The US DoJ awards a company sentencing credit for implementing an effective compliance program after the launch of an investigation in the alleged forex cartel conspiracy (Barclays)

As spring gives way to summer, the first “green shoots” signaling the willingness of the Antitrust Division of the U.S. Department of Justice to credit compliance programs have emerged. For the first time ever, the Division has awarded a company sentencing credit for implementing an effective compliance program after the commencement of an investigation. Barclays PLC is the recipient, earning credit in connection with a plea agreement entered late last week in connection with its participation in the alleged forex cartel conspiracy. Barclays was one of five investment banks to plead guilty as part of an investigation into a conspiracy that purportedly sought to manipulate the price of U.S. dollars and euros exchanged in the foreign currency exchange spot

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Auteurs

  • US Department of Justice - Antitrust Division (Washington)
  • Ropes & Gray (Washington)

Citation

Jeremy Evans, Samer M. Musallam, The US DoJ awards a company sentencing credit for implementing an effective compliance program after the launch of an investigation in the alleged forex cartel conspiracy (Barclays), 19 mai 2015, e-Competitions May 2015, Art. N° 74651

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