fcpa

You know those progress reports the OECD publishes from time to time about the anti-corruption enforcement among countries around the world? Well, the group just published its latest report on the United States and gave the country generally high marks.  That should come as no surprise to compliance officers, who have witnessed the U.S. government’s…

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fcpa

Here’s something you don’t see every day: the Justice Department hit spirits manufacturer Beam Suntory with a $19.5 million fine on Tuesday for a bribery scheme in India — where the company got an extra punch in the pocketbook for failure to cooperate fully or to coordinate the Justice Department FCPA investigation with a separate…

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internal control

Now that we’ve all had the weekend to contemplate the massive Goldman Sachs FCPA enforcement action from last week (because that’s how we all spend our free time, right?), let’s return to an issue that’s been on my mind since the settlement was announced.  How does a company strengthen an internal control, when that control…

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goldman

All right compliance professionals, it’s here: Goldman Sachs has agreed to pay $4.3 billion to settle corruption charges for its role in the 1MDB scandal — making Wall Street’s premier investment bank responsible for the largest criminal penalty in FCPA history.  U.S. regulators announced the news today, although rumors of a settlement had been swirling…

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JBS

Meat-processing giant JBS has agreed to pay $283.3 million to settle a brazen FCPA bribery scheme, with fascinating lessons for the compliance professional if you can endure the headache-inducing facts of the case.  The Justice Department and the Securities & Exchange Commission announced the settlement Wednesday. JBS’ parent company J&F Investments, headquartered in Brazil, pleaded…

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investigation

All you criminal procedure mavens out there might be interested in a ruling from a federal district court in New Jersey this week, where two business executives facing FCPA charges were quibbling over whether the Justice Department and the SEC conducted a “joint” investigation into their alleged crimes.  Apparently that question matters because the defendants…

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herbalife

Herbalife, that multi-level marketing business selling dietary supplements that absolutely totally isn’t a pyramid scheme, has agreed to settle FCPA charges by paying $123 million in disgorgement and penalties and accepting a deferred-prosecution agreement for three years.  Federal prosecutors announced the settlement Friday. It includes a $55 million criminal penalty going to the Justice Department,…

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fcpa

The Justice Department has published its first FCPA Opinion Release in six years, saying a U.S. investment adviser does not need to worry about paying a $237,500 fee to the banking subsidiary of a foreign government for services rendered. FCPA Opinion Releases are short Justice Department analyses of specific fact patterns that might leave a…

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fcpa

Some days the WTF-o-meter just doesn’t go high enough, and such is the case with the latest FCPA enforcement action from the Securities and Exchange Commission. Fellow compliance travelers, prepare yourselves.  The SEC dinged World Acceptance Corp., a consumer loan business based in South Carolina, for a bribery operation the company’s Mexico subsidiary ran in…

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ComEd

Commonwealth Edison, a subsidiary of energy giant Exelon Corp. and the largest utility in the state of Illinois, agreed Friday to pay $200 million to settle federal corruption charges that also involve one of the state’s most powerful politicians. The case is a reminder to compliance officers that FCPA-like misconduct can happen right here within…

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