Category Archives: FCPA
Stryker to pay $7.8 million fine to SEC for FCPA violations
Stryker SYK, -0.58% was fined $7.8 million by the Securities and Exchange Commission for what the agency said was the second Foreign Corrupt Practices Act action against the medical devices company. According to the SEC, Stryker’s internal accounting controls were not sufficient to detect the risk of improper payments in sales of products in… Read More »
FCPA Liability For Hiring Practices Gains New Credence
The U.S. Department of Justice and the U.S. Securities and Exchange Commission have stood by an expansive theory of anti-bribery liability under the Foreign Corrupt Practices Act for corrupt hiring schemes. Even as some still questioned the commitment of the Trump administration to enforcement of the FCPA, publicly traded Credit Suisse AG and its… Read More »
5 Takeaways From The ‘New’ FCPA Corporate Charging Policy
A new policy guiding when corporations can avoid criminal charges under the Foreign Corrupt Practices Act for bribing foreign officials formalizes what had been a U.S. Department of Justice experiment and gives some amount of certainty for companies, experts say. The FCPA corporate enforcement policy that Deputy Attorney General Rod Rosenstein announced on Wednesday… Read More »
Anticorruption Enforcement In Asia Proves FCPA Is Alive Under Trump
This past June, Chicago-based spirits manufacturer Beam Suntory Inc. agreed to pay more than $8 million to the U.S. government to resolve Foreign Corrupt Practices Act (FCPA) charges for improper payments by its Indian subsidiary to Indian government officials. Beam resolved the SEC’s civil charges without admitting or denying the allegations. This latest settlement… Read More »
Cos. Urged To Seek DOJ’s Opinion On M&A Bribery Risks
Law360 (July 26, 2018, 8:40 PM EDT) — A U.S. Department of Justice official has urged corporations looking to acquire a company with possible Foreign Corrupt Practices Act risks to take advantage of the DOJ’s FCPA opinion procedure — but attorneys working in the space say that’s not always an option. On Wednesday, Matthew… Read More »
The FCPA Corporate Enforcement Policy in Action-Part I
We had three major Foreign Corrupt Practices Act (FCPA) cases resolved in Q2 2018. They all reached different resolutions under the new FCPA Corporate Enforcement Policy and the new anti-piling on policy. I thought it might be interesting to review the matters and consider what differences led to the results under the new Department… Read More »
The FCPA Corporate Enforcement Policy in Action-Part II
How should a compliance practitioner use the information from these three Foreign Corrupt Practices Act (FCPA) enforcement actions going forward? Do the differing results in these three enforcement actions (Dun & Bradstreet [D&B], Panasonic Avionics [PAC] and Credit Suisse [CSAG] & [CSHK]) assist a company in incentivizing self-disclosure? Do they even come into the… Read More »
The Morning Risk Report: C-Suite on Hot Seat Over Bribery, Study Says
Senior executives are in the cross-hairs as the U.S. continues to crack down on individuals in corporate bribery cases, according to research published this week by a law firm. More than half of the people charged with violating the nation’s foreign-bribery law in the past 13 years worked near the top of the corporate… Read More »
U.S. charges 601 people in healthcare fraud, opioid crackdown
(Reuters) – The U.S. Justice Department on Thursday announced charges against 601 people including doctors and nurses for taking part in healthcare fraud and opioid-related crimes that resulted in more than $2 billion in losses. The arrests came as part of what the department said was the largest healthcare fraud takedown in U.S. history… Read More »
Foreign Corrupt Practices Act charges rise
Despite the change in administration, 20 individuals were charged with violating the U.S. Foreign Corrupt Practices Act in 2017, the second most individual prosecutions in a year since 1977, says a study. A total of 180 individuals, working for 81 different companies over the past 13 years, have been charged with FCPA violations, according… Read More »
