On April 5, 2016, the U.S. Department of Justice announced a significant increase in its efforts to enforce the Foreign Corrupt Practices Act (FCPA).
DOJ Attempts to Encourage Corporate Self-Disclosures with the Announcement of a One-Year FCPA Pilot Program
Pursuing a classic “carrot and stick” approach to incentivizing corporate self-disclosure of the Foreign Corrupt Practices Act (FCPA) violations and individual wrongdoing connected to FCPA violations, the DOJ Fraud Section announced a new FCPA pilot program aimed at providing transparency into the benefits of self-disclosing FCPA violations, and the consequences of not self-disclosing.
On April 5, 2016, the Fraud Section of the Criminal Division of the Department of Justice (“DOJ”) released an Enforcement Plan and Guidance (the “Plan”) regarding the Foreign Corrupt Practices Act (“FCPA”).
US Department of Justice Launches Pilot Program to Encourage Self-Reporting, Cooperation and Remediation of FCPA Violations
Last week the US Department of Justice (DOJ) announced the implementation of a pilot program under the US Foreign Corrupt Practices Act (FCPA).
In a move that follows long-standing complaints from the corporate community and the FCPA defense bar concerning the Government’s vague assurances of “cooperation credit” in FCPA resolutions for self-reporting companies, on April 5, 2016, DOJ officials announced a new one-year FCPA “pilot program” that outlines a concrete set of standards defining what constitutes cooperation and what credit companies can expect to earn for that cooperation.
In an effort to enhance its ability to investigate and prosecute Foreign Corrupt Practices Act (FCPA) cases, the Department of Justice’s (DOJ) Criminal Division has launched a new one-year FCPA pilot program effective April 5, 2016.
On the March 1, 2016 the U.S. Securities and Exchange (SEC) announced that Qualcomm Incorporated (Qualcomm) had agreed to pay a $7.5 million fine and report its remediation efforts to the SEC for two years in order to settle charges of violating the Foreign Corrupt Practices Act (FCPA).
Regular readers of this blog know that the filing of a shareholder lawsuit following the disclosure of a bribery investigation is a well-established phenomenon (as discussed, for example, here).
In the article “Trends en practices anticorrupción for 2016 la luz de la FCPA” published on January 14 by LexLatin, Eloy Rizzo, member of the KLA, says the trends and the most important aspects of the application of the FCPA, discussed at the conference held at the end 2015 in Washington / DC.