Article | June 30, 2026
FCPA Enforcement: Where the Bribery Actually Happened
FCPA enforcement trends analyzed by geography. Discover where bribery risk is concentrated and how it impacts global compliance, investigations and risk management.
June 26, 2025
At the CBV CONNECT 2025 Conference in Toronto, we had the privilege of presenting multiple panels, engaging with fellow business valuation professionals, and exploring the latest developments shaping the future of the industry.
We’ve compiled key takeaways from our time at CONNECT 2025 below, highlighting critical insights from our speaking engagements and the emerging trends we’re watching in the world of business valuation.
Aayush Mittal and Michael Moxley spoke on a panel about “Material Adverse Effects and Damages in Failed Merger Disputes,” a topic that continues to challenge courts, counsel, and companies alike. The session explored how MAE clauses are interpreted in practice, the legal and strategic considerations when invoking them, and the complex interplay between walk rights and damage remedies when deals fall apart. Understanding MAE clauses and their application has become essential knowledge for M&A practitioners, particularly in the post-COVID landscape, where buyers have attempted to walk away from deals due to performance declines.
Shalabh Gupta and Amran Nawaz presented “Valuations of Sports Teams on the Rise: A Tale of Two Continents.” They discussed how sports teams are increasingly viewed as assets for sophisticated investors, with valuations influenced by factors such as league structures, revenue distribution, financial regulations, and growing fan bases. The discussion explored recent marquee transactions, including the Washington Commanders and Boston Celtics, highlighting how investment from private equity and sovereign wealth funds is reshaping the investment landscape. The presentation also touched on trends in value drivers such as the growth of women’s sports, investment in multipurpose stadium infrastructure, and the rise of multi-team ownership.
Ivy Tse noted the impressive diversity of Chartered Business Valuators attending CBV CONNECT—ranging from business executives, legal professionals, and other industry leaders. This multidisciplinary mix not only enriched the dialogue but also created meaningful networking opportunities across sectors. We were thrilled to help shape this dialogue, with both Secretariat-led sessions garnering well-received feedback from attendees.
CBV CONNECT 2025 was a dynamic, knowledge-packed event, reflecting the exciting developments in the business valuation industry—from new tools and technologies to new approaches for navigating evolving global standards. Connect with us today to learn more about how these new and emerging developments could impact your organization.
FCPA Enforcement: Where the Bribery Actually Happened
FCPA enforcement trends analyzed by geography. Discover where bribery risk is concentrated and how it impacts global compliance, investigations and risk management.
Secretariat is pleased to share that 56 of our experts have been recognized in the Lexology Index 2026 Construction report for their outstanding work on complex construction disputes and claims around the world. With 12 experts named as Global Elite Thought Leaders—the report’s most exclusive ranking, achieved by only 5% of listed professionals—Secretariat has earned the No. 1 spot in this category for the second year in a row among more than 750 ranked firms.
Eric Poer, a Managing Director in Secretariat’s Global Investigations & Disputes practice, was retained by the U.S. Securities and Exchange Commission (SEC) to serve as their forensic accounting expert in a high-profile securities fraud dispute.