The US Supreme Court has unanimously held that federal prosecutors can use the federal bank fraud statute, 18 U.S.C. § 1344, against offenders in cases where a bank is not the intended target of a fraud.
The US Court of Appeals for the Eleventh Circuit has provided useful guidance on the meaning of the term "instrumentality" as used in the Foreign Corrupt Practices Act ("FCPA"). In a landmark decision released on May 16, the court established the criteria for when companies with ties to foreign governments and their employees may be considered "foreign officials" for purposes of the anti-bribery law.
Just in time for the US Thanksgiving Day holiday, the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have jointly delivered the much anticipated Resource Guide to the U.S. Foreign Corrupt Practices Act (the Guide).