Enforcement Action

United Technologies on Sept. 12 reached a $13.9 million settlement with the Securities and Exchange Commission to resolve charges that it violated the Foreign Corrupt Practices Act by making illicit payments in its elevator and aircraft engine businesses.

Beam Suntory subsidiary Beam India was charged by the SEC with making improper payments to various government officials to obtain or retain business in the Indian market. Beam was fined $8M, but neither admitted nor denied the the allegations.

U.S. investment management firm Legg Mason disclosed in a securities filing on May 30 that it expects to soon complete negotiations with both the U.S. Department of Justice and the SEC to resolve a Foreign Corrupt Practices Act investigation.

Media company Clear Channel Outdoor disclosed that it has advised U.S. authorities about accounting discrepancies caused by the misappropriation of funds at its Chinese subsidiary, in possible violation of the Foreign Corrupt Practices Act.

The SEC announced on Monday that Dun & Bradstreet will pay $9 million for violations of the Foreign Corrupt Practices Act arising from improper payments made by two Chinese subsidiaries. Meanwhile, the Department of Justice said it has declined prosecution “consistent with the FCPA Corporate Enforcement Policy.”

Germany-based Fresenius Medical Care, a provider of dialysis products and services, has set aside €200 million concerning its ongoing settlement negotiations with the U.S. government regarding potential violations of the Foreign Corrupt Practices Act.

IT service management company Teradata will not be facing any enforcement action following an investigation into questionable gifts and travel expenses by one of its international subsidiaries doing business in Turkey.

Cobalt International Energy disclosed in a securities filing this week that the SEC concluded its second investigation into potential violations of the Foreign Corrupt Practices Act related to the company’s operations in Angola and does not intend to bring an enforcement action.

Dutch oil and gas services company SBM Offshore, and its wholly owned U.S. subsidiary SBM Offshore USA, will pay a criminal penalty of $238 million in connection with schemes involving the bribery of foreign officials in Brazil, Angola, Equatorial Guinea, Kazakhstan, and Iraq in violation of the Foreign Corrupt Practices Act.

Two former executives at Dutch oil and gas services company SBM Offshore have pleaded guilty to conspiracy to violate the Foreign Corrupt Practices Act for their roles in a scheme to bribe foreign government officials in Brazil, Angola, and Equatorial Guinea.

Core Laboratories said in a securities filing today that the U.S. Department of Justice has closed its investigation into possible violations of the Foreign Corrupt Practices Act related to the oil services company's interactions with Unaoil.

Vantage Drilling Company, an offshore drilling contractor, announced this week that it will not be facing an enforcement action from the Department of Justice regarding a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.

In case companies had any lingering doubt about Foreign Corrupt Practices Act enforcement, Attorney General Jeff Sessions indicated in remarks this week that FCPA enforcement is alive and well. His remarks come a week after Acting Principal Deputy Assistant Attorney General Trevor McFadden similarly pledged support of FCPA enforcement.

Crawford & Co, an independent claims management firm, disclosed in a quarterly report this week that the Securities and Exchange Commission said it will not be bringing charges following a Foreign Corrupt Practices Act investigation.

Las Vegas Sands agreed to pay a $6.96 million criminal penalty to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act. This resolution is in addition to the $9 million related civil penalty paid to the SEC in April. Jaclyn Jaeger reports.

Medical-device maker Zimmer Biomet Holdings has agreed to pay more than $30 million to resolve parallel SEC and Department of Justice investigations into the company’s repeat violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.

Novartis is facing a fresh bribery probe, this time in Greece, where authorities there have raided the company’s offices searching for electronic documents and files. Jaclyn Jaeger reports.

General Cable today agreed to pay a combined $76 million to resolve parallel investigations with the SEC and Department of Justice related to violations of the Foreign Corrupt Practices Act. The company agreed to pay an additional $6.5 million penalty to the SEC to settle separate accounting-related violations. Jaclyn Jaeger has more.

Laureate Education, a for-profit higher education institution, said that it is conducting an internal investigation into possible violations of the U.S. Foreign Corrupt Practices Act concerning an $18 million donation that one of its network institutions made in Turkey to a charitable foundation. Jaclyn Jaeger has more.

Cognizant Technology Solutions said in a recent regulatory filing that it is conducting an internal investigation to determine whether certain payments relating to facilities in India were made improperly and in possible violation of the U.S. Foreign Corrupt Practices Act.

Medical-device maker Misonix said it voluntarily contacted the Securities and Exchange Commission and the U.S. Department of Justice this week to inform them about potential violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.

Och-Ziff Capital Management Group and wholly-owned subsidiary OZ Africa Management will pay $412M for the bribery of government officials in Africa—the first time a hedge fund has been accountable for FCPA violations. Jaclyn Jaeger has more.

Switzerland-based oilfield services giant Weatherford International will pay $140M to settle charges that it inflated earnings by using deceptive income tax accounting. Jaclyn Jaeger reports.

Anheuser-Busch InBev today reached a $6 million settlement with the Securities and Exchange Commission for violations of the Foreign Corrupt Practices Act (FCPA) and for chilling a whistleblower who reported the misconduct. Jaclyn Jaeger reports.

The SEC will not take action against Harris Corp. for FCPA violations, but has brought charges against a former Harris executive for bribing Chinese government officials to obtain business. Jaclyn Jaeger explores.