- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-10-15T17:05:00
A company culture geared to “win business at any cost” encouraged employees of New York-based aerospace manufacturer Moog to pay bribes in India to win contracts, the Securities and Exchange Commission alleged.
Moog agreed to pay nearly $1.7 million in penalties and fines to settle allegations that its Indian subsidiary, Moog Motion Controls Private, violated the Foreign Corrupt Practices Act (FCPA) numerous times from 2020-22, the SEC announced in a press release Friday.
The enforcement action continues a busy year for FCPA enforcement by the SEC and Department of Justice (DOJ), which have also shown a willingness to reduce penalties and even decline to prosecute violations that are self-reported.
2024-12-06T17:31:00Z By Aaron Nicodemus
A subsidiary of McKinsey & Co. will pay nearly $123 million to the Department of Justice to settle allegations that it bribed officials in South Africa to win consulting contracts.
2024-11-11T17:09:00Z By Aaron Nicodemus
A subsidiary of Spanish telecommunications provider Telefónica S.A. will pay $85.2 million to settle a charge that it violated the Foreign Corrupt Practices Act when it paid bribes to Venezuelan officials to gain preferential access to a currency auction.
2024-09-25T20:22:00Z By Aaron Nicodemus
Aviation maintenance services provider AAR Corp. disclosed that several former employees may have bribed officials in Nepal and South Africa to win contracts, and chose to self-report violations of the Foreign Corrupt Practices Act to authorities in the U.S. and U.K.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
2025-06-19T19:28:00Z By Ruth Prickett
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
2025-06-16T18:04:00Z By Neil Hodge
Trying to put rules in place to oversee an industry that has grown largely outside of regulation is not without serious challenges. But the UK’s Financial Conduct Authority’s (FCA) latest consultation aims to attract industry views about how some key aspects of crypto trading should be regulated ahead of planned ...
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