ECI board member, Dr. Bradley Bondi, was recognized by the Burton Awards for Legal Achievement, as one of the thirty-five best law firm writers of 2012. The Burton Awards for Legal Achievement is a program that runs in association with the Library of Congress. The winners are chosen from the entries submitted by the nation’s 1,000 largest and most prestigious law firms. Dr. Bondi won for his article titled SEC Launches FCPA Probe of Financial Services Industry’s Interactions with Sovereign Wealth Funds.The following is an excerpt of the article:
The U.S. Securities and Exchange Commission (“SEC”) has, to our understanding, delivered letters of inquiry to at least 10 hedge funds, banks, and private equity firms requesting information about the firms’ interactions with sovereign wealth funds (“SWF”). That list may expand to include other financial institutions. The investigation appears to be driven by: (i) the SEC’s opinion that SWF employees are foreign government officials for purposes of the Foreign Corrupt Practices Act (“FCPA”); and (ii) reports that certain hedge funds, banks, and private equity firms may have paid bribes to those government officials to attract or retain business.