FCPA Update 1 April 2021 Volume 12 Number 9 FCPA Update a Global Anti‑Corruption Newsletter
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Odebrecht 2015
Odebrecht 2015 TRUST AND UNITY CHILDREN FROM YURIMAGUAS, NORTHERN PERU: THE TOWN IS GROWING AND DEVELOPING THANKS TO THE IIRSA NORTH HIGHWAY, WHICH RUNS THROUGH THE ANDES MOUNTAINS AND LINKS THE PACIFIC AND ATLANTIC OCEANS TRUST AND UNITY PRESENT FOR OVER Much of what you will read in the SEVEN DECADES IN directly linked to the development following pages of this report reflects SEVERAL DIFFERENT of their local countries and regions. new guidelines the Group has adopted MARKETS, REGIONS due to changes in the domestic and AND COUNTRIES, THE teams united by the ethical and moral world scenes. Odebrecht adapts its ODEBRECHT GROUP IS concepts set forth in the Odebrecht structure to the demands of the most A MODEL OF SOLIDITY, Entrepreneurial Technology (TEO). competitive markets, increases its WORKING ON THE TEO is the basis for the work of all productivity and maintains investments BASIS OF CONFIDENCE Odebrecht Members and lays the in important projects for improving lives IN PEOPLE AND THE foundations for strengthening and in different parts of the world. Above ETHOS OF SERVICE. consolidating the Group. When times all, the Group reaffirms its confidence are tough, these clear principles in the development of people and guide and motivate its teams to communities and its commitment to learn, overcome and pursue the future. constant renewal. Odebrecht 2015 THIS REPORT PRESENTS THE MAIN RESULTS OF THE ODEBRECHT GROUP IN ALL ITS BUSINESSES AND FIELDS OF OPERATION IN 2014. IT CONTAINS CONSOLIDATED FINANCIAL, SOCIAL, ENVIRONMENTAL, CULTURAL AND SAFETY INDICATORS, AND SHOWCASES THE ORGANIZATION’S MAIN ACHIEVEMENTS DURING THAT PERIOD, INCLUDING UP-TO-DATE INFORMATION ON THE GROUP’S MACROSTRUCTURE. -
2019 FCPA/Anti-Corruption Year in Review
FCPA/Anti-Corruption Developments: 2019 Year in Review January 21, 2020 FCPA/Anti-Corruption Developments: 2019 Year in Review Lucinda A. Low and Brittany Prelogar (eds.)1 Introduction US Foreign Corrupt Practices Act (FCPA) enforcement authorities announced a steady stream of individual and corporate enforcement matters throughout 2019, some with eye-popping fines. Overall, the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) reported 50 FCPA-related actions (including 31 by the DOJ and 19 by the SEC) over the course of the year. The $2.9 billion in total fines, penalties, and disgorgement imposed in corporate FCPA settlements in 2019 nearly matched the record-breaking $2.91 billion imposed in 2018 in such matters. The DOJ also announced a slew of new charges against individuals and racked up a number of trial victories in existing cases. Mega settlements reached by two companies made up nearly two-thirds of the $2.9 billion total corporate penalties imposed in 2019. In the first quarter of the year, Mobile TeleSystems PJSC (MTS) agreed to pay $850 million in penalties and disgorgement to resolve charges against it, joining the ranks of fellow companies Telia and VimpelCom among the top FCPA fines to date for conduct relating to the Uzbek telecommunications sector. In a strong book-end to the year, Telefonaktiebolaget LM Ericsson (Ericsson) and its subsidiary, Ericsson Egypt Ltd. (Ericsson Egypt), agreed to pay more than $1 billion in penalties and disgorgement to resolve DOJ and SEC investigations for conduct in multiple countries. Enforcement against individuals, especially by the DOJ, was also particularly robust in 2019. -
Odebrecht 2014 SERVICE: an ONGOING COMMITMENT Service: an Ongoing Commitment
odebrecht.com Odebrecht 2014 SERVICE: AN ONGOING COMMITMENT Service: An Ongoing Commitment In 1944, the 23-year-old engineer Norberto Odebrecht founded a company in Salvador, Bahia, Brazil, that would give rise to the Odebrecht Group. He had a great deal of work ahead of him, but he was sure of one Odebrecht 2014 thing: that people exist to serve their fellows. His solid upbringing imbued him with that and other principles, which would guide both his life and the AV. LUIS VIANA, 2.841 course of the Odebrecht Group. EDIFÍCIO ODEBRECHT – PARALELA SALVADOR – BA – 41730-900 BRAZIL For 70 years, the ethos of service has been the decisive hallmark that sets the Odebrecht Group apart. It is impossible to