Posts Tagged ‘FCPA’

DOJ Expands FCPA Pilot Program

fcpa

The Justice Department is going to expand the benefits of the FCPA Pilot Program and make those benefits permanent policy, in a sweeping gesture to entice more corporations to confess possible FCPA violations and then cooperate in investigating them. Most important detail: from now on, if your company discloses an FCPA violation and meets the…

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DOJ Penalty Policy Under Review

The Justice Department is reconsidering how it imposes monetary penalties for corporate misconduct, so that parallel investigations happening with other regulators don’t pile on the pain unnecessarily, the deputy attorney general said Wednesday. Deputy AG Rod Rosenstein made those remarks during a wide-ranging speech in New York. He also said he hopes to avoid putting…

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Rosenstein Talks Yates Memo, Says Diddly

fcpa

Don’t look now, but the compliance Internet is all a-Twitter today because Deputy Attorney General Rod Rosenstein said in a public forum that maybe, sometime soon, the Justice Department might change its views of corporate cooperation under the Yates Memo— or then again, maybe not. Who knows, really. To remind everyone, the Yates Memo is…

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When Non-GAAP Reporting Meets FCPA

Maxwell Technologies reported its second-quarter earnings yesterday with this nugget: the company reported non-GAAP net income 46 percent higher than its GAAP-approved net income—and listed FCPA investigation costs as one of the adjustments it made to get that higher number. The adjustment, all of $62,000, didn’t help much. Maxwell reported a net loss of $10.1…

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Podcast: Implementing ISO 37001

ISO 37001

Compliance officers have heard a lot in the last year about ISO 37001, the new standard for managing anti-bribery programs published by ISO in 2016. Microsoft and Walmart both say they plan to implement it, as a formalized structure to manage their FCPA risks. Then again, Italian oil company ENI announced in January that it…

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Another Vague FCPA Enforcement Action

fcpa

The good news for compliance officers, as you may have already heard, is that we have another FCPA enforcement action under the Trump Administration— and yet again it’s a decision not to prosecute, because the company in question met all the criteria of the FCPA Pilot Program. The company is CDM Smith, a privately held…

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FCPA Enforcement in Trump Era: Example 1

fcpa

Two weeks ago we had our first FCPA enforcement action under the Trump Administration: a decision not to prosecute Linde Corp., a German chemical company that confessed sketchy transactions a subsidiary made with officials from the Republic of Georgia nearly 10 years ago. As the first FCPA action we’ve seen in the Age of Trump,…

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McFadden Eyeing DOJ Exit, Too

Trevor McFadden

The Justice Department’s top official to oversee FCPA enforcement was nominated this week to serve as a federal district judge in Virginia, yet another departure from the executive branch leaving corporate compliance officers wondering who is in charge over there. The Trump Administration nominated Trevor McFadden earlier this week to the federal district of Virginia. McFadden…

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DOJ Compliance Counsel Is Out

Hui Chen

No surprise here: the Justice Department is parting ways with its in-house compliance counsel, Hui Chen, who had raised eyebrows lately with thinly veiled attacks against Donald Trump on social media. The department began advertising Wednesday for a new compliance counsel, and confirmed to the National Law Journal that, yes, Chen is departing after 20…

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DOJ’s Hui Chen Hits Twitter

Hui Chen

The Justice Department’s in-house compliance counsel, Hui Chen, has been going a little nuts on social media these days. Compliance officers may want to take note. First, Chen began commenting publicly on Twitter several weeks ago, @HuiChenEthics. That unto itself is unusual; most staff-level government officials prefer to stay anonymous or stay off Twitter entirely. Not…

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