Former Albemarle CCO Andrew McBride explained at Compliance Week’s 2024 National Conference how he led the company’s compliance department to remediate the issues that led to apparent FCPA violations and how the team used data analytics to assess risks and implement compliance solutions.
Regulatory Enforcement
Posted inAccounting & Auditing
Ebix: SEC probe into short seller claims closed
Ebix announced the Securities and Exchange Commission closed an investigation into allegations against the software company’s accounting practices raised in a short seller report.
Posted inAnti-Bribery
DOJ commodities trader FCPA sweep offers lessons in cooperation
The value the Department of Justice places on cooperation can be measured by studying penalties and agreements resulting from the agency’s long-running investigation into bribery and corruption by oil traders operating in Latin America and Africa.
Posted inBoards & Shareholders
DOJ antitrust scrutiny pushes out 2 WBD board directors
Two directors on the board at media giant Warner Bros. Discovery resigned after the Department of Justice raised antitrust concerns regarding their similar positions on the board of Charter Communications.
Posted inEthics & Culture
CBP stats show persistent problem areas under UFLPA
It’s been nearly two years since the Uyghur Forced Labor Prevention Act took effect, and as enforcement statistics and recent reports demonstrate, many businesses are still not adequately vetting their supply chains.
Posted inEurope
Need to know: How AI Act sets tone for AI regulation
The European Union’s AI Act follows a risk-based approach: the higher the risk the artificial intelligence poses, the stricter the rules. Understanding each category is key to compliance.
Posted inAnti-Bribery
Ericsson: Monitor certified anti-corruption program post-FCPA settlement
Swedish telecommunications company Ericsson announced its independent monitor appointed by the Department of Justice certified its compliance program satisfies the requirements ordered by the U.S. agency following its 2019 Foreign Corrupt Practices Act settlement.
Posted inAccounting & Auditing
PwC fined $2.75M by PCAOB for independence process breakdowns
Big Four audit firm PwC was assessed a $2.75 million penalty by the Public Company Accounting Oversight Board for failures in its auditor independence processes related to a 2018 engagement.
Posted inEurope
New leadership no easy fix for Irish DPC’s GDPR woes
The Irish Data Protection Commission has a new leadership structure, but it is uncertain whether the changes can get the key privacy regulator caught up on enforcement of the General Data Protection Regulation.
Posted inRegulatory Enforcement
Gamma Healthcare, owners to pay $13.6M in DOJ false claims case
Missouri-based Gamma Healthcare and three of its owners agreed to pay approximately $13.6 million to settle charges levied by the Department of Justice of violating the False Claims Act by improperly billing Medicare for tests that were not ordered or medically necessary.
