Guinea Exploration Venture Stalls After FCPA Investigation

SCS Coproration, Ltd. (SCS), a unit of Houston oil and gas drilling company Hyperdynamics Corporation (“Hyperdynamics”), has filed parallel actions in the Southern District of Texas (4:16-cv-00076) and before the American Arbitration Association against two partners who SCS alleges used an FCPA investigation into Hyperdynamics as a pretext for breaching their joint exploration agreement.

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SEC Enforcement:  Self-Reporting is Prerequisite to Deferred and Non Prosecution Agreements in FCPA  

By | White Collar Briefly | November 18, 2015
SEC Enforcement:  Self-Reporting is Prerequisite to Deferred and Non Prosecution Agreements in FCPA   

In his keynote address at the ACI 32nd International Conference on the Foreign Corrupt Practices Act in Washington, DC on November 17, 2015, SEC Enforcement Director Andrew Ceresney announced to the in-house compliance officials and corporate defense attorneys in attendance that, going forward, any public company that fails to self-report a potential FCPA violation to the SEC will be ineligible for a deferred prosecution agreement (“DPA”) or a non-prosecution (“NPA”). 

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