Key Energy Services, an oilfield services company, disclosed in a securities filing this week that it is being investigated by the Securities and Exchange Commission for potential violations of the Foreign Corrupt Practices Act. The FCPA allegations concern business activities of Key Energy’s operations in Russia, the company stated in a Form 10-Q filing, dated […]
Anti-Bribery
Posted inAnti-Bribery
Epiq Systems Releases Bribery Act Guide for UK Energy Sector
Epiq Systems, a provider of managed technology for the global legal profession, has published a new guide, providing guidance for companies in the UK energy industry about their obligations under the UK Bribery Act. The Bribery Act not only bans corporations from bribing officials of foreign governments to win business, like the Foreign Corrupt Practices […]
Posted inAnti-Bribery
Corporate Gift Giving, Hospitality a Little Less Posh in Era of U.K. Bribery Act
Corporate gifts have gotten a little less lavish in the wake of the U.K. Bribery Act. Executives are less inclined to gift luxury baskets, cases of wine, or expensive trips, and instead giving clients and prospects upscale pens and items marked with the company logo, according to a recent analyisis published on the International Meetings […]
Posted inAnti-Bribery
As Tips Pour In, Regulators Seek to Protect Whistleblowers
Regulators are getting more serious about encouraging whistleblowers to come forward with their tips and protecting them from retaliation. Last month, the heads of the whistleblower offices of the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Department of Labor came together to share the latest developments of their whistleblower programs in […]
Posted inAnti-Bribery
Johnson Controls Discloses FCPA Probe
Johnson Controls, a diversified technology and industrial services provider, disclosed last week in a Form 10-Q filing with the Securities and Exchange Commission that it is investigating potential violations of the Foreign Corrupt Practices Act with respect to its operations in China. The FCPA allegations are isolated to Johnson Controls marine business in China and […]
Posted inAnti-Bribery
Avon to Pay $135 Million for FCPA Violations, Bolster Compliance
Cosmetics giant Avon will pay $135 million to resolve long-standing civil and criminal charges resulting from violations of the Foreign Corrupt Practices Act in connection with its China operations. Avon disclosed in a May 1 Form 10-Q filing with the Securities and Exchange Commission that it will $135 million in fines, disgorgement, and prejudgment interest […]
Posted inAnti-Bribery
EU Anti-Fraud Office Touts Higher Caseload, More Results in 2013
The European Anti-Fraud Office (OLAF) logged a record number of tips last year, with 1,294 pieces of information coming into the office, a 35 percent increase from 2009, according to the agency’s annual report for 2013. Officials said the higher volume points to increased attention by citizens and institutions to anti-fraud efforts and increased confidence […]
Posted inAnti-Bribery
Mixed Anti-Corruption Grades for EU Institutions According to TI’s New Integrity Report
European Union institutions have some work to do in tightening their houses against corruption, according to the first-ever such assessment conducted by the anti-corruption watchdog Transparency International. The EU Integrity System Report, released last week, found that the EU institutions are vulnerable to corruption because of “loopholes and poor enforcement” in matters of ethics, transparency, […]
Posted inAnti-Bribery
Delphi Automotive Launches FCPA Probe
Delphi Automotive, a U.K.-based auto parts supplier, announced last week in a Form 10-Q filing with the Securities and Exchange Commission that it has identified potential violations of the Foreign Corrupt Practices Act. During the first quarter of 2014, Delphi identified certain potentially improper payments, made by certain manufacturing facility employees in China, that may […]
Posted inAnti-Bribery
Brazil to Issue Guidance on Its New Anti-Bribery Law
Brazil’s got a brand new anti-bribery law that goes beyond what other large countries have adopted so far, and new guidance on it could influence how large companies approach anti-corruption. Brazil president Dilma Rousseff is expected to approve regulations any day now that will give multinational companies clearer guidance on what elements their compliance programs […]
