Steven E. Fagell

January 20, 2021, Covington Alert

Based on the top-line numbers, 2020 was a banner year for U.S. Foreign Corrupt Practices Act (“FCPA”) enforcement. We saw several record-setting fines as U.S.-recovered penalties from corporate resolutions totaled more than $2.75 billion—the highest on record; and a new company entered the all-time U.S. recoveries Top 10 resolutions list. While some commentators ...

December 14, 2020, Covington Alert

On December 10th, the Antitrust Division of the U.S. Department of Justice announced its first criminal indictment targeting an alleged conspiracy to reduce employee wages. The DOJ charged the former owner of a therapist staffing company with conspiring to reduce pay rates for healthcare worker contractors, but did not charge the company itself. Specifically, ...

November 2, 2020

WASHINGTON—Law360 has named three Covington lawyers as MVPs. The awards single out lawyers from across numerous practice areas based on their success in high-stakes litigation, complex global matters, and record-breaking deals.   The Covington lawyers recognized as Law360 MVPs are:   Jay Carey was recognized for helping data services giant Optum successfully ...

September 29, 2020, Covington Alert

Last week, a divided Securities and Exchange Commission amended its whistleblower rules, hailing the changes as adding “clarity, efficiency and transparency to its successful whistleblower program.” Although the agency made a large number of changes to the program, the amendments should not have a significant overall effect on SEC whistleblower activity, which ...

July 21, 2020, Covington Alert

On July 17, 2020, Commonwealth Edison Company (“ComEd”), an Illinois utility company, entered into a deferred prosecution agreement (the “DPA”) with the U.S. Department of Justice (“DOJ” or the “Department”) to resolve allegations of bribery under 18 U.S.C. § 666, which prohibits theft or bribery concerning programs receiving federal funds. Aside from the ...

July 6, 2020, Covington Alert

On July 3, 2020, the U.S. Department of Justice’s (“DOJ” or the “Department”) Criminal Division and the U.S. Securities and Exchange Commission’s (“SEC”) Enforcement Division quietly released A Resource Guide to the U.S. Foreign Corrupt Practices Act, Second Edition (the “Second Edition”). The first edition of the Resource Guide (the “First Edition”) was ...

June 24, 2020, Covington Alert

On June 22, 2020, in Liu v. SEC, the U.S. Supreme Court, by an 8-1 majority, upheld the SEC’s decades-old practice of seeking disgorgement of ill-gotten gains from securities law violators in civil enforcement actions filed in federal district court. The SEC’s victory, however, was tempered by the Court’s insistence that disgorgement must be strictly limited to ...

June 3, 2020

El 1 de junio de 2020, la División Penal del Departamento de Justicia de los Estados Unidos (“DOJ” o el “Departamento”) publicó una versión actualizada de su documento Evaluación de los programas de compliance corporativo (la “Guía”), que sirve como referencia para los fiscales a la hora de evaluar los programas de compliance corporativo en el contexto de las ...

April 3, 2020, Covington Alert

COVID-19 (hereinafter, “the coronavirus”) is causing significant interruptions to the legal system across the United States, with implications for actual and potential subjects in government investigations and defendants in enforcement actions. This client advisory analyzes the pandemic’s potential effects on the default statute of limitations for federal crimes ...

March 31, 2020, Covington Alert

On March 30, 2020, the inspectors general of several major agencies selected the Department of Defense Inspector General, Glenn Fine, to lead a newly created federal oversight entity that will investigate waste, fraud, and abuse in connection with the massive new coronavirus economic relief legislation. The inspectors general were exercising new authority ...

January 30, 2020, Covington Alert

It has been another strong year in anti-corruption enforcement, with 2019 meeting or beating the high-water mark for enforcement across a number of measurements.

December 17, 2019, Covington Alert

On Friday, December 13, Principal Deputy Attorney General David Burns of the Justice Department’s (“DOJ’s” or “the Department’s”) National Security Division (“NSD”), announced a new DOJ policy for business organizations that voluntarily disclose potential criminal violations of the U.S. export controls and sanctions laws to NSD’s Counterintelligence and Export ...

August 12, 2019, Law360

May 10, 2019, Covington Alert

On April 30, 2019, the U.S. Department of Justice (“DOJ”) Criminal Division released an updated version of the Evaluation of Corporate Compliance Programs (the “Guidance”), which serves as a reference for prosecutors in assessing corporate compliance programs in the context of DOJ investigations.

