All Foreign Corrupt Practices Act articles – Page 13
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Blog
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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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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Teva to pay $519M to settle FCPA charges
Teva Pharmaceutical Industries will pay $519 million to settle charges that it violated the FCPA; while global construction company Odebrecht and petrochemical company Braskem (both based in Brazil) will pay a combined penalty of $3.5 billion to settle the largest foreign bribery case in history. Jaclyn Jaeger reports.
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Laureate Education launches FCPA probe into charitable donation
Laureate Education, a for-profit higher education institution, said that it is conducting an internal investigation into possible violations of the U.S. Foreign Corrupt Practices Act concerning an $18 million donation that one of its network institutions made in Turkey to a charitable foundation. Jaclyn Jaeger has more.
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When charitable donations equal bribery
Bribes disguised as charity contributions may not be paving the road to hell with good intentions, but they come close. More from Jaclyn Jaeger.
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Cognizant self-discloses FCPA investigation
Cognizant Technology Solutions said in a recent regulatory filing that it is conducting an internal investigation to determine whether certain payments relating to facilities in India were made improperly and in possible violation of the U.S. Foreign Corrupt Practices Act.
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Compliance measures save Harris from FCPA prosecution
Jaclyn Jaeger explains how when Harris Corp. learned of internal FCPA violations, its reaction would provide a case study for compliance officers everywhere.
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Misonix discloses FCPA investigation
Medical-device maker Misonix said it voluntarily contacted the Securities and Exchange Commission and the U.S. Department of Justice this week to inform them about potential violations of the Foreign Corrupt Practices Act. Jaclyn Jaeger reports.
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Och-Ziff to pay $412M for FCPA violations
Och-Ziff Capital Management Group and wholly-owned subsidiary OZ Africa Management will pay $412M for the bribery of government officials in Africa—the first time a hedge fund has been accountable for FCPA violations. Jaclyn Jaeger has more.
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Weatherford to pay $140M for accounting fraud
Switzerland-based oilfield services giant Weatherford International will pay $140M to settle charges that it inflated earnings by using deceptive income tax accounting. Jaclyn Jaeger reports.
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Anheuser-Busch InBev settles FCPA case with SEC for $6M
Anheuser-Busch InBev today reached a $6 million settlement with the Securities and Exchange Commission for violations of the Foreign Corrupt Practices Act (FCPA) and for chilling a whistleblower who reported the misconduct. Jaclyn Jaeger reports.
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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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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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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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Harris: No DoJ action in FCPA case
Defense contractor Harris said last week in a quarterly filing that the Department of Justice has decided not to take any action following the completion of its investigation into potential violations of the Foreign Corrupt Practices Act. The SEC’s investigation remains ongoing.
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Newmont Mining discloses FCPA investigation
Newmont Mining said this week in a securities filing that it is conducting an investigation relating to certain business activities of the company, its affiliates, and contractors in countries outside the United States. The gold mining company added that the investigation includes a review of compliance with the U.S. Foreign ...
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Article
Carrots and sticks: A closer look at the FCPA Pilot Program
The Department of Justice has churned out a brief, but valuable, piece of guidance setting forth the details of a one-year FCPA enforcement pilot program, providing companies with much needed and long-awaited transparency into how the Criminal Division’s Fraud Section measures and credits voluntary self-disclosure and cooperation in FCPA investigations. ...
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Special report: Are FCPA actions merely a slap on the wrist?
Companies on the receiving end of an FCPA enforcement action often face monitoring, fines, and litigation as a result. But many times, what they don’t experience is a drop in their share price. In fact, among the largest FCPA violations on record, many companies saw no drop in share price. ...
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Las Vegas Sands pays $9 million for FCPA violations
Las Vegas Sands has agreed to pay a $9 million penalty to the Securities and Exchange Commission to settle charges that it violated the Foreign Corrupt Practices Act by failing to properly authorize or document millions of dollars in payments to a consultant facilitating business activities in China and Macao.
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Criminal Division launches new FCPA pilot program
Effective today, the Department of Justice’s Criminal Division has launched a one-year “pilot program” in the Fraud Section’s FCPA Unit as part of the agency’s effort to promote both transparency and accountability. At the end of the one-year pilot period, the Fraud Section will determine whether to extend or modify ...