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Foreign Corrupt Practices Act guidance released
  • Foley Hoag LLP
  • USA
  • November 15 2012

The US Department of Justice released its long-awaited guidance regarding the Foreign Corrupt Practices Act (“FCPA”) consisting of a 120-page Resource Guide to the U.S. Foreign Corrupt Practices Act along with a two-page “Fact Sheet”.


DOJ’s recent trend of prosecuting individuals for FCPA violations continues with longer prison sentences and increased fines
  • Foley Hoag LLP
  • USA
  • November 30 2011

The longest prison term ever imposed in a Foreign Corrupt Practices Act (“FCPA”) case -- fifteen years -- was recently given to Joel Esquenazi, former president of Terra Telecommunications Corporation, after a jury convicted him under the FCPA for bribes paid to officials at Haiti Teleco, a state-owned telecommunications agency.


First circuit to determine whether sarbanes-oxley act extends whistleblower protection to employees of contractors, subcontractors, and agents of publicly-traded companies
  • Foley Hoag LLP
  • USA
  • November 5 2010

The First Circuit has agreed to hear an appeal from a recent District of Massachusetts decision taking a very broad view of the whistleblower protection provision of the Sarbanes-Oxley Act.


SEC v. Tambone: the First Circuit reverses course on what it means to “make” a statement under the securities laws
  • Foley Hoag LLP
  • USA
  • March 23 2010

The First Circuit’s en banc ruling in SEC v. Tambone, No. 07-1384 (Mar. 10, 2010), vacated a key part of a prior ruling by a three-judge panel, and provides important guidance on the scope of “primary violator” liability under Section 10(b) of the 1934 Exchange Act and Rule 10b-5 thereunder.


Both history and recent trends indicate that strong FCPA enforcement likely to continue during economic downturn
  • Foley Hoag LLP
  • USA
  • July 20 2009

History teaches us that corruption and the perception of corruption rises in times of economic hardship, and this lesson has not been lost on the SEC and the DOJ.