The African Development Bank Group last week levied $5.7 million in financial penalties against engineering services provider Snamprogetti in a bribery case. According to the charges, Snamprogetti, together with three other companies, funneled $180 million in bribes from 1995 to 2004 to government officials in Nigeria as part of a multinational joint venture to develop […]
Anti-Bribery
Posted inAnti-Bribery
GSK Faces Criminal Probe by SFO
Pharmaceutical giant GlaxoSmithKline announced this week that it has become the target of yet another criminal investigation, this time by the British government. On May 27, GSK Company Secretary V.A. Whyte disclosed in a two-sentence statement that the U.K. Serious Fraud Office “has opened a formal criminal investigation into the group’s commercial practices.” “GSK is […]
Posted inAnti-Bribery
Court Ruling Upholds Broad FCPA Definition of ‘Foreign Official’
A federal appeals court ruling that clarifies the definition of a “foreign official” under the Foreign Corrupt Practices Act has effectively upheld the government’s broad view of who qualifies. In addressing the case, U.S. v. Esquenazi, the 11th Circuit Court of Appeals became the first appellate court in FCPA history to tackle what constitutes an […]
Posted inAnti-Bribery
How Walmart’s Global CCO Is Working to Right the Ship
When Jay Jorgensen was offered the top compliance job at Walmart, he had two concerns: One was how to sell his wife—and himself—on a move to Bentonville, Arkansas. The other and more substantial concern was how he would need to approach the job of recasting compliance at Walmart, given the massive size of the global […]
Posted inAnti-Bribery
Facing an FCPA Probe? Prepare for Follow-On Litigation
Companies that find themselves at the center of an investigation for potential violations of the Foreign Corrupt Practices Act have more to worry about than just an enforcement action. Increasingly, they must fend off shareholder class-action lawsuits based on FCPA allegations as well. The FCPA itself does not provide for a private right of action, […]
Posted inAnti-Bribery
Facing an FCPA Probe? Prepare for Follow-On Litigation
Companies that find themselves at the center of an investigation for potential violations of the Foreign Corrupt Practices Act have more to worry about than just an enforcement action. Increasingly, they must fend off shareholder class-action lawsuits based on FCPA allegations as well. The FCPA itself does not provide for a private right of action, […]
Posted inAnti-Bribery
Appeals Court Defines ‘Instrumentality’ Under FCPA
A landmark ruling issued today by the 11th Circuit Court of Appeals upholds the government’s broad definition of “instrumentality” under the Foreign Corrupt Practices Act. In addressing the case, U.S. v. Esquenazi, the 11th Circuit is the first appellate court—as opposed to a trial court—in FCPA history to tackle squarely the Justice Department’s interpretation of […]
Posted inAnti-Bribery
Transparency Problems in Emerging Markets Create Corruption Risks
Compliance officers, beware: A lack of transparency in public reporting in many countries where U.S. companies do business may enhance the risk of violating the Foreign Corrupt Practice Act and other anti-bribery laws around the world. A first-of-its-kind report examining the public disclosure practices in 215 countries revealed significant deficiencies in the availability and transparency […]
