All FCPA articles – Page 25
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Blog
Akamai Technologies dodges FCPA charges
A letter sent by the Department of Justice to Akamai Technologies reveals that the cloud services provider will not face an enforcement action in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act. It is the second declination this week issued under the new ...
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Blog
Nortek dodges FCPA enforcement action
Nortek said yesterday in a securities filing that the Department of Justice has decided not to recommend an enforcement action against it in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act. The declination came in the same week that the company entered into ...
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Blog
SEC: two FCPA cases result in non-prosecution agreements
The SEC has entered into non-prosecution agreements with Akamai Technologies and Nortek that will forfeit ill-gotten gains connected to bribes paid to Chinese officials by foreign subsidiaries. Simultaneously, the Justice Department closed its investigations into Akamai and Nortek. Jaclyn Jaeger reports.
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Blog
Walmart prevails in shareholder FCPA-related derivative case
Walmart’s board of directors successfully moved to dismiss a shareholder FCPA-related derivative claim, in which shareholders accused the directors of breaching their fiduciary duties in connection with a massive bribery and corruption scandal at the retail giant’s Mexico operations. Jaclyn Jaeger reports.
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Blog
The Yates Memo and the new normal for individual enforcement
In a speech before the New York bar, Justice Department Deputy Assistant Sally Yates detailed some of the effects the Justice Department has already seen from the Yates Memo, released last September, including a larger focus on individual actor culpability and a drive by DoJ lawyers to identify the individuals ...
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Blog
A blizzard of corruption has 2016 off to a roaring FCPA start
There has been enough foreign corruption turmoil in the first few months of 2016 that one almost doesn’t want to see what the rest of the year has in store. It’s the kind of year where, already, the Petrobras and Dieselgate scandals seem like a century ago. Tom Fox reports.
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Blog
A step toward the light of transparency, but only a small step
The U.S. government is now requiring banks to obtain the identifies of those they do business with—a rule, notes Tom Fox, that is long overdue. But criticism of the rule could point to a greater need for legislation to streamline the current system around the creation of corporations. Will Congress ...
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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
KBR ‘cooperating’ in Unaoil investigation
Engineering and construction company KBR confirmed in a quarterly report last week that it’s been contacted by the Department of Justice in connection with the massive media-leaked bribery and corruption scandal surrounding Monaco-based Unaoil. Jaclyn Jaeger reports.
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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
Unaoil-Can things get any bigger?
The Justice Department and SEC have their work cut out for them, says FCPA blogger Tom Fox, as the Monaco-based Unaoil scandal—in which the company used commissions to bribe clients—may be the biggest corruption enforcement action yet.
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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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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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Blog
The other cleat drops in the FIFA corruption probe
Image: The FIFA corruption probe has shifted to U.S. corporations that did business with FIFA, regional soccer federations, and national soccer organizations, prompting some companies, including Nike, DirectTV, and Standard Chartered, to start their own internal investigations. The message is quite clear for those U.S. companies with affiliations to soccer ...
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Blog
New Justice Department guidance and FCPA Pilot Program
When the DoJ speaks, chief compliance officers should listen—especially when the talks center on enforcement. The agency has launched a pilot program for Foreign Corrupt Practices Act enforcement that details three areas of self-disclosure to be required by companies going forward. If a company meets all three areas, it could ...
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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
The Butcher, the Baker and the Candlestick Maker … in Cuba, they are all covered under the FCPA
The winds of change are coming to Cuba, and U.S. businesses are slowly, but surely, beginning to get their long-awaited opportunities to set up shop in one of the world’s last truly socialist states. But this brings with it a most unusual FCPA liability that makes doing business in Cuba ...
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Las Vegas Sands pays $9 million for FCPA violations
Las Vegas Sands has agreed to pay a $9 million penalty to the Securities and Exchange Commission to settle charges that it violated the Foreign Corrupt Practices Act by failing to properly authorize or document millions of dollars in payments to a consultant facilitating business activities in China and Macao.
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Article
How the Panama Papers uncovered a global cornucopia of corruption
Working from one of the most ambitious whistleblower tips of all time, more than 370 journalists in 80 countries embarked on a year-long effort to parse through leaked files from the Panama-headquartered law firm Mossack Fonseca.