April 3, 2019, Covington Alert

In March 2019, the U.S. Department of Justice introduced several changes to the Foreign Corrupt Practices Act (“FCPA”) Corporate Enforcement Policy (“the Policy”).  The Policy, originally incorporated into the Justice Manual in November 2017, outlines the Department’s position on mitigation credit that companies may receive for voluntary self-disclosure, full ...

April 3, 2019, Covington Alert

In March 2019, the U.S. Department of Justice introduced several changes to the Foreign Corrupt Practices Act (“FCPA”) Corporate Enforcement Policy (“the Policy”). The Policy, originally incorporated into the Justice Manual in November 2017, outlines the Department’s position on mitigation credit that companies may receive for voluntary self-disclosure, full ...

Q1 2019, Covington Alert

It was business as usual for FCPA enforcement in 2018. The U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) collected a total of $1 billion from seventeen corporate defendants, including through their share of two high-value, multi-jurisdictional enforcement actions. DOJ also announced thirteen new FCPA prosecutions ...

Winter 2019, Covington Alert

It was business as usual for FCPA enforcement in 2018. The U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) collected a total of $1 billion from seventeen corporate defendants, including through their share of two high-value, multi-jurisdictional enforcement actions. DOJ also announced thirteen new FCPA prosecutions ...

September 28, 2018, Covington Advisory

On August 24, 2018, the Second Circuit issued its much-anticipated decision in U.S. v. Hoskins.Emphasizing on multiple occasions that Congress defined “with surgical precision” who could be liable under the anti-bribery provisions of the Foreign Corrupt Practices Act (“FCPA”), the court held that the government may not employ conspiracy or accomplice liability ...

July 19, 2018, Covington Alert

Last week, in SEC v. Cohen, a federal district court dismissed an SEC enforcement action, in its entirety, on statute-of-limitations grounds. Most notably, citing the Supreme Court’s 2017 Kokesh decision, the court held that the injunction sought by the SEC in the case "would function at least partly to punish Defendants and is therefore a penalty" for purposes ...

June 6, 2018, PLI Course Handbook, Internal Investigations

March 7, 2018

WASHINGTON—Global Investigations Review and Who’s Who Legal: Investigations have recognized Covington’s White Collar Defense and Investigations Practice Group in its 2018 report. The publication named Covington partners Tammy Albarrán and Steven Fagell to the inaugural Future Leaders issue, a ranking of “the most eminent lawyers in the field under 45,” and ...

February 23, 2018, Covington Alert

On Wednesday, the Supreme Court issued its much-anticipated decision in Digital Realty Trust, Inc. v. Somers. Ruling 9-0, the Court held that the Dodd-Frank Act prohibits retaliation against whistleblowers only if they reported suspected wrongdoing directly to the SEC.

February 2, 2018, Law360

Covington was named a 2017 White Collar Practice Group of the Year by Law360. Commenting on the firm's representation of Takata Corp. in its highly sensitive $1 billion deal with the U.S. Department of Justice over air bag inflators, Steven Fagell says, "It was a very sensitive and very complicated matter, and there were other regulators that had taken an ...

January 25, 2018, Covington Advisory

Our message this year is simple: FCPA enforcement is here to stay. Despite pre-election statements to the contrary, various senior officials in the U.S. Department of Justice (“DOJ”) and U.S. Securities and Exchange Commission (“SEC”) have, over the past year, consistently reaffirmed DOJ’s and the SEC’s commitment to FCPA enforcement.

January 2018, The American Lawyer

The American Lawyer named Covington a finalist for White Collar/Regulatory Litigation Department of the Year and highlights Eric Holder, Steven Fagell, Lanny Breuer, Nancy Kestenbaum, and Mythili Raman in its profile.

December 13, 2017, Covington Alert

During his keynote speech at the 34th International Conference on the Foreign Corrupt Practices Act (“FCPA”), U.S. Deputy Attorney General Rod J. Rosenstein announced a new FCPA Corporate Enforcement Policy (the “Policy”), which is now incorporated in the United States Attorneys’ Manual (“USAM”).

December 13, 2017, Covington Alert

During his keynote speech at the 34th International Conference on the Foreign Corrupt Practices Act (“FCPA”), U.S. Deputy Attorney General Rod J. Rosenstein announced a new FCPA Corporate Enforcement Policy (the “Policy”), which is now incorporated in the United States Attorneys’ Manual (“USAM”).   According to Deputy Attorney General Rosenstein, the goal of the ...

