Archive for the ‘News Corp.’ Category

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Episode #52

In disclosure,Harris Corp.,News Corp.,Safran,State-Owned Entities,TWIFCPAVideocast,UK Bribery Act,Wal-Mart on September 10, 2012 by Howard@OpenAir Tagged: , , , , , , , , , ,

Tom and I talk about Tom’s talk tomorrow in Chicago, News Corp.’s latest arrest, Safran’s ridiculously low fine, how much an investigation should cost (more if you’re Walmart, versus ABM), the SFO and gifts, Harris Corp. and gifts, and more!

Show notes:

00:41: Go hear Tom in Chicago, Tuesday morning at the University Club of Chicago, hosted by Kreller, along with Stephen Martin of Baker McKenzie. They’ll be talking about the 5 key elements of a corporate compliance program

02:15: Is the SFO backing off prosecution of the UK Bribery Act? So argues Alexandra Wrage.

16:03: Mike Koehler is amazing. And, he writes. What is a government instrumentality, he asks, now that the Conflict Minerals rule defines it as when a foreign government owns 51% or more of the third party.

23:19: Anytime a lawyer gets arrested, we take notice. The head of legal for News of the World gets arrested.

26:48: How much should FCPA investigations cost? For Walmart, $51 million. For ABM, $3.3 million

29:27: Safran pays a “fine.” €500,000 to get a €170 million contract. Or, as I call it, cost of sales. Could it be because they’re 1/3 owned by the French government? Hey, DOJ/SEC: do something about this. Please.

35:05: NYU study on self-disclosure. Does self-disclosure have an effect on the penalty?

40:07: Harris Corp. investigating itself. Over gifts. “Why? Why? Why?,” I cry. And a question to ponder: is it possible to retain revenue going forward when you find old contracts were obtained through bribery?

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Episode #49

In News Corp.,OFAC,Pfizer,Sanctions,Standard Chartered on August 13, 2012 by Howard@OpenAir Tagged: , , , , , , , , , , , ,

Show notes:

01:21: Howard won’t tempt fate again. Believe it.
02:03: Pfizer & Wyeth settle enforcement actions. Tom and I will be doing an entire episode just about that.
04:42: Standard Chartered
21:32: Did Standard Chartered have a “Deceptive Business Plan?” Or did they just follow the law as OFAC has laid it out?
29:44: What happened to the Attorney-Client Privilege?!
32:46: We have to bring Deloitte into it too
37:40: Evasion versus doing what’s legal in a different way (or, is it illegal if you jump through the hoops they set up?)
39:26: Is there such a thing as “reputation risk?”
46:34: SFO is investigating an EADS subsidiary
49:38: News Corp. arrests, Church of England divests
52:43: JP Morgan Chase is my new best friend

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Episode #47

In Africa Sting Case,Declinations,News Corp.,Self-disclosure on July 30, 2012 by Howard@OpenAir Tagged: , , , , , , , , , , , , , , , , , , , , ,

A shorter episode this week, in episode #47 Tom and I talk about the virtues of a free press, checkbook journalism, the effect of foreign law on US regulatory decisions, how to choose FCPA outside counsel, and more!

02:15: No enforcement actions this week, no new investigations
02:47: News Corp., phone hacking, the Leveson Committee, and we’re shocked, shocked, to find that there’s gambling going on in this establishment (wait, you mean that reporters pay for access?!). The intersection between the FCPA and a free press.
09:04: New law firm FCPA updates
10:36: if Germany says someone isn’t a government official, does that bind (or even influence) the DOJ?
15:25: law firm FCPA updates are too long, I argue
18:00: How to choose outside counsel for FCPA matters (Howard’s version)
26:37: Howard’s book comes out (okay, it’s Alexandra Wrage’s book; I just wrote a chapter).
27:43: New corporate disclosures (Qualcomm, Stryker, Schlumberger) show LONG investigations
32:11: Bistrong gets a recommendation of probation
34:17: The problem with sting cases
35:27: What’s a declination?

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Episode #42

In Alcoa,Due Diligence,Hughes Hubbard,News Corp.,RICO,TWIFCPAVideocast,UK Bribery Act,Wal-Mart,Watts Water on June 15, 2012 by Howard@OpenAir Tagged: , , , , , ,

Show Notes:

01:31: Alba wins motion to dismiss their case against Alcoa
09:32: Is it okay that the DOJ uses a company’s internal investigation results?
14:17: Watts Water sues its lawyers
18:36: Due Diligence is difficult, especially in China (learned from the China Law Blog)
23:43: We start to talk about the UK DPA Consultation, but end up riffing on whether there should be DPAs at all
28:32: We finally get back to the UK
29:33: Why is Congress investigating Walmart?
36:47: Maybe because Walmart’s investigation scope has expanded, again
40:57: We throw in some News Corp. (not a sponsor of this video) news
43:12: Hughes Hubbard shares some wisdom
47:13: Tom and I are both speaking in Houston the last week in June, but at different events.

Hughes Hubbard FCPA Anti-Bribery Alert Summer 2012 Electronic Version

Come hear me and Jonathan Marks speak: June 25th (Monday) in San Francisco and June 26th (Tuesday) in Houston.

China Law Blog: definitely worth the time. In fact, it’s worth a lot of time.

