Sec Non Prosecution Agreement

November 12, 2019, the CGU and AGU announced a leniency agreement of 516.3 million reais (approximately $127 million) with the Brazilian construction company Engevix Group (“Engevix”), now known as Nova ParticipaĆ©es, to settle the costs associated with the bribes the company allegedly paid for the profits of the construction contracts. [382] Engevix collaborated with Operation Car Wash by providing evidence of the behavior of more than 100 individuals and institutions. [383] [218] Press release, U.S. Attorney`s Office, Southern District of Florida, United States Government and Cooperating U.S. Gold Refinery Enter an Agreement After Money Laundering Investigation (April 17, 2019), In a statement announcing the closure of the Rolls-Royce and GlaxoSmithKline investigations, Lisa Osofsky, Director of the SFO, said: “After careful and careful consideration, I have concluded that there is either insufficient evidence to provide a realistic prospect of conviction or it is not in the public interest to prosecute these cases.” [323] The statement issued by the SFO stated that, under Osofsky`s leadership, the SFO closed other cases that were not disclosed to the public. [324] The Brazilian office of the “CGU” and the Office of the General Council of the Federal Government (“AGU”) have the authority to enter into leniency agreements with companies that regulate civil liability under the Clean Companies Act. [373] In order to benefit from leniency communication, like NPAs in the United States, companies must take responsibility, stop committing unlawful conduct, and cooperate effectively with the investigation and all administrative procedures. [374] Companies that are subject to a leniency agreement must implement a compliance program, submit to an external audit and pay fines and damages. [375] The agreement includes the same conduct that undersiquent to the december 2016 comprehensive agreement between Braskem and the Brazilian federal prosecutor, the DOJ, the SEC and the Swiss Federal Prosecutor`s Office. [376] Despite congressional criticism in recent years, the Department of Justice`s enforcement of deferred non-prosecution and non-prosecution agreements continues to soar.

And now the Securities and Exchange Commission is getting used to it. In addition to the SEC, the Department of Justice records its own registrations in the DPA-NPA arena. The increase in the number of agreements is due to many factors, including the increase in the DoJ`s resources and its more aggressive attitude towards business-related crime; Putting more emphasis on the enforcement of the foreign corruption law; and the frequency of voluntary disclosure of any corporate misconduct.

Posted in Uncategorized