May 5, 2011
Live Tweets by @Mark_Hamill_EsqYear in Review and Enforcement Trends
William J. Stuckwisch (DOJ): Prior enforcement "trends" now permanent features of the enforcementprogram.Charles E. Cain (SEC): Expect more proactive enforcement; more sweeps. Touting cooperationagreements with "targets."Asheesh Goel (Ropes): Blockbuster corporate remedies damaging to shareholder value.Kimberly A. Parker (Wilmer Cutler): FCPA "law" now not coming only from agencies, but from thecourts.William F. Pendergast (Paul, Hastings): For compliance, "foreign official" not very relevant to anti-corruption.Asheesh Goel (Ropes): Cost of internal investigation is itself a significant penalty. Corp. is a victim of acrime.William J. Stuckwisch (DOJ): Corp. not a "victim" in any sense of the word. Shareholders benefited fromthe crimes.William J. Stuckwisch (DOJ): Will continue to seek stiff sentences for individuals.William J. Stuckwisch (DOJ): Correlation (not causation) between self-disclosure and decision to notimpose a monitor.Asheesh Goel (Ropes): Some companies still need counseling on compliance basics (e.g., extent of duediligence).Charles E. Cain (SEC): Robust compliance program is in the best interest of the corporation.Charles E. Cain (SEC): Benefits of SEC nat'l FCPA unit not yet seen by public. SEC has cooperators andwhistleblowers.William J. Stuckwisch (DOJ): DOJ using more U.S. Attorney Office resources. Teaming up with AUSAs.Asheesh Goel (Ropes): Increased use of traditional law enforcement tools will change how we defendthese matters.William J. Stuckwisch (DOJ): Dodd-Frank has resulted in more whistleblowers.Charles E. Cain (SEC): Non-public cos. that are a conduit for bribes by public cos. can expect anenforcement action.