"When does responding to political pressure conflict with fiduciary duty—and when does it betray the democratic values sustaining both markets and society?" Here's why companies must put values at center of corporate governance. news.bloomberglaw.com/legal-exchan...
Disney’s Jimmy Kimmel Flip Shows Why Values Matter for Governance
Opinion: Disney's decision to cancel Jimmy Kimmel's program, only to reinstate him days later, shows why companies must put values at the center of corporate governance.
news.bloomberglaw.com
![The US shouldn't give up on enforcement of anti-corruption and corporate criminal law, even if US Attorney General Pam Bondi makes it less of a priority at the Department of Justice.
In memos signed hours after she took office, Bondi directed the Foreign Corrupt Practices Act unit to focus on cases with a nexus to cartels and transnational criminal organizations, and she disbanded anti-kleptocracy teams and the National Security Division’s corporate enforcement unit.
The news alarmed some observers and practitioners, but others said they believed corporate enforcement would remain active and companies should remain mindful of complying with the law.
“This likely will impact the number of white collar-related cases that we see. It’s not going to make them go away, but it’s going to [have an] impact,” Alec Koch, a co-leader of the securities enforcement and regulation practice at the law firm King & Spalding, said in an interview with MLex. “Companies should still devote resources toward compliance, because you can’t assume there will be no enforcement, plus responsible companies want to operate in a lawful manner.”
There are multiple corruption cases pending before US federal courts and still others in the pipeline, but defense lawyers may look to the policy changes as an opportunity to resolve or seek a declination in those investigations, he said.
The FCPA, passed under President Jimmy Carter, was enacted in part because of the discovery in the mid-1970s of foreign bribes paid by US multinational corporations.
The law has been a model for countering corruption around the world, but the memo’s narrowed focus for enforcement risks allowing corrupt markets around the world to flourish — to the detriment of US business and national security interests, Transparency International US Executive Director Gary Kalman said in a statement.](https://cdn.bsky.app/img/feed_thumbnail/plain/did:plc:il7345tnmrhnzaufvgk5qfcx/bafkreic6sogttib4bohxiqbuu3rr4gnwi7qldoeq2udndietnofr2b7wea)
