FCPAméricas Blog
Archive for State-Owned Enterprises category:
The Tangible and Intangible Drivers of FCPA Risk in Venezuela Today
11.28.2014
Hugo Chavez came to power in Venezuela in 1999, riding a wave of dissatisfaction with the corrupt oligarchic elite that had governed the country for years. Despite his promise, corruption in Venezuela is still rampant, and might have gotten worse. Chavez’s successor, President Nicolas Maduro, just last week approved a set of strengthened anti-corruption laws […]
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Opportunities and FCPA Risks in Mexico’s Changing Energy Sector
4.22.2014
In December 2013, Mexico enacted constitutional amendments lifting restrictions on participation in its hydrocarbons and electrical energy sectors. These reforms end longstanding government monopolies held by Pemex, the state oil company, and the Federal Electricity Commission, which will now compete against private generators to supply public energy demands. This “epoch” change opens both sectors to […]
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Fraud at Oceanografía: Implications for FCPA and AML Risks in Mexico
4.11.2014
Concerns about corruption risks in Mexico’s oil and gas sector were underscored on February 28, when the Mexican government seized control of Oceanografía, a Mexican engineering and oil platform services company. The events leading up to this seizure, which include fraud, corruption and money laundering concerns, are particularly relevant given Mexico’s recent efforts to facilitate […]
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How Latin American Countries Define “Public Official”
10.17.2013
Under the FCPA, the meaning of “public official” is important to determining whether or not a specific payment is prohibited. This is because the anti-bribery provisions of the FCPA only apply to public bribery, that is, bribes paid to public officials of non-U.S. countries. The analysis is often linked to a determination of whether an […]
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How State-Owned Enterprises Are Just Like You
6.07.2013
Usually when FCPA lawyers talk about state-owned or controlled enterprises (SOEs), like many state power utilities, public hospitals, or national oil companies, they discuss them in the context of whether or not they constitute government instrumentalities for purposes of improper payments. In fact, SOEs can present much more complicated issues than this. In some ways, […]