The emergence of transnational anticorruption laws and enforcement has generated debates about the fairness, effectiveness, and legitimacy of enforcement of legal norms by foreign or international institutions. In a paper developed over the last years and published in December 2014 entitled Transnational Anticorruption Law in Action: Cases from Argentina and Brazil, professors Kevin Davis, Guillermo Jorge, and Maíra Rocha Machado discuss this relevant and current topic.
The paper discusses some of the potential pros and cons of transnational anticorruption enforcement, highlighted below:
Potential Cons:Right...Read more
Last month, the OECD published its first Foreign Bribery Report, measuring transnational corruption based on data from the 427 foreign bribery cases that have been investigated, prosecuted, and concluded since the entry into force of the OECD Anti-Bribery Convention in 1999. In a panel discussion on December 10th, 2014, hosted by the OECD, International Bar Association, and The World Bank, James Tillen, the Vice Chair of Miller & Chevalier’s International Department, discussed how Chief Compliance Officers (CCOs) can put this report to use.
Certain sectors are more prone to risk. CCOs can use data from the report when conducting their own corruption risk assessments. Two-thirds of the foreign bribery cases occurred in four sectors: extractive (19%), construction (15%), tr...Read more
The FCPA enforcement picture in 2015 will be dynamic. Recent blockbuster actions like the DOJ’s record-breaking $772 million settlement with Alstom and aggressive statements of late by FCPA enforcement officials foreshadow a 2015 in which the U.S. Government’s approach to transnational bribery will be anything but relaxed. In particular, companies and businesspeople should watch for the following trends:
More Actions. Enforcement officials make clear that companies should expect continued prioritization of FCPA cases. Senior Deputy Chief of the DOJ Criminal Division’s Fraud Section James Koukios said in October 2014, “It’s fair to assume that the penalty amounts are not going to be going down,” and that there are a “bunch” of FCPA cases in the pipeline. He said that the DOJ has “more prosecutors and more resources than we’ve ever had before” dedicat...Read more