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FCPA Blog Daily News

Entries in princelings (8)

Wednesday
Jan112017

Memo to movie makers: Film roles can be something ‘of value’ 

In the fall of 2013, the FCPA Blog published my series Cameo Corruption, which focused on the potential use of film roles as something “of value” that could be improperly offered to influence foreign officials.

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Thursday
Nov172016

JPMorgan pays $264 million to resolve ‘Sons & Daughters Program’ FCPA offenses

JPMorgan Chase and a Hong Kong subsidiary agreed Thursday to pay $264.4 million to the DOJ, SEC, and Federal Reserve to resolve FCPA offenses for awarding prestigious jobs to relatives and friends of Chinese government officials to win banking deals.

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Monday
Aug242015

How to hire a princeling: Six rules anyone can follow

Last week BNY Mellon agreed to pay the SEC $14.8 million to settle charges that it violated the Foreign Corrupt Practices Act by awarding student internships to kids of officials connected with a sovereign wealth fund in the Middle East.

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Monday
Jan122015

Not every princeling job is a ‘thing of value’

In our era of talk shows, sound bytes, and political polarization, we can easily lose sight of a simple truth: the free exchange of ideas can be beautiful. The beauty lies in its potential to evoke ever more considered and disciplined views from the participants. In rare cases, it can even draw both sides toward a carefully formulated resolution that is satisfying to both.

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Wednesday
Jan072015

JP Morgan revisited: What's a princeling supposed to do?

We at the FCPA Blog are long overdue in recognizing the new resource that is the Global Anticorruption Blog. With my colleague in the legal academy, Harvard Law professor Matthew Stephenson, at the helm, GAB analyzes corruption law issues with uncommon intellectual rigor. They break down issues as few can. In so doing, they add great value to the anti-corruption debates of our day.

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Wednesday
Jun112014

The princeling problem: In search of a legal theory (Part 1)

Recently, I had the good fortune of hearing a partner from a leading FCPA practice discuss JP Morgan's hiring of Chinese princelings.

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Monday
Oct212013

JP Morgan rap sheet is deep and wide

JP Morgan Chase reached a tentative deal with the DOJ this weekend to settle a slew of past transgressions for $13 billion.

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Friday
Oct182013

U.S., China enforcement crossfire creates new risks

At the beginning of this year, China's president Xi Jinping promised to fight both "tigers" and "flies" -- high-ranking and low-ranking corrupt officials -- in his crackdown on corruption. Since then, the anti-graft campaign has led to the conviction of Bo Xilai and to the front-page investigations of foreign companies in the pharmaceutical and oil and gas sectors, among others.

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