Resolutions in the Direct Access Partners Matter and the Panama Papers: A Caution for Financial Sector Anti-Corruption Compliance

In May 2013, the DOJ unsealed criminal FCPA, Travel Act, money laundering and conspiracy charges against two employees of the New York broker-dealer Direct Access Partners, as well as Travel Act, money laundering and conspiracy charges against Maria de Los Angeles Gonzalez de Hernandez, vice president for finance of the Economic and Social Development Bank of Venezuela. In the three years since the original indictments, the case expanded, with additional indictments, amended SEC complaints, guilty pleas, sentencing and, in early April 2016, final judgments being entered in the SEC civil action. In a guest article, Sean Hecker and Andrew Levine, partners, and Philip Rohlik, counsel at Debevoise & Plimpton highlight the lessons companies can learn from the DAP case and other recent events. See “Why the Direct Access Partners Case Matters for Financial Sector Anti-Corruption Compliance” (Oct. 23, 2013).

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