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In her recent speech in connection with release of a memo to DOJ personnel titled ““Further Revisions to Corporate Criminal Enforcement Policies Following Discussions with Corporate Crime Advisory Group” Deputy Attorney General Lisa Monaco stated: “Voluntary self-disclosure programs, in various Department components, have already been successful. Take, for example, the Antitrust Division’s Leniency Program, the Criminal Division’s voluntary disclosure program for FCPA violations, and the National Security Division’s program for export control and sanctions…
In July 2020, NewAge Inc. (a health and organic products company) announced a definitive agreement to acquire ARIIX, together with four additional companies in the e-commerce and direct selling channels, to “create a global firm with estimated pro forma revenues in excess of $500 million across more than 75 countries worldwide.” As highlighted in this prior post, in August 2021, NewAge disclosed: “In December 2020, the Company engaged external counsel, accountants, and other advisors…
Today’s post is from Debevoise attorneys Andrew Levine, Matthew French, and Nestor Almeida. In recent years – and notwithstanding encouraging windows of progress – economic difficulties, political shifts, and the pandemic’s lingering effects have undercut anti-corruption efforts in Latin America. The fourth annual Capacity to Combat Corruption Index (“CCC Index”), published in June 2022, reflects these recent challenges. Most countries in Latin America experienced declines in their assessed anti-corruption capabilities, with only…
Kroll’s recent 2022 Anti-Bribery and Corruption Benchmarking Report caught my eye (and not just because it contains beautiful photography of slot canyons and Moab, Utah area attractions such as Delicate Arch – from different vantage points – and Corona Arch). According to the report: “In February 2022, Kroll analyzed data from 100 U.S. and Canadian compliance professionals, the vast majority of whom projected confidence in their firms’ ability to meet challenges posed by new or…
As highlighted in this prior post, in February 2018 Albemarle Corp. (a North Carolina based chemical company) disclosed Foreign Corrupt Practices Act scrutiny. Specifically the company disclosed: “Following receipt of information regarding potential improper payments being made by third party sales representatives of our Refining Solutions business, we promptly retained outside counsel and forensic accountants to investigate potential violations of the Company’s Code of Conduct, the Foreign Corrupt Practices Act (“FCPA”), and other potentially…
As has been highlighted more than once on this website, the FCPA Blog is a frequent source of FCPA misinformation and rubbish. In this post, the FCPA Blog makes four false statements in one post. The FCPA Blog asserts: “From 2016 through 2020, 83 companies paid about $16.8 billion to resolve FCPA enforcement actions.” This is false.  From 2016 through 2020, 83 companies paid approximately $9.9 billion to resolve FCPA enforcement actions. (See here).…
As highlighted here, in mid-2019 Microsoft resolved a parallel DOJ and SEC Foreign Corrupt Practices Act enforcement action by agreeing to pay $25.3 million regarding conduct in Hungary, Saudi Arabia, Thailand and Turkey. Pursuant to a three year DOJ non-prosecution agreement (which still remains in effect), Microsoft agreed (among other things) that should it “learn of any evidence or allegation of conduct that may constitute a violation of the FCPA anti-bribery or accounting provisions had…
It has not been a good month for Instituto Mexicano del Seguro Social (IMSS – the Mexican Social Security Institute) in U.S. appellate courts. This recent post discussed a Sixth Circuit decision affirming the dismissal of a civil lawsuit on forum non conveniens grounds filed by IMSS against Stryker in the aftermath of the company’s FCPA enforcement action which involved, among other conduct, alleged bribery of IMSS officials. As highlighted in this prior post, in 2017…
As highlighted in this prior post, in 2019 Russia-based Mobile TeleSystems PJSC (MTS) agreed to resolve an $850 million DOJ/SEC FCPA enforcement action based on the same alleged core conduct in several other Uzbekistan telecom focused FCPA enforcement actions. (See here and here). As a condition of settlement, MTS was required to retain an independent compliance monitor. The company recently disclosed: “Compliance As disclosed in our prior Annual Reports and Forms 20-F, in March 2019,…
As discussed in this prior post, judicial findings of prosecutorial misconduct or other mishaps have been an all too frequent feature in contested individual Foreign Corrupt Practices Act enforcement actions. This recent post highlighted the start of the FCPA (and related) trial of Roger Ng (a former managing director at Goldman Sachs) for allegedly paying bribes to various Malaysian and Abu Dhabi officials in connection with 1Malaysia Development Berhad (1MDB), Malaysia’s state-owned and state-controlled investment…