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Full-Text Articles in Law
"Hash"Ing Out Inequality In The Legal Recreational Cannabis Industry, Maya Rahwanji
"Hash"Ing Out Inequality In The Legal Recreational Cannabis Industry, Maya Rahwanji
Northwestern Journal of International Law & Business
No abstract provided.
"Perfectly Properly Triable" In The United States: Is Extradition A Real And Significant Threat To Foreign Antitrust Offenders?, Daseul Kim
Northwestern Journal of International Law & Business
Seeking extradition of foreign officers in charge of foreign corporations for trial in the United States is one of the latest policies that the U.S. Department of Justice ("DOJ") has adopted to enforce U.S. antitrust laws internationally. As a result, the world has become a much riskier place for foreign officers and executives, who, in the past, could practically ignore U.S. antitrust laws and still hide safely behind the protection of their own countries' borders. The DOJ expects this "real and significant" threat of extradition to incentivize foreign corporate officers to comply with U.S. antitrust laws by altering their conduct, …
A Forensic Study Of Daewoo's Corporate Governance: Does Responsibility For The Meltdown Solely Lie With The Chaebol And Korea?, Joongi Kim
Northwestern Journal of International Law & Business
At the end of 1999, one of the largest conglomerates in the world, the Daewoo Group, collapsed in a spectacular fashion. During its peak, Daewoo was a sprawling enterprise with over 320,000 employees with 590 subsidiaries overseas that operated in over 110 countries. Its management received widespread praise and academic recognition for its success. Yet, when the Asian financial crisis hit in 1997, it managed to commit a deception worth 22.9 trillion won ($15.3 billion) that was termed the "biggest accounting fraud in history, surpassing WorldCom and Enron . . . ." Years later, inner-workings of the conglomerate are finally …
The Worldwide Banning Of Schmiergeld: A Look At The Foreign Corrupt Practices Act On Its Twentieth Birthday, Stanley Sporkin
The Worldwide Banning Of Schmiergeld: A Look At The Foreign Corrupt Practices Act On Its Twentieth Birthday, Stanley Sporkin
Northwestern Journal of International Law & Business
Many cynics viewed the United States' attempt to ban all forms of cor- porate bribery as another example of the federal government's taking on the role of Don Quixote and tilting at windmills. While the law may not have been taken seriously when it was first enacted, it is clear that it has assumed a prominent place among our federal criminal laws. According to a recent article in the Wall Street Journal, the FCPA remains "the world's toughest law against foreign bribes."9 This article will provide background as to how the law was conceived and will discuss the law's present …
Designing An Fcpa Compliance Program: Minimizing The Risks Of Improper Foreign Payments, Daniel L. Goelzer
Designing An Fcpa Compliance Program: Minimizing The Risks Of Improper Foreign Payments, Daniel L. Goelzer
Northwestern Journal of International Law & Business
Every U.S. company, public or private, that conducts operations out- side of the United States should devote serious consideration to creating and implementing an Foreign Corrupt Practices Act ("FCPA" or "Act") compli- ance program. In this context, an "FCPA compliance program" means a single, documented, corporate plan designed to reduce the likelihood that the company will engage in violations of the anti-bribery provisions of the FCPA, and to detect such violations and bring them to the attention of sen- ior management, if they occur.' A well-designed compliance program has obvious importance in educating employees concerning their responsibili- ties in this …
Globalizing Sanctions Against Foreign Bribery: The Emergence Of A New International Legal Consensus, David A. Gantz
Globalizing Sanctions Against Foreign Bribery: The Emergence Of A New International Legal Consensus, David A. Gantz
Northwestern Journal of International Law & Business
Part I of the article begins with a review of the rationale and key legal ele- ments of the U.S. Foreign Corrupt Practices Act. Part II describes recent efforts by the United States to convince other governments and firms of the need for binding, enforceable and universally accepted rules against corrupt payments to foreign public officials. Parts III and IV survey the activities of various governmental organizations and major private sector groups that support international efforts to effectively discourage foreign bribery, re- spectively. The key sections, Parts V and VI, describe, analyze and critique the two major international conventions, the …
The Development Of Compliance Programs: One Company's Experience, Patrick J. Head
The Development Of Compliance Programs: One Company's Experience, Patrick J. Head
Northwestern Journal of International Law & Business
Though the FCPA is only a small portion of the coverage of corporate compliance programs, this perspective will focus on the FCPA and, to a certain extent, on other collateral impact statutes, such as securities and in- ternal revenue laws. It will not delve into related statutes, such as the over- seas reach of antitrust laws.
