Welcome back to the podcast, bribe, swindle, or steel.

I'm Alexandra Rogge, and for today's podcast, we're letting you listen in on a panel from the Trace Forum held earlier this month called

predictions from former prosecutors, what enforcement, bribery schemes, and compliance

will look like in 2020 and beyond. Our speakers today are Chuck DeRoss, a partner with Morrison

and Forster, Nat Edmins, a partner with Paul Hastings, Richard Grime, a partner with Gibson

Dun & Crutcher, and Tom Firestone moderates. He's a partner with Baker and McKenzie. Thank you very much, very much, very much, and thank you, Alexander, for organizing suspending this panel. I have to say, I'm honored and humble to be on this panel. This is really three of most distinguished practitioners in the field of FCPA defense and anti-corruption. So I think we're going to have a great panel. Let's get right into the first

question of the topic is what will enforcement look like in the year 2020? And I assume the

choice of the year 2020 is not by accident. That's obviously our next presidential election,

which raises the question of to what extent is FCPA enforcement political? To what extent is it driven and dependent on who's in the White House, what extent is FCPA enforcement political?

To what extent is it driven and dependent on who's in the White House, what party is in control of the country?

If you think about this, when the Republicans come in, there's sort of a standard assumption.

The Republicans come in, they're going to go soft on white collar enforcing corporate enforcement.

Some of us are old left to remember the Reagan years in which any trust enforcement,

environmental enforcement really went down.

Other kinds of enforcement went up.

I think there were a lot of expectations that was going to happen under the Trump administration.

We'd see a lot less FCPA university.

I don't think that's really happened.

We have legacy cases, partly because things just keep going, you know, the sort of machine that drives itself. But it raises the question of, is that true? Has enforcement decreased under the current administration?

And let's say we get a big change in 2020. Let's say we get President Elizabeth Warren.

Can we expect a corresponding increase in enforcement at that point?

I want to start, and I'll throw this out to all of our panel members point. I want to start, I'm going to throw this

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