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The Tangible and Intangible Drivers of FCPA Risk in Venezuela Today

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 […]

Author: Matteson Ellis

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Local Perspectives: Anti-Corruption Efforts in Venezuela, Argentina and Chile

Previously I summarized comments from local counsel in five Latin American countries regarding the impact of the FCPA and the UK Bribery Act in their countries (here and here). Today’s post provides local takes on the impact of domestic anti-corruption efforts in three countries in the region: Venezuela, Argentina, and Chile. Venezuela According to Gerardo […]

Author: Matthew Fowler

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Impact of the FCPA and UK Bribery Act in Latin America: Perspectives from Venezuela and Chile

The impact of the Foreign Corrupt Practices Act and the UK Bribery Act on business in those countries can be measured in different ways: the total fines imposed, the number of compliance officers hired, and the existence of this blog and others like it. But what do these two laws – which criminalize bribes paid […]

Author: Matthew Fowler

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Chronicle of a Bribe Foretold: ADM in Venezuela

A gripping cautionary tale is hidden in the Statement of Facts attached to the Archer Daniels Midland (ADM) non-prosecution agreement (NPA). The NPA, which ADM signed with the DOJ last December, related in part to FCPA violations in Venezuela, as well as Ukraine. The total FCPA settlement amount was $54.3 million. In summarizing the underlying […]

Author: Matthew Fowler

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Latin America’s Top FCPA Stories of 2013

In the world of FCPA enforcement, 2013 was a big year. Some have pointed out, “After getting off to a slow start, with no official corporate FCPA settlements announced in the first quarter, 2013 witnessed two of the top ten biggest settlements of all time.” Others cite “a nearly fourfold increase in the size of […]

Author: Matteson Ellis

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