translate that ethos RUA LEMOS MONTEIRO, 120 into words, but it can be easily identified in the conduct of people who EDIFÍCIO ODEBRECHT SÃO PAULO – BUTANTÃ SÃO PAULO – SP – 05501-050 are always willing to perceive, understand, and meet the needs of others, BRAZIL whether they are a client, a co-worker or anyone linked to their work or personal lives. Identifying and bringing in people endowed with that constant and steadfast desire to serve others has been Odebrecht’s main drive for seven decades. anks to them, things become simple, and everything else ensues naturally: the Client’s satisfaction, support for national development, the generation of social wealth, and the Group’s survival, growth, and perpetuity. Odebrecht’s history is the story of people with the ethos of service. People who apply it on a daily basis, no matter what. -
Rc: 85740 - Issn: 2448-0959
Revista Científica Multidisciplinar Núcleo do Conhecimento - RC: 85740 - ISSN: 2448-0959 https://www.nucleodoconhecimento.com.br/etica-es/lava-jato-y-odebrecht Operación Lava-Jato y Odebrecht: ¿Un caso que terminará? ARTÍCULO ORIGINAL SANTOS, Humberto de Faria [1], BRONZATO, Anderson [2] SANTOS, Humberto de Faria. BRONZATO, Anderson. Operación Lava-Jato y Odebrecht: ¿Un caso que terminará?. Revista Científica Multidisciplinar Núcleo do Conhecimento. Año 06, Ed. 02, Vol. 10, pp. 61-75. Febrero de 2021. ISSN:2448-0959, Enlace de acceso en: https://www.nucleodoconhecimento.com.br/etica-es/lava-jato-y-odebrecht RESUMEN Las personas y organizaciones de diferentes tipos siempre tienen el reto de decidir por qué tipo de marco ético cumplirán. La decisión puede ser gratificante o punitiva. Los agentes externos, al igual que las comunidades, pueden influir en cómo resultará la decisión. Este ensayo afirma que el escándalo de corrupción de Odebrecht es un ejemplo de tal situación. Junto con las decisiones internas de la compañía, la comunidad externa jugó un papel en el traslado de Odebrecht de ser un actor respetado en la industria de la construcción global a la exposición de sus prácticas inmorales. El presente estudio también demuestra los recientes intentos de injerencia política en las investigaciones de este escándalo y cómo el ex Odebrecht está tratando de reconstruirse como empresa. Palabras clave: Operación Lava-Jato, Odebrecht, Corrupción, América Latina. 1. INTRODUCCIÓN El objetivo de este ensayo es presentar el caso de corrupción de la constructora brasileña Odebrecht y analizarlo desde la perspectiva del marco que llevó a Odebrecht a actuar en uno de los mayores casos de corrupción de América Latina. -
Nixon's Caribbean Milieu, 1950–1968
Dark Quadrant: Organized Crime, Big Business, and the Corruption of American Democracy Online Appendix: Nixon’s Caribbean Milieu, 1950–1968 By Jonathan Marshall “Though his working life has been passed chiefly on the far shores of the continent, close by the Pacific and the Atlantic, some emotion always brings Richard Nixon back to the Caribbean waters off Key Biscayne and Florida.”—T. H. White, The Making of the President, 19681 Richard Nixon, like millions of other Americans, enjoyed Florida and the nearby islands of Cuba and the Bahamas as refuges where he could leave behind his many cares and inhibitions. But he also returned again and again to the region as an important ongoing source of political and financial support. In the process, the lax ethics of its shadier operators left its mark on his career. This Sunbelt frontier had long attracted more than its share of sleazy businessmen, promoters, and politicians who shared a get-rich-quick spirit. In Florida, hustlers made quick fortunes selling worthless land to gullible northerners and fleecing vacationers at illegal but wide-open gambling joints. Sheriffs and governors protected bookmakers and casino operators in return for campaign contributions and bribes. In nearby island nations, as described in chapter 4, dictators forged alliances with US mobsters to create havens for offshore gambling and to wield political influence in Washington. Nixon’s Caribbean milieu had roots in the mobster-infested Florida of the 1940s. He was introduced to that circle through banker and real estate investor Bebe Rebozo, lawyer Richard Danner, and Rep. George Smathers. Later this chapter will explore some of the diverse connections of this group by following the activities of Danner during the 1968 presidential campaign, as they touched on Nixon’s financial and political ties to Howard Hughes, the South Florida crime organization of Santo Trafficante, and mobbed-up hotels and casinos in Las Vegas and Miami. -
