- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-02-28T14:52:00
Stanley Black & Decker voluntarily disclosed to federal regulators its international division might have violated the Foreign Corrupt Practices Act (FCPA).
In its annual report published Thursday, the Connecticut-based tool manufacturer said it “identified certain transactions relating to its international operations that may raise compliance questions under the [FCPA].”
The company said it voluntarily disclosed the information to the Department of Justice (DOJ) and the Securities and Exchange Commission. Stanley Black & Decker said it is “cooperating with both agencies in their investigations” and it has hired professional advisers to review and further enhance “relevant policies, procedures, and controls.”
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Tool manufacturer Stanley Black & Decker avoided a civil penalty in settling with the Securities and Exchange Commission regarding alleged violations of executive perk disclosure rules.
U.K.-based mining and minerals company Rio Tinto will pay a $15 million fine to settle charges of violating the Foreign Corrupt Practices Act when it entered into a scheme with a consultant in 2011 to bribe government officials in Guinea.
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