All articles by Tom Fox – Page 19
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The Samsung corruption scandal—an unrecognized cost
The past year was particularly bad for Korean electronics giant Samsung, and it looks like 2017 has gotten off to the same rough start. Tom Fox looks at the recent arrest of Lee Jae-yong, vice chairman of Samsung Electronics, on charges of bribery, embezzlement, and perjury.
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Spain and the fight against royal corruption
A guilty verdict that sent the brother-in-law of the King of Spain to jail for fraud could signal that Spain is getting serious about corruption. Tom Fox says it was the first time a member of the Spanish royal family had been forced to stand trial, a move widely applauded ...
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A South American response to corruption
In a very interesting development from the Odebrecht corruption scandal, federal prosecutors in Brazil and ten other countries recently announced they had agreed to cooperate in ongoing investigations surrounding the company, writes The Man From FCPA Tom Fox.
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On the evaluation of corporate compliance programs
Tom Fox looks at the Justice Department’s “Evaluation of Corporate Compliance Programs,” an 11-part list of questions that encapsulates the Justice Department’s most current thinking on what constitutes a best practices compliance program.
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Global anti-corruption enforcement numbers going up
Tom Fox discusses the reasons behind the rise in anti-corruption enforcement and the latest actions by the Securities and Exchange Commission and Department of Justice.
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The Fourth Estate and the fight against corruption
‘When one plank of the fight against bribery and corruption’ falters, the media steps in. Tom Fox looks at the press’s role in fighting crime.
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Why bribery is bad for business
The Man From FCPA Tom Fox explores what happens when a company’s foundation is shaky and illegal.
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Individual prosecutions as deterrence
Perhaps it’s not the penalties and fines, but rather the individual prosecutions that deter bad behavior. The Man From FCPA Tom Fox reports.
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Romanians take a stand against corruption
What does the Romanian people's revolt against igovernment's proposal to decriminalize bribery and corruption within the country mean on a larger scale? The Man From FCPA Tom Fox says they have earned the right to say to Washington: “the whole world is watching.”
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Massive fraud at BT Italia—the work of a few rogue employees?
The BT Italia scandal involved failures at all three levels of defense in the fraud arena: management, internal audit, and outside auditors. The Man From FCPA Tom Fox explores.
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Brazil’s once wealthiest man arrested in continued Car Wash fallout
Tom Fox has the details on the arrest of Eike Batista, once the wealthiest man in Brazil, who stands accused of paying significant bribes to the former governor of Rio de Janeiro state as part of the country’s landmark investigation into bid-rigging at state-controlled oil company Petrobras.
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Wells Fargo fallout: More board oversight of risk management?
The Wells Fargo fraudulent accounts scandal is enforcing a good trend: shareholder activism directed at the board for better risk management. Tom Fox reports.
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Hosted hunting trips in Sweden and Texas
Tom Fox explores the ethical implications of hosted hunting trips and specifically the case of Fredrik Lundberg, chairman of Sweden-based Industrivarden, and Anders Borg, the former finance minister of that country, who was given just such a trip by Lundberg.
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VW: Fraud at the top?
More bad news for Volkswagen, as German authorities have expanded their investigation to 37 individuals from 21, including former CEO Martin Winterkorn. Tom Fox reports.
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The optics couldn’t be worse—VW departs its CCO
Barely a year after Christine Hohmann-Dennhardt took the position of head of compliance at Volkswagen, she is leaving the company. The Man From FCPA Tom Fox reports.
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China continues to be a source for FCPA violations
An astounding 16 corporate FCPA enforcement actions in 2016 were derived from China, leading The Man From FCPA Tom Fox to explore how to tackle business relationships with the complex country.
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Anything of value really means anything
Tom Fox explores recent cases that fall under the FCPA “anything of value” standard, including JPMorgan Chase, Rolls-Royce, VimpelCom, and Qualcomm.
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How General Cable’s FCPA mess looks to the past and the future
General Cable’s sprawling FCPA enforcement action seemed to go everywhere at once. Tom Fox explains.
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Wither the attorney-client privilege?
Attorney-client privilege is once again under siege, writes Tom Fox—this time in a lawsuit being brought by the former general counsel of Bio-Rad, Sanford Wadler, who is suing his former employer for wrongful termination.
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Disparaging a speak-up culture
Tom Fox explores the recent case of JPMorgan Chase when an employee’s former manager added material to a terminated employee’s file post termination to beef up the excuses for the termination. Not a good sign, says Fox, and possibly a sign of an ineffective compliance program.