Sociedad Química y Minera de Chile SA agreed Friday to pay $30.5 million to resolve criminal and civil Foreign Corrupt Practices Act charges that it bribed Chilean politicians to influence government policies and plans.
Entries in U.S. Sentencing Guidelines (12)
This year the DOJ required disgorgement of ill-gotten gains as a predicate for preferential treatment under the new FCPA enforcement Pilot Program, regardless of whether the participating company was publicly or privately owned.
As reported by the FCPA Blog Tuesday, the SEC and DOJ entered into parallel resolutions with Analogic Corporation and Analogic's wholly-owned Danish subsidiary BK Medical ApS in connection with violations of the books and records and accounting controls provisions of the FCPA.
The DOJ’s FCPA Guidance and Enforcement Plan places significant emphasis on organizational culture. The section describing “an effective compliance and ethics program” includes “whether the company has established a culture of compliance, including an awareness among employees that any criminal conduct, including the conduct underlying the investigation, will not be tolerated.”
On April 5 the DOJ's Fraud Section of the Criminal Division released a policy document called The Fraud Sections’ Foreign Corrupt Practices Act Enforcement Plan and Guidance. The new Guidance is an attempt to bring greater transparency to the benefits corporations will achieve by voluntarily disclosing FCPA problems and fully cooperating with investigations of these problems.
The international business community wins when companies across supply and marketing chains work to the same high standards. There is less risk and more predictability, which promotes confidence among business partners. Benchmarking among peers and establishing and sharing model language and best practices all help to ensure that companies set their sights on a reasonable common denominator for compliance.
Heads up: The six-month anniversary in your new position will arrive in a flash.
Corporate compliance enthusiasts have one more item on their To Do list this winter: be sure to review and comment on ISO 37001, the draft standard for anti-bribery management systems.
As mentioned in a prior post, ex post protective measures for whistleblowers are insufficient on their own. Considering the economic benefits brought by effective reporting mechanisms, private firms need to adopt proactive measures that will avoid whistleblower victimization and lead to meaningful organizational change.
Book Review: Tom Fox’s Doing Compliance: Design, Create, and Implement an Effective Anti-Corruption Compliance Program
Compliance must be thorough, systematic, and highly attentive to detail. But no one ever said it had to be boring. And Tom Fox has proven this yet again. His Doing Compliance provides the most sophisticated and comprehensive compliance guidance available, with a delivery that is witty, lively, and even entertaining.