Compliance Bits and Pieces for January 8

Here are some interesting stories from the past week:

BAE Bribe Suit Tossed On Appeal from The FCPA Blog

The decision is a big win for BAE (and all U.K. companies threatened with shareholder litigation in the U.S.). But it’s another setback for plaintiffs who bring claims based on allegations that, if true, would violate the Foreign Corrupt Practices Act.

Top Risks of 2010

If the 2009 top risks were first and foremost about developed states having their wits sufficiently about them to get through the financial crisis (with the US Congress leading the pack), as the world now emerges from recession the risks begin to shift to the challenges created by the emergence of a new global order–developed vs. developing states, the old unipolar system vs. the emerging non-polar one, and the old dominant globalized system of regulated free market capitalism vs. the growing strength of state capitalism.

Study debunks analyst recommendations myth

The study, conducted by Dr. Oya Altınkılıç of the University of Pittsburgh and Dr. Robert Hansen and Vadim Balashov of Tulane University, builds on a previous study by Altınkılıç and Hansen that had found analyst recommendations “tend to piggyback on the news” and are relatively “uninformative.”

Deducting Disgorgements from The FCPA Blog

The lesson is that FCPA-related disgorgements — which have reached hundreds of millions of dollars — may be deductible. It depends chiefly on what the SEC intends and how the agreement describing the disgorgement is written to reflect that intent.