All FCPA articles – Page 22
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Blog
Harris declinations: A landmark FCPA case?
The SEC will not take action against Harris Corp. for FCPA violations, but has brought charges against a former Harris executive for bribing Chinese government officials to obtain business. Jaclyn Jaeger explores.
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Blog
Memo to Telia, Deutsche Bank: Do not negotiate with the DOJ in public
While Telia Co. and Deutsche Bank are looking to publicly war with the Justice Department over upcoming penalties, they should be learning by Avon Product’s example, says Tom Fox—the firm initially suggested a $12M fine and ended up paying a cool $135M.
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Why pre-acquisition due diligence and post-acquisition remediation are so critical
Tom Fox looks at a recent SEC settlemenf for and FCPA enforcement action against Jun Ping Zhang, which makes clear the need for robust pre-acquisition due diligence.
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Telia faces $1.4 billion fine for corruption in Uzbekistan
U.S. and Dutch authorities have proposed a $1.4 billion settlement with Swedish telecom firm Telia to resolve corruption violations relating to its transactions in Uzbekistan, making it possibly one of the largest Foreign Corrupt Practices Act fines to date. Jaclyn Jaeger reports.
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Cisco Systems FCPA probe ends in declinations
Networking giant Cisco Systems announced in its annual report that it will not face any enforcement actions in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act concerning its operations in Russia. Jaclyn Jaeger reports.
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Article
Compliance clauses can keep third parties in line, regulators at bay
Even small companies have gone global and rely on a broad network of business partners. Those relationships, however, bring with them risks and potential regulatory hazards. Joe Mont discusses adding compliance and ethics clauses to contracts as a baseline for any third-party relationship.
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AstraZeneca settles FCPA case with SEC for $5.5M
Biopharmaceutical-company AstraZeneca has reached a $5.5 million settlement with the SEC to settle claims that it violated the Foreign Corrupt Practices Act by making improper payments to state-controlled healthcare providers in China and Russia. Jaclyn Jaeger reports.
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Internationalization of football and anti-corruption enforcement
Tom Fox explores the recent bid by a Chinese state-controlled investment fund to purchase the Liverpool Football Club and how it will be impacted by the U.K. Bribery Act.
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Do the FCPA rules make sense?
How many rules are too many? How complicated are the rules to follow? These are questions Tom Fox explores in the context of the Foreign Corrupt Practices Act. Fortunately, the answer, he says, is quite simple—do not pay bribes.
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Target and Walmart show that supply chain risk is everywhere
The bigger the company, the bigger the supply chain risk. Just ask Target and Walmart, which recently had to confront this issue head-on over fake Egyptian cotton bedsheets. More from Tom Fox.
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BlogDeutsche Telekom to study its ethics and compliance culture
Deutsche Telekom is working to boost ethical behavior and foster a speak-up culture within the company to minimize compliance risks. Jaclyn Jaeger reports.
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In the FCPA World, your relationships matter
Do you know the character of those you are in business with from an anti-corruption perspective? Tom Fox looks at the Och-Ziff corruption scandal and what happens if you bring corrupt third parties into a relationship with your company.
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Orthofix braces for SEC settlement in FCPA case
Orthofix International has recorded a charge of $4.6 million in the second quarter of 2016 to resolve potential FCPA charges with respect to its subsidiary in Brazil. Jaclyn Jaeger has more.
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SEC: Key Energy to pay $5 million in FCPA case
Key Energy Services will pay $5 million to the SEC in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger has more.
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The SEC’s summer reading list is not for the faint of heart
Robert Herz reviews the SEC’s recent accounting and enforcement releases, which reveal familiar patterns in corruption, as well as a commitment by the SEC to commence enforcement actions on any accounting and reporting violations it finds.
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An employee suicide and corporate culture
The Man From FCPA Tom Fox examines the recent suicide of an executive with Abbot Laboratories in India and what happens when the numbers are more important than employees’ well-being.
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The FCPA as an economic tool
The FCPA is rarely considered as an economoic tool. But as a means of fighting corruption, however, it also helps to improve market efficiency.
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Article
Amid corruption scandals, compliance booms in Brazil
It might seem that corruption scandals are one of Brazil’s leading exports this year, but amid renewed government anti-bribery enforcement efforts, the country’s compliance sector is growing by leaps and bounds. Rodrigo Amaral has more.
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Blog
DoJ sends clear signal in the LATAM/LAN FCPA enforcement action
A recent Foreign Corrupt Practices Act case found LATAM Airlines Group shouldering a heavy burden, paying out approximately $22.2 million in penalties. The significant costs, notes Tom Fox, seems to imply the Justice Department’s FCPA Pilot Program is working.
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Blog
Anti-corruption efforts slowly gain steam in Latin America
A majority of executives in Latin America may think their country’s anti-corruption laws are ineffective, but a recent survey by law firm Miller & Chevalier and 13 partner firms based in the region offers evidence of region-wide improvements in corporate compliance measures. Joe Mont has more study details.