In this episode I visit with Matthew Jacobs, a partner at Vinson & Elkins in San Francisco who represented the Audit Committee of the Board of Directors of Juniper Networks in the company’s recently concluded FCPA enforcement action. In addition to his discussion his work on the matter we discussed some interesting questions about representation during the pendency of a FCPA investigation. Some of the highlights include:
- Initial retention by the Audit Committee and the scope of the assignment?
- Why the settlement was so favorable to the company?
- How the company is in a stronger position now to stay in compliance with the FCPA and other international anticorruption laws today.
- When should there be separate counsel for company and audit committee?
- Why do cases take so long and how does that help or hurt the company?
- What is the role of management changes in the resolution of a FCPA enforcement action?
- How has the interest of the government in compliance changed?
- Where does the disgorgement issue fit in settlement discussions?
- What is the effect of the government deferring to internal investigations?