Welcome to the Hughes Hubbard Anti-Corruption & Internal Investigations Practice Group’s podcast, All Things Investigation. In this podcast, host Tom Fox is joined by HHR partner Mike DeBernardis on the considerations of trying an FCPA case.
Tom and Mike deeply dive into the complexities of preparing for and trying an FCPA case. It includes negotiating with corporate and individual clients involved in criminal cases. It is often easier to convince corporate clients to cooperate with government entities and engage in negotiation processes. Conversely, individual clients, driven by strong convictions of their innocence, can be resistant unless negotiation results in a non-prosecution decision. We highlight the challenging conversations defense counsels must have with individual clients regarding realistic outcomes, including discussing the strengths of the prosecution’s case and potential plea deals. Establishing early discussions about acceptable outcomes and strategies is vital to navigating these difficult negotiations.
Welcome to 10 For 10, the podcast that brings you the week’s Top 10 compliance stories in one podcast each week. Tom Fox, the Voice of Compliance, brings you the compliance professional and the compliance stories you need to know to end your busy week. Sit back, and in 10 minutes, hear the stories every compliance professional should know from the prior week. Every Saturday, 10 For 10 highlights the most important news, insights, and analysis for the compliance professional, all curated by the Voice of Compliance, Tom Fox. Get your weekly filling of compliance stories with 10 for 10, a podcast produced by the Compliance Podcast Network.
Will Habba go to trial in the Cognizant Tech execs case? (NY Post)
Boeing was sued for the wrongful death of a whistleblower. (WSJ)
Even Bloomberg says to enforce the FCPA. (Bloomberg)
The House speaker says Congress can eliminate district courts. (Reuters)
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen to the Daily Compliance News—all from the Compliance Podcast Network. Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional.
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen to the Daily Compliance News—all from the Compliance Podcast Network. Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional.
This episode discusses the recent executive order signed by US President Donald J. Trump instructing the Department of Justice to halt enforcement of the decades-old, much-dreaded Foreign Corrupt Practices Act (FCPA) pending a one-year review. In our initial “Regulatory Ramblings Spotlight” segment, we speak with Philip Rohlik, an American attorney in mainland China with the law firm Debevoise & Plimpton, to get a sense of what the president’s decision means for Hong Kong and the broader Asia-Pacific.
Following that, we have a longer chat on the global implications of President Trump’s move with Tom Fox, a veteran compliance and anti-corruption lawyer, noted FCPA specialist, and podcaster, and Malcolm Nance, a former US naval intelligence officer, counterterrorism specialist, and author.
Philip Rohlik
Philip Rohlik is counsel in Debevoise & Plimpton LLP’s Shanghai office. He is a member of the firm’s White Collar & Regulatory Defense and International Dispute Resolution Groups, and his practice focuses on international investigations, securities law, and dispute resolution. He is recognized by “The Legal 500 Asia Pacific—Greater China” (2024-2025) for his anti-corruption and compliance practice and has been described as “very thorough, “hands-on,” and “excellent investigation lawyer.”
Based in Asia since 2011, Philip leads the firm’s dispute resolution team in Shanghai. He joined Debevoise in 2000, having received his J.D. Magna Cumlaude from the New York University School of Law that same year. He received a B.A. Summa Cum Laude with honors from St. Louis University in 1997.
Tom Fox
Tom Fox is based in West Texas and is a prominent member of the compliance community and one of the most well-known legal practitioners regarding the FCPA. Over the past 15 years, he has been a general counsel and chief compliance officer. He is now an independent consultant, assisting companies with anti-corruption, anti-bribery compliance, and international transaction issues.
He is also the author of the award-winning FCPA Compliance and Ethics Blog and the international best-selling book Lessons Learned on Compliance and Ethics. His podcasts have won numerous W3, Davey, Communicator, and Webby awards for podcasting excellence.
Tom is the author of the seminal text “The Compliance Handbook,” now in its 5th edition published by LexisNexis. In addition to his blog and podcast, he is a columnist for “Corporate Compliance Insights” and a contributing editor to the “FCPA Blog.” He is a well-known and frequent speaker on compliance and ethics issues, social media use, and corporate leadership.
Malcolm Nance
Malcolm Nance is based in upstate New York. He is a 20-year veteran of the US Navy, where he was an intelligence officer, cryptographer, and Russian and Arab language specialist. As a master chief, he was responsible for discipline throughout the ranks.
He is best known for his appearances on MSNBC, where he warned about Russian interference in the run-up to the 2016 and 2020 US Presidential elections. Malcolm is also a best-selling author, with his books “The Plot to Hack America,” “The Plot to Destroy Democracy,” “The Plot to Betray America,” and most recently “They Want to Kill Americans,” all of which are well worth reading. Given the radical actions of the second Trump administration, his two most recent books seem eerily prescient. You can discover more from Malcolm at his Substack and his “Black Man Spy” podcast on YouTube.
Discussion:
Three weeks after returning to the White House, US President Donald Trump signed an executive order on February 10 directing the Justice Department to pause prosecutions of Americans accused of bribing foreign government officials while trying to win or retain business in their countries.
Trump’s order pauses enforcement of the nearly half-century-old Foreign Corrupt Practices Act (FCPA) and directs Attorney General Pam Bondi to review current and past actions related to the law and prepare new guidelines for enforcement.
The law, enacted in 1977, prohibits companies that operate in the United States from bribing foreign officials. Over time, it has become a guiding force for how American businesses operate overseas.
