In simple terms, an investigation is all about finding the facts. This includes the identification of the who, what, where, when, why and how. But the reality for a company and their legal counsel to find the answers to these questions is usually complex, especially when a regulator is involved. While the underlying conduct that has caused the regulatory investigation to commence is a key point in deciding what action a regulator will take against a company, so too are self-reporting, cooperation and remedial efforts. This article deals with cooperation, and specifically, considerations for a company and their legal counsel in conducting a defendable internal investigation.
Whether the company is responding to a regulator for alleged breaches of anti-corruption laws like the US Foreign Corrupt Practices Act of 1977 (FCPA) and the UK’s Bribery Act 2010, sanctions, money laundering or violations of other white-collar crime regulatory concerns, cooperation is effectively built on the company’s response to the regulator about its internal investigation methodology and protocol.