Feb. 1, 2023
Feb. 1, 2023
Corporate Enforcement Policy Revisions: A More Amenable DOJ Looks to Negotiate
Announcing the DOJ’s Revised Corporate Enforcement Policy during a speech at Georgetown University, Assistant Attorney General Kenneth Polite, Jr. called on corporations to be “our allies in the fight against crime.” Via incentives in the revised policy, the DOJ invites not just corporate do-gooders of sorts—those who voluntarily self-report, cooperate, and remediate—but also more serious sinners (recidivists) to try and make a deal. This latest development seems an interesting shift coming just months after Deputy Attorney General Lisa Monaco warned so-called “frequent flyers” that the DOJ “will not shy away from bringing charges or requiring guilty pleas where facts and circumstances require.” In this first part of our article series, we look at the changes and the possible effect on self-reporting, as well as how these revisions fit in with Department initiatives. In the second part, we will take a closer look at aggravating factors, immediate self-disclosure and extraordinary cooperation, and discuss whether nondisclosure is still an option. See “Revised Monaco Memo Affects Compensation, Clawbacks and Monitorships” (Oct. 26, 2022) and “How the Revised Monaco Memo Alters Deal Making and Strategy” (Oct. 12, 2022). Read full article …
Checklist of Collateral Consequences From FCPA Enforcement Actions
Many companies and executives are well familiar with the significant direct consequences that arise from the resolution of FCPA enforcement actions. These include criminal convictions and fines for the company, disgorgement of profits, civil penalties, and prejudgment interest, as well as the potential for SEC/DOJ mandated corporate compliance monitors. Less familiar and often overlooked are the many and often substantial collateral consequences of entering into FCPA resolutions. The Foley & Lardner Anti-Bribery/FCPA team has for some time been compiling a list of these collateral consequences and this article represents their initial list and some examples from FCPA enforcement actions. We invite our readers to share additional consequences, examples, or other suggested modifications to the list by email to rebecca.parker@iongroup.com with the subject “Collateral Consequences Checklist.” Read full article …
Safran's Declination: Successor Liability and Promises Kept Under the FCPA Corporate Enforcement Policy
French aircraft manufacturer Safran’s voluntary disclosure, extensive cooperation and agreement to disgorge the $17.9 million in profits allegedly obtained through its bribery scheme in China were cited by the DOJ as key factors in its decision not to prosecute the company for FCPA violations, seeming to follow-through on the promises made under the FCPA Corporate Enforcement Policy and its 2016 predecessor, the FCPA Pilot Program. The Anti-Corruption Report spoke with Daniel Kahn, a partner at Davis Polk, and James Koukios, a partner at Morrison & Foerster, about Safran’s declination and what it signals for corporate compliance programs. See “Top FCPA Officials Discuss the State of Compliance and Advise on Negotiations, Presentations and When to Cooperate” (December 21, 2022). Read full article …
Honeywell’s Well-Done Damage Control? Assessing the Resolution
In a resolution that may be a win-win for both the government and the defendant, Honeywell has entered into a three-year deferred prosecution agreement with the DOJ to resolve allegations that the company conspired to violate the FCPA by offering a $4 million bribe to a former Petrobras executive. In all, Honeywell agreed to pay more than $160 million to resolve parallel global investigations. In the first part of this article series analyzing the resolution, we discussed the bribery scheme, what Honeywell did right, and the significance of the omission of a monitor from the resolution. In this second part, we discuss the certification requirements of the settlement, the effect of the size of the company on compliance and the international cooperation in the case. See “2022 FCPA Year in Review: Clawbacks, Messaging Apps and More Enforcement to Come” (Dec. 21. 2022). Read full article …
A Ransomware Tabletop’s 360-Degree Incident Response View: Days One to Four
The multiple challenges posed by cyberattacks, which have wreaked havoc on organizations in every industry sector, demand a carefully planned interdisciplinary approach. In a recent Practising Law Institute presentation, cybersecurity experts from Hunton, Brunswick Group and Stroz Friedberg walked through a hypothetical ransomware attack and discussed best practices for an appropriate incident response plan in the moments, hours and days that follow. This first article in a two-part series covers discovery of the breach through day four of the investigation, and part two will address day five through the post-mortem. While the hypothetical's company was fictitious, the incident discussed was inspired by real-life events and actual business impact and threat-actor activities. See “How Colonial Pipeline Changed Advice on Ransomware Preparation and Response” (Jun. 8, 2022). Read full article …
William McGovern and Wade Weems Form New Firm
