Nortek Launches FCPA Probe
Nortek disclosed last week in a regulatory filing with the Securities and Exchange Commission that it has launched an internal investigation into potential violations of the Foreign Corrupt Practices Act concerning potential improper payments made by its Chinese manufacturing unit. Details inside.
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Nortek FCPA investigation costs reach $2.3 million
Nortek, a maker of home security and thermostat systems, said this week in a securities filing with the Securities and Exchange Commission that it has incurred $2.3 million in legal and other professional services costs relating to potential improper payments made by its Chinese manufacturing unit.
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PremiumPart Two: FCPA cases closed by DOJ, SEC since January
Since the start of the Trump Administration, the Department of Justice has been winding down a number of Foreign Corrupt Practices Act investigations with little public attention. This second article further explores how and why these FCPA matters have been closed.
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News BriefDOJ secures $118 million penalty in FCPA violation case tied to Guatemalan telecom firm
The parent company of a telecom subsidiary in Guatemala agreed to pay $118.2 million to settle allegations of improper payments made to government officials, but the U.S. Department of Justice chose not to impose a compliance monitor to administer the firm’s compliance with the Foriegn Corrupt Practices Act (FCPA).