Practice Group
ROPES & GRAY WHITE PAPER Mexico March 19, 2014 Anti-Corruption Developments in Mexico OVERVIEW While corruption in Mexico has been widespread and well known for some time, the implications of that corruption on foreign companies doing business in Mexico became headline news when, on April 21, 2012, the New York Times broke the story that Wal-Mart de Mexico, Wal-Mart’s largest foreign subsidiary, had allegedly paid more than $24 million in bribes to Mexican officials.11 Wal-Mart de Mexico made these corrupt payments in order to obtain expedited building permits.2 The New York Times followed this article with another on December 17, 2012, this time alleging that Wal-Mart de Mexico bribed a Mexican official to change the zoning map so that it could build a store in an area that recently prohibited commercial development.3 The ongoing investigations that followed by the U.S. Congress, the U.S. Securities and Exchange Commission, and the U.S. Department of Justice cost Wal-Mart $157 million in fiscal year 2013 for the ongoing probe into the allegations.4 Mexican President Enrique Peña Nieto, who took office on December 1, 2012, has indicated that his administration is dedicated to addressing the corruption perceived to be rampant in a country where bribery can be a part of daily life.5 Mr. Peña Nieto is currently leading a reform of the state oil monopoly Pemex, which has long been viewed as one of the most corrupt institutions in Mexico (a 2003 New York Times article notes that Pemex executives estimated that the company loses at least $1 billion a year to corruption).6 Pemex has been referred to as the “Niagara Falls of corruption, it flows from everywhere and it’s not new;”7 a “sewer of corruption;”8 and a “slush fund for politicians.”9 In December 2013, Mr. -
OECD Bribery Awareness Handbook for Tax Examiners
OECD Bribery Awareness Handbook for Tax Examiners The Bribery Awareness Handbook, first issued in 2001, provides practical guidance to help tax inspectors and investigators identify suspicious payments likely to be bribes so that the denial of deductibility can be enforced, and bribe payments detected and reported to the appropriate domestic law enforcement authorities. The 2009 OECD Recommendation on Tax Measures for Further Combating Bribery of Foreign Public Officials in International Business Transactions will further strengthen the role of tax authorities in the combat against bribery, as it requires explicit legislation to prohibit the tax deductibility of bribes and promotes enhanced cooperation between tax authorities and law enforcement agencies to counter corruption. To mark the 10th anniversary of the entry into force of the OECD Anti-Bribery Convention, and to contribute to the newly launched global awareness-raising campaign to counter foreign bribery, the OECD has reissued the handbook, including the new recommendation. Other useful tools Money Laundering Awareness Handbook for Tax Examiners and Tax Auditors www.oecd.org/ctp/taxcrimes/laundering OECD Manual on the Implementation of Exchange of Information for Tax Purposes www.oecd.org/ctp/eoi/manual Tax Co-operation 2009: Towards a Level Playing Field - 2009 Assessment by the Global Forum on Transparency and Exchange of Information www.oecd.org/ctp/htp/cooperation OECD Bribery Awareness Handbook for Tax Examiners Centre for Tax Policy and Administration 2009 This handbook is available in 18 languages from www.oecd.org/ctp/nobribes OECD Bribery Awareness Handbook for Tax Examiners ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT The OECD is a unique forum where the governments of 30 democracies work together to address the economic, social and environmental challenges of globalisation. -
Odebrecht S.A
