FCPA Professor LLC

Described as “the Wall Street Journal concerning all things FCPA-related,” and "the most authoritative source for those seeking to understand and apply the FCPA," FCPA Professor has been named a Top Law Blog for in-house counsel by Corporate Counsel, a Top 25 Business Law Blog by LexisNexis, and a top 100 Legal Blog by the American Bar Association. FCPA Professor readers include a world-wide audience of attorneys, business and compliance professionals, government agencies, scholars and students, journalists and other interested persons.

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As highlighted in prior posts here, here, and here, in November 2012 the DOJ and SEC released “A Resource Guide to the Foreign Corrupt Practices Act” (FCPA Guidance). The release was accompanied by DOJ and SEC press releases as well as a press conference. Today, a Friday of a holiday weekend the DOJ and SEC quietly released a Second Edition of the FCPA Guidance. Like the original guidance, the Second Edition contains…
Yesterday, the SEC announced that Alexion Pharmaceuticals (a company that has been under scrutiny since mid-2015) agreed to approximately $21.5 million to resolve an enforcement action based on the actions of foreign subsidiaries involving the company’s primary drug Soliris. The conduct at issue focused on Alexion Illac Ticarent Limited Sirketi (Alexion Turkey), Alexion Pharma OOO (Alexion Russia), Alexion Pharma Brazil and Alexion Pharma Colombia SAS (all wholly-owned subsidiaries whose books and records were consolidated into…
This post highlights Foreign Corrupt Practices Act enforcement and related developments at the mid-point of 2020. As highlighted below, in four core corporate enforcement actions, the government has secured $674 million. None of the enforcement actions have resulted in any related charges against company employees. For a similar post at the mid-point of 2019 see here, for 2018 see here, for 2017 see here, and for 2016 see here. This post…
This post provides a summary of Foreign Corrupt Practices Act enforcement activity and related developments from the second quarter of 2020. For a similar post from Q1 2020, see here. In many respects, the second quarter of 2020 was likely the most unique quarter in FCPA history given the impacts of COVID-19. DOJ Enforcement (Corporate) The DOJ brought one corporate FCPA enforcement action in the second quarter. DOJ recovery in this action was approximately…
A guest post today from Paris-based Bryan Cave Leighton Paisner attorneys Cécile Terret and David Père. On 2 June 2020, French Minister of Justice Nicole Belloubet released guidelines to prosecutors setting out the contours of French criminal policy regarding international corruption (the “Note”). This Note recalls the major role to be played by the National Financial Prosecutor’s Office (PNF) and then presents the principles that should guide legal action and sanctions. The Note highlights the will of French…
This recent post highlighted the $347 million Foreign Corrupt Practices Act enforcement action against Novartis – the second time the company has resolved an FCPA enforcement action. This post highlights additional issues to consider. Timeline In its most recent annual report, the company disclosed: “In 2016, the Seoul Western District Prosecutor initiated a criminal investigation into, among other things, allegations that Novartis Korea utilized medical journals to provide inappropriate economic benefits to HCPs, which…
FCPA Professor has been described as “the Wall Street Journal concerning all things FCPA-related,” and “the most authoritative source for those seeking to understand and apply the FCPA.” Set forth below are the topics discussed this week on FCPA Professor. As highlighted here, Novartis joined the repeat offender club – this time paying approximately $347 million to resolve an FCPA enforcement action concerning subsidiary conduct in Greece, Vietnam and South Korea. As discussed in…
What happens when the Greek, Swiss, and South Korean subsidiaries of a Swiss company engage in improper conduct in Greece, Vietnam and South Korea? Why of course, approximately $345 million flows into the U.S. treasury. Yesterday, Novartis joined the long and growing list of FCPA repeat offenders as the DOJ and SEC announced (see here and here) a combined approximate $347 million enforcement action. (As highlighted in this prior post, in 2016 Swiss…
The 2016 D.C. Circuit opinion in U.S. v. Fokker Services was not a Foreign Corrupt Practices Act enforcement action, but was nevertheless highlighted on these pages because it involved the authority of a trial court judge regarding deferred prosecution agreements (which are frequently used to resolve FCPA enforcement actions). As highlighted in this post, the D.C. Circuit held that trial court judges lack authority to reject DOJ DPAs because the charging authority of the Executive branch (the…
Yesterday’s post highlighted the Supreme Court’s decision in Liu v. SEC in which the court held that for purposes of 15 USC 78u(d)(5) (concerning SEC actions in federal court) that “a disgorgement award that does not exceed a wrongdoer’s net profits and is awarded for victims is equitable relief permissible” under 78u(d)(5). The decision was 8-1 as Justice Clarence Thomas dissented. As discussed below, in his dissent Justice Thomas provided a disgorgement history lesson and asked an…