All FCPA articles – Page 25
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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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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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Blog
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.
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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
FCPA enforcement ramps up in Q1 2016
If it looks like FCPA enforcement is at a low ebb, judging by the amount of activity we saw in 2015, don’t be fooled. The SEC is prosecuting FCPA cases with vigor, and if some of the current enforcement actions underway are any indicator, we will not see a significant ...
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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
Brazilian corruption investigation goes supernova
As billionaire construction magnate Marcelo Odebrecht prepares to turn state’s evidence in the corruption investigation that covers Petrobras, Odebrecht SA, and the Brazilian presidency itself, it seems that we might finally get some insight on just how pervasive Brazil’s so-called “cartel of corruption” really was. Is anybody ready to ...
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Blog
Is Venezuela’s state oil company creating the next Petrobras scandal?
While Petrobras currently holds the title as the most corrupt national energy company in South America, Petroleos de Venezuela SA (PDVSA) is a strong contender as well, thanks to ongoing U.S. investigations into possible FCPA violations involving U.S. companies, Swiss banks, and corrupt PDVSA officials.
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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
Novartis to pay $25 million in FCPA case
Switzerland pharmaceutical giant Novartis yesterday reached a $25 million settlement with the Securities and Exchange Commission for violating the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act concerning its operations in China.