Earlier this week, when the DOJ and SEC charged Garth Peterson with FCPA violations, both agencies publicly announced that they had declined to prosecute or charge his employer, Morgan Stanley, because of its strong compliance program.… Continue Reading
Since the Walmart saga became news earlier this week, well-meaning people have been asking the question:
Why do we have the FCPA?
Bribery is a way of life in lots of places, they say.… Continue Reading
From the China Compliance Digest (Issue No. 12: April 23, 2012):
In response to Chinese premier Wen Jiabao’s call for government officials to curtail unnecessary spending, media both within and outside China are devoting an unprecedented amount of attention to the mainland’s many ultra-expensive luxury goods.… Continue Reading
Garth R. Peterson, a managing director in Morgan Stanley’s real estate investment and fund advisory business in China, pleaded guilty today to a one-count criminal information charging him with conspiring to evade internal accounting controls that Morgan Stanley was required to maintain under the FCPA.… Continue Reading
Samuel Rubenfeld at the Wall Street Journal reported the sentencing today of Juan Pablo Vasquez, a former executive at Latin Node Inc.
He received three years probation and a $7,500 fine after pleading guilty in January last year to conspiring to violate the FCPA.… Continue Reading
AlixPartners recently surveyed large multinationals about their compliance programs. Our goal was to better understand the ways in which companies are identifying and addressing corruption risk.
Some key findings:
- Two-thirds said that they have reassessed anti-corruption efforts due to Dodd-Frank and the U.K.