BUSINESS GUIDE TO ANTI-CORRUPTION LAWS 2018: MID-YEAR UPDATE

On 19th July, Jenner & Block LLP published a highly useful mid-year update reports on FCPA and UK Bribery Act enforcement actions and developments between January and June 2018.  It includes a table shows the 6 corporate resolutions in the US that resulted in a monetary penalty through the first half of 2018.  It provides an update on new FCPA corporate enforcement policy and the announced DoJ policy to avoid “piling on” of duplicative corporate penalties.  It also mentioned the CLOUD Act governing cross-border law enforcement access to data in the US.  It says that the CLOUD Act makes clear that US authorities can seek warrants for data held abroad by email providers.   This provides an important tool for law enforcement and, until future agreements are reached providing for international transfer of data, sets up a potential conflict between US law and foreign data protection law, particularly the new European GDPR regulation.  The update examines recent FCPA enforcement actions in the US and FCPA civil actions – noting that the settlement in the Kinross Gold case is another in a series of SEC settlements imposing successor liability for misconduct that began prior to an acquisition – in such cases, it says, the SEC has emphasised the importance of pre- and post-close anti-corruption due diligence.  It goes on to cover UK anti-corruption developments and enforcement activity.  It concludes with a round-up of other, international developments, including the spread of deferred prosecution agreements.

https://jenner.com/system/assets/publications/18202/original/Anti-corruption_Business_Guide_2018_Mid-Year_Update-WEB%20II.pdf?1532025371

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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