Programs ,
Foreign Corrupt Practices Act (FCPA) ,
Individual Accountability ,
Remedial Actions ,
Risk Assessment ,
Securities and Exchange Commission (SEC) ,
Self-Reporting
The Department of Justice resolved another FCPA investigation centered on payments made to health officials. Olympus Corporation of the Americas, a wholly owned subsidiary of Olympus Corporation, Tokyo, Japan, and Olympus...more
The Commission filed two settled FCPA cases this week. On was resolved with the payment of almost $800 million to the SEC, DOJ and Dutch regulators where about $114 million in bribes were paid. The other centered on the...more
The Commission has been tried to make accounting and financial fraud issues a key focus at least since the creation of the financial fraud task force two years ago. Last week the agency brought an action against Monsanto...more
Travel, entertainment and gifts tied to inadequate controls are recurrent themes in FCPA cases. Many of these cases involve the use of agents and center in China. Each of these recurrent items appear in the most recent FCPA...more
2/17/2016
/ China ,
Department of Justice (DOJ) ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Subsidiaries ,
Internal Controls ,
Internal Investigations ,
Meals-Gifts-and Entertainment Rules ,
Non-Prosecution Agreements ,
Popular ,
Securities and Exchange Commission (SEC) ,
Self-Reporting