With a wild ride of FCPA cases over the past week, Jay Rosen and myself are back in the FCPA saddle again to take a look at some of the top compliance stories from the past week.
- Société Générale S.A. becomes No. 5 in the Top 10 of FCPA settlements, paying $585MM for bribes paid to garner business in Libya. Dick Cassin reports in the FCPA Blog. Henry Cutter reports in the WSJ Risk and Compliance Journal. Jaclyn Jaeger gives full coverage to the FCPA and LIBOR violations in Compliance Week. (sub req’d)
- Legg Mason pays $71MM for being SocGen’s partner and fellow bribery schemer in Libya. Dick Cassin breaks the story (as usual) in the FCPA Blog. Tom blogs on Legg Mason hereand notes the inter-relatedness of the two matters in another blog here. The Legg Mason NPA is available here.
- Credit Suisse pays $47MM to settle a princeling FCPA enforcement action for its illegal hiring of sons and daughters of Chinese government officials. Dick Cassin reports in the FCPA Blog.
- In another princeling matter, Jonathan Browning and Donal Griffin report in Bloombergthat Deutsche Bank AG is under FCPA scrutiny for similar practices involving sons and daughters of Russian government officials.
- The new Director of the UK Serious Fraud Office is a Yank. See report by Dick Cassin in the FCPA Blog. Mara Lemos Stein asks if she will recharge the SFO in the WSJ Risk and Compliance Journal. The Bribery Act guys, Barry Vitou and Richard Kovalevsky QC give their take on com.
- Channelling his inner Churchill, Mike Volkov asks what happens when corporate leaders fail to listen. Find out in Corruption, Crime and Compliance.
- Netflix is more than a disruptor in movie watching and entertainment. It’s corporate governance model is also quite unique. Bill Snyder tells us how in Insights by Stanford Business.
- The devastating and company closing sanctions against ZTE will be lifted based upon a new deal with the Department of Commerce. Dick Cassin reports in the FCPA Blog. Anna Swanson reports in the NYT. Sam Rubenfeld reports in the WSJ Risk and Compliance Journal. Alex Lawson, writing in Law360 asks if sanction relief is now for sale?
- Tom announces a new Compliance Master Class, which will be held in Houston on June 21 & 22. Information and registration is available here. Learn about compliance from the guy who wrote the book on compliance.
- Support your local book sellers! River Oaks Bookstore, 3270 Westheimer, in Houston is now stockingThe Complete Compliance Handbook. Tom will be on hand for a book signing on Thursday, June 28 from 5:30 to 7.
- Tom’s new book The Complete Compliance Handbookremains a hot seller. It is available oncom. Purchase an autographed copy here. It is reviewed in the FCPA Blog, Radical Complianceand Corruption, Crime and Compliance.
- Tom has a great five-part series on Suspension and Debarment with AMI Managing Director Rod Grandon. Check out all five topics. Part 1-Introduction; Part 2-the differences between suspension and debarment; Part 3-Convergence of suspension and debarment and the FCPA; Part 4-what is present responsibility?; and Part 5-Remedies and Compliance. It is available on the FCPA Compliance Report, iTunes, Libsyn, YouTubeand JDSupra.
FCPA enforcement comes back with a-vengence for the week ending June 8. Find out the top compliance and ethics stories of the week on This Week in FCPA.Click to tweet
For more information on how an independent monitor can help improve your company’s ethics and compliance program, visit our sponsor Affiliated Monitors at www.affiliatedmonitors.com.