All FCPA articles – Page 12
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ArticleCases that make one wonder about the intent of enforcement
A close look at FCPA investigations into Danske Bank, Goldman Sachs, and Walmart prompt more questions than answers.
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Blog
Vantage Drilling pays $5M, closes FCPA case with SEC
Offshore drilling contractor Vantage Drilling International has concluded a settlement agreement with the Securities and Exchange Commission, in which it has agreed to pay $5 million to resolve a previously disclosed investigation into potential violations of the internal accounting control provisions of the U.S. Foreign Corrupt Practices Act.
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PodcastDan Chapman talks FCPA investigations
Former CCO Dan Chapman chats with Tom Fox about how to approach an FCPA investigation and come out stronger after remediation.
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Blog
Walmart reaches proposed class-action settlement for $160M
Walmart has reached a proposed $160 million settlement with the City of Pontiac General Employees’ Retirement System in a securities fraud class-action lawsuit concerning a long-running investigation into violations of the Foreign Corrupt Practices Act.
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Blog
SEC charges Stryker second time for FCPA violations
The SEC on Sept. 28 charged Stryker with violating the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act, the second time the SEC has brought an FCPA action against the medical device company.
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Blog
UTC to pay $13.9M to settle SEC FCPA charges
United Technologies on Sept. 12 reached a $13.9 million settlement with the Securities and Exchange Commission to resolve charges that it violated the Foreign Corrupt Practices Act by making illicit payments in its elevator and aircraft engine businesses.
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Blog
Sanofi to pay $25M to resolve FCPA violations
The SEC on Tuesday announced that Paris-based pharmaceutical company Sanofi has agreed to pay more than $25 million to resolve charges that its Kazakhstan and Middle East subsidiaries made corrupt payments to win business.
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ArticleThree steps for managing the FCPA risk of distributor compensation
With the Microsoft FCPA investigation as context, there are three things your company can do to manage the risks associated with third-party distributors.
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Blog
Legg Mason to pay $34M to resolve FCPA charge
Investment management firm Legg Mason will pay over $34 million to resolve a charge brought by the Securities and Exchange Commission that the company violated the Foreign Corrupt Practices Act in a scheme to bribe Libyan government officials.
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Blog
Microsoft offers details into reported corruption probe
According to the Wall Street Journal, U.S. authorities are investigating Microsoft over a bribery and corruption matter in Hungary, some details of which the company shared with Compliance Week.
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Blog
FCPA inquiry into Güralp Systems Limited ends as SFO investigation continues
Consistent with its FCPA Corporate Enforcement Policy, the Department of Justice has closed its Foreign Corrupt Practices Act inquiry into U.K. company Güralp Systems, without bringing any action, as the maker of seismic testing equipment faces an ongoing parallel investigation by the U.K. Serious Fraud Office.
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Blog
Joint venture risks under the FCPA
Joint ventures present a unique set of FCPA risks for the compliance practitioner, which is why companies need to incorporate risk management techniques in all phases of JV relations, pre-formation, the JV agreement, and in operations after the JV has begun operation.
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Blog
The role of the controller in business ventures
A close collaboration between the compliance function and the controller role portends a more robust picture of enterprise risk, one which encompasses legal, compliance, ethics, internal controls, financial, business, and governance.
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Blog
If geopolitical risks change, scrub your operations
The recent political upheavals in South Africa and Malaysia should serve as a reminder for companies to review their operations in politically evolving countries in which they might have conducted government business.
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Blog
What is a business relationship?
The Man From FCPA ponders the FCPA considerations of electric-car company Tesla putting the squeeze on its suppliers by asking them to refund monies Tesla had paid to them, as far back as 2016.
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Blog
A fine mess in Brazil (and Houston)
A legal battle between Vantage Drilling and Petrobras, Brazil’s state-owned oil company, has put a new twist on contract challenges and FCPA violations
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Blog
Will a Goldman partner flip?
The former head of Goldman Sachs southeast Asia is reportedly in discussions with the Justice Department and will likely plead guilty to federal charges regarding his involvement with the 1MDB corruption scandal. What will his involvement mean for the company, which continues to deny culpability?
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Blog
Judge dismisses SEC FCPA case against former Och-Ziff executives
A federal judge has dismissed the SEC’s civil lawsuit against two former executives of U.S. fund manager Och-Ziff Capital Management Group, finding that the SEC filed too late to seek damages for violations of the Foreign Corrupt Practices Act.
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Blog
Credit Suisse subsidiary settles FCPA violations
The SEC has announced that Credit Suisse Group AG will pay $30 million to settle allegations that it rigged hiring practices to win business in the obtained investment banking business in the Asia-Pacific region, an FCPA violation. Credit Suisse also agreed to a $47 million settlement with the Justice Department.
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Blog
Hiring and the FCPA
The Credit Suisse FCPA enforcement action reminds us all again that it is not the hiring of family members or close friends of a foreign government official or employee of a state-owned enterprise that is illegal under the FCPA, only those hires made with corrupt intent.