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As highlighted in this prior post, in 2012 medical devices maker Smith & Nephew plc (a U.K. company with ADR shares traded on the New York Stock Exchange) resolved a $22 million Foreign Corrupt Practices Act enforcement action concerning conduct in Greece. According to the DOJ, “Smith & Nephew, through certain executives, employees and affiliates, agreed to sell products at full list price to a Greek distributor based in Athens, and then pay the amount…
Foreign Corrupt Practices Act settlement amounts are one obvious consequence of FCPA non-compliance and tend to generate the most headlines. However, as has been discussed on these pages for years  including in this article “FCPA Ripples”, settlement amounts are only one consequence of the overall financial ramifications of FCPA scrutiny and enforcement. As highlighted in this prior post, in late 2019 Swedish telecom company Ericsson (a company with American Depositary Shares traded in the U.S.)…
The FCPA Flash podcast provides in an audio format the same fresh, candid, and informed commentary about the Foreign Corrupt Practices Act and related topics as readers have come to expect from written posts on FCPA Professor. This FCPA Flash episode is a conversation with Matthew Galvin (Global Vice President, Ethics & Compliance at AB-InBev). During the podcast, Galvin talks about the company’s BrewRight compliance system including: the origins of BrewRight; what BrewRight is; and…
Here in Packerland, there is much angst over the apparent reluctance of Aaron Rodgers to return to the Green Bay Packers as quarterback. This is no small matter as Rodgers is the reigning NFL MVP and … well … this is Packerland. Some Packer fans are not sitting on the sidelines as passive observers. For instance, Mr. Brews Taphouse is offering Rodgers (along with his fiance) free burgers and beer for life if he agrees…
A guest post from David Corker (a Partner at Corker Binning Corker in London). The cornerstone of the Deferred Prosecution Agreement (‘DPA’) regime in our jurisdiction is the centrality of the court. At the start of both his preliminary and final judgments delivered in the first DPA in 2015, Leveson P intended that his affirmation of this principle would become, as indeed it has, axiomatic. Almost every subsequent judgment endorsing a DPA has recited his…
As sure as the sun rises in the east and dogs bark – and following a well traveled career path – DOJ FCPA Unit Chief Christopher Cestaro is joining a law firm (WilmerHale) for an FCPA practice. (See here). According to the WilmerHale release: “As head of the FCPA Unit, Mr. Cestaro oversaw all the Justice Department’s FCPA investigations, prosecutions and resolutions in the US. He supervised many of the government’s most challenging and…
The FCPA Flash podcast provides in an audio format the same fresh, candid, and informed commentary about the Foreign Corrupt Practices Act and related topics as readers have come to expect from written posts on FCPA Professor. This FCPA Flash podcast episode is a conversation with Douglas Zolkind. Zolkind recently joined the New York office of Debevoise & Plimpton after serving as an Assistant U.S. Attorney for the Southern District of New York. Among…
There are certain narratives in the Foreign Corrupt Practices Act space – while theoretically possible – are rarely, if ever, found in actual FCPA enforcement actions. For instance, all probably recognize that a bribe to foreign official to obtain a contract to build a bridge could – theoretically – result in the contract being awarded to a company that uses sub-standard steel causing the bridge to collapse and thus causing human injuries and/or death. Likewise,…
As highlighted in this prior post, in August 2018 the DOJ quitely posted to its FCPA website a so-called declination with disgorgement letter concerning Insurance Corporation of Barbados Limited (ICBL). Pursuant to the agreement, ICBL agreed to pay approximately $94,000 to the U.S. for alleged bribes to a Barbadian government official in exchange for insurance contracts. The official was identified as Donville Inniss (pictured) who during the relevant time period was a member of the Parliament…
The Supreme Court’s recent decision in AMG Capital Management v. Federal Trade Commission was not a Foreign Corrupt Practices Act case. Nor was the issue presented directly related to the FCPA. Nevertheless, AMG Capital Management was FCPA relevant because once again the Supreme Court bench slapped a wayward enforcement agency and reminded the legal community of the following basic point: a law means what it says and what Congress intended it to mean – not…