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FCPA Compliance Report

Tom Fox has practiced law in Houston for 30 years and now brings you the FCPA Compliance and Ethics Report. Learn the latest in anti-corruption and anti-bribery compliance and international transaction issues, as well as business solutions to compliance problems.
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Now displaying: Page 1
Aug 14, 2017

In this episode Mike Volkov and I discuss the two official pronouncements from the Sessions’ Justice Department regarding FCPA enforcement. They were both declinations used under the FCPA Pilot Program, which was announced in April 2016. The first declination involved Linde Gas North America LLC and Linde North America Inc. Linde Gas is a wholly owned subsidiary of the Linde Group, a German based entity which is listed on multiple stock exchanges in Germany, but not listed in the US.  The second declination involved CDM Smith Inc. a privately held company, headquartered in Boston MA. As neither company is a US publicly listed entity, neither is subject to jurisdiction of the SEC. Hence both declinations were granted with the notation of declinations with disgorgement. In Linde Gas, the disgorgement amount was $7.8 million and forfeit $3.4 million, for a total of $11.2 million and in the CDM Smith declination the disgorgement amount was $4.037 million. Both declinations were superior results obtained by the companies as both had clearly violated the FCPA, for multiple years in ongoing bribery and corruption schemes.

For more on these two enforcement actions see the following:

  1. Linde in the Republic of Georgia: A Declination and Lessons Learned by Tom Fox;
  2. A Second Superior Result - CDM Smith Obtains a Declination by Tom Fox; and
  3. Justice Department Resolves Two Cases Under FCPA Pilot Program by Mike Volkov.
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