On September 14, IBL Fellows and legal practitioners had the opportunity to hear from three distinguished panelists about the challenges global corporations face post Dodd-Frank at a Breakfast Roundtable hosted by Cleary Gottlieb Steen & Hamilton LLP and the Dennis J. Block Center for the Study of International Business Law. The panel was organized and moderated by Brooklyn Law School Centennial Professor of Law Roberta Karmel.
The first panel was led by David Becker, a partner in Cleary Gottlieb’s Washington D.C. office, and a former U.S. Securities and Exchange Commission General Counsel During his tenure, he played a central role in the Commission’s efforts to implement the Dodd-Frank Act. At the Roundtable he spoke about whistle-blowing and what it means for American businesses and the Securities and Exchange Commission.
The second panelist to speak was Katherine Choo, the Chief Investigative and Anti-Corruption Counsel of General Electric Company. She joined GE after serving as Assistant U.S. Attorney in the Southern District of New York, where she served as a Deputy Chief in the Criminal Division and Chief of the General Crimes Unit of the Office and specialized in the prosecutions of securities fraud and other white-collar offenses. She provided an overview of what compliance with the Foreign Corrupt Practices Act (FCPA) looks like within the structure of a multi-national global company like GE. She offered a detailed description of the various risks GE faces and the company’s efforts to maintain its books and records and implement its vigorous anti-corruption program that relies on strong internal controls. She also spoke to students about the range of potential employment opportunities in the area of FCPA compliance.
The third speaker was Edward F. Greene, a partner in the New York office of Cleary Gottlieb. Mr. Greene, also served as General Counsel at the Securities and Exchange Commission in addition to serving as its Director of the Division of Corporate Finance. He addressed the issue of “Too Big To Fail” and the need for strengthening the rule-of-law in supervision of international financial firms. “While current U.S. politics make a treaty framework difficult to achieve at present, key policymakers and market actors must continue to build and press the case,” he said. In particular, he suggested that an international resolution facility for banks was an important goal.