Jun. 12, 2019

How the EBRD Promotes Compliance Internally and For Its Clients

The European Bank for Reconstruction and Development (EBRD) was founded to help countries transition to market-based economies in the post-communist era. Part of the Bank’s mission is to ensure that the projects in which it invests help support this transition with good governance and strong compliance. The Anti-Corruption Report spoke with Lisa Rosen, managing director and chief compliance officer at the EBRD, about how her department uses its own compliance program to serve as an example for clients as it works with them to make sure they have strong anti‑corruption programs, as well. See “Preparing for the Sometimes Surprising Impact of Multilateral Development Banks” (May 10, 2017).

SFO’s de Silva Talks International Cooperation Logistics

With multiple robust anti-corruption enforcement regimes regulating cross-border conduct, cooperation among sovereign regulators is increasingly critical. While such cooperation can mean that companies are more likely to face corruption charges, it also benefits those that do land before regulators. Law enforcement liaison increases transparency and certainty for companies as well as the likelihood of speedy resolutions, Camilla de Silva, the Joint Head of Bribery and Corruption at the U.K.’s Serious Fraud Office, explained during ACI’s recent FCPA conference in New York. Using the U.K.’s relationship with the DOJ as an example, de Silva discussed how this cooperation is working in practice. See “What Does a ‘Bigger and Stronger’ SFO Mean for Companies?” (Nov. 28, 2018).

Why International Companies Are Integrating the ECCP Into Their Compliance Programs

Companies around the world have responded promptly to the DOJ’s recent announcement that it updated its Evaluation of Corporate Compliance Programs guidance. Even those companies that are not subject to U.S. jurisdiction are paying attention and many have begun to revamp their existing programs. The Anti-Corruption Report spoke with practitioners in a variety of non-U.S. jurisdictions who reported that their clients are interested in, and already implementing, the DOJ’s latest suggestions. See “Analyzing the DOJ’s New Evaluation of Corporate Compliance Programs” (May 15, 2019).

Conducting Internal Investigations in the Shadow of U.S. v. Connolly

In her recent decision in United States v. Connolly, Chief Judge McMahon of the U.S. District Court for the Southern District of New York sharply criticized the Department of Justice for “outsourc[ing] its investigation” of LIBOR manipulation to Deutsche Bank and its outside counsel. The decision provides a rare glimpse into how companies balance their fiduciary obligation to conduct their own internal investigations with their sensible desire to cooperate fully with government authorities and their investigations, Cravath partner Benjamin Gruenstein and associate Charles Loeser argue in a guest article. See “Updates to the Corporate Enforcement Policy Attempt to Address Company Concerns” (Apr. 3, 2019).

Managing Corruption Risks Facing Healthcare Companies in Eastern Europe

The Eastern European market presents tremendous opportunities for healthcare and life sciences companies. But despite reform efforts, corruption continues to permeate the healthcare sectors of Eastern European countries, and a failure to address and mitigate sector-specific corruption risks can lead to enforcement action under local law or anti-corruption laws having extraterritorial effect. In this guest article, Ropes & Gray partner Amanda Raad and associates Stephanie Busalacchi and Andris Ivanovs discuss the key sector-specific risks facing healthcare companies operating or seeking to operate in the region and outline mitigation steps companies should consider. See “Canadian Health Science Company and Employee Settle Civil FCPA Charges in Failed Quest for Drug Distribution in Russia” (Mar. 9, 2016).

The French Duty of Care Law: A First Assessment

In 2017, France introduced its Duty of Care Law to combat modern slavery. Its objectives are similar to laws passed in other countries – it is meant to encourage companies to put in place compliance programs to prevent human rights abuses in their supply chains. However, the breadth of the law and the fact that it is enforced through civil litigation rather than by a government enforcement authority have struck some French companies as quite extreme. In a guest article, Maria Lancri, counsel at GGV in Paris, explains how the Duty of Care Law works, and the elements of a compliance program a company will need to have in place to avoid civil suits from the multiple NGOs that are interested in enforcing the law. See “The Global Modern Slavery Landscape: Standard Practice for Maintaining Compliance” (May 29, 2019).

White Collar Partner Joins Reed Smith’s Global Regulatory Enforcement Group in Shanghai

Dora Wang has extensive experience in compliance requirements relating to international anti-corruption and anti-bribery laws, including the FCPA and U.K. Bribery Act, and has represented clients in investigations in the U.S., China and Europe. For more from Reed Smith, see “The Post-Keppel Compliance Landscape in Singapore” (Apr. 18, 2018).

Cory Flashner Joins Mintz Levin as Member in Boston

The former AUSA’s practice focuses on advising clients in investigations and enforcement actions related to securities and anti-money laundering laws and regulations.

Former SDNY AUSA Joins Eversheds Sutherland

Sarah Paul’s practice will focus on white-collar defense, including government, internal and cross-border investigations, as well as cybersecurity and privacy law.