OEC S.A. and its Subsidiaries Interim Consolidated Financial Statements as at March 31, 2021 OEC S.A. and its Subsidiaries Consolidated Balance Sheets In thousands of reais and U.S. dollars March 31, December 31, March 31, December 31, 2021 2020 2021 2020 Note US$ R$ Note US$ R$ Assets Liabilities and Net Capital Deficiency Current Assets Current liabilities Cash and Cash Equivalents 6 79,417 452,460 873,987 Debts 17 81,524 464,465 4,279,848 Trade Accounts Receivable 7 404,472 2,304,397 2,103,338 Leases 21 5,024 28,625 31,194 Advances to Suppliers, Subcontractors and Others 6,855 39,055 117,119 Suppliers and Subcontractors 18 877,252 4,997,966 4,721,876 Taxes Recoverable 8 101,066 575,802 484,943 Taxes, Fees, Salaries and Social Contributions 19 149,777 853,323 812,690 Inventories 9 72,850 415,051 435,663 Advances from Customers 7 136,115 775,488 1,215,716 Current Accounts with Consortium Members 78,792 448,901 431,303 Current Accounts with Consortium Members 91,242 519,833 480,067 Prepaid Expenses 8,365 47,658 53,286 Provisions for Tax, Labor, Civil and Others Contingencies 20 125,655 715,897 573,114 Other Assets 10 134,887 768,507 696,111 Other Liabilities 22 63,361 360,986 500,521 886,704 5,051,831 5,195,750 1,529,950 8,716,583 12,615,026 Non-current assets held for sale and discontinued operations 13 (a) 63,289 360,576 342,039 Non-Current Liabilities Debts 17 785,185 4,473,437 111,623 Non-Current Assets Leases 21 15,920 90,702 89,674 Long-term Receivables Suppliers and Subcontractors 18 8,051 45,870 5,271 Financial investments 18,207 -
Odebrecht 2014 Odebrecht TODO TEMPO É DE SERVIR É DE TEMPO TODO
odebrecht.com Odebrecht 2014 Todo tempo é de servir TODO TEMPO É DE SERVIR Em 1944, aos 23 anos de idade, o engenheiro Norberto Odebrecht fundava, em Salvador, Bahia, a empresa que daria origem à Organização Odebrecht. Tinha muito trabalho pela frente, mas possuía uma certeza: a de que o Odebrecht 2014 ser humano existe para servir a seus semelhantes. A sólida educação familiar que recebera lhe legara esse e outros princípios que orientariam AV. LUIS VIANA, 2.841 a sua vida e a trajetória da Organização Odebrecht. EDIFÍCIO ODEBRECHT – PARALELA SALVADOR – BA – 41730-900 Ao longo de 70 anos, o espírito de servir tem sido a marca decisiva e RUA LEMOS MONTEIRO, 120 diferenciadora da Organização Odebrecht. Impossível de ser traduzido EDIFÍCIO ODEBRECHT SÃO PAULO – BUTANTÃ em palavras, esse espírito, entretanto, pode ser facilmente identificado SÃO PAULO – SP – 05501-050 no comportamento daqueles que estão sempre dispostos a perceber, compreender e atender às necessidades do outro – seja esse outro um cliente, um companheiro de equipe ou qualquer pessoa vinculada ao seu trabalho e à sua vida. Identificar e integrar pessoas com essa disposição permanente e inabalável tem sido o principal esforço da Odebrecht ao longo de sete décadas. Com isso, as coisas tornam-se simples e tudo o mais acontece naturalmente: a satisfação de clientes, o apoio ao desenvolvimento de países, a geração de riquezas sociais e a sobrevivência, o crescimento e a perpetuidade da Organização. A história da Odebrecht é a história de pessoas com espírito de servir. Pessoas que o exercem diariamente, em qualquer circunstância. Que o trazem no sangue e que, portanto, não conhecem tempo favorável ou desfavorável, tempo bom ou tempo ruim. -
1 - DM3\7281688.3 Representatives, Etc.) to Conduct Themselves Consistently with This Policy, Including by Complying with All Applicable Anti-Corruption Laws
EVAXION BIOTECH A/S ANTI-CORRUPTION, ANTI-BRIBERY AND OFAC POLICY STATEMENT AND COMPLIANCE GUIDE ANTI-CORRUPTION, ANTI-BRIBERY Introduction and Policy Statement It is the policy of Evaxion Biotech A/S., its subsidiaries and affiliates (collectively, the “Company”) to comply with the U.S. Foreign Corrupt Practices Act (“FCPA”), the United States Anti-Kickback Statute (“AKS”), physician self-referral laws (Stark Laws), the United States False Claims Act, Sections 122 and 299(2) of the Danish Criminal Code consolidated by Act no. 976 of 17 September 2019 (in Danish: Straffeloven) (“Danish Criminal Code”), the United Kingdom Bribery Act 2010 as amended, United Nations Convention against Corruption (“UNCAC”), the Council of Europe Criminal Law Convention on Corruption, and the Organization for Economic Cooperation and Development Anti-Bribery Convention (“OECD Anti-bribery Convention”) and all other applicable anti-bribery and anti-corruption laws. The Company prohibits bribery and other corrupt practices in any form, whether committed directly or indirectly, and whether involving government officials or private parties. This Anti-Corruption, Anti-Bribery and OFAC Policy Statement and