Below, two graphics by Gibson Dunn and Crutcher. The first graph shows the number of deferred and non-criminal agreements concluded by the Ministry of Justice between 2000 and 2010; the second graph shows the fourteen different assertions that led to the 32 agreements reached by the Ministry of Justice in 2010. « It`s a very clever approach by the SEC to take charge of the use of NPAs, a very smart move, » Scholes says. « In exchange for permission not to prosecute, they receive and will continue to receive important information about the subjects of their investigation. » He says companies that enter into these agreements must accept strict compliance requirements. Mark Schnapp, co-chair of the economic criminal practice at the law firm Greenberg Triste, says the non-prosecution agreement means the SEC is becoming more aggressive in its investigations and prosecutions. « The SEC`s use of an NPA recognizes both the early cooperation of companies and the continued participation of companies in their implementation efforts, » he said. Deferred Enforcement Agreements (DpAs) encourage individuals and businesses to provide the SEC with future information on wrongdoing and to assist them in conducting a future investigation. In return, the SEC waives the ability to prosecute employees for their own violations if they meet certain obligations. The non-prosecution agreement with Carter resulted in charges of fraud and insider trading against former Executive Vice President Joseph Elles.

By entering the NPA and cooperating with the Elles investigation, Carter disqualified it for a period of five years due to overvalued net profits. The comparison of Wells Fargo`s FIRREA was conducted with the DOJ Civil Division (Commercial Litigation Branch) and the U.S. Office Attorney`s Office for the Central District of California. The transaction agreement does not add new factual claims. In addition, the Ministry of Justice has also increased the number of data protection authorities to resolve possible FCPA criminal proceedings, representing 14 of the 32 agreements reached in 2010. By comparison, in 2009, FCPA offences accounted for about 24 per cent of contracts, 26 per cent in 2007 and only 9 per cent in 2006.

Catégories :