FCPAméricas Blog

Six FCPA Red Flags Missed by Key Energy in Mexico

Author: Matteson Ellis

keyWhen U.S. enforcement officials review fact patterns related to FCPA violations, they do so with the benefit of 20/20 hindsight. At the time that the violation occurs, however, in the context of a fast-paced business environment, certain red flags might not stand out. Transactions in the moment might not seem as questionable as they do after the fact. Compliance missteps might appear minor and excusable at the time, only to become more meaningful when the larger picture is considered.

The SEC’s August FCPA enforcement actions against Key Energy Services could be a case in point. That action resulted in the payment of $5 million in disgorgement by the company. In that case, the SEC explained that the company’s Mexican subsidiary “made improper payme... Read more

Political Donations in Brazil Declared Unconstitutional: compliance considerations for upcoming elections

Author: Guest Author

ballotboxThis guest post is by Trevor Schumacher, a Sao Paulo-based partner of the Financial Advisory area of Deloitte, and Viviane Viera Coutinho Rocha, a Senior Consultant of Deloitte’s Financial Advisory area.

Until recently, legal entities operating in Brazil were permitted to make political donations provided they complied with the requirements of Law 9.504 (9.504/97, arts. 23, § 1º, I e II, § 7º e 81, § 1º) and the rules set forth in Resolution 23.376, Instruction 1542-64.2011.6.00.0000.The law and related resolution permitted legal entities to donate up to 2% of gross income earned in the prior calendar year. Companies and poli... Read more

PDVSA at the Center of International Anti-Corruption Efforts

Author: Matteson Ellis

ve$pdvsaThis post was co-authored by Maryna Kavaleuskaya, a Law Clerk at Miller & Chevalier.

How do multiple enforcement authorities from different countries hold one of the largest petroleum producers in the world accountable for years of institutionalized corruption? Press reports on investigations of Venezuela’s state-owned oil company, Petroleos de Venezuela S.A. (“PDVSA”), suggest several answers. Authorities go after the company’s former leaders who reside outside of Venezuela. They... Read more


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