The Fraud Board

The Fraud Board

Commentary on current cases, news stories and legal developments in international business crime and regulation

McGuireWoods’ London Government, Regulatory and Criminal Investigations Group

Category Archives: FCPA

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Compliance programmes, Corporate sentencing, Corruption, Deferred prosecution, FCPA, Fraud, Plea bargaining, Self-reporting, Serious Fraud Office, Uncategorized

Cooperation, Leniency, Internal Investigations, Self-Incrimination, Privilege and All That Jazz

I recently attended a Fraud Conference in Miami where I heard a French lawyer insisting that since he was a defence advocate, his job was to defend his clients against fraud allegations, not to prosecute them.  Instead of cosying up to the authorities, and self-reporting, he regarded it as his duty to challenge the prosecutor and… Continue Reading

SEC Comments Bring Commercial Bribery Clearly into FCPA Scope

While the potential reach of the UKBA has begun to broaden perceptions of what is necessary to ensure an anticorruption compliance program is appropriately inclusive and robust, recent comments by one senior U.S. Securities and Exchange Commission (SEC) official should remind us that the FCPA's accounting provisions may serve as a vehicle for penalizing companies for acts of commercial bribery if they result in maintenance of inaccurate books and records or otherwise undermine a company's system of internal controls.… Continue Reading

DPAs, NPAs and the Hybrid Corporate Monitor

In two recent FCPA-related settlements in the medical devices industry in February and March 2013, and in the manufacturing industry in October 2013, DOJ adopted a "hybrid" approach to monitoring. The DPAs entered in each settlement imposed a compliance monitorship whereby the company must retain an independent monitor for an 18-month period and then self-monitor and report its compliance with the agreement for the remaining 18 months of the DPA.… Continue Reading
Compliance programmes, Corruption, Deferred prosecution, Due diligence, Enforcement, FCPA, Gifts & hospitality, Guidance, Public officials, Settlement

Weatherford’s “loose controls and anaemic compliance” leads to $253 million bribery and sanctions penalties

This is a salutary tale for any companies, wherever they are situated in the world, which still think that their illegal activities will never be discovered. Usually it is only a question of time, and the penalties can be huge, as well as the impact on the business in sorting it all out.… Continue Reading
Compliance programmes, Corruption, Deferred prosecution, Enforcement, FCPA, Settlement

Deferred prosecution agreements to be introduced as a bill in the next parliament

In our view, the Solicitor General's confirmation that DPAs would be introduced into UK law is a very positive step forward in the enforcement of complex international crime. Although the road to its introduction may be bumpy, it is clear that he is very determined that it should happen and he is working with the judiciary to ensure that it is a success.… Continue Reading

FCPA Enforcement Measures

In a recent article for the ABA Journal 'Litigation', Susan Hansen argues that prosecutors are wielding the Foreign Corrupt Practices Act more actively, but not always successfully, while business interests are calling for changes in the law.… Continue Reading
Corruption, Enforcement, FCPA, Whistleblower

US Securities and Exchange Commission Annual Report on the Dodd-Frank Whistleblower Program 2011

We, at the BriberyLibary, follow this new program with great interest as we are of the view that financial incentives and compensation designed to encourage people with knowledge and evidence to come forward to blow the whistle on corporate corruption (and other legal wrongs) should be seriously considered in the UK without delay… Continue Reading