Beware Increased FCPA Scrutiny On Financial Services
August 8, 2013, 12:47 PM EDT
Law360, New York (August 8, 2013, 12:47 PM EDT) -- In June, the U.S. Department of Justice announced the indictment of a managing partner of U.S. broker-dealer Direct Access Partners (DAP) for violations of the Foreign Corrupt Practices Act, the Travel Act and money laundering statutes. This indictment follows on the heels of last month’s indictment of two other DAP employees for the same alleged conduct, as well as the foreign official who received the bribes at issue.
The investigation into DAP was prompted by information discovered during a routine, periodic examination by the U.S. Securities...