All FCPA articles – Page 13
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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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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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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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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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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.
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Blog
What is the cost of a subpoena?
Glencore has seen a drop in its share price, which could be related to the Justice Department having issued a subpoena for possible FCPA violations in the Democratic Republic of Congo, Nigeria, and Venezuela.
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Irony, FCPA enforcement actions, and M&A
Boeing’s planned acquisition of Brazilian company Embraer’s commercial jet business and LyondellBassell’s possible acquisition of Brazilian entity Braskem highlights an ironic twist to the FCPA: An enforcement action could be so financially draining that your company is forced to sell all or parts of itself, but results from that same ...
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Blog
Beam Suntory to pay $8M in FCPA case
Beam Suntory subsidiary Beam India was charged by the SEC with making improper payments to various government officials to obtain or retain business in the Indian market. Beam was fined $8M, but neither admitted nor denied the the allegations.
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Blog
Shell companies and the who of corruption
A key part of any fraud scheme are the attempts to keep it hidden, and many companies set up shell companies to do just that. A look at why shell companies can shield bad actors from the public record.
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Whistleblowers and building trust
It is now more important than ever for companies to take seriously internal whistleblower reports, get the reports into the hands of the corporate functions that can triage and investigate such information, and keep the whistleblower in the loop more fully as to the status of the investigation.
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The importance of compliance contract terms
Making sure third-party contracts contain appropriate compliance terms and conditions can help save companies time and money down the road.
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Asking questions about your third-party process
When regulators come knocking, it’s important to have the right protocols in place. Knowing what questions to ask can be a big help to companies when implementing a third-party due diligence process.