In this episode, I was pleased to visit with Fry Wernick and Mike Ward, both partners at Vinson & Elkins. We dissect the three biggest anticorruption enforcement actions: Airbus, J&F Investments and Goldman Sachs. Fry explains things from the government perspective and Mike takes a look at things from the in-house CCO or compliance professional perspective. Their collective insights were great and I know you will enjoy this episode:

I.  Airbus

DOJ Perspective

  1. In this case, the UK and France took the lead in the investigation? What does this mean workload wise in the FCPA unit?
  2. There were claims other than FCPA violations investigated by the US. How, if at all, did those impact the FCPA investigation.
  3. What are some of the unique challenges in working with French prosecutors and theFrench blocking statute.
  4. How does the DOJ work thru the gross penalty with other countries?

Company Perspective

  1. What does this case tell a compliance professional?
  2. What was the bribery scheme? What is the MO of the bad guys?
  3. What controls were discussed in the settlement documents?
  4. What company conduct was rewarded?

II.  J&F Investments

DOJ Perspective

  1. How do you evaluate something so massive, yet largely resolved by the time the DOJ takes the lead?
  2. How is it to work with Brazilian prosecutors? Does each large international investigation have its own character and cadence?

Company Perspective

  1. This case had difficult corporate governance issues.
  2. Your M&A protocol needs to be in place but the risks from each transaction are bespoke.
  3. In many ways, the case was a testament to deep pockets.
  4. Pay attention to what is said in the resolution documents.

III.  Goldman Sachs

DOJ Perspective

  1. Obviously as the biggest FCPA prosecution ever, how does the Dept. work up such a case. Are there multiple prosecutors working up different aspects of the case?
  2. How do you coordinate both internationally and domestically with all the other regulatory bodies?
  3. What is the one pie concept and why is it so important?

Company Perspective

  1. Why was there no monitor?
  2. Compliance needs to be persistent and persistently right.
  3. Why are compliance red flags also commercial red flags?
  4. Will clawbacks become the norm?

For more information on Fry Wernick and Mike Ward and their practices, check out the Vinson & Elkins website here.