All Aerospace & Defense articles – Page 2
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Article
DOJ declines to prosecute Safran over alleged FCPA violations
The U.S. Department of Justice informed French aircraft equipment manufacturer Safran that the company would not face prosecution regarding alleged bribes paid by employees at two subsidiaries to a China-based consultant.
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Article
Leidos Holdings under investigation for alleged FCPA violations
Leidos Holdings, a Virginia-based information technology, engineering, aerospace, and defense firm, disclosed it is under investigation by federal law enforcement for alleged violations of the Foreign Corrupt Practices Act.
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Premium
ESG Summit: Adapting businesses should look beyond what is financially material
Christopher Geiger, vice president of internal audit and enterprise risk at Lockheed Martin, explained how businesses must form resilience as they prepare for future risks regarding environmental, social, and governance during CW’s virtual ESG Summit.
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Article
Boeing fined $200M for material misstatements on fatal plane crashes
Boeing agreed to pay $200 million to settle charges laid by the Securities and Exchange Commission that it misled investors regarding what caused two crashes of 737 MAX airplanes in 2018 and 2019 that killed 346 people.
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Article
Aerojet Rocketdyne to pay $9M in cybersecurity whistleblower case
Aerojet Rocketdyne has agreed to pay $9 million to resolve allegations raised by a whistleblower that the aerospace and defense manufacturer misled the federal government regarding its compliance with cybersecurity requirements in certain contracts.
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Article
FinCEN/BIS alert flags Russia export control evasion indicators
The Financial Crimes Enforcement Network and Bureau of Industry and Security warned financial institutions to be on the lookout for new and novel ways individuals and entities in Russia and Belarus are attempting to evade export controls.
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Article
TRACE: U.S. bribery enforcement continued decline in 2021
The number of U.S. foreign bribery enforcement actions slowed notably in 2021, while the overall pace of transnational anti-bribery enforcement actions and investigations lagged worldwide, according to TRACE International’s latest enforcement report.
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Article
Huntington Ingalls adds sustainability to CCO’s title
Huntington Ingalls Industries, a global engineering and defense technologies provider, appointed Paul Harris as executive vice president and chief sustainability and compliance officer. Harris has served as HII’s chief compliance officer since 2020.
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Article
Report: Financial crime fines down in 2021; AML penalties drop 78 percent
Fines for corporate crimes last year fell by more than half to 8.7 billion euros (U.S. $9.9 billion) from 2020’s total of €20 billion (U.S. $22.6 billion), according to a report released by research firm AML Intelligence.
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Article
FRC expands probe of PwC’s Babcock International audits
The U.K. Financial Reporting Council has expanded its investigation into PwC over its statutory audits of British defense contractor Babcock International Group to include the fiscal years ended March 31, 2019, and March 31, 2020.
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Article
Raytheon Technologies names general counsel
Aerospace and defense company Raytheon Technologies has named Raja Maharajh general counsel.
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Article
SPAC due diligence called out in $8M SEC enforcement
The SEC issued a $7 million fine against startup space company Momentus for misleading investors about the viability of its technology and an additional $1 million fine against the SPAC taking it public for not conducting adequate due diligence.
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Article
British Airways settles 2018 data breach class action
British Airways has settled one of the U.K.’s largest group actions after thousands of people sought compensation following a 2018 data breach that resulted in the airline being fined under the GDPR.
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Article
SEC drops FCPA probe into Avianca
Avianca Holdings disclosed in a regulatory filing that the SEC has dropped its FCPA investigation into the company and will not recommend an enforcement action.
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Article
USRA adds chief ethics and compliance officer
The Universities Space Research Association announced the appointment of Rochelle Ford as vice president, corporate affairs and governance. She will also serve as chief ethics and compliance officer.
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Article
DOJ joins SFO in corruption probe of Bombardier
The U.S. Department of Justice has joined the U.K. Serious Fraud Office in an ongoing investigation into plane maker Bombardier over suspected bribery and corruption relating to contracts and orders from airline carrier Garuda Indonesia.
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Article
Airbus subsidiary GPT pleads guilty to corrupt acts in Saudi Arabia
Airbus subsidiary GPT Special Project Management will pay approximately £30.3 million (U.S. $42.1 million) after pleading guilty to corruption relating to contracts it was awarded for work carried out in Saudi Arabia.
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Article
Spirit AeroSystems names general counsel
Spirit AeroSystems announced Mindy McPheeters has been named senior vice president, general counsel and corporate secretary.
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Article
TRACE: U.S. bribery enforcement declined in 2020
Despite a banner year for resolutions under the Foreign Corrupt Practices Act in 2020, U.S. enforcement of the anti-bribery law dropped 29 percent when compared to 2019, according to the latest Global Enforcement Report by TRACE International.
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Article
British Airways breach could cost billions in landmark class-action push
British Airways faces the largest group claim ever made in U.K. legal history over a 2018 data breach that exposed the financial and personal details of more than 400,000 of its customers.
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