France is the latest nation to join the anti-corruption fray, working to finalize a new law to fight corruption, foster transparency and modernize economic activity.
Entries in deferred prosecution agreements (10)
The DOJ said in a court filing this month that Biomet breached a 2012 deferred prosecution agreement "based on conduct in Brazil and Mexico."
The French bill for Transparency and Modernization of Economic Life, which, among other things, aims at preventing foreign bribery and intensifying the fight against it, has been the subject of much speculation during the past few months.
Orthopedic device maker Zimmer Biomet Holdings Inc. said in a securities filing Friday the DOJ and SEC are still investigating possible FCPA violations in Brazil and Mexico.
One of the oft-made criticisms regarding the Department of Justice (DOJ) around its enforcement of the Foreign Corrupt Practices Act (FCPA) is its the use of Deferred Prosecution Agreements (DPAs) and Non-Prosecution Agreements (NPAs) somehow pervert the course of justice. Speaking from the perspective of a former in-house type, I have argued that corporations desire DPAs and NPAs because they bring certainty. Not only in ending an enforcement action but also in knowing your obligations going forward; they bring certainty in setting the fines and penalties to be paid for a FCPA violation. And, of course, if you enter into a DPA or NPA you bring your corporate client the certainty that you will not ‘Arthur Anderson’ your organization out of existence.
Shearman & Sterling has released its bi-annual FCPA Digest -- an invaluable compendium of every DOJ and SEC enforcement action catalogued, explained and analyzed, including parallel cases (private suits), ongoing investigations and all DOJ opinion procedure releases.