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Posts Tagged ‘FCPA’

DOJ on FCPA and Agent Liability

liability

The Justice Department’s top criminal prosecutor talked FCPA compliance at conference in Washington this week, raising a few points to consider about oversight of third parties and the importance of compliance program. Let’s get into them.  Assistant attorney general Brian Benczkowski, head of the Criminal Division, made his remarks at the annual FCPA Conference happening…

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TRACE Corruption Rankings for 2019

rankings

TRACE International has published its annual rankings of corruption in countries around the world. As usual, New Zealand and the Nordic countries are the least corrupt places to do business, while failed states such as Somalia, North Korea, Yemen, and Venezuela are the worst.  The 2019 data is available on the TRACE website as of…

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New Guidance on Inability to Pay Penalties

inability

The Justice Department has published fresh guidance about how it will evaluate a company’s claims that it can’t afford to pay monetary penalties, for all you legal and compliance officers trying to convince everyone that your firm lives in the poorhouse.  Assistant attorney general Brian Benczkowski announced the new guidance Tuesday while giving a speech…

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Graphics Firm Draws $10M FCPA Settlement

fcpa

A global printing and graphics business based in Wisconsin has agreed to pay $10 million to settle FCPA charges with the Securities and Exchange Commission, in an eye-popping case with misconduct that included bribes to judges, sales to Cuba, and just about every corporate compliance mistake a company could make. The company in question is…

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Juniper Networks Hit on FCPA Charges

Juniper Network has agreed to pay $11.7 million to settle FCPA charges with the Securities and Exchange Commission, the latest in a string of cases where a company’s overseas subsidiaries exploited weak oversight of accounting policy to create slush funds for bribes. Let’s take a look. According to the SEC settlement order, the bribery happened…

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Dealers, Drugs, and FCPA Insight

dealers

I always welcome questions from compliance and audit professionals, and the following came to me last week: “What type of third party falls under ‘dealer’ for FCPA purposes?” The compliance officer who posed this question works at a company under settlement with the Justice Department for overseas bribery. He’s building up the company’s third-party oversight…

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FCPA Issues Nick Microsoft $25M

Microsoft has agreed to pay $25.3 million to settle FCPA charges against subsidiaries in Hungary, Saudi Arabia, Thailand, and Turkey — the latest in a long line of cases where poor procedures to document sales discounts offered by local resellers paved the way for bribery of foreign government officials.  Microsoft will pay $16.5 million to…

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Real Meaning of the Walmart Case

Walmart fcpa

All weekend I’ve contemplated what to say about Walmart’s FCPA settlement. Quick minds in ethics and compliance have already pumped out paragraph after paragraph dissecting the case, and more minds will pump out more paragraphs still, before everything is said about this landmark case. Except, the Walmart case isn’t a landmark, really. Read the statement…

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New Compliance Evaluation Guidelines

compliance

The Justice Department released Tuesday a fresh set of guidelines on how prosecutors should evaluate corporate compliance programs: a much longer document, with more narrative explanation about what the Justice Department considers important. Compliance professionals should prepare to obsess over it like last Sunday’s Game of Thrones episode. Assistant attorney general Brian Benczkowski unveiled the…

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More Cognizant FCPA Lessons

liability

Now that we’ve had a long weekend to digest the FCPA enforcement action imposed against Cognizant Technologies last week, compliance officers have a lot more consider here. In many ways what happened with Cognizant is an excellent case-study for corporate ethics and compliance done right, with a few points to ponder about potential risks to…

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