The U.S. government has barred Singapore-based Glenn Defence Marine Asia Ltd. (GDMA) from new contracts following a Navy bribery scandal that named Glenn and its chief executive, Leonard Glenn Francis.
A federal lawsuit by the compliance officer for Siemens’ healthcare business in China who said he was fired for internally reporting FCPA violations was dismissed Monday. The U.S. District Court in New York said the anti-retaliation provisions of the Dodd-Frank Act don’t apply outside the United States.
Corporate compliance programs are no longer classified as “nice to have,” nor are they mere responses to allegations of wrongdoing. Some companies are going beyond mentioning how they have cleared their names with regulators after an investigation; they’re actively promoting the components of an effective strategy.