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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-08-04T13:42:00
Chemical company Albemarle Corp. disclosed it is set to pay $218.5 million as part of proposed settlements reached with the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) regarding apparent violations of the Foreign Corrupt Practices Act (FCPA).
The settlements agreed to in principle would consist of fines, disgorgement, and prejudgment interest, Albemarle said in a quarterly filing Wednesday. The company would enter into a nonprosecution agreement with the DOJ and an administrative resolution with the SEC, neither of which would include the imposition of a compliance monitor.
Albemarle would also agree to certain ongoing compliance reporting obligations, the company disclosed.
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News and analysis for the well-informed compliance or audit exec.
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2023-09-29T15:11:00Z By Kyle Brasseur
Chemical company Albemarle was assessed penalties totaling more than $218 million as part of settlements with the Department of Justice and Securities and Exchange Commission addressing alleged violations of the Foreign Corrupt Practices Act across a handful of foreign countries.
2023-09-20T14:07:00Z By Adrianne Appel
A recent survey conducted by Compliance Week and Morgan Lewis determined areas of insufficient resource support to combat bribery and corruption, along with trends in third-party due diligence.
2023-08-25T17:10:00Z By Jeff Dale
The Securities and Exchange Commission ordered 3M to pay nearly $6.6 million for alleged violations of the Foreign Corrupt Practices Act regarding hidden travel perks its foreign subsidiary made to government officials in China.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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