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International Regulatory Enforcement

2021 will be the year of a new enforcement framework for the protection of the EU financial interests
With the formal entry into force of the new European Public Prosecutor’s Office (EPPO) on January 1, 2021, the EU—as well as countries having joined EPPO[1]—are adjusting to the new reality.
Recent Trends and Challenges on Anti-Corruption Compliance and Responsible Business Conduct in Southeast Asia
n November 13, the OECD, in partnership with the United Nations Development Program (UNDP), released a new report entitled “Responsible Business Conduct and Anti-Corruption Compliance in Southeast Asia” (the “Report”).[1] Based on responses from 229 company representatives across 10 ASEAN countries, the Report discusses the business risks companies face and the way they manage their responsible business conduct (“RBC”) and anti-corruption compliance. The survey targeted firms of varying sizes, ownership structures, industry sectors and
A Cooperation Agreement Concluded Between the French Financial Market Agency (AMF) and the French Anti-corruption Agency (AFA)
While interagency cooperation agreements are very common in countries like the UK and the United States, they are less so in continental Europe. The Protocol of Cooperation between the French Financial Markets Authority (AMF) and the French Anti-Corruption Agency (AFA), concluded on September 16, 2020, is therefore worth noting.
It's Only the Beginning: COVID-19, Public Procurement, and Corruption
As public money is increasingly used to mitigate the damage of COVID-19 on the world economy, the guidance document issued by the United Nations Office on Drugs and Corruption (UNDOC) on August 31, 2020, should raise the interest not only of public authorities but also of all companies bidding for public procurements
Where the New Normal Could Be the Old Normal: Addressing Corruption Concerns Relating to Brazil’s Political Turmoil
Brazil has taken a number of steps in its journey to improve its anti-corruption laws and business culture, on the heels of Operation Car Wash. But that journey has not been smooth, nor is it complete. In this alert, we summarize some recent developments that have not been reported extensively outside Brazil or in English, but may nonetheless pose corruption risks or impact compliance programs of companies based or operating in Brazil.
FCPA Opinion Procedure Release 20-01 – Much Ado About Nothing?
The U.S. Department of Justice (“DOJ”) posted its first Opinion Procedure Release (“OPR”)[1] since 2014 on Friday, August 14, 2020. While this release will be of interest to the anti-corruption compliance user community and practitioners, it further demonstrates the limited utility of most OPRs to the general public, and the inherent limitations of the process for companies and individuals making formal opinion requests to the Department.
Watch Out the Blind Spot: Export Credit and the Fight Against Corruption
The UK NGO “Spotlight on Corruption” just issued a report entitled “WEAK LINK OR FIRST LINE OF DEFENCE? THE ROLE OF UK EXPORT FINANCE IN FIGHTING CORRUPTION IN A POST-CORONAVIRUS AND POST-BREXIT TRADE DRIVE”
Sacré Bleu! France Sends a Message in the Fight Against Foreign Bribery
On June 2, 2020, French Minister of Justice Nicole Belloubet issued a « circulaire » (hereafter, the “Circular”) on “criminal policy related to international bribery,” which provides guidance to French prosecutors on the priority of enforcing France’s anti-corruption laws. The Circular reflects another significant French development in the corruption enforcement landscape and sends two important messages to French and foreign companies.
Key Takeaways from the Novartis $345 Million FCPA Settlement
On Thursday, June 25, 2020, the United States Department of Justice (“DOJ”) announced a pair of deferred prosecution agreements with one current and one former subsidiary of Swiss pharmaceutical giant Novartis AG to resolve criminal Foreign Corrupt Practices Act (“FCPA”) allegations to the tune of a combined $233 million. In a parallel resolution, Novartis AG agreed to pay the Securities and Exchange Commission (“SEC”) $112 million to settle charges that it violated the FCPA in connection with misconduct by its subsidiaries. Novartis’s combined $345 million resolution represents the largest FCPA resolution of this calendar year since the monumental Airbus resolution in January, as well as the third largest FCPA resolution of all time in the life sciences industry. Additionally, this resolution is the second time within the last four years that Novartis AG has fallen under regulatory scrutiny for alleged FCPA misconduct; it reached a $25 million resolution with the SEC in March 2016 related to two of its Chinese subsidiaries. With Thursday’s resolution, Novartis is the first FCPA recidivist manufacturer in the pharmaceutical sector.
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