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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-04-26T19:46:00
Dutch oilfield services provider Frank’s International agreed to pay nearly $8 million as part of a settlement with the Securities and Exchange Commission (SEC) for allegedly paying bribes to influence oil drilling contracts in Angola.
Now known as Expro Group Holdings N.V., Frank’s violated the Foreign Corrupt Practices Act (FCPA) when it paid commissions to an Angolan sales agent from 2008-14, the SEC alleged. Company employees knew the agent was likely to use the funds to bribe Angolan officials to secure contracts for Frank’s, the agency said Wednesday in an administrative proceeding.
Without admitting or denying the SEC’s allegations its actions violated the anti-bribery, books and records, and internal accounting controls provisions of the FCPA and SEC regulations, the company agreed to pay disgorgement plus prejudgment interest totaling $4,998,721, a $3 million civil penalty, and to cease and desist from future violations.
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2023-05-30T17:30:00Z By Aaron Nicodemus
Gartner agreed to pay nearly $2.5 million as part of a settlement with the Securities and Exchange Commission addressing alleged violations of the Foreign Corrupt Practices Act in South Africa.
2023-05-12T14:19:00Z By Aaron Nicodemus
Dutch conglomerate Royal Philips will pay more than $62 million to settle allegations it violated the Foreign Corrupt Practices Act when its subsidiaries engaged in improper conduct to win contracts in China.
2023-05-03T21:13:00Z By Adrianne Appel
Stryker disclosed it is investigating whether certain of its business activities might have violated the Foreign Corrupt Practices Act. The company previously settled Securities and Exchange Commission charges of violating the FCPA twice in the last decade.
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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