BuckleySandler Partner David Krakoff on FCPA Trials, Corporate Voluntary Disclosures and Big Firm Refugees
March 13, 2012
Partner David Krakoff was interviewed in the 3/13/12 Corporate Crime Report article, "BuckleySandler Partner David Krakoff on FCPA Trials, Corporate Voluntary Disclosures and Big Firm Refugees."
Can it be true?
Corporations are fed up with voluntarily disclosing wrongdoing to the government?
And they may be ready to challenge the Justice Department and the Securities and Exchange Commission (SEC)?
We’ve been hearing this now for a number of months.
And so has David Krakoff.
Krakoff is a partner at BuckleySandler in Washington, D.C.
“The sense that I’m getting from talking to clients and companies – they are today considering in a more substantial way than before whether or not to go to trial and also whether or not to make a voluntary disclosure,” Krakoff told Corporate Crime Reporter in an interview last week.
“More companies are considering – voluntary disclosure may not get you what you want at all.”
“The implications of voluntary disclosure are extensive in a company. There is the impact on morale when you have to work with the government.”
But if you don’t disclose, under the whistleblower provisions of Dodd-Frank, an employee can blow the whistle and cash in.
“We haven’t seen the full implications of the whistleblower provisions,” Krakoff said. “I know from what I read there have been many whistleblower reports. But I don’t think we have seen yet the full implications of what Dodd-Frank means.”