shakespeare and the tragedies of foreign agents, distributors, consultant, freight forwarders and...
DESCRIPTION
A review for the due diligence on and management of third party business relationships.TRANSCRIPT
![Page 1: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/1.jpg)
William Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs
Histories as the Guide To The Road Ahead
Thomas FoxIQPC-International Compliance and Ethics in Oil & Gas 2009London-March 30 and 31, 2009
![Page 2: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/2.jpg)
Legal Disclaimer
The views stated herein are solely those of the author.
![Page 3: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/3.jpg)
For Want of a Nail the Shoe was Lost For Want of a Shoe the Horse was Lost For Want of a Horse the Battle was Lost For Want of a Battle the Kingdom was Lost
![Page 4: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/4.jpg)
Romeo and JulietAgents
“For never was a story of more woe / Than this of Juliet and her Romeo”
Willbros pays $22MM fine for payment of bribes in Nigeria
![Page 5: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/5.jpg)
Hamlet-Distributors
“Something is Rotten in Denmark”
AGA pays $2MM for improper payments made by independent distributor
![Page 6: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/6.jpg)
King Lear and the FoolJoint Ventures
“And I'll to bed at noon”
Halliburton pays $382 MMon behalf of KBR, which createdthe TSKJ Joint Venture to fund ‘Consulting Agents’ in Nigeria
![Page 7: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/7.jpg)
Macbeth and the Three WitchesFreight Forwarders
“Fair is foul, and foul is fair”
Vetco Gray pays $26MM for 268 separate bribes paid by the Freight Forwarder Panalpina for shipments into Nigeria.
![Page 8: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/8.jpg)
Othello and IagoConsultants
“I pray you, in your letters, When you shall these unlucky deeds relate”
Baker Hughes pays $44MM for payments made to Isle of Man
“Consulting Firm” mandated by KazakOil officials
![Page 9: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/9.jpg)
Baker Hughes pay $44MM for payments made to Isle of Man “Consulting Firm” mandated by Kazak Oil officials
Othello-I pray you, in your letters,
When you shall these unlucky deeds relate
Consultants
Vetco Gray pays $26MM for 268 separate bribes paid by freight forwarders Panalpina in Nigeria.
Macbeth-Fair is foul, and foul is fair: Hover through the fog and filthy air Freight
Forwarders
Halliburton pay $382 MM for KBR which created the TSKJ Joint Venture to fund “Consulting Agents” in Nigeria; KBR pays $20MM
King Lear-And I'll to bed at noon Joint Ventures
AGA pays $2MM for improper payments made by independent distributor
Romeo and Juliet-For never was a story of more woe / Than this of Juliet and her Romeo
Distributors
Willbros pays $22MM for payment of bribes in Nigeria
Hamlet-something is rotten in Denmark Agents
The TragedyThe PlayThe Intermediary
![Page 10: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/10.jpg)
Macbeth (Redux)
On January 30, 2009, Gerald Hodgkins,Assistant Director of the Divisionof Enforcement at the SEC, was asked to provide hispersonal predictions for 2009:
• continued high levels of voluntary disclosure of potential FCPA violations by companies; • continued focus on specific industries and industry-wide investigations; • continued imposition of large fines and disgorgement, alongside cases with more modest numbers; • more actions brought against individuals; • continued use of compliance monitors;
• and increased international cooperation.
![Page 11: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/11.jpg)
Richard II
• Risk Based Compliance
Opinion Release 08-02
AON Policy
![Page 12: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/12.jpg)
Alec Guinness as Richard III
• Minimize your Risk and How Much is Enough
• US Gov Resources• Other Public Resource• Trace International• DOJ Opinion Release Procedure
![Page 13: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/13.jpg)
Henry IV
Structure Post-Contractsafeguards
• Audit Rights and DOJ Opinion 04-02
• Contacts and Reporting
![Page 14: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/14.jpg)
Henry V
• Joint Venturesor do you really want to go back to Francealone
6. Majority Controlled7. Minority Participation8. Existing JVs
![Page 15: Shakespeare and the Tragedies of Foreign Agents, Distributors, Consultant, Freight Forwarders and JVs](https://reader033.vdocuments.us/reader033/viewer/2022052911/559ec46d1a28ab87578b45b2/html5/thumbnails/15.jpg)
Shakespeare’s London and President Obama
Don’t Let the Traffic Rush You