Entries tagged: fcpa

In a Blow to Government, Second Circuit Curtails Extraterritorial Reach of FCPA

By: Justin Ryu, Esq.

Posted: October 18th, 2018

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In a recent decision with implications for the extraterritorial reach of the Foreign Corrupt Practices Act (FCPA), the U.S. Court of Appeals for the Second Circuit held in United States v. Hoskins that foreign nationals who cannot be convicted as principals under the FCPA cannot be held liable for conspiring to violate, or aiding and […]

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Société Générale Settles One of the Largest Anti-Corruption Enforcement Actions in History

By: Jack Harrington, Esq.

Posted: June 13th, 2018

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On June 4, 2018, Paris-based financial giant Société Générale agreed to pay the United States and France a total of $860 million in criminal penalties for bribing Libyan officials and manipulating the London InterBank Offered Rate (LIBOR), a global benchmark interest rate.  The bank’s U.S. subsidiary, SGA Société Générale Acceptance N.V., pleaded guilty in the […]

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To Disclose or Not to Disclose: The DOJ’s New Anti-Corruption Corporate Enforcement Policy

By: Jack Harrington, Esq.

Posted: April 20th, 2018

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In April 2016, the Department of Justice (DOJ) launched an experimental Foreign Corrupt Practices Act (FCPA) enforcement policy known as the “Pilot Program.”  For those unfamiliar, the FCPA is a U.S. law that prohibits business from bribing foreign officials and requires certain accounting transparency among public companies.  The FCPA is enforced both criminally and civilly, […]

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Lessons Learned from FCPA Enforcement in 2017

By: Jack Harrington, Esq.

Posted: January 22nd, 2018

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The Department of Justice’s (“DOJ”) Foreign Corrupt Practices Act (“FCPA”) enforcement efforts ended 2017 with a bang on December 22, when the United States Attorney’s Office for the Eastern District of New York and the DOJ Fraud Section announced $422 million in criminal penalties against Keppel Offshore & Marine Ltd and its U.S. subsidiary (“Keppel […]

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Thinking Positively About International Compliance

By: Jack Harrington, Esq.

Posted: July 28th, 2017

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Companies tend to think about corporate functions as one of two things: a revenue center or a cost center.  An employee or division of a company either makes money or costs money. Human Resources, for instance, is typically considered a supporting function: a cost center.  A sales team, by contrast, is a revenue center.  Companies […]

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JP Morgan Pays $264 Million to Resolve “Princelings” FCPA Investigation

By: Jack Harrington, Esq.

Posted: December 20th, 2016

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Last month, JP Morgan entered into a landmark settlement agreement in which it agreed to pay $264.4 million to the DOJ, SEC, and Federal Reserve to resolve Foreign Corrupt Practices Act (“FCPA”) offenses for providing jobs to the relatives of Chinese government officials to secure the underwriting of Chinese state-owned companies’ initial public offerings (“IPO”).  […]

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The Internationalization of Anti-Corruption Investigations and Enforcement

By: Jack Harrington, Esq.

Posted: November 28th, 2016

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In November 2016, France adopted new anti-corruption legislation permitting deferred prosecution agreements in bribery cases.  In July 2017, Mexico’s new anti-corruption law will take effect.  The more-stringent law should prompt all companies operating in Mexico to re-evaluate their anti-corruption compliance programs.  And in February of this year, China released draft amendments of a new law […]

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When a Charitable Donation is a Bribe

By: Jack Harrington, Esq.

Posted: October 26th, 2016

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    On September 20, 2016, Nu Skin Enterprises, Inc., a Utah-based skincare products manufacturer, agreed to pay $765,688 to settle SEC charges that the company violated the Foreign Corrupt Practices Act (“FCPA”).  In short, the FCPA prohibits U.S. companies from bribing foreign officials to secure an improper business advantage.  As I have written about […]

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How to Avoid a “Paper” Anti-Corruption Compliance Program

By: Jack Harrington, Esq.

Posted: September 16th, 2016

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    In December 2008, Siemens AG, Europe’s largest engineering and electronics conglomerate, settled Foreign Corrupt Practices Act (“FCPA”) charges with the DOJ and SEC for a record-setting $800 million. Aside from the scope of the violations and the size of the penalties, the Siemens case was noteworthy because it so clearly criticized the deficiencies […]

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Life Science Companies under Increasing DOJ and SEC Scrutiny for Anti-Corruption Enforcement

By: Jack Harrington, Esq.

Posted: August 23rd, 2016

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The pharmaceutical and medical device industry has always been among the most heavily regulated in the United States.  In recent years, however, these companies have become the subject of another regulatory and law enforcement focus: the Foreign Corrupt Practices Act (FCPA). The FCPA is a federal law that prohibits U.S. persons, companies, and issuers from, […]

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