In written responses released earlier this week, Senator Jeff Sessions of Alabama reaffirmed that he will enforce the Foreign Corrupt Practices Act and the International Anti-Bribery Act of 1988 if he is confirmed as US Attorney General. Sen. Sessions was
International Trade Law Compass
The International Trade Law Compass, published by Fox Rothschild LLP, focuses on developments in international trade law including tariffs, trade agreements, customs regulations, and foreign investment controls. It covers topics such as U.S. trade policy changes affecting imports and exports, compliance with trade agreements like USMCA, tariff disputes and retaliations, country of origin marking requirements, and regulatory updates on foreign investment reviews under laws like FIRRMA. The blog provides guidance on trade compliance, certificates of origin, and the impact of geopolitical events on trade relations, particularly between the U.S., China, Canada, and Hong Kong.
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$3.5 Billion Fine Part of Guilty Plea in “Largest Foreign Bribery Case in History”
Earlier today, the Department of Justice announced that construction conglomerate Odebrecht SA and its affiliate Braskem SA have pleaded guilty to their maintenance of an elaborate bribery scheme which paid out approximately $788 million in bribes to government officials around…
Report Ranks Countries Prone to Bribery
In a recently released report, TRACE International, an international anti-bribery business association, ranked 199 countries based on the risk of encountering bribery within the country’s public sector.
Go to Interactive Map (credit: TRACE International)
The TRACE Matrix’s rating are based…
The United Nations Tightens Sanctions on North Korea
The 15-member U.N. Security Council (the Council) imposed new sanctions on North Korea (also known as the Democratic People’s Republic of Korea or DPRK) on November 30, 2016 by unanimously approving a resolution imposing new sanctions — UN Security Council…
The Future of the Trans-Pacific Partnership
US President-elect Trump has promised to abandon the Trans-Pacific Partnership (TPP) trade deal as soon as he takes office. Trump has promised to leave the TPP, which took the Obama administration seven years to negotiate, and instead “negotiate fair bilateral…
FCPA Enforcement Actions on Breakneck Pace in 2016
The FCPA Pilot Program at Six Months: What Has It Meant for Business of All Sizes
In an recent article on Law360, Robert W. Kent, Jr. looked at lessons to be learned from the first six months of the Department of Justice’s Foreign Corrupt Practices Act (FCPA) Pilot Program. Announced in April 2016, the year-long…
Seed Company Settles Claims with OFAC in “Egregious Case”
On September 13, 2016, the Department of Treasury’s Office of Foreign Assets Control (“OFAC”) announced a $4.3 million settlement with international seed producer and exporter PanAmerican Seed Company (“PanAm Seed”). In its official statement regarding the…
SEC Order Offers Glimpse into AstraZeneca FCPA Settlement
UK-Based biopharmaceutical company AstraZeneca agreed to pay the U.S. Securities and Exchange Commission (SEC) $5.5 million to settle claims that its Chinese and Russian subsidiaries had made improper payments to state-controlled health care providers in violation of the Foreign Corrupt…
AstraZeneca to Pay $5.5M to the SEC for FCPA Violations
AstraZeneca will pay $5.5M to the Securities and Exchange Commission to settle claims that it violated the Foreign Corrupt Practices Act by making improper payments to state controlled health care providers in China and Russia.
Background
The SEC complaint provides…