Welcome to the award-winning FCPA Compliance Report, the longest running podcast in compliance. In this edition of the FCPA Compliance Report, Tom Fox cross post the first episode of a new podcast series from Nicolas Tollet, partner at Hughes, Hubbard and Reed
In this episode, Tollet delves into the substantial financial benefits stemming from robust compliance measures. Tollet recounts a company’s journey through two deferred prosecution agreements (DPAs) related to bribery and corruption allegations in Africa and Brazil, detailing how proactive compliance actions saved the company approximately $100 million. He emphasizes the crucial role of an independent monitor and in-depth compliance reviews in identifying and mitigating misconduct. Tollet explores the implementation of compliance policies and training programs, drawing comparisons with high-profile cases like Walmart’s FCPA settlement, to illustrate the long-term financial stability and operational integrity gained through early compliance investment.
Highlights in this Episode:
- The First Deferred Prosecution Agreement (DPA)
- The Second DPA and Lava Jato Investigation
- Compliance as a Competitive Advantage
- Detecting and Addressing Misconduct
- Remediation and Strengthening Compliance
- Financial Benefits of Compliance
- Comparing with Walmart FCPA Case
Resources:
Nicolas Tollet at Hughes Hubbard & Reed
Tom Fox
For an audio/video version of the Compliance Kids book, Speaking Up is AWESOME, contact Tom Fox.
