James Tillen and Arooshe Giroti* authored "Cartel Risk: What Are Companies Not Accounting For?" in The Review of Securities & Commodities Regulation. The authors examine an Executive Order establishing the "total elimination of cartels" as an executive policy and the growing legal and compliance risks for companies with potential interactions with transnational cartels amid an "aggressive enforcement posture towards these transnational groups and corporations that may have interactions with them." Tillen and Giroti* also assess several laws identified by the U.S. government as central to its enforcement strategy, including the Anti-Terrorism Act, sanctions programs administered by the Office of Foreign Assets Control (OFAC), the Money Laundering Control Act, and the Foreign Corrupt Practices Act (FCPA). The authors highlight how the FCPA accounting provisions, "which require public companies to maintain accurate books and records and effective internal controls, may be the law best equipped to prosecute corporations with potential cartel interactions."

*Former Miller & Chevalier attorney