Virginkar Comments on Telia’s No-Monitor FCPA Deal

28 September 2017 Law360 News
Partner Rohan Virginkar was quoted in “Telia’s No-Monitor FCPA Deal Could Be A Model,” published in Law360, about Swedish telecommunications firm Telia Co. AB’s recent settlement with the federal government over foreign bribery allegations. The nearly $1 billion settlement did not require the company to hire a corporate monitor, a requirement typically seen in other FCPA settlements. Telia did, however, terminate the employment of all personnel directly involved in the alleged misconduct.

Virginkar said the no-monitor aspect of the settlement reflects past Department of Justice pronouncements. “This case is tangible evidence of what the department has been saying for some time: Where a company has taken meaningful steps, the government won’t insist on a monitor,” he said.