- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-03-29T18:46:00
Swedish telecommunications company Ericsson announced its independent monitor appointed by the Department of Justice (DOJ) certified its anti-corruption compliance program satisfies the requirements ordered by the U.S. agency.
The certification is a requirement to end the company’s monitorship and a condition as part of its deferred prosecution agreement (DPA) with the DOJ, Ericsson said in a press release Thursday. The monitorship, which originated from historical violations of the Foreign Corrupt Practices Act (FCPA), is expected to conclude June 2.
The monitor team accessed the company’s board, executives, employees, global operations, and books and records during its four-year engagement. Its final certification included “an assessment of the board of directors’ and senior management’s commitment to, and effective implementation of, the corporate compliance program,” Ericsson said in the release.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
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.
Swedish telecommunications giant Ericsson announced the conclusion of the independent compliance monitorship imposed on the company following its 2019 settlement for violations of the Foreign Corrupt Practices Act.
Ericsson shook up its reporting structure with the promotion of Head of Corporate and Government Investigations Rebecca Rohr to chief compliance officer.
Recent enforcement actions offer guidance on what the Department of Justice considers to be an “imminent threat” of disclosure or government action, what it means by “prompt” disclosure, and how a company can earn credit for revealing all relevant facts.
Former Albemarle CCO Andrew McBride explained at Compliance Week’s 2024 National Conference how he led the company’s compliance department to remediate the issues that led to apparent FCPA violations and how the team used data analytics to assess risks and implement compliance solutions.
Andrew McBride, former chief risk and compliance officer at chemical company Albemarle Corp., joins the Compliance Week podcast with Aaron Nicodemus to preview his session at CW’s National Conference in Washington, D.C.
Kenya was one of two African countries included in the Financial Action Task Force’s latest update to its list of jurisdictions under increased monitoring for money laundering and terrorist financing, while the United Arab Emirates was among four countries removed.
