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TRENDS IN FCPA ENFORCEMENT

  • Heightened disclosure required for companies seeking credit for cooperation with US Department of
    Justice (“DOJ”)
  • Increased focus on corporate vs individual crime
  • International focus on deterring the “demand side” of corruption
  • Most recent DOJ incentives to companies for voluntary self-disclosure, cooperation, and remediation
  • New certification requirements for CEOs and CCOs whose companies enter into FCPA settlement
    agreements
  • DOJ focus on compliance

INCREASED FOCUS ON CORPORATE CRIME

The Biden administration DOJ has repeatedly stressed its focus on prosecuting corporate crime.

For example, on October 28, 2021, Deputy Attorney General Lisa Monaco stated:
“Companies need to actively review their compliance programs to ensure they adequately monitor for and remediate misconduct—or else it’s going to cost them down the line.”

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WRITTEN BY

For further information, please contact:

Philip Ziter – Senior Associate,
PZiter@russinvecchi.com.vn

Prior to joining Russin & Vecchi, Philip worked in Vietnam as an attorney at a top tier regional law firm and later with a commercial firm involved in blockchain.

Philip advises on corporate and transactional matters, and on financing arrangements.

Philip has been legal advisor to a handful of startup companies. He is knowledgeable in the fintech, blockchain, and e-commerce industries in Vietnam, Hong Kong, Singapore, and the US.

Philip has also worked with manufacturers, pharmaceutical companies, and many entities in cross-border transactions.

He advises on inbound investments involving corporate finance, manufacturing, intellectual property, and mergers and acquisitions.

Practice Areas

  • Fintech & Telecoms, Media
  • Technology
  • Corporate 

Education

  • Michigan State University College of Law (JD)
  • University of British Columbia (BA, Interdisciplinary Studies)

Bar Admission

  • New York, NY

Deals

  • Acted for Commerzbank AG on the sale of various types of investment products to banks incorporated in Vietnam, including country-specific private placement rules and selling restrictions;
  • Acted for an international fintech company on market entry, setting up a local entity, including complying with Vietnamese regulatory requirements, advising on data protection and privacy compliance;
  • Acted for a US based technology startup to transfer and consolidate its intellectual property assets from Vietnam to the USA and to license it to Singapore;
  • Conducted pre-IPO due diligence on the Vietnamese assets of Property Guru, a major regional online property portal, in preparation for its initial listing on a foreign stock exchange;
  • Advised on the share subscription agreement for an investment of a subsidiary of Viet Thai International, one of Vietnam’s largest consumer marketing and multi-unit retail operators;
  • Acted for Hoan My Medical Corporation, Vietnam’s largest private healthcare network, on its offering of preference shares to its existing shareholders;
  • Acted for Classic Holidays, Australia’s largest privately-owned Resort and Club Management Company, in its acquisition of a Vietnamese foreign invested tour operator.

Publications

  • “Six Common Questions About Establishing a Fintech Company in Vietnam” – e27.co
  • “Vietnam See the Possibilities of Blockchain” – vneconomictimes.com
  • “Building Inward Remittances in Vietnam with Blockchain” – Vietnam Investment Review

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