One of the least-read sections of the U.S. Foreign Corrupt Practices Act is the section entitled, “Foreign Corrupt Practices Act Opinion Procedure.” This section allows companies to seek an opinion from the Department of Justice “as to whether certain specified, prospective—not hypothetical—conduct conforms” to the Justice Department’s current enforcement policy on the FCPA. It is […]
Anti-Bribery
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H-P to Pay $108 Million for FCPA Violations
Hewlett-Packard today agreed to pay a total of $108 million to the Securities and Exchange Commission to settle civil and criminal charges over violations of the Foreign Corrupt Practices Act. On April 9, H-P agreed to pay $29 million in disgorgement, including $26.4 million to the SEC, and $2.5 million to satisfy an IRS forfeiture […]
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Latvia to Join OECD Anti-Bribery Convention
Latvia has completed the process to become a member of the Organization for Economic Co-operation and Development’s Anti-Bribery Convention. On May 30, Latvia will become the 41st party to join the Convention. “Joining the Convention will enable Latvia to play a more active role in global efforts to tackle bribery and corruption,” OECD Secretary-General Angel […]
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Justice Department Uses Wire Fraud to Pursue Product Safety Case
The Department of Justice is in hot pursuit of product safety cases, and if the record penalty it hit Toyota with last month is any indication, companies such as General Motors that have large safety issues with a product could be in for an unwelcome surprise. The agency is taking a novel approach to its […]
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GSK Launches Bribery Probe in Iraq
GlaxoSmithKline has launched an internal investigation into potential violations of the Foreign Corrupt Practices Act for alleged bribery payments made to doctors in Iraq, nine months after becoming embroiled in a similar corruption probe for improper payments made in China. GSK is investigating claims into whether some of its employees hired government-employed doctors and pharmacists […]
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Former TeliaSonera CEO Resigns From Autoliv Board
Lars Nyberg, former CEO of Swedish telephone company TeliaSonera, which is currently under investigation for potential corruption violations, has withdrawn his name as a nominee for re-election to the board of Autoliv. In connection with his withdrawal from nomination, Nyberg also will resign as chairman of the board, effective immediately. Nyberg, who first joined the […]
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SBM Offshore Probe Finds Evidence of Bribery
Following the conclusion of a two-year internal investigation, Dutch oil and gas company SBM Offshore announced this week that it has uncovered evidence that some of its agents may have made bribery payments to government officials in Angola and Equatorial Guinea. The investigation, which SMB Offshore initiated in April 2012, was carried out by independent […]
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U.K. Regulator Hits Besso Ltd. With £315,000 Fine for Anti-Bribery Lapses
The Financial Conduct Authority (FCA) has fined insurance broker Besso Limited £315,000 for lapses in its anti-bribery and corruption systems, the United Kingdom regulator announced recently. In its final notice released 19 March, the FCA said the London-based firm failed to take reasonable care in setting up and maintaining adequate systems to counter risks of […]
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Three Joint Venture Companies Fined $17 Million in Bribery Case
The African Development Bank Group last month levied financial penalties totaling $17 million against three joint venture companies in a bribery case. On March 21, the Integrity and Anti-Corruption Department (IACD) of the African Development Bank fined Kellogg Brown & Root $6.5 million; Technip, $5.3 million; and JGC $5.2 million. According to the charges, these […]
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Alstom Faces FCPA Probe
French power and transportation company Alstom confirmed yesterday that it is cooperating with the Department of Justice in connection with a bribery probe into possible violations of the Foreign Corrupt Practices Act. The bribery probe centers on allegations that Alstom, along with Japanese trading company Marubeni, used middlemen to pay—and conceal—bribes to foreign government officials […]