William McGovern and Wade Weems, former partners at Kobre & Kim, have announced the formation of a new firm, McGovern Weems. Practice areas include business advisory, regulatory investigations and enforcement, internal investigations, white collar criminal matters, and monitorships. For more from Weems, see "The Latest Tool in the U.S. Enforcement Arsenal Against China Targets Forced Labor" (Jan 6. 2021); and "The Engel List Foreshadows U.S. Enforcement in Central America" (Dec. 1. 2021). For more from McGovern, see "DOJ Charges Former Executives of Herbalife Subsidiary in China with FCPA Violations" (Jan. 8. 2020). Read full article …
King & Spalding Adds Partner to its Government Investigations Team
King & Spalding has announced that Olivia Radin has joined the firm as a partner on its special matters and government investigations team. She is based in the New York office. For more from King & Spalding, see “Former Prosecutors’ Strategies to Minimize Pandemic-Related Compliance Risk” (Apr. 1, 2020). Read full article …
Nichols Liu Hires New Co-Chair of Global Compliance and Risk Practice
Laura Kennedy has joined Nichols Liu in Washington, D.C, as a partner and co-chair of its global compliance and risk practice. Read full article …
Most-Read Articles
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Jan. 18, 2023
Honeywell’s Well-Done Damage Control? How It Settled the Petrobras Problem and Dodged a Monitor -
Feb. 1, 2023
Corporate Enforcement Policy Revisions: A More Amenable DOJ Looks to Negotiate -
Jan. 18, 2023
Transparency of Beneficial Ownership Clashes With U.K. Privacy Laws -
Feb. 1, 2023
Checklist of Collateral Consequences From FCPA Enforcement Actions -
Dec. 21, 2022
2022 FCPA Year in Review: Clawbacks, Messaging Apps and More Enforcement to Come
Data, Culture, ESG and Scope Creep with GM's Michael Ortwein
Editor-in-Chief Rebecca Hughes Parker recently spoke with chief compliance officer and assistant general counsel at General Motors, Michael Ortwein, who shared his insights on top-of-mind issues in advance of his participation in this fall’s ACI FCPA Conference.
Corporate Compliance and Enforcement Hot Topics With IBM VP Una Dean
Editor-in-Chief Rebecca Hughes Parker recently spoke with IBM's vice president and assistant general counsel of investigations Una Dean, who will be co-chairing ACI's FCPA conference this fall, about a range of hot compliance topics.
The video is here
Quick Take on FARA
Global Editor-in-Chief Rebecca Hughes Parker discusses the Foreign Agents Registration Act (FARA) in this short video. For our three-part guide to FARA and the new risk environment, see here.
ACR Editor Discusses Using Artificial Intelligence to Support Anti-Corruption Compliance
Senior Editor Megan Zwiebel recently appeared on a podcast with Perkins Coie White Collar & Investigations partners Gina LaMonica and Caryn Trombino, who discussed the use of AI in compliance programs, including trends in AI-based compliance, steps companies can take to utilize AI in their compliance programs, and how regulators view the use of data and AI in compliance programs. Listen to the podcast here.
ACR Q3 Editorial Update
Listen to our Fall Editorial Update for a discussion of recent enforcement actions; enforcement trends and policies; and top-of-mind issues, such as internal investigations and hotlines, all in under 15 minutes. Register here.
ACR and CSLR Spring Update 2020
​​​​The Senior Editors of the Anti-Corruption Report and the Cybersecurity Law Report recently teamed up to present an update on the trends and hot topics in the anti-corruption, cybersecurity and data privacy spaces since the beginning of the year and what the publications will be focusing on in the coming months. A complimentary download of the webinar is available here.
Upcoming Webinar to Explore Best Practices for AML Compliance by Private Fund Managers
Please join our sister product, the Hedge Fund Law Report, on Thursday, May 30, 2019, at 11:00 a.m. EDT, for a complimentary webinar discussing the key components of a robust anti-money laundering program. To register for the webinar, click here.
ACR Webinar: The Art and Science of Transaction Monitoring: A Google Perspective
Transaction monitoring can help a company identify problem areas and assess how well its compliance program is working. Please join the Anti-Corruption Report for a complimentary webinar on May 2, 2019, from 1 p.m. to 2 p.m. EDT, where Senior Editor Megan Zwiebel will interview Google global ethics & compliance senior counsel Therese Lee and forensic program manager Aditya Yerramilli about how Google handles the art and science of transaction monitoring. Registration information is here.
ACR Webinar: Mitigating Risk in Argentina After the Notebooks Scandal
Doing business in a country that is embroiled in a mega-scandal can be treacherous. This is particularly true when the local business community is slow to get on the compliance bandwagon, as has been the case in Argentina while the Notebooks Scandal has been unfolding. Please join the Anti-Corruption Report on April 17, 2019, from 1:00 p.m. to 2:00 p.m. EDT for a complimentary webinar in which Editor-in-Chief Nicole Di Schino will discuss how to mitigate risk in light of the developing scandal with Argentinian attorney Guillermo Jorge, a partner at Bruchou, Fernandez Madero & Lombardi, and Barrick Gold’s Jonathan Drimmer. To register, please click here.