“It’s going to mean a lot more business for America,” Trump told reporters while signing the order in the Oval Office at the signing.
Interestingly enough, Trump wanted to strike down the FCPA during his first term in office, calling it a “horrible law” and claiming it made the US the subject of the world’s ridicule and derision.
Anti-corruption watchdog Transparency International said the FCPA made the US a world leader in addressing corruption.
Trump’s executive order “minimizes—and could pave the way for eliminating—the crown jewel in the U.S.’s fight against global corruption,” Gary Kalman, executive director of Transparency International US, said in a statement.
The White House factsheet said that in 2024, the Justice Department and the Securities Exchange Commission filed 26 FCPA-related enforcement actions, and by year-end, at least 31 companies were under investigation.
In the initial segment, Philip Rohlik chats with “Regulatory Ramblings” host Ajay Shamdasani about what the Trump administration’s actions will mean for the fight against bribery and corruption in Hong Kong, Greater China, and APAC writ large. They discuss the possibility that with less FCPA enforcement, the UK Bribery Act (2010) might fill the void to some extent, while acknowledging that the British Serious Fraud Office lacks the resources of the USDOJ to make extraterritorial enforcement a reality.
Philip also shares his advice on what he would tell compliance officers and in-house/general counsel at banking or financial institutions or major corporations in Hong Kong, Singapore, or Beijing. Hint: Now is not the time to relax.
We then turn to the longer conversation portion of the broadcast, where we examine some of the more global, macro-level effects of President Trump’s recent executive order.
Tom and Malcolm shared their visceral responses when they first heard the announcement that the administration would halt FCPA enforcement. Tom asks why Trump took so long because he had raised similar concerns during his first term (2017-21).
They share their concerns about what it will mean for the global fight against bribery and corruption while acknowledging the limitations of the UK Bribery Act. Still, mainland China’s anti-corruption legislation is worth considering as well.
The conversation concludes with Malcolm and Tom advising the legal and compliance professionals serving financial firms and multinational corporations in Asia, the Middle East, and the world more generally. They concur that now is not the time to slack off regarding anti-graft efforts.
They conclude that the FCPA is still a powerful tool. Given the current president’s vindictive and transactional nature, we might expect selective enforcement of the Act under his administration. Indeed, given past experience, it might be inevitable.
Regulatory Ramblings podcasts is brought to you by The University of Hong Kong – Reg/Tech Lab, HKU-SCF Fintech Academy, Asia Global Institute, and HKU-edX Professional Certificate in Fintech, with support from the HKU Faculty of Law.
The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject more fully. Are you looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode, Tom Fox and Matt Kelly discuss additional compliance issues raised by the current administration.
The first involves the Trump Administration investigating environmental groups receiving EPA grants. While both believe the investigations are politically motivated, they highlight the need for a robust compliance program, documentation of that program in practice, and transparency with stakeholders. The second example is the Democratic Republic of Congo’s offer to the Trump administration for mineral extraction rights, raising concerns about navigating FCPA compliance amid high corruption risks. The episode underscores the importance of robust compliance capabilities to handle unpredictable regulatory environments and emerging risks.
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News—all from the Compliance Podcast Network. Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional.
It is always interesting when the regulators catch up to the business world. That is what has happened around corporate culture. The Department of Justice is now assessing corporate culture for any company under investigation. Yet, more than simply complying with this mandate, companies should strive to foster the best culture that they can achieve. The reason is deceptively simple- the better the culture, the better the company. However, many business executives and even compliance professionals do not know how to craft a culture that allows your employees and your organization to implement such strategies. How can you unlock the power of a thriving workplace culture?
In this podcast series, Sam Silverstein, the most trusted voice in America on accountability, and Tom Fox, the Voice of Compliance, look at how companies can elevate their culture to new heights. In this episode, Tom and Sam begin a three-part series on the increased importance of compliance after Trump’s Executive Order suspending FCPA enforcement.
Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the Daily Compliance News—all from the Compliance Podcast Network. Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional.
Top stories include:
Meta faces a lawsuit for using cheap foreign workers. (Reuters)
What happens when two top compliance commentators get together? They talk compliance, of course. Join Tom Fox and Kristy Grant-Hart in 2 Gurus Talk Compliance as they discuss the latest compliance issues in this week’s episode!
Stories this week include:
JPMorgan’s purchase of Frank heads to criminal trial. (FT)
Dirty money, fentanyl, Mexican gangs, and China. (WSJ)
Philip Rohlik is counsel in Debevoise & Plimpton LLP’s Shanghai office. He is a member of the firm’s White Collar & Regulatory Defense and International Dispute Resolution Groups, and his practice focuses on international investigations, securities law, and dispute resolution. He is recognized by “The Legal 500 Asia Pacific—Greater China” (2024-2025) for his anti-corruption and compliance practice and has been described as “very thorough, “hands-on,” and “excellent investigation lawyer.”
Tom Fox is based in West Texas and is a prominent member of the compliance community and one of the most well-known legal practitioners regarding the FCPA. Over the past 15 years, he has been a general counsel and chief compliance officer. He is now an independent consultant, assisting companies with anti-corruption, anti-bribery compliance, and international transaction issues.
Malcolm Nance is based in upstate New York. He is a 20-year veteran of the US Navy, where he was an intelligence officer, cryptographer, and Russian and Arab language specialist. As a master chief, he was responsible for discipline throughout the ranks.
