Former Fed Enforcers Warn Companies Of Coming FCPA Crackdown

Two former high-level government enforcers, both of whom are now defense attorneys, warn companies that FCPA and other corruption enforcement by their former employers is going to get even more intense. Cheryl Scarboro, former chief of the SEC’s FCPA Enforcement Division and now a partner at Simpson Thacher & Bartlett, and Greg Andres, former head of the DOJ Criminal Division’s fraud section and now a partner at Davis Polk & Wardwell, spoke recently at a New York City Bar Association seminar. They said that new strategies and tools being employed by the agencies – including, in the case of the DOJ, wiretaps and efforts to “flip” individual participants in complex schemes – should make companies give serious consideration to self-reporting in situations that previously might have been ignored.