FCPA Enforcement Action: Highlighting the Importance of Implementing and Monitoring Effective Compliance Programs
The Foreign Corrupt Practices Act (FCPA) of 1977 made it unlawful to make payments to foreign government officials to assist in obtaining or retaining business. The law, which includes civil and criminal provisions, has been rigorously enforced. Last September, in the first major FCPA case against a financial services company, the hedge fund Och-Ziff Capital Management Group agreed to pay $412 million to resolve charges that it made illicit payments to government officials in African countries. The FCPA could apply to any payment to any foreign government official made by or on behalf of an American enterprise. Any company doing business overseas could potentially come within its maw.
In this LIVE Webcast, a panel of thought leaders assembled by The Knowledge Group will lay out the essentials of a compliance program that will be effective in educating and monitoring company executives and staff on the practices prohibited by the statute. The speakers will provide an overview of the FCPA and review recent enforcement actions that provide a roadmap of governmental policies and priorities.
Key topics include:
- FCPA: History and Overview
- Anti-Bribery and Accounting Provisions
- Corruption Risk Assessment
- Civil and Criminal Penalties
- Recognizing Operational Pitfalls
- Internal Accounting Controls
- Establishing Best Practices
Jennifer D. Riddle, Of Counsel
Paul Hastings LLP
- Compliance programs should be designed to prevent and detect corruption.
- Risk-based approach
- While not a formal defense to misconduct, an effective compliance program is critical to DOJ’s assessment of an FCPA enforcement action. As such, how will a program be judged?
- 10 Hallmarks in FCPA Resource Guide
- Follow the money
- "Theory” vs. “reality”
- In light of recent enforcement actions (ex. Unaoil), what does the future hold for effective compliance programs?
Michael H. Huneke, Partner
Hughes Hubbard & Reed LLP
- Recent enforcement highlights
- Responding to Misconduct
- Conducting an Effective Internal Investigation
- When internal investigations are necessary
- Investigative structure and scope
- Reporting and remediation
- Monitoring compliance programs
Gabriel Groisman, Shareholder
- The Need for Practical and Effective Programs
- The importance of getting to know your clients and their personnel
- The Need for Compliance Programs, not just Policies
- Importance of annual audits, reviews and amendments to policies.
- Recognized Operational Pitfalls
- From the Client
- Failure to go through compliance.
- Withholding of Facts
- *Signing LOI’s or Term Sheets before going to compliance
- *Informal bidding without compliance approval
- From the Attorney/Compliance Professional
- Failure to give real advice
- Failure to really understand the client – develop relationships with all BD professionals.
- Failure to properly advise the client of the risks at hand.
- From the Client
- How to Deal with Heightened Risk Partnerships and Relationships.
- Recent Prosecutions and what we can learn from them.
Who Should Attend:
- In-House Counsel
- Securities and Corporate Governance Attorneys
- White Collar Crime Attorneys
- Compliance Executives
- Regulatory Managers
- Finance Managers
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 …
Jennifer D. Riddle is of counsel in the Litigation practice of Paul Hastings and is based in the firm’s Washington, D.C. office. Her practice focuses on compliance with and disputes relating to the U.S. Foreign Corrupt Practices Act (“FCPA”) and other international anti-corruption laws.
Ms. Riddle conducts internal investigations on behalf of senior management, boards of directors, and audit committees with respect to the FCPA, international anti-corruption laws, fraud, and kickbacks. She has acted as the senior associate leading investigations in Europe, Africa, Asia, and the Middle East.
Prior to joining Paul Hastings, Ms. Riddle advised clients on compliance with U.S. securities laws and regulations, conducted internal investigations relating to suspected infractions of U.S. securities laws, and coordinated all phases of discovery in complex litigation cases.
Jennifer D. Riddle is of counsel in the Litigation practice of Paul Hastings and is based in the firm’s Washington, …
Gabriel Groisman is a Shareholder with the firm and has a diverse legal practice, focusing primarily in the areas of international commercial litigation, transactions and counseling, international anti-corruption and anti-money laundering compliance, international trademark law, and complex commercial litigation. Mr. Groisman has been with the firm since 2006 and represents clients in the retail, manufacturing, distribution, fashion, real estate, technology, and oil and gas industries. Mr. Groisman serves the firm as the Chair of its intellectual property team, and the Co-Chair of its international commercial law team.
Mr. Groisman is also an elected public official, also serves as the Mayor of the Village of Bal Harbour, Florida. He is also very involved in numerous charities, serving on the Executive Committee of the Board of Directors of both the Children’s Tumor Foundation, and the Friends of the Israel Defense Forces, Greater Miami Chapter. Mr. Groisman is a regular speaker, having presented as a “legal scholar” at the United Nations Headquarters in New York on two occasions in 2016, and at several international conferences, including the International Trademark Association on trademark issues.
Gabriel Groisman is a Shareholder with the firm and has a diverse legal practice, focusing primarily in the areas of …
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NASBA Field of Study:
Business Law - Technical
NY Category of CLE Credit:
Areas of Professional Practice
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About Hughes Hubbard & Reed LLP
Hughes Hubbard & Reed LLP is an international law firm ranked for ten years, including five years in a row as the top-ranked New York-based firm, on The American Lawyer’s A-List of what the magazine calls “the top firms among the nation’s legal elite.” Our attorneys advise and represent clients in over 30 specialized practices from offices in New York, Washington, D.C., Paris, Los Angeles, Miami, Jersey City, Kansas City, and Tokyo. For more information, please visit www.hugheshubbard.com.
About Paul Hastings LLP
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. Our Investigations & White Collar Defense group helps clients secure successful outcomes in high-stakes government investigations, litigation, and corporate compliance matters, including anti-corruption and FCPA, global trade controls, privacy and data security, securities enforcement, and white collar matters. We lead the way in our respective areas of law, from developing innovative compliance programs and measures to conducting complex, sensitive internal investigations. Our team represents numerous multinational corporations that do business in a wide array of industries and countries and, consequently, are potentially subject to simultaneous U.S. and multi-jurisdictional enforcement actions.
About Coffey Burlington
The law firm of Coffey Burlington, PL (www.coffeyburlington.com), a commercial litigation and white collar criminal defense firm, has extensive experience in counseling and defending clients in matters involving the U.S. Foreign Corrupt Practices Act (FCPA) and related anti-corruption laws. Coffey Burlington represents companies and individuals in all aspects of anti-corruption matters, including internal investigations, training, counseling, due diligence, defense of government investigations, enforcement actions, and criminal proceedings. Coffey Burlington also helps companies develop and implement anti-bribery compliance programs and conduct anti-corruption due diligence on proposed transactions. We train boards, senior management, sales teams, and employees on anti-bribery issues.