Enforcement Archive

Dec 14, 2010
The full review of the Foreign Corrupt Practices Act can now be read in 14 different languages, after the Department of Justice (DoJ) unveiled the  brand new international language addition on its website. The goal of this initiative serves to ‘increase the general awareness and understanding of the FCPA by both US companies engaging in international business and their foreign counterparts,’ says the DoJ. Some of the languages include, French, Spanish,...
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Nov 05, 2010
SEC reaches out over whistleblower rules The much anticipated rule-making proposal on whistleblower compensation has been released by the SEC. The 181-page document raises dozens of questions and addresses most of the concerns raised about the highly-controversial regulation passed as part of the Dodd-Frank legislation. The proposal is likely to attract a flood of comments from corporate issuers and compliance professionals who are concerned that the rules wi...
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Oct 20, 2010
Much has been made of the UK’s 2010 Bribery Act, one of the first anti-corruption laws with extra-territorial reach to prohibit in explicit terms not just bribery of foreign officials but also more pedestrian commercial bribery (involving only private actors). Less noticed in most corporate compliance and risk management offices have been the efforts by the Department of Justice (DoJ) to expand the scope of US bribery prosecut...
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Sep 22, 2010
It’s often said that what business hates most is uncertainty. Unfortunately, the current economic environment is very long on uncertainty. Throw in some sweeping regulatory reform, and companies are right to be worried. But perhaps the biggest concern at many firms right now is the increasingly aggressive stance the Department of Justice (DoJ) and SEC are taking on violations of the Foreign Corrupt Practices Act (FCPA). According to a report from Gibson Dunn &...
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Aug 01, 2010
It is not just US firms that have to worry about being punished for bribery activity in international jurisdictions. This is the finding of a new report from Trace International. The US is – unsurprisingly – the most active country when it comes to pursuing anti-bribery actions against corporations, thanks largely to an increased focus on the Foreign Corrupt Practices Act (FCPA) on the part of the Department of Justice. Also not particularly surprising is that t...
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Feb 01, 2010
The year 2009 will be remembered primarily for the calamitous recession and the regulatory authorities’ haphazard and controversial response to it. While dealing with the fallout of the worst financial crisis in 70 years, corporate boards around the world were also quietly grappling with another kind of scourge: financial fraud. Around one third of companies were victimized by economic crime last year, and almost half say they saw cases of business fraud in...
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Nov 01, 2009
As the global economy shows nascent signs of being on the road to recovery, many businesses are looking to adapt quickly to take advantage of the change and near-term opportunities. This will mean different routes for different businesses – merger and acquisition activity for some, unlocking value through divesting of non-core divisions for others. Certain private equity houses are likely, in time, to look at realizing many of their investments through IPOs if the capita...
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Jun 01, 2009
Under heightened scrutiny, but with its staff empowered by reforms mandated by new chairman Mary Schapiro, the SEC reached 182 new settlements in the first quarter of 2009. This exceeds both the 123 settlements in the previous quarter and the 157 settlements in the first quarter of 2008. The five largest settlements in the first quarter of 2009 are shown in part two of the chart on the following page, Settlement stats. The largest settlement was the $200 mill...
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