Two recent opinions released by the Department of Justice (DOJ) serve as a reminder that even under the strictly enforced Foreign Corrupt Practices Act (FCPA), payments to government officials are permissible in certain situations. Given how rarely DOJ issues such opinions and because each provides insight into DOJ’s current view of enforcement in particular scenarios, it is worth considering what can be learned from each opinion.Continue Reading FCPA Update: DOJ Opinion Procedure Releases Underscore That Payments to Officials Are Sometimes Permitted
Updates to FCPA and Impact for Healthcare Companies
We co-authored an article for Compliance Today with Channing Landreth, the associate vice president and managing counsel at Labcorp, to summarize how recent developments related to the Foreign Corrupt Practices Act (FCPA) impact healthcare companies. Continue Reading Updates to FCPA and Impact for Healthcare Companies
FCPA Enforcement: New Corporate Enforcement Policy, Aggressive Enforcement, and Lessons Learned From Recent Resolutions
Please join us for a lively and timely discussion of recent FCPA enforcement activity on Tuesday, May 23, 2023 at 1pm ET/12pm CT.Continue Reading FCPA Enforcement: New Corporate Enforcement Policy, Aggressive Enforcement, and Lessons Learned From Recent Resolutions
Register Now | FCPA Enforcement Update: Lessons Learned for Best Practices Webinar
We look forward to presenting a webinar titled “FCPA Enforcement Update: Lessons Learned for Best Practices” for the Society of Corporate Compliance and Ethics alongside V. Channing Landreth, AVP Managing Counsel at Labcorp. We will cover:
- Overview of FCPA
- Key Compliance Challenges
- Lessons from Recent Enforcement Actions
- Compliance Best Practices
The webinar will be held
FCPA Enforcement Update: Two Big Settlements to End the Year
In the past several years there has been a significant decrease in Foreign Corrupt Practices Act (FCPA) enforcement efforts. Reports suggest that corporate criminal cases have decreased by roughly 50% since 2012. FCPA enforcement has dipped particularly dramatically – from more than 40 actions brought by the DOJ and/or SEC in 2019 to only 15 brought by the DOJ and/or SEC in 2021.Continue Reading FCPA Enforcement Update: Two Big Settlements to End the Year
Update on FCPA Enforcement: First Half of 2022 Sees Major Enforcement Action
Since late March, the U.S. government has announced several significant enforcement actions under the Foreign Corrupt Practices Act (FCPA), the main U.S. law that prohibits bribery of non-U.S. government officials.
Often working in coordination with its enforcement counterparts in other parts of the world, the U.S. Justice Department (DOJ) and Securities & Exchange Commission (SEC) have resolved three notable matters against companies, and pursued one individual enforcement matter. The alleged bribery involved in these matters occurred in multiple countries in Africa and South America.Continue Reading Update on FCPA Enforcement: First Half of 2022 Sees Major Enforcement Action
Foreign Corrupt Practices Act Enforcement Update: Q1 2022
There have been a relatively limited number of U.S. Foreign Corrupt Practices Act (FCPA) enforcement actions in recent years. Nonetheless, two recent announcements (one resolution, one declination) by U.S. regulators underscore the importance of implementing and maintaining effective internal controls.
Continue Reading Foreign Corrupt Practices Act Enforcement Update: Q1 2022
FCPA Update: Enforcement Continues
In recent months, the U.S. Department of Justice (DOJ) and Securities & Exchange Commission (SEC) have announced several notable penalties for violations of the U.S. Foreign Corrupt Practices Act (FCPA). The FCPA prohibits bribery of foreign government officials and requires issuers of securities on U.S. exchanges to keep and maintain accurate books and records and robust internal controls.
We have summarized a few of these enforcement actions below to serve as a reminder of the various ways in which companies can fall afoul of the FCPA.
Goldman Sachs Pays Largest-Ever FCPA Penalty
In October 2020, Goldman Sachs Group Inc. (Goldman Sachs) agreed to a $3.3 billion penalty to resolve allegations that the company and its Malaysian subsidiary violated the FCPA by making payments to a Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB). This represents the largest-ever FCPA penalty imposed on a company.
The DOJ and SEC alleged that senior employees of Goldman Sachs used a third-party intermediary to bribe high-ranking government officials in Abu Dhabi and Malaysia. The improper payments were allegedly made by Goldman Sachs to assist with efforts to obtain business from 1MDB.Continue Reading FCPA Update: Enforcement Continues
COVID-19 Compliance Conversations – Episode I (VIDEO)
As developments related to COVID-19 continue to unfold, Bass, Berry & Sims attorneys are monitoring the situation and providing guidance through a series of video chats entitled, “COVID-19 Compliance Conversations.”
In this episode, Thad McBride and Lindsey Fetzer provide a brief overview of compliance considerations related to international donations and charitable contributions. Watch the
COVID-19 International Compliance Considerations
- Humanitarian exports to Iran are permitted – within limits.
- Corruption can flourish in the midst of crisis.
- Export controls limit sharing technical data related to the virus with some countries.
- Compliance professionals should be proactive and visible during a time of crisis.
Despite the sobering news reports on the global spread of COVID-19, companies are