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Foreign Corrupt Practices Act Alert Global Anti-Bribery Year-In-Review: 2018 Developments and Predictions for 2019

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Foreign Corrupt Practices Act Alert Global Anti-Bribery Year-In-Review: 2018 Developments and Predictions for 2019 JANUARY 17, 2019 Foreign Corrupt Practices Act Alert Global Anti-Bribery Year-in-Review: 2018 Developments and Predictions for 2019 By Kimberly A. Parker, Jay Holtmeier, Erin G.H. Sloane, Lillian Howard Potter, Emily L. Stark, Cyndy Chueh, and Roger M. Witten Table of Contents I. 2018 ENFORCEMENT TRENDS AND PRIORITIES ........................................................................... 4 A. Introduction ...................................................................................................................................... 4 B. 2018 Enforcement Trends and Priorities ......................................................................................... 4 1. 2018 Enforcement Metrics ........................................................................................................... 4 2. Developments in DOJ and SEC Policy ........................................................................................ 6 3. Blockbuster Resolution: Petrobras .............................................................................................. 8 4. Ongoing Investigation into PDVSA ............................................................................................ 10 5. Continued Rise in Global Enforcement and Cooperation .......................................................... 11 6. Legal Developments Regarding Theories of Enforcement ........................................................ 15 7. Increasing size of SEC Whistleblower awards .......................................................................... 16 II. RECENT POLICY ANNOUNCEMENTS ............................................................................................ 17 A. No “Piling On” Policy ...................................................................................................................... 17 B. Monitorship Memorandum ............................................................................................................. 18 C. Changes to “Yates Memorandum” ................................................................................................. 21 III. KEY INVESTIGATION-RELATED DEVELOPMENTS ....................................................................... 22 A. Declinations and Case Closures .................................................................................................... 22 1. 2018 FCPA Corporate Enforcement Policy Declinations .......................................................... 22 2. Cases Closed by the DOJ and SEC .......................................................................................... 24 B. Notable Features of Corporate Resolutions................................................................................... 26 1. Speeding Up Resolutions .......................................................................................................... 26 2. Repeat Offenders ...................................................................................................................... 27 3. SEC Continues to Bring Accounting Charges Without Direct Evidence of Bribery ................... 28 4. Resolution of An Additional Hiring Case .................................................................................... 29 5. Effect of Voluntary Disclosure and Cooperation on Penalties ................................................... 30 6. Continued Importance of Due Diligence and Active Monitoring of Third Parties ...................... 34 WILMER CUTLER PICKERING HALE AND DORR LLP 1 7. Focus on Foreign Companies.................................................................................................... 37 C. Notable Features of Individual Resolutions ................................................................................... 39 1. DOJ trial victory ......................................................................................................................... 40 2. Charging trends ......................................................................................................................... 41 IV. KEY LEGAL DEVELOPMENTS ......................................................................................................... 49 A. United States v. Hoskins limits reach of DOJ in FCPA conspiracy charges .................................. 49 B. United States v. Chi Ping Patrick Ho affirms alternative jurisdictional theories under the FCPA and use of correspondent banking transactions as jurisdictional basis for money laundering offenses ....... 50 C. Digital Realty Trust, Inc. v. Somers limits anti-retaliation provisions for internal whistleblowers ... 52 D. Continuing impact of Kokesh v. SEC ............................................................................................. 53 E. March 2018 D.D.C. ruling requires disclosure of certain information regarding candidates for monitorships ............................................................................................................................................ 56 V. COLLATERAL ACTIONS ................................................................................................................... 56 A. Shareholder Lawsuits ..................................................................................................................... 57 1. In re Petrobras Securities Litigation ........................................................................................... 57 2. In re General Cable Corp. Securities Litigation ......................................................................... 57 3. Embraer Shareholder Litigation ................................................................................................. 57 4. Och-Ziff Shareholder Litigation .................................................................................................. 58 B. RICO SUITS ................................................................................................................................... 59 1. Keppel Offshore & Marine Ltd. .................................................................................................. 59 2. Government of Bermuda v. Lahey Clinic, Inc. et al. .................................................................. 59 3. GolTV, Inc. et al. v. Fox Sports Latin America Ltd. et al. ........................................................... 60 C. Restitution Claims .......................................................................................................................... 60 1. United States v. OZ Africa Management GP, LLC .................................................................... 60 D. Lawsuits Leading to Investigations ................................................................................................ 61 1. AstraZeneca Private Lawsuit and DOJ Investigation ................................................................ 61 E. Arbitration ....................................................................................................................................... 61 1. Petrobras-Vantage Arbitration ................................................................................................... 61 VI. INTERNATIONAL DEVELOPMENTS ................................................................................................ 62 A. United Kingdom .............................................................................................................................. 62 1. Investigation and Enforcement Trends ...................................................................................... 62 2. Significant Cases ....................................................................................................................... 63 3. Legislative Developments .......................................................................................................... 65 4. Concluding Thoughts ................................................................................................................. 66 B. Germany ........................................................................................................................................ 66 1. Enforcement Efforts ................................................................................................................... 66 2. Legislative Developments .......................................................................................................... 67 C. France ............................................................................................................................................ 68 1. Legislative Developments .......................................................................................................... 68 2. Enforcement Efforts ................................................................................................................... 68 WILMER CUTLER PICKERING HALE AND DORR LLP 2 D. European Union ............................................................................................................................. 69 E. China .............................................................................................................................................. 70 1. Enforcement Efforts ................................................................................................................... 70 2. Legislative Developments .......................................................................................................... 71 F. India...............................................................................................................................................
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