UK Consultation Page

Articles

Episode #38

In Carson,Esquinazi,News Corp.,Wal-Mart on May 18, 2012 by Howard@OpenAir Tagged: , , , , , ,

Tom and I talk about News Corp. and the arrest of Rebekah Brooks (and the lawyer who charges $4,700 per hour).  We talk about the Carson case and Judge Selna reassuring us that private means private.  We talk about Esquinazi and his appeal, including the effect of the dueling declarations.  Finally, we talk about Walmart, the expansion of the investigation, and how it’s bringing in more commentary than we’ve seen in the past.

Show Notes:

1:01: Takeaways from the ABA Panel with the SEC
4:42: News Corp.’s Brooks arrested
8:39: The $4,700 per hour lawyer?!
12:57: Judge Selna’s tentative Carson decision; what should the government have to search and disclose?
26:29: Esquinazi appeal
31:41: The dueling “declarations.” Is Haiti Teleco an instrumentality or not? Haiti says no. Wait, they say yes.
42:14 Walmart’s disclosure
43:34: The Donald comments
49:52: What’s coming up from Tom and Howard, including that we are going to be together at Compliance Week on a panel going over the recent case law and hot FCPA issues. Come to Compliance Week and see us.

Articles

Episode #37

In Carson,News Corp.,Self-disclosure,Wal-Mart,Willful blindness on May 11, 2012 by Howard@OpenAir Tagged: , , , , , , , , ,

Just slapping it up, show notes to follow (at some point: I’m traveling for the rest of the week).

Tom and I talk about WalMart and their self-disclosure issue…no, wait…they don’t have a self-disclosure issue, do they?

We also talk about News Corp. (not the publisher of this blog…sorry, Sam), crisis management, willful blindness, and when’s it all gonna end?!

And we talk about when an in-house or outside counsel suddenly is cross-designated—without their knowledge or consent, much less additional salary—as a “government agent.”

Enjoy.

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Episode #36

In Declinations,Morgan Stanley,News Corp.,Wal-Mart on April 30, 2012 by Howard@OpenAir Tagged: , , ,

Show notes to follow, but know that at 51:51, Tom gives a preview of tomorrow’s post (on my Nightmare Scenario) on his blog.

Articles

Episode #32

In Africa Sting Case,Alcoa,News Corp.,Noble,TSKJ,TWIFCPAVideocast,Wynn on March 5, 2012 by Howard@OpenAir Tagged: , , , , , , , , , , , ,

New recording software. Oh My G-d. How much easier is this?

1:24: Tom gets published! Go to Amazon and look at his book. (lasts 30 seconds)

2:05: Tom moderates at panel at the    upcoming Global Compliance Symposium. Take a look here and see what’s what. (3 minutes)

5:05: News Corp. (17 minutes)

–Around 12:57, Howard takes a surprising position
–Around 17:44, what should regulators do when a company self-reports a violation, but a
really minor one?

22:22: Noble execs get sued (13 minutes)

–Is there going to be a trial? @26:05
–Around the 30-minute mark, I take another surprising stance on the SEC’s capabilities,
Tom says I’m wrong about something, I concede; and I take a very unsympathetic view to
a prosecution (yes, that’s possible)

35:45: TSKJ sentencings (7 1/2 minutes)

–Stanley @ 35:45
–Tesler @38:35
–@43:46, the impossible happens: Howard says “I’m wrong.”

44:08: Africa Sting case ends (11 minutes)

55:15: Wynn Resorts boots a board member (6 1/2 minutes)

1:01:40: Alba suing Alcoa (1 1/2 minutes)

1:03:15: Alstom subsidiaries get debarred. (3 minutes)

Articles

Episode #30

In News Corp.,O'Shea,TWIFCPAVideocast on February 6, 2012 by Howard@OpenAir

Show Notes:

01:35 Africa Sting fiasco case and is the DOJ “on the ropes?” (lasts about 15 minutes)
16:30 Any broader lessons to the recent DOJ problems? (about 3 1/2 minutes)
20:55 Cinergy (almost 3 minutes)
23:48 O’Shea (my rant begins at 24:10 and continues for about 8 minutes)(the whole thing lasts 15 minutes)
39:04 Brazil minister resigns. Yes, another one. (3 1/2 minutes)
42:35 Avon fires its Vice Chairman (2 minutes)
44:55 The revolving door strikes again (2 1/2 minutes)
47:15 Qualcomm (2 minutes)
49:27 Compliance consolidation (private equity buys some ethics)(about 4 1/2 minutes)
54:00 Tom and I get invited to speak different places
56:21 News Corp. is back

Full episode:

Articles

Episode #18

In AML,Chadbourne,Chamber of Commerce,KPMG,News Corp.,TWIFCPAVideocast,Wolfsberg Group,WSJ on October 3, 2011 by Howard@OpenAir

Show notes:

  1. Wall St. Journal’s Corruption Currents Turns 1. First word, “scandal,” parent company bores its friends with the video.
  2. Chadbourne serves up some insurance industry information that actually kept me awake.
  3. Wolfsberg Group hits a home run with its anti-corruption guidance.
  4. Open Society Foundations hits a home run with its counterpunch to the Chamber of Commerce.
  5. DOJ concedes an issue, surprising me and Tom. (Not that they would concede in general, just that they gave in here).
  6. We just can’t seem to get away from News Corp. To be fair to us, though, it is everywhere.
  7. KPMG and Dow Jones/ACAMS publish dueling AML surveys with some interesting nuggets for anti-corruption.
  8. It’s a crime, apparently, to be good, and a reporter, at the same time, in Oman.
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