- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2022-12-06T21:31:00
Swiss-based commodity trading and mining company Glencore agreed to pay $180 million to the government of the Democratic Republic of the Congo (DRC) to settle claims arising from alleged corrupt practices that took place for more than a decade.
The agreement, announced Monday, covers “all present and future claims arising from any alleged acts of corruption by the Glencore Group in the DRC between 2007 and 2018,” including those already investigated as part of probes by the U.S. Department of Justice (DOJ) and the DRC’s National Financial Intelligence Unit and Ministry of Justice, among others, the company said.
The settlement is the third Glencore has finalized this year. Collectively, the penalties are in line with the company’s expectation—as stated in its 2021 annual report—a provision of $1.5 billion would likely resolve all the regulatory investigations it faced.
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Glencore Energy UK was ordered to pay nearly £281 million (U.S. $314 million) in fines and costs after an investigation by the U.K.’s Serious Fraud Office (SFO) found it paid $29 million in bribes to gain preferential access to oil in Africa to boost profits.
Glencore International AG, one of the world’s largest commodity traders, will be placed under a three-year compliance monitorship and pay more than $1 billion to resolve multiple investigations into alleged bribes paid in several countries over more than a decade.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
A Minnesota transportation company agreed to pay nearly $258,000 to settle allegations that a subsidiaries violated sanctions against Cuba and Iran more than 80 times, the U.S. Treasury Department’s Office of Foreign Assets Control said.
