Throughout the week over at Securities Docket, I highlight the most interesting columns and blog posts from around the web on the subjects of SEC enforcement and securities litigation. Here is a digest of my picks for the week ending January 21:

Remedial Compliance Programs: A Key Ingredient in the Enforcement Recipe

FCPA Blog | Ryan McConnell and Charlotte Simon | Jan 21, 2011

Over 90% of the deferred prosecution (DPA) and non-prosecution (NPA) agreements entered into in 2010 contained compliance features, an almost 40% increase since 2005, according to our latest research. The rise of compliance reforms in DPAs and NPAs has been rapid. In 2005 and 2006, only 50% or fewer of all DPAs and NPAs contained compliance measures.

What Can Your CEO Do for Your FCPA Compliance Program?

FCPA Compliance and Ethics Blog | Thomas Fox | Jan 21, 2011

So what can your Chief Executive Officer (CEO) do for your Foreign Corrupt Practices Act (FCPA) compliance program? It turns out quite a bit. Both the US Sentencing Guidelines, which are used as the basis for FCPA compliance programs, and the Consultative Guidance, which is the basis for the adequate procedures defense under the UK Bribery Act, make it clear that top company leadership on compliance and ethics is a key component of any successful anti-bribery and anti-corruption program.

The SEC's First Non-Prosecution Agreement

Harvard Law School Forum on Corp. Gov. and Fin. Reg. | Wayne Carlin | Jan 20, 2011

In explaining the decision to accept a non-prosecution agreement rather than bring an enforcement action against the company, the SEC identified the following factors: (1) the “relatively isolated nature” of the unlawful conduct; (2) the company's “prompt and complete” self-reporting of the misconduct to the SEC; and (3) the company's “exemplary and extensive” cooperation in the inquiry, including undertaking a “thorough and comprehensive” internal investigation.

For Wall Street, Antibribery Inquiry Is Cause for Concern

DealBook | Peter Henning | Jan 18, 2011

The Securities and Exchange Commission's inquiry into Wall Street's dealings with sovereign wealth funds for possible violations of the Foreign Corrupt Practices Act is another expansion in the use of the antibribery law. Over the past few years, the act has been used more frequently against multinational companies, and there is no reason why financial firms should avoid scrutiny.

The UK Anti-Bribery Act: Let's Cool Down the Hysteria

FCPA Blog | Michael Volkov | Jan 18, 2011

The new year brings even greater concerns for businesses around the world – the UK Anti-Bribery Act is scheduled to become effective in April 2011. Fear of the new Act is on the rise. Contrary to the current hysteria, when all is said and done, the UK enforcers will act reasonably, build a track record and focus on egregious cases of bribery, with the focus on UK-based companies. While the law literally can be stretched to cover a number of far-out scenarios, commentators and law firm marketing agents forget about the most important factor – prosecutorial discretion. A careful look at the issues and a fair consideration of the risks will help to reduce anxiety and focus organizations on what really needs to be done – a commitment and execution of real compliance.

The Bribery Act and the review by No. 10: Will pigs fly? We don't think so.

thebriberyact.com | Barry Vitou and Richard Kovalevsky | Jan 17, 2011

None of this looks like there will be any significant change as a result of the Growth Review. We like many others hope that the guidance will address some of the areas where additional clarity is required.... We are told to await guidance which is expected at the end of the month. We have been told some of the delay may be as a result of the requirement for ministerial sign off… Whatever happens it is hard (if not impossible) to see how the UK government would implement a law which is weaker than the US Foreign & Corrupt Practices Act where fines now routinely run into tens and in some cases hundreds of millions of dollars.

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