All Department of Justice articles – Page 37
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Blog
Department of Justice guidance: ‘Evaluation of Corporate Compliance Programs’
With little fanfare, the Department of Justice last week published a list of sample topics and questions, entitled the “Evaluation of Corporate Compliance Programs.” Ethics and compliance officers will find the document useful as it provides a more explicit explanation as to what common questions the Fraud Section may ...
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Cobalt: Justice Department drops FCPA probe
Title: Cobalt: Justice Department droCobalt International Energy said the Department of Justice does not intend to recommend any enforcement action after looking into potential violations of the Foreign Corrupt Practices Act related to Cobalt's operations in Angola. The SEC reached a similar conclusion last year when it closed its investigation. ...
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Panasonic discloses FCPA probe
Panasonic, a Japanese multinational electronics company, today issued a statement disclosing that it’s being investigated for potential violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.
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Straddling the global enforcement pond
Matthew Reinhard discusses the complexities involved in navigating joint United States, United Kingdom investigations.
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Yates’ exile from Justice Dept. could fuel corporate uncertainty
President Trump has fired Acting Attorney General Sally Yates over her opposition to a ban on Syrian refugees. Companies should pay close attention to aftershocks that could affect government prosecutions and FCPA enforcement, writes Joe Mont.
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Las Vegas Sands pays $7M for FCPA violations
Las Vegas Sands agreed to pay a $6.96 million criminal penalty to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act. This resolution is in addition to the $9 million related civil penalty paid to the SEC in April. Jaclyn Jaeger reports.
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Chilean chemicals and mining company to pay $30.5M in FCPA case
Chilean chemicals and mining company Sociedad Química y Minera de Chile (SQM) agreed to pay a combined $30.5 million in criminal and civil penalties in connection with payments to politically connected individuals in Chile in violation of the Foreign Corrupt Practices Act. Jaclyn Jaeger has more.
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Deutsche Bank, Credit Suisse reach combined $12.5B settlements
Deutsche Bank and Credit Suisse last month agreed to pay a combined $12.5 billion in penalties related to the packaging, securitization, marketing, sale, and issuance of residential mortgage-backed securities, whereas Barclays and several of its U.S. affiliates are battling a civil complaint over similar claims. Jaclyn Jaeger reports.
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McKesson to pay $150M in prescription drug probe
Drug distributor McKesson will pay a record $150 million civil penalty for alleged violations of the Controlled Substances Act, the Justice Department announced today. The settlement also imposes new and enhanced compliance obligations, as well as an independent monitor—the first independent monitor of its kind in a CSA civil penalty ...
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Rolls-Royce responds to $800M global resolution in FCPA case
British engineering company Rolls-Royce has agreed to pay the United States nearly $170 million as part of an $800 million global resolution with U.S., U.K., and Brazilian authorities into a long-running bribery scheme. Jaclyn Jaeger reports.
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Debating ‘anything of value’ under the FCPA
Are U.S. enforcement agencies interpreting the term “anything of value” under the FCPA too broadly? Jaclyn Jaeger explores both sides of the debate.
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Moody’s to pay $864M arising from conduct leading up to financial crisis
Moody’s Investors Service, Moody’s Analytics, and their parent, Moody’s, have reached a nearly $864 million settlement agreement with the Department of Justice, 21 states, and the District of Columbia to resolve allegations arising from Moody’s role in providing credit ratings for residential mortgage-backed securities and collateralized debt obligations. Jaclyn Jaeger ...
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Volkswagen to pay $4.3B in emissions-cheating scandal
Volkswagen will plead guilty and pay a total of $4.3 billion in criminal and civil penalties resulting from the company’s long-running emissions-cheating scandal. In addition, six Volkswagen employees are indicted in connection with the conspiracy. Jaclyn Jaeger reports.
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ArticleAnti-corruption compliance lessons from Teva’s FCPA case
Teva Pharmaceuticals conducted bribery on a massive, international scale and became a case study for FCPA watchers everywhere. Jaclyn Jaeger reports.
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Greek authorities raid Novartis offices in bribery probe
Novartis is facing a fresh bribery probe, this time in Greece, where authorities there have raided the company’s offices searching for electronic documents and files. Jaclyn Jaeger reports.
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Banks reach final resolutions under Swiss Bank Program
The Department of Justice last week announced that it has reached final resolutions with banks that have met the requirements of the Swiss Bank Program, which provided a path for Swiss banks to resolve potential criminal liabilities in the United States, and to cooperate in ongoing investigations of the use ...
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General Cable to pay $76M in FCPA case
General Cable today agreed to pay a combined $76 million to resolve parallel investigations with the SEC and Department of Justice related to violations of the Foreign Corrupt Practices Act. The company agreed to pay an additional $6.5 million penalty to the SEC to settle separate accounting-related violations. Jaclyn Jaeger ...
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Odebrecht, Braskem to pay record $3.5B in global bribery case
Global construction company Odebrecht, based in Brazil, and Brazilian petrochemical company Braskem pleaded guilty yesterday and agreed to pay a combined total penalty of at least $3.5 billion—the largest foreign bribery case in history, according to the U.S. Department of Justice. Jaclyn Jaeger has more.
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Forest Labs to pay $38M for False Claims Act violations
Forest Laboratories and its subsidiary, Forest Pharmaceuticals, have agreed to pay $38 million to resolve allegations that they violated the False Claims Act by paying kickbacks to induce physicians to prescribe its drugs. Jaclyn Jaeger has more.
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Petrobras probe showcases global enforcement efforts
Brazil’s massive anti-corruption efforts are having a global impact, but self-serving politicians threaten to grind the entire thing to a halt. Jaclyn Jaeger reports.