The Outsized Influence of the FCPA?

The current power and influence of the Foreign Corrupt Practices Act (“FCPA”) is really quite remarkable when one considers the statute was largely ignored for its first twenty-five years of existence. This statute, meant to reign in corruption by United States companies doing business abroad; has generated billions of dollars in revenue for the United States government; prompted the development of law firm practice groups and law school courses; become the subject of numerous scholarly articles; and has, arguably, made anti-bribery efforts the highest of priorities for multinational corporations engaged in robust compliance efforts.

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The Deterrent Effect of Anti-Bribery Law Enforcement on the Quality of Earnings

This paper investigates the quality of accounting information of bribe-paying firms and their competitors. We analyze a hand-collected sample of 241 enforced bribery cases under the US Foreign Corruption Practices Act (FCPA) during 1978-2015.

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McDonnell's Misapprehension of the Role of Access in Politics and Public Corruption

In its decision overturning former Virginia Governor Bob McDonnell’s bribery conviction in McDonnell v. United States, the United States Supreme Court narrowly construed the definition of official act, which is an element under most criminal public corruption statutes. The Court did so because it feared limiting gift-giving constituents’ access to public officials would limit all constituents’ access, thus inhibiting the political process. However, in doing so, the Court did not give adequate consideration to the countervailing policy arguments surrounding access in politics and misconstrued how federal corruption laws function.

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Foreign Corrupt Practices Act Continuity in a Transition Year

Like prior years, 2017 was notable for enforcement actions against business organizations across a wide industry spectrum, involving conduct around the globe, and ranging from egregious instances of corporate bribery executed at the highest levels of the company and involving hundreds of millions of dollars to garden variety allegations of sports tickets, internships for family members of alleged foreign officials, and charitable donations.

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Leestip: Compliance in het financieel toezichtrecht

Compliance in het financieel toezichtrecht schetst een helder beeld van de opvattingen over compliance van alle betrokkenen in het financieel toezichtrecht. Denk hierbij aan zowel rechters, advocaten, compliance professionals als toezichthouders.

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An Analysis of the SEC's Whistleblower Award Program Mandated by the Dodd-Frank Act

The Dodd-Frank Act was signed into law on July 21, 2010 (DFA 2010). The Act extended the role and protection of whistleblowers by providing awards to whistleblowers who gave relevant information to the U.S. Securities and Exchange Commission and the U.S. Commodities Futures Trading Commission (DFA 2010). As of December 31, 2017, the SEC’s whistleblower program has awarded more than $179 million to 50 whistleblowers since issuing its first award in 2012.

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The Bundling of Foreign Bribery Cases

This article is the first that discusses how national enforcement authorities have been using bundling, meaning tying or rolling up a number of things together, to settle with corporations over multiple briberyallegations. These settlements rely on some allegedly illegal acts that defendants would likely reject to settle if they were to decide on them separately.

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Organising the Monies of Corporate Financial Crimes via Organisational Structures

This article analyses how the monies generated for, and from, corporate financial crimes are controlled, concealed, and converted through the use of organisational structures in the form of otherwise legitimate corporate entities and arrangements that serve as vehicles for the management of illicit finances. Unlike the illicit markets and associated ‘organised crime groups’ and ‘criminal enterprises’ that are the normal focus of money laundering studies, corporate financial crimes involve ostensibly legitimate businesses operating within licit, transnational markets.

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The Organisation as the Cure for Its Own Ailments: Corporate Investigators in The Netherlands

The paper arrives at the conclusion that the limited insight into the measures taken by organisations in response to internal norm violation can be considered problematic from a democratic, rule-of-law point of view. The freedom of action enjoyed by organisations within the private legal sphere makes oversight and control quite challenging. 

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De vertrouwenspersoon 2.0

Om kernwaarden te laten landen in de organisatie, in die zin dat het gedrag binnen de organisatie in lijn is met de gestelde kernwaarden, is het van belang dat medewerkers en leidinggevenden elkaar constant scherp houden met betrekking tot dat gewenste gedrag. Maar dat gaat niet vanzelf. Hiërarchische verhoudingen, de waan van de dag, deadlines die gehaald moeten worden; ze kunnen allemaal roet in het eten gooien.

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