Anti-Corruption Compliance: Trends and Developments in 2017
Aggressive enforcement of the Foreign Corrupt Practices Act continues in 2017, and every U.S. company that does business outside the country is subject to its reach. The FCPA’s anti-bribery provisions require only minimal proof of “corrupt intent” in giving things of value to foreign government official, and companies have been prosecuted even for very small bribes. The law also makes it illegal for a company that reports to the Securities & Exchange Commission to have false or inaccurate books or records or to fail to maintain a system of internal accounting controls. Prosecutions and civil actions under the FCPA have risen steadily in the past eight years, as have penalties imposed by the SEC and the Department of Justice. A stand-alone anti-corruption compliance policy is a must, especially for US companies doing business in countries that expose them to a high risk of corruption.
In this LIVE Webcast, a panel of thought leaders brought together by The Knowledge Group will review recent FCPA litigation and enforcement developments. They will also give guidance on how companies can foster a culture of compliance through planning, training and setting up internal controls and due-diligence procedures, thereby reducing the risk of falling into the statute’s maw.
Key topics include:
- Foreign Corrupt Practices Act
- Key Risk Factors
- Corruption Hotbeds
- Litigation Activity
- Enforcement Activity
- Compliance Requirements
- Anti-Corruption Compliance Policy
- Culture of Compliance
Michael Huneke, Partner
Hughes Hubbard & Reed LLP
Neil Schumacher, Attorney
Paul Hastings LLP
- Increasing international enforcement
- U.K. (DPA trends), France (loi Sapin 2), China (Operations Fox Hunt and Skynet; Unfair Competition Law draft amendment), Brazil (Operation Car Wash), Korea (Improper Solicitation and Graft Act of Korea), Russia, Commonwealth of Independent States and Ukraine region.
- Developments in anti-money laundering/anti-tax evasion and sanctions as drivers of discovery and investigation of corruption.
- Increasing cross-border cooperation
- U.S. DOJ and SEC acknowledgement of assisting of 24 countries.
- Cooperation among governments and MDBs/NGOs.
- Mechanisms, joint raids, and MLATS.
- Multilateral Development Bank sanctions enforcement
- Spotlight on World Bank enforcement and sanctions regime.
- Discussion of mitigating factors (cooperation, internal investigations, disciplining responsible employees, and compliance programs) and highlights of what makes for an effective compliance program (with respect to the World Bank and otherwise).
- Use of pre-resolution monitors
- Alstom and Rolls Royce case studies.
- International regulators’ reliance on new technologies
- Technology assisted review and artificial intelligence.
- Increasing threat of leaks, dumps, hacks, and other illegally obtained information in driving allegations and investigations.
- Complexity of interplay between due diligence and arbitration/litigation
- Trend of rejection of claims due to indications of corruption in investment treaty arbitration.
- Timing, evidence, risk of disclosure, and protecting the company.
Who Should Attend:
- Anti-Corruption Lawyers
- Investigatory Counsel
- Defense Attorneys
- Corporate Counsel
- Compliance Officers
- Ethics Officers
- Financial Officers
- International Counsel
- White Collar Crime Attorneys
- FCPA Securities and Corporate Governance Attorneys
- FCPA Practicing Lawyers
- Other interested professionals
Michael H. Huneke is a partner with significant experience conducting anti-corruption investigations and compliance program reviews. He advises clients in matters involving the U.S. Foreign Corrupt Practices Act (“FCPA”) and the U.K. Bribery Act, corporate governance and compliance, World Bank and other international financial institution matters. Mike performs anti-corruption investigations and due diligence efforts around the globe, including in connection with the U.S. Department of Justice, U.S. Securities & Exchange Commission, Serious Fraud Office, World Bank and other multilateral development bank inquiries. This experience includes conducting corporate compliance monitorships and compliance program evaluations. He has assisted U.S., European, and Asian clients in designing, administering, and maintaining anti-corruption, integrity compliance, and corporate governance programs.
Michael H. Huneke is a partner with significant experience conducting anti-corruption investigations and compliance program reviews. He advises clients in …
Neil Schumacher is a senior associate in the Litigation practice of Paul Hastings and is based in the firm’s Washington, D.C. office.
Mr. Schumacher focuses his practice on regulatory and anti-corruption enforcement, internal investigations, and litigation. Mr. Schumacher regularly counsels multinational clients in the pharmaceutical, energy, and technology industries in criminal and civil investigations conducted by the U.S. Department of Justice and Securities and Exchange Commission, as well as in internal investigations, in connection with alleged violations of criminal and civil anti-bribery legislation. Mr. Schumacher has represented clients in significant investigations in China and other countries in Asia, the Middle East, Latin America, and Eastern Europe. Several of these matters also involved parallel investigations by foreign anti-corruption authorities or regulators including the U.K. Serious Fraud Office.
Neil Schumacher is a senior associate in the Litigation practice of Paul Hastings and is based in the firm’s Washington, …
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Paul Hastings provides innovative legal solutions to many of the world’s top financial institutions and Fortune 500 companies in markets across Asia, Europe, Latin America, and the United States.
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Since the firm’s founding in 1951, Paul Hastings has grown steadily and strategically along with our clients and the markets we serve. We established successful practices in key U.S. and European cities, creating a broad network of professionals to support our clients’ ambitions. In addition, we were one of the first U.S. law firms to establish a presence in Asia, and today we continue to be a leader in the region. Over the past decade, we have significantly expanded our global network of lawyers to assist our clients in financial centers around the world, including the emerging markets of Latin America.
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Drawing on the firm’s dynamic, collaborative, and entrepreneurial culture, our lawyers work across practices, offices, and borders to provide innovative, seamless legal counsel—where and when our clients need us.