Federal regulators, legislators, lobbyists, lawyers, and other legal experts convened in Washington, DC on 6 December 2012 for a summit organized by The National Law Journal and Legal Times. As part of the event, NERA hosted a workshop entitled The Economics Advantage: Using Experts to Gain the Upper hand in Regulatory Proceedings.
The workshop began with a presentation by Dr. Reena Aggarwal -- the Robert E. McDonough Professor of Business Administration and Professor of Finance, Georgetown University and Director of the Center for Financial Markets and Policy -- entitled "The Emergence of Corporate Governance-Related Securities Litigation."
Next, former NERA Senior Vice President Dr. Elizabeth Becker presented "Successfully Navigating OFCCP Adverse Impact Investigations." The Office of Federal Contract Compliance Programs (OFCCP) has been particularly active in investigating federal contractors' hiring practices to ensure compliance with equal employment opportunity requirements. Dr. Becker discussed how to anticipate the economic and statistical approaches used by the OFCCP in the eventuality of an investigation.
The workshop concluded with a presentation by NERA Senior Vice President Dr. Patrick Conroy entitled "Economic Analysis of Damages under the Foreign Corrupt Practices Act (FCPA)." Given stricter enforcement and increasing damages, lawyers require more precision in evaluating the benefits and costs of bribery. Dr. Conroy discussed a number of factors that potentially make the gain from a bribe, and thus the resulting fine, significantly different from a simple calculation of project profits.
Learn more: The 2012 NLJ Regulatory Summit.