- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
U.K.-based company TechnipFMC disclosed in a regulatory filing that it has set aside $280 million, which it says is a “probable estimate” of the aggregate settlement amount with U.S., Brazilian, and French authorities in a global bribery case.
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TechnipFMC, a global oil and gas services provider, has reached a $5 million settlement with the SEC for violations of the books-and-records and internal accounting controls provisions of the FCPA.
TechnipFMC and its wholly owned U.S. subsidiary Technip USA will pay a combined $301.3 million settlement to resolve foreign bribery charges with authorities in the United States and Brazil.
Whether you’re a multinational telecommunications company looking to certify your anti-corruption program post-settlement, or a biochemical company victimized by a “rogue” employee, seeing the light at the end of the enforcement tunnel isn’t always easy.
