Whether a particular entity constitutes an “instrumentality” under the FCPA requires a fact-specific analysis of an entity’s ownership, control, status, and function. This is a non-exhaustive list of factors to determine whether the government “controls” an entity: the entity’s formal designation; whether the government has a majority interest; the government’s ability to hire and fire principals of the entity; if the entity’s profits go directly to the government’s fiscal accounts; if the government funds the entity should it fail to break even.
AML Whistleblower Act Rulemaking: Key Recommendations for FinCEN’s Final Regulations
In a 2023 letter to Attorney General, Secretary of the Treasury, and FinCEN Director, Kohn argued that the new AML whistleblower regulations must not only replicate the existing SEC and…
