Insurance broker Gallagher latest target of DOJ Ecuador probe
By 
Adrianne Appel2022-11-07T20:56:00
Insurance broker Arthur J. Gallagher is under investigation by the Department of Justice (DOJ) related to its business in Ecuador, the company told the Securities and Exchange Commission on Nov. 2.
The Foreign Corrupt Practices Act (FCPA) unit of the DOJ delivered a subpoena to Gallagher during the second quarter of 2022, “seeking information related to our insurance business with public entities in Ecuador,” the company said in its financial Form 10-Q for the period that ended Sept. 30.
The company declined to comment about the subpoena, a spokesperson said in an email. Gallagher, which brings in more than $6 billion in annual revenue, has 850 offices worldwide, including one in Guayaquil, Ecuador.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefInsurance broker Gallagher off hook in DOJ FCPA probe
Arthur J. Gallagher disclosed the Department of Justice ended an investigation into the insurance broker’s business in Ecuador for potential violations of the Foreign Corrupt Practices Act.
-
News BriefBritish reinsurers Tysers, H.W. Wood settle with DOJ over Ecuador bribes
Two U.K.-based reinsurance brokers, Tysers Insurance Brokers and H.W. Wood, reached separate settlements with the U.S. Department of Justice addressing their participation in a wide-ranging scheme to pay bribes to Ecuadorian government officials.
-
ArticleDOJ makes good on corporate-friendly enforcement policy with Balt resolution
The ink was barely dry on the U.S. Department of Justice’s new corporate enforcement policy (CEP) when the agency announced it would not prosecute Balt SAS for alleged bribery violations.
More from Regulatory Enforcement
-
ArticleBoA settles class-action related to its dealings with Jeffrey Epstein
Bank of America has agreed to settle a class-action lawsuit alleging know-your-customer and other failings in its dealings with convicted sex offender Jeffrey Epstein.
-
News BriefSEC’s Uyeda: ‘Enforcement is the wrong way’ to handle off-channel communications
The U.S. Securities and Exchange Commission’s Mark Uyeda told an audience of investment advisers that the SEC will no longer prioritize stand-alone enforcement actions for violations of the SEC’s rules on off-channel communications.
-
News BriefAdobe agrees to $150M settlement over alleged cancellation fee violations
Adobe agreed to a $150 million settlement with the U.S. Department of Justice over accusations that it concealed software termination fees and made it difficult for customers to cancel.