Foreign Corrupt Practices Act News
May 17, 2013
New York Times |
May 17, 2013
Corruption is a growth business. Bribery scandals have dominated headlines in several countries in recent months, among them India and Nigeria. International enforcement of antibribery laws has been increasing in the United States and major European countries.
Bloomberg |
May 17, 2013
Wal-Mart Stores Inc. can’t block investors from using publicly disclosed internal files in lawsuits that claim directors failed to properly oversee executives accused of bribing Mexican officials, a judge said.
WSJ.com Risk and Compliance Journal |
May 17, 2013
China-based Rino International Corp. and two of its executives agreed to settle a lawsuit with U.S. regulators over allegations that the executives looted more $3.5 million in company assets and violated the accounting provisions of a U.S. anti-bribery law.
May 16, 2013
WSJ.com Risk and Compliance Journal |
May 16, 2013
The charges brought last week against traders at New York-based broker-dealer Direct Access Partners for allegedly arranging a multimillion dollar bribery scheme appear to be first to emanate out of one of the Securities and Exchange Commission’s periodic examinations, perhaps signalling a new front in the U.S. war on foreign corruption.
Main Justice |
Subscription Required |
May 16, 2013
Former BizJet International Sales and Support Inc. executives Neal M. Uhl and Peter R. DuBois were caught in a corporate culture that encouraged corruption, U.S. District Judge Gregory K. Frizzell said during April 5 sentencing hearings.
May 15, 2013
FCPA Professor |
May 15, 2013
As highlighted in my article, “What Percentage of DOJ FCPA Losses is Acceptable?” bringing criminal charges and marshalling the full resources of law enforcement agencies against an individual alters the lives of real people and their families, sidetracks real careers, empties real bank accounts in mounting a defense, and causes often irreversible damage to real reputations. The manufactured Africa Sting case also had a negative impact on companies that employed the individuals charged in the case.
May 14, 2013
National Law Journal |
Subscription Required |
May 14, 2013
Several court decisions in trials under the Foreign Corrupt Practices Act during the first quarter of 2013 have tested the enforcement positions of the U.S. Securities and Exchange Commission on some critical issues, including jurisdiction, the application of relevant statutes of limitations and the agency's burden to plead specific elements of a violation. The results for the agency have been mixed, although the decisions produced only one case dismissal.
National Law Journal |
Subscription Required |
May 14, 2013
The pace of international law enforcement cooperation in the anti-corruption setting has quickened since 2009. Even so, there is a widespread perception among in-house counsel that Western regulators — including the U.S. Department of Justice and Securities and Exchange Commission — cannot easily pursue anti-corruption matters that require significant assistance from their foreign counterparts, particularly those in the developing world.
National Law Journal |
Subscription Required |
May 14, 2013
Undercutting Latin America's promising economic trends and glittering world events are the complex anti-corruption compliance challenges companies face when operating in the region.
May 13, 2013
National Law Journal |
Subscription Required |
May 13, 2013
When apparel maker Ralph Lauren Corp. first discovered that one of its employees had been bribing custom officials in Argentina, the company immediately notified the U.S. government, offering its employees for interviews and turning over documents. In exchange, Ralph Lauren on April 22 obtained nonprosecution agreements with both the U.S. Justice Department and the U.S. Securities and Exchange Commission. The company agreed to pay about $1.6 million in penalties to resolve claims that it violated the Foreign Corrupt Practices Act.
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