Akzo Nobel Pays $2.9 Million For FCPA Violations Under the U.N. Oil for Food Program
Richard L. Cassin
December 22, 2007
Akzo Nobel N.V., a Netherlands-based pharmaceutical company, settled U.S. Foreign Corrupt Practices Act books and records charges with the U.S. Department of Justice and the Securities and Exchange Commission. With the SEC, Akzo Nobel consented to the entry of a final judgment permanently enjoining it from future violations of Sections 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934, ordering it to disgorge $1,647,363 in profits, plus $584,150 in pre-judgment interest, and to pay a civil penalty of $750,000.… Continue Reading
Pune, India was the site of a groundbreaking conference on December 16, 2007 about the U.S. Foreign Corrupt Practices Act. The first-ever FCPA compliance event to be staged in India was organized by 
Spiegel’s December 12, 2007 online edition has a fascinating interview with Peter Löscher (left), who became ceo of Siemens AG in July 2007. There’s lots for him to talk about. In October 2007, the German engineering and industrial giant settled global corruption charges with Munich prosecutors for €201 million, based on questionable payments of €420 million — an amount the company later revised upward to €1.3 billion.… 
The former chairman and ceo of Schnitzer Steel Industries, Inc. resolved charges on December 13, 2007 brought by the Securities and Exchange Commission under the U.S. Foreign Corrupt Practices Act. Robert W.… 
We’re getting into the spirit of the season, thankful for the many great blessings enjoyed during 2007. We won’t disappear completely during the holidays, but we’ll slow things down for a few weeks while we spend time with family and friends in other parts of the world.… 
By most counts, U.S. authorities are now investigating between 50 and 60 companies for possible violations of the Foreign Corrupt Practices Act. That’s a record number. How many of them will face enforcement actions is anyone’s guess.… 
We noticed a week ago that U.S. Department of Justice Opinion Procedure Release No.: 07-02 (September 11, 2007) is missing. It no longer appears on the DOJ’s website that indexes all FCPA Releases (
The question that lands most often in our mailbox is this: What are the elements of an effective Foreign Corrupt Practices Act compliance program? It’s a great question. While proactive compliance programs reduce the chances of violations, no one can guarantee that a violation will never happen.…