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Is FEPA As Impactful As It Was Promised to Be?
For those who advise clients on matters relating to cross-border compliance, the Foreign Corrupt Practices Act, 15 U.S.C. §§78dd-1, et seq. (FCPA), has been the primary federal anti-bribery law since 1977. That was until Dec. 22, 2023, when President Biden signed into law the Foreign Extortion Prevention Act, 18 U.S.C. §201 (FEPA), as part of the National Defense Authorization Act for Fiscal Year 2024. In doing so, the federal government filled a longstanding gap that was unaddressed by FCPA: the "demand side" of foreign bribery and corruption.
FCPA focuses only on the "supply side" of bribery and corruption: it applies to "issuers" (public corporations; 15 U.S.C. §78c(a)(8)) and "domestic concerns" (U.S. citizens, nationals, residents and business entities; 15 U.S.C. §78dd-2(h)(1)) who engage in bribery or corruption of a "foreign official" (15 U.S.C. § 78dd-2(h)(2)).
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.