In August of 2015, the SEC settled its first FCPA case based solely on hiring relatives of foreign officials. Stemming from a series of investigations of hiring practices at banks, the settlement with BNY Mellon illuminated how the SEC views the FCPA and the types of practices that can violate it. In the wake of this first for the SEC, companies may need to reassess and retool their compliance programs. In this installment of our two-part article series, we discuss how the BNY settlement clarifies what can be an FCPA violation. The second part will explore what changes companies should be making to their hiring policies, compliance programs and training curricula. See “BNY Mellon Settles Nepotism-Related Charges for $14.8 Million
” (Aug. 19, 2015).