Despite internal safe guards and the best efforts of mining companies and their executives, criminal investigations can arise in relation to operations at home or abroad. How a company responds to a criminal investigation or to possible internal criminal misconduct, can have a serious legal and reputational impact, particularly since changes to Canadian law have made it easier for prosecutors to convict corporations and their officers of criminal wrongdoing. Today at Fasken Martineau’s PDAC 2016 seminar, Peter Mantas and Norm Keith of Fasken Martineau and Sandy Boucher of Grant Thornton discussed how proactive a mining company should be during the critical period after suspected criminal wrongdoing is discovered.
There were three FCPA enforcement actions brought or announced in August 2015.
BNY Mellon became the first – of what is expected to be several financial services companies – to pay millions ($14.8 million to be precise) in an SEC enforcement action based on its alleged internship practices. This flagged various issues to consider from the enforcement action including that it was the first SEC FCPA enforcement ever not to include allegations or findings of books and records violations. This recent BNY Mellon enforcement action highlight why the meaning of “foreign official” matters.