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    May 24, 2023

E.U.'s Proposed Directive and CFSP Expansion to Strengthen Anti-Corruption and Sanctions Regimes

On May 3, 2023, the European Commission proposed a new directive to harmonize corruption offenses, sanctions, related prevention, and enforcement. If adopted by the European Parliament and Council, the proposed directive would significantly unify and tighten anti-corruption rules across the European Union and refine criminality around commercial bribery. The Commission also included support for an expansion of the Common Foreign and Security Policy sanctions regime to target serious acts of corruption worldwide. Several lawyers spoke to the Anti-Corruption Report about the practical implications of the proposed directive and what it may mean for companies operating in Member States. See “Structure and Operations of the New European Public Prosecutor’s Office”  (Feb. 2, 2022).

Lessons from Glencore’s $29.6 Million Restitution Order

The risk of an FCPA case saddling a violating company with large restitution payments is one of the lessons that can be drawn from the news that a federal district court in late February ordered Glencore International to pay millions of dollars in restitution. The multinational commodity trading and mining company pleaded guilty in 2022 to conspiring to violate the FCPA. The court ordered that Glencore pay $29.6 million in restitution. The case highlights how important it is for companies to anticipate that risk when involved in FCPA investigations. See “Glencore Pleads Guilty and Agrees to Pay $1.1 Billion to Multiple Authorities, But Can It Change?” (Jun. 22, 2022).

Tone at the Top: Considered Crucial Factor for Successful Corporate Compliance

The "tone at the top" of a company is a crucial factor for successful compliance at a time when antitrust, corporate culture, cybersecurity and ESG considerations are among the imminent challenges, according to several participants at Compliance Week’s 18th annual national conference in Washington, D.C., last week. Moderators and panelists included members of the DOJ and U.S. Department of Commerce (DOC), cognitive neuroscientists, authors, a whistleblower, in-house compliance executives and other subject matter experts, as well as governance, risk, and compliance (GRC) technology providers and sponsors. “Every compliance failure starts with a leadership failure,” proclaimed Asha Palmer, SVP of Compliance Solutions at Skillsoft. See "How Lawyers Can Leverage the Shifting Environment to Enhance Compliance Programs" (Aug. 17, 2022).

Supreme Court: District Courts Have Jurisdiction to Hear Constitutional Challenges to ALJ Regimes

The administrative law regimes under federal securities and other laws have been under increasing scrutiny and subject to repeated challenges by respondents in administrative proceedings. Traditionally, a respondent in an administrative proceeding must exhaust administrative remedies before securing a hearing in federal court. On April 14, 2023, the U.S. Supreme Court ruled unanimously that U.S. district courts have jurisdiction in some circumstances to hear constitutional challenges to administrative proceedings prior to their conclusion, thus resolving a split between the Fifth and Ninth Circuits. See “Fifth Circuit Decision Could Hamstring SEC Enforcement Abilities” (Jun. 22, 2022).

Noticing Red Flags, Cultivating Company Culture Key to Compliance

Developing strong company cultures and having an eye out for red flags, in a changing regulatory environment, were singled out as important elements during Compliance Week’s 18th annual national conference in Washington, D.C. Compliance and risk professionals took a glimpse into what’s ahead in the regulatory arena. Moderators and panelists indicated that compliance and risk professionals have their work cut out for them. See “How Lawyers Can Leverage the Shifting Environment to Enhance Compliance Programs” (Aug. 17, 2022).

Samuel P. Nitze Joins Quinn Emanuel

Quinn Emanuel Urquhart & Sullivan LLP announced that Samuel P. Nitze joined the firm as a partner, adding to its capabilities in white collar criminal defense. Nitze will be based in New York City, where until recently he served in the U.S. Attorney’s Office for the Eastern District of New York.

Most-Read Articles

Ion Analytics' Spotlight on Trailblazing Women

In honor of International Women’s Day, some of ION Analytics' editorial teams led by women interviewed notable women in the markets and industries we cover. In this part, Jill Abitbol and Rebecca Hughes Parker shone a spotlight on notable women in compliance and hedge fund, data privacy and cybersecurity, and anti-corruption law, including Amii Barnard-Bahn, Abigail Bell, Genna Garver, Jane Horvath, Barbara Li, Amy Mushahwar, Mara Senn and Carol Widger. The interviews are here.

Data, Culture, ESG and Scope Creep with GM's Michael Ortwein

Editor-in-Chief Rebecca Hughes Parker recently spoke with chief compliance officer and assistant general counsel at General Motors, Michael Ortwein, who shared his insights on top-of-mind issues in advance of his participation in this fall’s ACI FCPA Conference. 

The full video is here. The associated article is here.

Corporate Compliance and Enforcement Hot Topics With IBM VP Una Dean

Editor-in-Chief Rebecca Hughes Parker recently spoke with IBM's vice president and assistant general counsel of investigations Una Dean, who will be co-chairing ACI's FCPA conference this fall, about a range of hot compliance topics. 

The video is here

Quick Take on FARA

https://acuris.wistia.com/medias/wmb5vyeq2f

Global Editor-in-Chief Rebecca Hughes Parker discusses the Foreign Agents Registration Act (FARA) in this short video. For our three-part guide to FARA and the new risk environment, see here.