Why Has The Fcpa Prospered, Lee C. Buchheit, Ralph Reisner
Why Has The Fcpa Prospered, Lee C. Buchheit, Ralph Reisner
Northwestern Journal of International Law & Business
The international reaction to the Helms-Burton Act has been fierce.7 But even while the Helms-Burton debate has been raging, an earlier iece of U.S. legislation, the Foreign Corrupt Practices Act (FCPA or Act), has garnered unexpected flattery from some of the same countries that have been so vigorous in denouncing the Helms-Burton Act. There are two pos- sible explanations for these different reactions.
The Problem Of Corruption: A Tale Of Two Countries, Kimberly Ann Elliott
The Problem Of Corruption: A Tale Of Two Countries, Kimberly Ann Elliott
Northwestern Journal of International Law & Business
This perspective provides an introduction to the problem of corruption, focusing on two questions: * What causes corruption? * Where is corruption most serious? The perspective concludes with a brief discussion of two countries - Kenya and Uganda - that seem to be going in opposite directions politi- cally and economically, as well as in their attitudes toward corruption.
Defending Sec And Doj Fcpa Investigations And Conducting Related Corporate Internal Investigations: The Triton Energy/Indonesia Sec Consent Decree Settlements, Arthur F. Mathews
Defending Sec And Doj Fcpa Investigations And Conducting Related Corporate Internal Investigations: The Triton Energy/Indonesia Sec Consent Decree Settlements, Arthur F. Mathews
Northwestern Journal of International Law & Business
This article will summarize the foreign bribery/corrupt foreign pay- ments provisions of the FCPA, briefly survey the related books and records and internal accounting controls provisions, analyze available defenses to civil and criminal FCPA charges, and explore sensitive substantive and strategic issues that arise in the defense of SEC and DOJ/grand jury investi- gations and in the conduct of related corporate internal investigations. This article will also analyze the recent SEC consent decree settlements in the Triton Energy/Indonesia case, and explore the types of defenses that might be pursued if an FCPA foreign payments case like Triton were litigated rather …
International Financial Institutions Face The Corruption Eruption: If The Ifis Put Their Muscle And Money Where Their Mouth Is, The Corruption Eruption May Be Capped, James P. Jr. Wesberry
International Financial Institutions Face The Corruption Eruption: If The Ifis Put Their Muscle And Money Where Their Mouth Is, The Corruption Eruption May Be Capped, James P. Jr. Wesberry
Northwestern Journal of International Law & Business
This article addresses what IFIs are doing, are not doing, and hopefully might do to help cap the corruption eruption sweeping our world. The article primarily relates the efforts of the World Bank in this area and briefly discusses efforts by other major IFIs.
The Conflict Between United States Securities Laws On Insider Trading And Swiss Bank Secrecy Laws, Ellen R. Levin
The Conflict Between United States Securities Laws On Insider Trading And Swiss Bank Secrecy Laws, Ellen R. Levin
Northwestern Journal of International Law & Business
In recent years the Swiss have grown defensive about the bad reputation their banks have earned for hiding so-called "dirty" money. A common perception is that through the protection of strict Swiss banking and commercial secrecy laws, Swiss numbered accounts hold the ill-gotten gains of organized crime, corrupt politicians, United States income tax evaders, and inside traders on United States securities markets. Both out of concern for preserving the integrity of what is regarded as Switzerland's most valuable asset -- its banking sector -- and in response to mounting criticism from abroad, Switzerland has agreed to help the United States …