There is nothing quite like a trial to bring all kinds of information to light that various parties would rather keep out of view. Goldman Sachs is now learning that the hard way in a suit regarding Libya’s sovereign wealth fund that has some serious FCPA implications. Tom Fox reports.
Tom Fox
Thomas Fox has practiced law for over 40 years. Tom writes the daily award-winning blog, the FCPA Compliance and Ethics blog and founded the Compliance Podcast Network. Tom leads the discussion on AI in compliance through his best-selling book Upping Your Game. He has 38 other books on the use of AI in compliance and business ethics, leadership including the seminal work, The Compliance Handbook, with its 7th edition coming out in 2025. He is the founder of the award-winning Compliance Podcast Network.
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Posted inAnti-Bribery
A second corruption scandal arises in Brazil
Most of Brazil’s corruption focus over the past couple of years has been around Petrobras and the fallout from Operation Car Wash, but a second corruption scandal (dubbed Operation Zelotes) has arisen in Brazil that could be equally massive—this one relating to tax evasion by not only Brazilian companies, but also multinationals doing business in Brazil. Tom Fox has the details.
Posted inAnti-Bribery
Quid pro quo and FCPA enforcement
The Supreme Court’s reversal of the public corruption conviction of former VA Governor McDonnell should not have any effect on FCPA enforcement going forward. Tom Fox has more.
Posted inRisk Management
When is contract price a risk?
Does a low bid contract present a compliance risk? Tom Fox examines what could go wrong now for Panama with the grand opening of the Panama Canal.
Posted inRegulatory Enforcement
Compliance front and center
The SEC and Justice Department have made it clear that it will no longer be adequate for companies merely to have a compliance program in place; it must actually be taken seriously from within and given the power and resources to do its job. Tom Fox explores.
Posted inEthics & Culture
WADA and its non-response to whistleblowing
What are the implications of an entity not responding to allegations, which come to its attention through a whistleblower? In the FCPA world, such corporate behavior can lead to significant legal and financial consequences. The Man From FCPA was therefore intriged by recent reports that the World Anti-Doping Agency (WADA) had long ago received information […]
Posted inFrom the Archive
At one bank, lax compliance and internal controls are a ‘cancer’
The Man from FCPA has seen a lot of strong statements from top management, but when a chief executive likens non-compliance to cancer, you know it is serious. But last week, Bill Winters, the chief executive of the UK bank Standard Chartered, did just that when he announced that he had taken steps, and would […]
Posted inBoards & Shareholders
VW’s Dieselgate has finally reached the automaker’s C-Suite
The VW emissions-testing scandal has reached the embattled automaker’s C-Suite. It was only a matter of time. Tom Fox reports.
Posted inAnti-Bribery
Responsibility under the FCPA: persons vs. systems approach
How your company considers Foreign Corrupt Practices Act violations will inform its response. Inside, FCPA blogger Tom Fox examines the differences between a persons versus a systems approach when it comes to tackling those violations.
Posted inInternal Controls
Lax controls—a cancer at one bank
Bill Winters, CEO of the U.K. bank Standard Chartered may have set a new precedent for taking a hard stance on ethics and compliance recently, when he penned an angry memo to 1,500 top managers announcing steps he has taken to “stamp out the cancer of complacency and lax controls” at the firm. Tom Fox reports.