June 7, 2017, Covington Alert

On Monday, in Kokesh v. SEC, the Supreme Court handed a major loss to the Securities and Exchange Commission, unanimously holding that SEC claims for disgorgement of ill-gotten gains are subject to a five-year statute of limitations. The Kokesh decision also calls into question the proper measure of disgorgement (e.g., gross versus net profits) and even whether ...

June 7, 2017, Covington Alert

On Monday, in Kokesh v. SEC,1 the Supreme Court handed a major loss to the Securities and Exchange Commission, unanimously holding that SEC claims for disgorgement of ill-gotten gains are subject to a five-year statute of limitations. For decades, the SEC had taken the position that its disgorgement claims could reach back indefinitely, and recently obtained a ...

Winter 2017, Covington Alert

Anti-corruption enforcement is at a crossroads. In many respects, global anti-corruption enforcement has never been more active. The U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) in 2016 collected a total of $2.41 billion through FCPA enforcement actions against 27 corporate defendants, including through their share ...

January 27, 2017, Law360

Law360 selected Covington’s International Trade practice as a “Practice Group of the Year,” profiling the team’s involvement in billions of dollars worth of transactions, Foreign Corrupt Practices Act investigations, and sensitive national security trade reviews. “Our practice in general is distinguished by the sheer number of former senior enforcement officials ...

January 13, 2017, Covington Alert

Over the past few months, the agencies responsible for criminal and civil enforcement of U.S. export control and economic sanctions laws have implemented a number of important changes in their enforcement practices. In October 2016, the U.S. Department of Justice (“DOJ”), National Security Division (“NSD”) published guidance on voluntary self-disclosures of ...

September 30, 2016, Covington Alert

The U.S. Securities and Exchange Commission (SEC) continues to aggressively pursue companies using severance and other employment agreements that could be perceived to discourage employees from reporting possible securities law violations. Three enforcement actions this past summer demonstrate the need for companies to proactively review and give consideration ...

August 30, 2016, Global Investigations Review

Global Investigations Review highlights Covington’s role in helping AB InBev secure a declination notice from the U.S. Department of Justice in an FCPA investigation regarding the company’s business partners in India. The Covington team was led by Steven Fagell, who worked with Lanny Breuer, Jason Criss, and Benjamin Haley on the matter.

August 22, 2016

WASHINGTON—Global Investigations Review has named Covington’s FCPA practice among Washington’s “elite,” the highest tier in its “Washington DC’s FCPA Bar” survey. In its profile, GIR notes Covington’s “deep bench of high-level former prosecutors,” including former U.S. Attorney General Eric Holder; the last two former heads of the Criminal Division at the ...

May 12, 2016

WASHINGTON, DC — Covington advised China Molybdenum Co., Ltd (“CMOC”) on certain aspects of its agreement to acquire Freeport-McMoRan Inc.’s indirect 56% Interest in Tenke Fungurume for $2.65 billion in cash plus contingent consideration of up to $120 million. CMOC is primarily engaged in the mining, processing and marketing of mineral products. The acquisition ...

April 21, 2016, Covington Alert

On April 5, 2016, the United States Department of Justice (“DOJ”), through the Criminal Division’s Fraud Section, announced a one-year Foreign Corrupt Practices Act (“FCPA”) enforcement pilot program (the “Pilot Program”) intended to motivate companies to voluntarily disclose FCPA-related misconduct and increase transparency around the Fraud Section’s approach ...

April 6, 2016, Global Investigations Review

Steven Fagell is quoted in this GIR article regarding a recent Court of Appeals decision that a lower court overstepped its authority by rejecting a DOJ settlement with Dutch aerospace company Fokker. According to Fagell, “The ruling will likely clip the wings of any US district judge looking to second-guess the Justice Department's charging decisions in ...

March 16, 2016, Global Business Conference – Guidance for US Businesses Working Globally

February 9, 2016, Panelist, Global Investigations Review GIR LIVE DC

Winter 2016, Covington Advisory

September 11, 2015, Covington Alert

May 19, 2015, 17th Annual New York Conference on the Foreign Corrupt Practices Act

April 1, 2015, Covington E-Alert

Winter 2015, Covington Advisory

February 12, 2015, Global Arbitration Review

Covington's Steve Fagell is quoted regarding the impact of a judge’s decision to reject the US DoJ’s deferred prosecution agreement with Dutch aerospace company Fokker. "Judge Leon and Judge Gleeson’s diverging view on the role of the judiciary in the settlement process open up questions on “how any judge will exercise his or her discretion, and if they are ...

