Monday, February 22, 2021
The year 2020 witnessed a record level of $2.78 billion in corporate fines and penalties from enforcement of the Foreign Corrupt Practices Act (FCPA) by the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC). It also witnessed continued close cooperation by the DOJ and SEC with enforcement authorities in other countries, resulting in billions of additional dollars in fines and penalties by foreign enforcement authorities. These trends, which will likely continue and even expand in 2021, highlight the urgent need for companies to identify the key risk areas of FCPA exposure they face in their international operations, and to maintain compliance programs that work in practice, not just on paper. This is especially important for companies operating in or doing business with certain high-risk countries, such as China, India and Brazil, which may draw special attention from the DOJ and SEC because of recurring corrup
Howard O. Weissman is a corporate attorney at Miller Canfield in their Washington DC firm. Howard advises on laws impacting business operations, such as the Foreign Corrupt Practices Act and other anti-corruption laws, anti-boycott laws, and offset transactions.
In December, New Jersey overhauled its use-of-force policies for more than 500 police departments and over 38,000 officers. On Friday, Feb. 26 at 11:00am ET, New Jersey Attorney General Gurbir Grewal joins criminal justice reporter Tom Jackman on Washington Post Live to discuss the new policies amidst the nationwide push for police reform, and whether there are lessons for other states around the country.
Advocates push for US to embrace role as global anti-corruption champion
Seeking to seize the momentum of Joe Biden’s first days in office, a global anti-corruption activist group are pushing to have the U.S. expand anti-money-laundering reforms. February 17, 2021
Rules that force bankers to do due diligence on their clients should be expanded to cover hedge funds, private equity, lawyers and accountants, according to an advocacy group that wants the United States to re-establish itself as a global leader in the fight against dirty money and corruption.
Global anti-corruption organization Transparency International released a new report Wednesday entitled “Combating Global Corruption: A Bipartisan Plan” a 21-point agenda for the new U.S. administration to crack down on money laundering and financial secrecy. Recommendations also include increased protections for whistleblowers, clamping down on abuse of “golden visa” programs, and better monitoring and more