There is a lot of talk in Latin America these days about the FCPA. People throughout the region see investigation after investigation and settlement after settlement including companies and individuals from the region. They are asking more questions about the law, such as — How can Latin Americans be subject to a U.S. law? Here are five ways that U.S. authorities can assert jurisdiction over non-U.S. companies and individuals under the FCPA’s anti-bribery provisions:Issuers (15 U.S.C. Sec. 78dd-1). The FCPA applies to Latin American companies that have a class of securities listed on a national securities exchange in the United States. They are known as “issuers”. They are prohibited from making corrupt payments to non-U.S. officials, no matter where the payments occur in the world. This provision also reaches the officers, directors, employees, and agents of issuers, even if they are Latin America...Read more
Over the past three years, FCPAméricas has posted summaries of the views that lead FCPA enforcement officials provide at ACI’s International Conference on the FCPA (see posts from 2011, 2012, and 2013). This year, at the 2014 conference, Kara Brockmeyer (Chief of the FCPA Unit of the SEC’s Enforcement Division) and Patrick Stokes (Deputy Chief of the FCPA Unit of the Fraud Section of the DOJ’s Criminal Division) offered helpful insights (these were their views and not the official views of their respective agencies):
SMEs Don’t Need “Rolls-Royce” Programs. Ms. Brockmeyer said she recognizes that some companies, given their smaller sizes, are not able to afford highly soph...Read more
The SEC 2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program was published on November 17, 2014. This post highlights five relevant developments this year related to SEC whistleblowers.
Increase in number of tips received by the SEC. The number of whistleblower tips the Commission receives annually continues to increase: 3,001 tips in the 2012 fiscal year, 3,238 tips in the 2013 fiscal year, and 3,620 tips in the 2014 fiscal year. The number of tips related to FCPA issues also continues to increase. In total, 159 tips received in the 2014 fiscal year were related to alleged FCPA violations. In fiscal year 2012 and 2013, 115 and 149 were related to FCPA issues, respectively. Since August 2011, when the SEC’s Office of The Whistleblower was established, until the end of fiscal year 2014, a total of 10,193 tips from whistleblowers were received.
Increasing awards and forei...Read more