On April 7, 2022, legislative proposal № 102053-8[1] that provides amendments to the Criminal Code of the Russian Federation establishing responsibility for the implementation of sanctions adopted against the Russian Federation within the country was submitted to the State Duma of the Russian Federation for consideration.
On June 25, 2020, pharma giant Novartis AG and two of its subsidiaries agreed to pay the Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) $346.7 million in penalties and disgorgement to resolve FCPA offenses in Greece, Vietnam and South Korea. This settlement highlights that, irrespective of economic downturns various countries are experiencing or a pandemic gripping the world, the FCPA will continue to be enforced by the relevant authorities.
The Russian media is increasingly aware of the news about the initiation of criminal prosecution by enforcement agencies against the top management of large companies due to the qualification of their actions of transferring capital to foreign jurisdictions as illegal (especially in countries with special conditions for doing business for foreign companies).
The past decade has seen a significant increase in the implementation and enforcement of anti-corruption legislation around the world. Whether your team is implementing a company-wide anti-corruption compliance code or advising management on a proposed overseas investment, it is imperative that legal functions within organizations understand how relevant anti-corruption laws apply to and inform the way in which they conduct their business.
Tatyana Nozhkina, Partner at EPAM, has become Head of the firm's Criminal Law practice in St. Petersburg.
CEE Legal Matters publishes an artcile by Victoria Burkovskaya and Tatyana Nozhkina.
Russia’s investigators will be able to obtain statements on bank transactions and accounts held by companies and individual entrepreneurs, as well as data on operations, accounts, and deposits by individuals, only on the basis of a court order. Russian President Vladimir Putin signed the amendment into law at the end of June. Both chambers of parliament had approved the bill.
EPAM has announced a round of promotions at its Moscow office.
CIS law firm EPAM has announced five promotions to its team, including two new partners.