Aerospace and defense company Rolls-Royce announced this week that the U.S. Department of Justice has joined the U.K. Serious Fraud Office in an ongoing formal criminal investigation relating to allegations of foreign bribery and corruption. As Compliance Week previously reported, Rolls-Royce informed the SFO in December 2012 that it had discovered “matters of concern” in […]
Anti-Bribery
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Study: Companies Still Struggle With Corruption, Bribery Risks
Compliance officers are not doing a good job at managing cyber-security risks and plenty of gaps remain in anti-corruption compliance programs, says a recent survey conducted by Compliance Week and Kroll Advisory Solutions. Released last month at Compliance Week 2014 in Washington, D.C., the report examined the role of compliance executives in addressing bribery and […]
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FTC Bolsters Enforcement of EU-U.S. Safe Harbor Framework
The Federal Trade Commission is cracking down on companies that falsely certify compliance with the United States and EU safe harbor framework on data protection. Expect that scrutiny to only intensify in the coming year. Developed in 2000 by the U.S. Department of Commerce and the European Commission, the U.S.-EU Safe Harbor Framework establishes a […]
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Corruption Comes Home to Roost
LONDON—And suddenly, within the space of a week, ethics & compliance officers have all the ammunition they need to tell cynics once and for all why eradicating corruption is so important. Here in the United Kingdom (where I am spending the week on business), the word “war” is on the front page of every newspaper […]
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U.K. Bribery Charges in the Offing for France’s Alstom
Bloomberg News reported last week that French train manufacturer Alstom SA will be charged with violating U.K. bribery laws following a five-year investigation, citing two sources with knowledge of the investigation. The sources, who requested anonymity, told the news outlet that the U.K.’s Serious Fraud Office may seek charges to be approved by the attorney […]
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Walmart: FCPA Probe Could Reach $240 Million
Walmart disclosed in a quarterly earnings report yesterday that it could end up shelling out as much as $240 million in the next fiscal year for compliance enhancements and investigation costs related to possible violations of the Foreign Corrupt Practices Act. “We anticipate expenses for FCPA matters and compliance-related enhancements to range between $200 and […]
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Pfizer’s Head of Government Investigations Joins Paul Hastings
Gary Giampetruzzi, former assistant general counsel and head of government investigations at Pfizer, has joined the law firm Paul Hastings as a partner in the New York office. During his 13 years with Pfizer, Giampetruzzi held various posts, including as a deputy compliance officer, where he led the build out of the company’s anti-corruption and […]
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Mead Johnson Warns of Possible FCPA Violations
Mead Johnson Nutrition announced this week in a Form 10-K filing with the Securities and Exchange Commission that it has launched an internal investigation into potential violations of the Foreign Corrupt Practices Act. In October 2013, the SEC launched an investigation into whether a Chinese subsidiary of the infant formula maker inflated formula prices in […]
