Public companies being investigated by the SEC often face difficult decisions about whether, when, and to what extent they should disclose the government inquiry. This is especially true in deciding whether to disclose the receipt of “Wells Notices,” which notify recipients that the Enforcement Staff may recommend that the Commission pursue formal charges against the
RICO suit being pursued in the US, relating to the charges brought against Victor Dahdaleh by the Serious Fraud Office
The RICO suit….reinforces our view that…when defendants become involved in allegations of corruption they may have to face multiple sets of criminal proceedings around the world as well as civil suits and the threat of public procurement debarment in the United States and the European Union. Winning contracts by illegal means can lead to the perfect legal storm.…
IMPORTANT REPORT ON UK IMPLEMENTATION OF THE OECD ANTI-BRIBERY CONVENTION
The OECD have published a detailed Report on the evaluations and recommendations of a Working Group on the UK’s implementation and enforcement of the OECD Anti-Bribery Convention. The Report provides a valuable critique of the Bribery Act 2010 and on the UK’s recent record on enforcement of existing corruption laws.…
A Question of Ethics: Senators: Take Care When Helping Contributors
Q: I am chief of staff for a Senator, and I have a question about providing services to our constituents. Our office constantly receives requests from constituents to help with matters pending before federal agencies, often from campaign contributors. Sometimes it makes me uneasy to help contributors. It almost feels like bribery to use our…
A Question of Ethics: Will STOCK Act Expand Federal Gratuities Law?
Q: I am a Senate staffer with a question about the STOCK Act. I have a friend who is an attorney, and he said that one of the biggest consequences of the act is a possible expansion of the law forbidding Members and staffers from accepting gratuities from constituents. I know that this has been…
MABEY AND JOHNSON – SFO OBTAINS CIVIL RECOVERY ORDER AGAINST SHAREHOLDER
The Serious Fraud Office has taken action in the High Court under Part 5 of the Proceeds of Crime Act which has resulted in an Order for a parent company, Mabey Engineering (Holdings) Ltd, to pay £131,201 in recognition of sums it received through share dividends derived from contracts won through unlawful conduct by one of its subsidiaries, Mabey and Johnson Limited, in which it was a principal shareholder.…
A Question of Ethics: William Jefferson’s Appeal Could Affect Bribery Law
Roll Call
January 17, 2012
Q: A friend and I have been following former Rep. William Jefferson’s (D-La.) appeal of his conviction for bribery. Over the holidays, I read that the appeal could significantly impact federal law regarding bribery. Can you help me understand what is at stake in Jefferson’s appeal?
A: Say you are…
FCPA Enforcement Measures
In a recent article for the ABA Journal ‘Litigation’, Susan Hansen argues that prosecutors are wielding the Foreign Corrupt Practices Act more actively, but not always successfully, while business interests are calling for changes in the law.…
New Director of the Serious Fraud Office appointed today
the Attorney General, Dominic Grieve QC has appointed David Green QC as the new Director of the Serious Fraud Office…
Judge Rakoff to the SEC: Want to settle? Show me the facts.
In a rebuke to the SEC, on Monday, November 29, 2011, U.S. District Court Judge Jed Rakoff (SDNY) refused to sign a consent judgment approving a $285 million settlement between the Agency and Citigroup. At issue is a lawsuit filed in October 2011 by the SEC alleging that Citigroup created and sold mortgage bond investments…