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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-11-30T20:54:00
The Department of Justice (DOJ) has made no secret about its incentives for companies to come forward with information on apparent corporate misconduct for the chance to earn discounted or reduced penalties—even a declination.
An example of a successful voluntary self-disclosure is U.K.-based insurance broker Jardine Lloyd Thompson Group Holdings (JLT). The firm was notified in March 2022 it would not face prosecution for alleged bribes paid to Ecuadorian government officials by an employee and other company agents after self-reporting to the DOJ, cooperating with the agency’s subsequent investigation, timely remediation, and agreeing to disgorge more than $29 million in ill-gotten gains.
Case closed for JLT. Cases opened for Tysers Insurance Brokers and H.W. Wood.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-05-22T20:55:00Z By Jeff Dale
The Department of Justice declined to prosecute Massachusetts-based biochemical company MilliporeSigma for its “extraordinary cooperation” in uncovering a “rogue” employee’s scheme to procure and ship discounted products to China using falsified export documents.
2024-02-12T14:45:00Z By Kyle Brasseur
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.
2023-12-04T18:00:00Z By Kyle Brasseur
Nicole Argentieri, acting head of the Department of Justice’s Criminal Division, breaks down where Albemarle, Tysers Insurance Brokers, and H.W. Wood went right—and wrong—on the cooperation credit and remediation fronts as part of their FCPA settlements with the agency.
2024-10-22T21:18:00Z By Adrianne Appel
Precision Toxicology has agreed to pay $27 million to settle allegations first brought by whistleblowers in three cases, that the company billed the federal government for unnecessary drug tests and paid kickbacks to doctors, the Department of Justice (DOJ) said.
2024-10-22T16:08:00Z By Aaron Nicodemus
Fund management company WisdomTree will pay $4 million to settle allegations by the Securities and Exchange Commission that it improperly invested in fossil fuel and tobacco companies in environmental, social and governance (ESG) funds despite promising to avoid them.
2024-10-18T18:10:00Z By Adrianne Appel
A Vietnamese alcohol company has agreed to pay $860,000 to settle allegations by the Office of Foreign Assets Control (OFAC) that its business with North Korea involved U.S. financial institutions.
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