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For at least 15 years the government has encouraged business organizations to voluntary disclosure conduct that violates the Foreign Corrupt Practices Act. In more recent years, in 2012 the government sought in the FCPA Guidance to entice business organizations to voluntarily disclose by, among other things, highlighting six “anonymized examples of matters DOJ and SEC have declined to pursue” where a common thread was voluntary disclosure. In April 2016, it was the DOJ’s pilot program,…
Granted football this Fall may not be as widespread as previous years because of COVID. However, games have begun and for Foreign Corrupt Practices Act (and related) professionals, understanding the game is not just a professional diversion, but one that can actually add professional value as well. The reason is because understanding what makes a football organization successful can also inform FCPA compliance in a business organization. In the spirit of the season, my article…
The FCPA Institute Online is the most comprehensive online FCPA training course available and is a time and cost efficient way for in-house and outside counsel; compliance professionals; finance, accounting, and auditing professionals; business executives and others to elevate their FCPA knowledge and practical skills. The FCPA Institute Online consists of over 12 hours of narrated instruction from Professor Koehler (as well as availability to answer questions) and guides professionals through the following FCPA topics…
As highlighted in this prior post, in February 2019 (based on the same core action in the Cognizant Foreign Corrupt Practices Act enforcement action) Gordon Coburn (former President of the company) and Steven Schwartz (former Executive Vice President, Chief Legal and Corporate Affairs Officer) were criminally and civilly charged by the DOJ and SEC. The defendants are putting the government to its burden of proof and as highlighted in this prior post last Fall the…
Recently, the U.S. State Department released 2020 “Investment Climate Statements.”  The annual reports cover over 170 foreign markets and are prepared by “economic officers at U.S. embassies and diplomatic missions” to help U.S. companies make informed business decisions. Corruption is prominently mentioned in most country investment climate statements. However, this “2020 Mongolia Investment Climate Statement” particularly caught my eye – not because Mongolia is a prominent market for U.S. businesses – but rather because the…
The timing of Foreign Corrupt Practices Act enforcement actions are sometimes difficult to predict. However, with history as a guide the SEC is likely to announce several corporate FCPA enforcement actions over the next few weeks. Why? Because the SEC’s fiscal year ends on September 30th. In 2019, four SEC corporate enforcement actions were announced in September. Barclays (Sept. 27th) Westport Fuel (Sept. 27th) Quad Graphics (Sept. 26th) Technip (Sept. 19th) In 2018, four SEC…
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. Numerous FCPA enforcement actions have involved abuse of employee reimbursements. However, the recent Herbalife enforcement action is in a league of its own and represents employee reimbursements gone wild. As discussed here, in the recent…
Some things written about the Foreign Corrupt Practices Act and related topics in recent years are nothing short of bewildering. In certain instances, there seems to be little understanding of context and little regard for actual facts. As highlighted below, a recent example is this recent Forbes article by Robert Anello (a lawyer at Morvillo Abramowitz Grand Iason & Anello) titled “Who Watches the Store? Drastic Decline of Corporate Monitors Under Trump.” To begin, the article…
Reynolds Group Holdings Limited is a New Zealand based packaging company that is to be converted to a Delaware corporation and renamed Pactiv Evergreen Inc. Recently it announced its intention to offer approximately 41 million shares in a U.S. initial public offering. In this Registration Statement, the company disclosed: “In August 2020, we identified practices in our Evergreen Packaging Shanghai business (“EPS”), which is part of our Beverage Merchandising segment, that involve acts potentially…
When the government charges individuals with Foreign Corrupt Practices Act violations and then subsequently charges a business organization with FCPA violations based on the same core allegations one might expect the allegations to be consistent. However, as highlighted below in connection with the DOJ/SEC’s individual enforcement action against former Herbalife China executives (see here for the prior post) and its subsequent enforcement against Herbalife (see here and here for prior posts), in the later enforcement action…