The SEC’s Office of Compliance Inspections and Examinations’ priorities in 2020 foster its risk-based approach and find room for both Main Street investors and innovation.
Internal Investigations
Posted inInternal Investigations
Landec discloses FCPA probe
Landec, an innovator of health and wellness solutions, has discovered and reported to U.S. regulators a “compliance issue” at its Yucatan Foods production facility in Guanajuato, Mexico. It now faces a government probe into possible FCPA violations
Posted inAnti-Bribery
SFO latest to investigate Glencore over bribery concerns
Glencore announced it is under investigation by the U.K. Serious Fraud Office over suspicions of bribery, making it the third investigation the multinational commodity trading and mining company is now facing.
Posted inRisk Management
NHTSA probing Tesla for defects that cause battery fires
The National Highway Traffic Safety Administration has launched an investigation into electric-car company Tesla over potential battery defects that allegedly cause its vehicles to suddenly burst into flames.
Posted inAccounting & Auditing
SEC investigating ProPetro’s financial disclosures
Oilfield services company ProPetro Holding announced the SEC has opened an investigation into its financial disclosures and reporting.
Posted inAccounting & Auditing
EY accused in U.K. gold-laundering scheme
Big Four audit firm EY has been accused of covering up evidence of smuggling by an organized crime gang that was laundering British drug money through gold dealings, according to an investigation by the BBC.
Posted inTechnology
Facebook antitrust probe expands to 47 attorneys general
An antitrust investigation into Facebook led by the New York Attorney General’s office widened with the announcement that 47 attorneys general are now taking part.
Posted inEurope
SFO closes long-running LIBOR manipulation investigation
The U.K. Serious Fraud Office has closed its investigation into manipulation of the London Interbank Offered Rate (LIBOR), ending a probe that began more than seven years ago.
Posted inInternal Controls
Labeling employee a ‘compliance risk’ not defamation, says court
A former Biomet Argentina employee—in a bit of FCPA hot water—landed on his company’s restricted persons list, sued for defamation, and lost.
Posted inEurope
Ericsson reserves $1.2B in FCPA case; speaks candidly on compliance program
Ericsson announced it has set aside $1.2 billion to resolve a long-running FCPA investigation that spans several geographies. CEO Börje Ekholm spoke candidly about the shortcomings of the company’s ethics and compliance program and how it’s addressing them.