Compliance Guide (“Policy”) is not designed to be all encompassing, but instead is intended to expand and supplement the provisions of the Company’s existing Code of Conduct, the Company’s various policies on interactions with Health Care Professionals and Health Care Organizations, as well as the PhRMA Code on Interactions with Health Care Professionals. This Policy clearly sets forth the Company’s policy prohibiting any activity in support of prohibited practices. Additionally, by providing a basic understanding of the relevant laws, the Policy provides guidance to assist in identifying situations that risk violating the FCPA, AKS, FCA, or other applicable anti- corruption laws and, therefore, ensure that appropriate action is taken. -
Developments in U.S. and International Efforts to Prevent Corruption
PUBLIC INTERNATIONAL LAW Developments in U.S. and International Efforts to Prevent Corruption KATHLEEN M HAMANN, PHILIP UROFSKY, NICOLE M. HEALY, ALEXANDRA WRAGE, AND MARGARET AYRES* I. Introduction Both the international community and the United States continued to expand their policy and enforcement efforts globally in 2005, culminating with the entry into force of the United Nations Convention Against Corruption (UNCAC)' on December 14, 2005. The *This report has previously been drafted by the Task Force on International Standards for Corrupt Practices. This year, the Task Force became the Committee. Due to the necessary brevity of this report, the Committee will be issuing a more comprehensive version that includes more in-depth analysis of U.S. cases and coverage of ongoing domestic and global policy initiatives. To view the complete report, please visit the Committee website at www.abanet.org/dch/committee.cfm?com = IC700600. Kathleen M Hamann, Philip Urosky, Nicole M. Healy, Alexandra Wrage, and Margaret Ayres contributed to this summary. Kathleen Hamann is an attorney in the Government Contracts, International, and White Collar Practice Groups at Powell Goldstein, LLP, specializing in international criminal laws and regulations. Prior to entering private practice, she was a foreign and civil service officer for the Department of State, where she developed international policy to combat international corruption and crime. Philip Urofsky is Special Counsel in the Business Fraud & Complex Litigation Group at Cadwalader Wick- ersham & Taft LLP. He was previously a prosecutor in the Fraud Section at the Department of Justice, where he was responsible for supervising and conducting investigations and prosecutions of violations of the Foreign Corrupt Practices Act. -
Annual Report 2019
READY FOR THE CHALLENGES OF THE FUTURE Annual Report 2019 4 | AR 2019 5 WE HAVE UNDERGONE A MAJOR TRANSFORMATION THAT ENABLES US TO BUILD TODAY THE FUTURE TO WHICH WE ASPIRE. 6 | AR 2019 7 A FUTURE THAT INCLUDES ODEBRECHT RECONNECTING WITH SOCIETY THROUGH DIALOGUE, TRANSPARENCY, ETHICS AND INTEGRITY. 8 | AR 2019 9 A FUTURE MARKED BY A CONSTANT DRIVE FOR INNOVATION AND THE DETERMINATION TO ADOPT SUSTAINABLE SOLUTIONS THAT MAKE A DIFFERENCE IN PEOPLE’S LIVES. 10 | AR 2019 11 A FUTURE GROUNDED IN THE ENGAGEMENT OF EACH OF OUR TEAM MEMBERS. THEY ARE THE DRIVING FORCE BEHIND OUR TRANSFORMATION TO BUILD A BETTER WORLD. AR 2019 OUR INTERNAL TRANSFORMATION JOURNEY AND THE RESTRUCTURING OF OUR BUSINESS THAT BEGAN THREE YEARS ARE THE FOUNDATION FOR NEW OPPORTUNITIES IN SUSTAINABLE GROWTH FOR THE ODEBRECHT GROUP. We are guided on this journey by our commitments and the first quarter of 2019, point to a new phase of to society, the first of which is always act ethically, growth, which would be even more robust if Brazil with integrity and transparency. and the other countries we serve were to surmount the structural limitations of their economies. We continue to enhance our governance and to strengthen the performance of our Businesses The immediate challenge facing Odebrecht S.A., the by disseminating and putting into practice the Group’s holding company, is stabilizing its financial new policies and directives that have renewed the situation, including approval by its creditors, corporate culture of a group with over 75 years of ratification by the Courts and execution of the experience, accumulated knowledge and expertise court-supervised reorganization plan, in accordance in the various fields in which we operate.