Tag Archives: Securities and Exchange Commission

The High Cost of an FCPA Violation

Violations of the Foreign Corrupt Practices Act (“FCPA”) can lead to hefty penalties. Indeed, individuals who violate the FCPA, and their employers, could be on the hook for a variety of penalties described below. Businesses need to be aware of these potential consequences in order to appropriately perform risk-based analyses and determine what level of … Continue reading this entry

Is It Time to Switch Gears? Enforceability of Automotive Company Employee Confidentiality Restrictions

New Federal Trade Secret Protections on the Horizon?
Given the large workforces and importance of intellectual property and trade secrets in the automotive industry, automotive companies rely heavily on confidentiality provisions in employment agreements and employee handbooks. Thanks to a recent enforcement action brought by the U.S. Securities and Exchange Commission (SEC), it may be time to review and revise these confidentiality provisions.… Continue reading this entry

The FCPA Mandate in a Nutshell

As discussed in our Foreign Corrupt Practices Act (“FCPA”) overview, automotive companies participating in international business must be mindful of the FCPA. Though many are aware of the FCPA, some do not understand its breadth and depth. Below is a bare-bones breakdown of this federal law’s scope. While the below outline will help readers understand … Continue reading this entry

Why It's Wise to Pay Attention to Your FCPA Compliance

Companies in the automotive industry would be wise to pay attention to Foreign Corrupt Practices Act (the “FCPA”) compliance. What has in the past been a risk management issue principally for massive multi-national corporations is now a real and serious risk for almost any company – large, medium or small; public or private – that sells products, … Continue reading this entry

The Foreign Corrupt Practices Act: A Pitfall in International Trade

Department of Energy Makes it Easier to Access Low-Interest Financing
Just as in 2014, the Foreign Corrupt Practices Act (“FCPA”) should be top of mind for any automotive company conducting or considering international business. Indeed, any doubts that the government was still interested in investigating and prosecuting companies and individuals for violations of the FCPA, were put to rest in 2014. This is so because government enforcement … Continue reading this entry

TrueCar to Take Its New Approach to Buying and Selling Cars to Wall Street

TrueCar recently announced that it filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for an IPO of its common stock. According to the registration statement, TrueCar is seeking to raise $125 million through its IPO for “general corporate purposes, including working capital, operating expenses and capital expenditures.” TrueCar’s future includes “additional products and … Continue reading this entry

What’s Next for Conflict Minerals Rules After D.C. Circuit Decision?

On April 14, 2014, the U.S. Court of Appeals for the District of Columbia Circuit (D.C. Circuit) issued its long-anticipated ruling in the industry challenge to the Securities and Exchange Commission’s (SEC) conflict minerals rules, and – as we forecast in a previous blog post – free speech issues proved to be critical to the … Continue reading this entry

Could “Free Speech” Issues Derail the SEC’s Conflict Minerals Rule?

Shortly after the Securities and Exchange Commission (“SEC”) adopted its conflict minerals disclosure rule in August 2012, a coalition of business interests filed suit to challenge the SEC’s rule as unduly burdensome. That legal challenge to the conflict minerals rule entered its latest stage on Tuesday, January 7, 2014, when three judges of the U.S. … Continue reading this entry