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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jaclyn Jaeger2022-09-01T15:04:00
A Foreign Corrupt Practices Act case that has been the center of a back-and-forth court battle for nearly a decade appears to have come to an end, giving chief compliance officers and in-house counsel at least some degree of finality regarding the jurisdictional scope of the FCPA.
In United States v. Hoskins, a divided three-judge panel for the U.S. Court of Appeals for the Second Circuit held on Aug. 12 the foreign national at the heart of the case had not acted as an “agent of a domestic concern” and thus fell outside the extraterritorial reach of the FCPA.
The underlying dispute concerned FCPA charges brought by the Department of Justice (DOJ) in 2013 against Lawrence Hoskins, a U.K. citizen and former senior executive at the British subsidiary of French power and transportation company Alstom.
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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.
2022-12-05T16:19:00Z By Aaron Nicodemus
ABB agreed to pay $327 million in penalties to settle coordinated charges it paid bribes to win South African energy contracts. The company entered into a three-year deferred prosecution agreement with the DOJ for violations of the Foreign Corrupt Practices Act.
2022-10-13T13:46:00Z By Jaclyn Jaeger
The most notable and relevant details in settlement agreements concerning regulatory compliance violations are often what is not stated. The SEC’s cease-and-desist order against Oracle over violations of the Foreign Corrupt Practices Act is no exception.
2022-10-13T12:34:00Z By Neil Hodge
Only the United States and Switzerland can be considered “active enforcers” in tackling foreign bribery, while countries like the United Kingdom and Israel have taken a step back, according to the latest report from Transparency International.
2024-12-10T18:35:00Z By Adrianne Appel
A lack of supervision and internal controls at Morgan Stanley Smith Barney allowed four of its investment advisers to steal millions from customers before the behavior was detected, the SEC said in charging the firm.
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.
2024-12-06T12:45:00Z By Jaclyn Jaeger
A defamation lawsuit filed by a whistleblower against USAA, which a Florida judge recently dismissed on a technicality, revealed in public court records an estimated 400,000 violations of the Military Lending Act by USAA Federal Savings Bank (USAA Bank), an indirect wholly owned subsidiary of USAA.
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