January 13, 2015, Covington E-Alert

October 1, 2014, Covington E-Alert

Q3: 2014, Ethisphere Executive Briefing, Volume 1

Panelist, 6/24/14, Practicing Law Institute

2014, Practising Law Institute

May 23, 2014, Covington Advisory

May 12, 2014, The National Law Journal

Covington's Steve Fagell is quoted regarding federal law that states it is a crime to "knowingly and willfully" give false statements in any matter under federal jurisdiction. The Justice Department has announced that to make the case that a defendant acted willfully, the government must prove that he or she knew the statement was unlawful.  "Steven Fagell of ...

Panel Moderator, 4/28/2014, ACI’s FCPA & Anti-Corruption for the Life Sciences Industry Conference

February 3, 2014, Law360

January 2014, Covington Advisory

August 6, 2013, Compliance Week

Steven Fagell was quoted in this article.

July 29, 2013, Covington Advisory

July 8, 2013, Law360

May 3, 2013, Neither Admit Nor Deny: Corporate Crime in the Age of Deferred Prosecutions, Consent Decrees, Whistleblowers & Monitors

April 26, 2013, Covington E-Alert

February 2013, Covington Advisory

November 27, 2012, Compliance Week

Steven Fagell was interviewed for this article.

November 19, 2012, National Law Journal

Steven Fagell was quoted in this article which discussed the release of the DOJ and SEC Resource Guide to the FCPA.

November 16, 2012, Law360

November 2012, Covington Advisory

August 22, 2012, Covington E-Alert

July 12, 2012, Covington Advisory

July 2012, Covington E-Alert

April 25, 2012, Anti-Corruption China Summit

February 2012, Covington E-Alert

Q4 2012, Corporate Board Member

Steven Fagell was interviewed for this article.

2012, Main Justice/FTI

Steven Fagell was quoted in this white paper.

October 14, 2011, Covington Advisory

October 10, 2011

WASHINGTON, DC, October 10, 2011 — The head of the UK’s Serious Fraud Office, the agency responsible for enforcing the UK Bribery Act, warned corporations last week that the SFO is actively pursuing cases in which foreign corporations have undercut UK companies through corrupt actions in other countries. “What we are actively looking for is a case where a ...

September 20, 2011, West LegalEdcenter Webinar

July 2011, Covington E-Alert

June 23, 2011, Covington & Burling Webinar

June 6, 2011, West LegalEd Center

June 2, 2011, Covington Advisory

May 20, 2011, Covington Advisory

March 28, 2011, Main Justice Webinar

February 17, 2011, West LegalEd Center and Ethisphere

January/February 2011, The Corporate Governance Advisor

January 2011, 4th Annual Anti-Corruption Asia Congress

January 24, 2011, Covington E-Alert

January 10, 2011, Main Justice

Steven Fagell participated in an interview for this piece.

January 2011, Covington E-Alert

November 8, 2010, Covington Advisory

November 5, 2010, Covington E-Alert

November 4, 2010, MAPI Manufacturer's Alliance Ethics and Compliance Council

October 27, 2010, Corporate Crime Reporter

Steven Fagell participated in this interview.

October 26, 2010, White Collar Law360

October 20, 2010, Covington E-Alert

October 8, 2010, Compliance Week News Podcast

Steven Fagell participated in this interview.

September 23, 2010, Am Law Litigation Daily

Steven Fagell participated in a Q&A.

September 1, 2010

WASHINGTON, DC, September 1, 2010 — Covington & Burling LLP is pleased to announce that Steven Fagell, most recently the Deputy Chief of Staff and Counselor to the Assistant Attorney General of the Criminal Division at the U.S. Department of Justice, has rejoined the firm as a partner. Mr. Fagell will practice in the firm’s litigation group, with a particular ...

10/1/2008

WASHINGTON, DC, October 1, 2008 — Covington & Burling LLP today announced that 12 of its lawyers have been elected to the firm’s partnership. These new partners are resident in four of the firm’s offices and practice in the litigation, corporate/tax, and regulatory fields. Timothy Hester, chair of the firm’s management committee, commented: “These young and ...