All FCPA articles
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Premium
Raytheon parent RTX settles false claims, defective pricing, Qatar FCPA violations for $950M
The other shoe finally dropped for Raytheon and parent company RTX, as two U.S. regulators announced nearly $1 bilion in penalties to settle defective pricing in defense contracts, false claims related to inflated prices on government contracts, and bribes paid to government officials in Qatar that violated the FCPA.
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News Brief
Poor internal controls led to FCPA violations in Moog’s $1.7M settlement with SEC
A company culture geared to “win business at any cost” encouraged employees of New York-based aerospace manufacturer Moog to pay bribes in India to win contracts, the Securities and Exchange Commission alleged.
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News Brief
John Deere to pay $10M to settle FCPA violations by subsidiary in Thailand
Illinois-based manufacturer John Deere will pay approximately $10 million in penalties and disgorgement to the Securities and Exchange Commission for violating the Foreign Corrupt Practices Act with bribes paid by a Thai subsidiary.
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News Brief
Circor avoids fine after self-reporting accounting control violations to SEC
Massachusetts-based technology company Circor International settled charges with the Securities and Exchange Commission regarding deficient internal accounting controls without paying a fine.
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News Brief
BCG avoids criminal prosecution for FCPA violations related to bribes in Angola
The Department of Justice declined to prosecute Boston Consulting Group for allegedly bribing Angolan officials in violation of the Foreign Corrupt Practices Act, citing the firm’s prompt self-disclosure and timely remediation.
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News Brief
Raytheon parent reserves $1.24B over improper payments, export control violations
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
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News Brief
Ericsson completes DOJ-imposed compliance monitorship
Swedish telecommunications giant Ericsson announced the conclusion of the independent compliance monitorship imposed on the company following its 2019 settlement for violations of the Foreign Corrupt Practices Act.
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Event
Revamped compliance processes key Albemarle win as Compliance Program of the Year
For successfully navigating thorny compliance issues related to self-disclosed violations of the Foreign Corrupt Practices Act, Albemarle was named Compliance Program of the Year at the 2024 Excellence in Compliance Awards.
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Premium
JBS CECO on overcoming ‘fear, anxiety, and chaos’ of taking job post-FCPA settlements
Mike Koenig explained at Compliance Week’s 2024 National Conference how he helped rebuild JBS Foods’ compliance department following Foreign Corrupt Practices Act settlements with the Department of Justice and Securities and Exchange Commission.
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Opinion
Highlights from Compliance Week 2024
Compliance officers took to the main stage to share their experiences at Compliance Week’s 2024 National Conference, while other highlights included conversations around artificial intelligence and the modern challenges the industry is confronting.
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Premium
Ex-Albemarle CCO shares drivers behind data analytics success at CW2024
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.
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Premium
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.
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News Brief
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.
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News Brief
Trafigura pleads guilty, to pay $127M over FCPA violations in Brazil
Singapore-based commodity trading company Trafigura agreed to pay nearly $127 million as part of a resolution with the Department of Justice addressing violations of the Foreign Corrupt Practices Act in Brazil.
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News Brief
Adani Group on defense over reports of FCPA probe
Indian conglomerate Adani Group said it is aware of an investigation by the U.S. Department of Justice into bribery allegations against a “third party” but denied a relationship with it.
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News Brief
Ex-Stericycle finance director charged for bribery scheme role
A former finance director at medical waste disposal company Stericycle faces Department of Justice charges for his alleged role in a bribery scheme that led the company to an $84 million settlement regarding violations of the Foreign Corrupt Practices Act.
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Premium
DOJ eyeing more FCPA cases with whistleblower program
The Department of Justice anticipates its upcoming whistleblower reward program will help the agency increase its pipeline of cases involving apparent violations of the Foreign Corrupt Practices Act, said Acting Assistant Attorney General Nicole Argentieri.
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News Brief
DOJ on sprint toward pilot whistleblower reward program
Deputy Attorney General Lisa Monaco said the Department of Justice will look to fill gaps in its whistleblower procedures with the launch of a 90-day sprint toward a DOJ-led pilot whistleblower reward program.
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News Brief
Ericsson promotes investigations head to CCO
Ericsson shook up its reporting structure with the promotion of Head of Corporate and Government Investigations Rebecca Rohr to chief compliance officer.
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Podcast
CW National 2024 preview: Former Albemarle CCO on FCPA case lessons
Andrew McBride, former chief risk and compliance officer at chemical company Albemarle Corp., joins the Compliance Week podcast with Aaron Nicodemus to preview his session at CW’s National Conference in Washington, D.C.