All FCPA articles – Page 31
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Blog
SciClone Could Pay SEC $12.8 Million in FCPA Case
SciClone Pharmaceuticals has disclosed in a quarterly report that it’s discussing a tentative $12.8 million settlement with the Securities and Exchange Commission to resolve an investigation of potential violations of the Foreign Corrupt Practices Act with respect to its China operations. Details inside.
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Blog
Ex-SAP Executive Pleads to FCPA Charges
The Justice Department and SEC jointly announced an enforcement action on Wednesday against a former executive of SAP International for violations of the Foreign Corrupt Practices Act by bribing officials in Panama to win government contracts. Vicente Eduardo Garcia, 65, will pay damages totalling $92,300 and faces sentencing later this ...
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Blog
The Man From FCPA Arrives
Today, I begin a blogging series for Compliance Week as The Man From FCPA. Our goal is to provide you with up-to-date information on all things related to the Foreign Corrupt Practices Act and anti-corruption overall. I will cover FCPA issues that have a U.S.-centric focus, and also other anti-corruption ...
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Blog
NCR Dodges FCPA Enforcement Action by SEC
NCR, an automated-teller machine company, recently announced that the Securities and Exchange Commission has decided not to recommend an enforcement action against it in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act. The allegations related to the company’s compliance with the FCPA and ...
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Blog
Vantage Drilling Company Self-Reports FCPA Probe
Offshore drilling contractor, Vantage Drilling Company, announced this month in a filing with the Securities and Exchange Commission that it has launched an internal investigation into potential violations of the Foreign Corrupt Practices Act. Vantage said it is investigating allegations in connection with an agent's "role in obtaining bribes on ...
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Blog
Mead Johnson Nutrition Pays $12M for FCPA Violations in China
Mead Johnson Nutrition will pay $12.03 million to settle civil charges that it violated books and records requirements of the Foreign Corrupt Practices Act when a China-based unit made improper payments at state-owned hospitals. The settlement, the result of an administrative proceeding, was detailed in an Offer of Settlement the ...
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Article
Q&A: How PetroTiger Avoided FCPA Prosecution
Image: As part of our occasional series of conversations with voices in the compliance world, we caught up with Timothy Treanor, a partner with law firm Sidley Austin who represented oil and gas company PetroTiger. In June, PetroTiger became just the second company in recent history of the Foreign Corrupt ...
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Blog
Louis Berger International to Pay $17.5 Million for FCPA Violations
U.S.-based construction management company Louis Berger International has reached a $17.1 million settlement with the Department of Justice to resolve charges that it violated the Foreign Corrupt Practices Act when it bribed foreign officials in Asia to secure government construction management contracts. Two of the company’s former executives also ...
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Blog
FCPA Actions Down, Declinations Up
The Justice Department and Securities and Exchange Commission resolved eight Foreign Corrupt Practices Act enforcement actions so far in 2015—the lowest mid-year total in a decade, according to recent analysis from law firm Miller & Chevalier. “This slow-down seems to be attributable, in part, to a greater emphasis on declinations ...
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Blog
Two South African Companies Dodge FCPA Charges
The Securities and Exchange Commission this month closed two separate investigations into potential violations of the Foreign Corrupt Practices Act without bringing any enforcement actions. Each investigation involved alleged bribery payments made by South African companies. Details inside.
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Article
Anti-Corruption Reforms Push Forward in Mexico
Mexico has moved forward again on its quest to strengthen anti-corruption laws there, adopting reforms to clear the path for government authorities to uncover and prosecute acts of corruption committed by companies, individuals, and government officials. More legislative work is ahead, but so far Mexico’s laws might even surpass the ...
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Blog
Eletrobras Investigating Possible FCPA Violations
Brazil’s state-run power company Eletrobras announced this week in a Form 6-K filing with the Securities and Exchange Commission that it has hired law firm Hogan Lovells to evaluate whether the company may have violated the Foreign Corrupt Practices Act, Brazil’s anti-corruption law, and Eletrobras’ Code of Ethics. Eletrobras said ...
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Blog
IAP Worldwide to Pay $7.1 Million in FCPA Case
Defense and government contracting company IAP Worldwide Services yesterday agreed to pay a $7.1 million penalty and entered into a non-prosecution agreement with the Department of Justice. The NPA requires IAP to “conduct a review of its existing internal controls, policies and procedures, and make any necessary modifications to ensure ...
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Blog
PetroTiger Exonerated From FCPA Prosecution
First, it was Morgan Stanley in 2012. Now, for only the second time in the history of the Foreign Corrupt Practices Act (at least, that's been publicly reported), the Department of Justice has exonerated a company from FCPA prosection, despite guilty pleas by three of its top executives. The Justice ...
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Article
Lessons From the BHP Billiton Case
Image: If compliance officers needed another reminder that the FCPA’s books-and-records provisions are still a dangerous trap for global businesses, look no further than the SEC’s recent $25 million fine against BHP Billiton. Observers say it offers valuable lessons in the SEC’s expansive interpretation of the law. “A check-the-box compliance ...
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Blog
FIFA Drops the Ball: Corruption and FCPA Charges
Last week, a 47-count indictment was unsealed in a federal court in Brooklyn, charging 14 defendants—all associated with the governing body of international soccer, the Fédération Internationale de Football Association—in connection with their participation in a 24-year scheme to enrich themselves through the corruption of international soccer. In a special ...
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Article
Survey: CCOs Lack Confidence in FCPA Financial Controls
Compliance officers do not have much confidence in their companies’ financial controls to catch books-and-records violations of the FCPA, according to a new report published by Compliance Week and Kroll. The finding was one of many included in the 2015 Anti-Bribery & Corruption Report, looking at all manner of anti-corruption ...
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Blog
No Charges in HyperDynamics FCPA Case
Oil and gas company HyperDynamics announced last week that the Department of Justice has decided not to file charges following the completion of its investigation into potential violations of the Foreign Corrupt Practices Act. "We are extremely pleased to be informed that the DOJ has closed its inquiry into this ...
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Blog
Managing FCPA Audits on a Global Scale
Enforcing anti-corruption policies among employees and third parties is one of the foremost concerns for compliance departments, but developing a robust process to assess and uncover bribery risks is not easy. At Compliance Week 2015, legal and audit executives with oil services giant Baker Hughes shared how they audit parties ...
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Pre-Gaming the Compliance Week 2015 Conference
Image: The Compliance Week 2015 conference started Monday, and as usual there were more than 500 compliance officers, audit executives, regulators, and other leading thinkers talking shop on all things ethics & compliance. Check our website frequently for updates. Meanwhile, here are Editor Matt Kelly’s personal picks for the most ...