All Department of Justice articles – Page 43
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Blog
Two former Deutsche Bank employees indicted on fraud charges
The Department of Justice announced today the indictment of two former Deutsche Bank traders—the bank’s supervisor of the pool trading desk in New York and a derivatives trader in London—for their alleged roles in a scheme to manipulate the USD London InterBank Offered Rate, a benchmark interest rate to which ...
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Article
Defining compliance program effectiveness
During a keynote panel at Compliance Week 2016, enforcement officials from the Securities and Exchange Commission and the Department of Justice spoke candidly about compliance program effectiveness, personal liability, and more. Jaclyn Jaeger reports.
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BlogCW2016: SEC and DoJ speak on personal liability
Enforcement heads from the SEC and Department of Justice kicked off Compliance Week 2016 in Washington D.C. this week, speaking candidly about compliance program effectiveness, personal liability, and much more. Jaclyn Jaeger reports.
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Article
CCOs feeling the heat of regulatory scrutiny
The threat of increasing personal liability has compliance officers on the defensive, especially in light of the newly established compliance counsel role within the Department of Justice’s Fraud Section. Jaclyn Jaeger looks into how CCOs are dealing with this intensified level of direct scrutiny on their performance.
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ArticleThe rules of the road for corporate monitors
Companies facing a corporate monitorship face many questions. How does the process work? What are the rules, not to mention proper etiquette, for having a monitor in your midst for upwards of three years? Joe Mont reports.
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Blog
Harris: No DoJ action in FCPA case
Defense contractor Harris said last week in a quarterly filing that the Department of Justice has decided not to take any action following the completion of its investigation into potential violations of the Foreign Corrupt Practices Act. The SEC’s investigation remains ongoing.
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Blog
Och-Ziff sets aside $200 million for FCPA probe
Och-Ziff Capital Management Group, a publicly traded hedge fund firm, disclosed in a quarterly filing this week that it has accrued a $200 million loss, thus far, to resolve violations of the Foreign Corrupt Practices Act. It also said its “probable” that the government will pursue civil and criminal sanctions.
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Blog
Wyeth and Pfizer to pay $784.6 million in False Claims Act case
Wyeth and Pfizer last week reached a $784.6 million settlement with the Department of Justice to resolve allegations that Wyeth knowingly reported to the government false and fraudulent prices on two of its drugs.
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Blog
Key Energy: Justice Department has closed FCPA investigation
Key Energy Services, an oilfield services company, said last week that the Department of Justice has decided not to file any charges against it in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act. Key said it's also reached an agreement in principle with ...
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Blog
Newmont Mining discloses FCPA investigation
Newmont Mining said this week in a securities filing that it is conducting an investigation relating to certain business activities of the company, its affiliates, and contractors in countries outside the United States. The gold mining company added that the investigation includes a review of compliance with the U.S. Foreign ...
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Blog
Greater scrutiny of merger activity in the defense industry on the way?
The Justice Department and FTC this month issued a joint statement reaffirming the importance of preserving competition in the defense industry. The statement may have been prompted by threats made by the Department of Defense to seek legislation to expand its role in the review of mergers and acquisitions in ...
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Article
Carrots and sticks: A closer look at the FCPA Pilot Program
The Department of Justice has churned out a brief, but valuable, piece of guidance setting forth the details of a one-year FCPA enforcement pilot program, providing companies with much needed and long-awaited transparency into how the Criminal Division’s Fraud Section measures and credits voluntary self-disclosure and cooperation in FCPA investigations. ...
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Article
Special report: Are FCPA actions merely a slap on the wrist?
Companies on the receiving end of an FCPA enforcement action often face monitoring, fines, and litigation as a result. But many times, what they don’t experience is a drop in their share price. In fact, among the largest FCPA violations on record, many companies saw no drop in share price. ...
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Blog
Criminal Division launches new FCPA pilot program
Effective today, the Department of Justice’s Criminal Division has launched a one-year “pilot program” in the Fraud Section’s FCPA Unit as part of the agency’s effort to promote both transparency and accountability. At the end of the one-year pilot period, the Fraud Section will determine whether to extend or modify ...
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Blog
VimpelCom discloses more details on FCPA damages
Amsterdam-based VimpelCom, a global telecommunication services provider, said last week in its annual report with the Securities and Exchange Commission that it has set aside $105 million for legal expenses associated with its $795 million settlement reached last month with U.S. and Dutch prosecutors for paying bribes to a government ...
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Blog
Zimmer Biomet: FCPA probe remains ongoing
Medical device maker Zimmer Biomet Holdings (formerly Biomet) is still under investigation by the Justice Department and SEC for possible violations of the Foreign Corrupt Practices Act regarding its operations in Brazil and Mexico. As a result, a three-year deferred prosecution agreement that Biomet entered into with the Justice Department ...
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Blog
Alere receives subpoena in foreign bribery probe
Alere, a global diagnostic device and service provider, said yesterday a filing the Securities and Exchange Commission that it received a grand jury subpoena from the Department of Justice requiring the production of documents relating to its sales practices in Africa, Asia, and Latin America.
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Article
Scrutinizing hiring practices for FCPA violations
Through recent investigations and enforcement actions, the Securities and Exchange Commission and Department of Justice have been warning companies to proceed with caution when hiring the relatives of foreign government officials, lest they run afoul of the Foreign Corrupt Practices Act.
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Blog
21st Century Oncology to pay $34.7 million for False Claims Act violations
21st Century Oncology, a physician-led integrated cancer care provider, and its wholly owned subsidiary South Florida Radiation Oncology, will pay $34.7 million to settle allegations that they performed and billed for procedures that were not medically necessary. Since January 2009, the Justice Department has recovered a total of more than ...
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Mondelez International faces FCPA probe
Mondelez International, the U.S. parent of Mondelez India, recently disclosed in a securities filing that is being investigated by the U.S. Securities Exchange Commission and the Department of Justice for potential violations of the Foreign Corrupt Practices Act related to its operations in India.