On February 12, 2015, the New York fashion week begins. Unlike other industries, the fashion industry has not yet been targeted by the US enforcers. But that doesn’t mean that the industry is free of corruption risks and immune from potential FCPA enforcement actions. Thomas Firestone and Lina Braude (Baker & McKenzie Washington DC) have published an article on the FCPA Blog which highlights the key risks for the fashion industry and provides recommendations on how to mitigate these risks. The main risks are: 1. Gifts and Hospitality 2. Customs and Logistics 3. Real Estate 4. Trade Based Money Laundering 5. Forced Labor in the Supply Chain. Click here to read the full article.
Tom Firestone is Co-chair of the firm's North American Government Enforcement practice and is a member of the Firm's Global Compliance & Investigations Steering Committee. He represents clients in matters involving anti-corruption and the US Foreign Corrupt Practices Act (FCPA), internal investigations and transactional due diligence. Prior to joining the Firm, he spent 14 years at the US Department of Justice. He worked as an Assistant US Attorney in the Eastern District of New York where he prosecuted transnational organized crime cases. He also worked as Resident Legal Adviser and Acting Chief of the Law Enforcement Section at the US Embassy in Moscow. In the latter capacity, he facilitated US-Russian law enforcement cooperation, assisted the Russian government in drafting new criminal legislation, advised the US government on policy issues related to criminal justice in Russia and twice won the US State Department Superior Honor Award.
Lina Braude is a partner in Baker McKenzie's Washington office and a member of Baker McKenzie's North America Compliance & Internal Investigations practice group. She advises clients on corporate compliance issues, including the US Foreign Corrupt Practices Act and US money laundering laws and their application to the activities of multinational companies in emerging markets. Ms. Braude began her legal career in Kazakhstan in 1995 and has an in-depth understanding of the cultural and political challenges of doing business in developing countries, especially in the former Soviet Union. She earned her LL.M. from the University of California, Berkeley School of Law in 1999, and has been admitted to practice in New York, the District of Columbia and Kazakhstan.