We’re exercising our Friday liberty to post a story that’s not about the Foreign Corrupt Practices Act — at least not yet. It’s about a world-class financial institution — a market leader with 80,000 employees in 50 countries, the heavyweight champ of global wealth management — that allowed its sales force to run wild and in the process trample numerous U.S.… Continue Reading
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The joint venture and all its personnel shall comply in all respects with the requirements of the United States Foreign Corrupt Practices Act.
Foreign organizations in China have been vexed for years by the need to pay or reimburse Chinese journalists who attend local press events. The journalists can’t afford to travel on their own and their employers don’t reimburse them.… Continue Reading
The FCPA matters because public corruption and poverty walk hand-in-hand. The point is illustrated too well by conditions in Bangladesh, a perennial basket case in the world economy. Here are some facts:
- Bangladesh ranked 162nd on Transparency International’s 2007 Corruption Perception Index.
The always-helpful D & O Diary has a great post about FCPA-related civil litigation here. The topic is big news these days, with interest spurred by front-page suits brought by alleged victims of overseas public corruption — most lately the government of Iraq, Bahrain’s Alba and Denver oilman Jack Grynberg.… Continue Reading
The government of Iraq filed a civil suit in late June in federal district court in New York City against two individuals and about 50 companies and some of their related firms for bribery that allegedly occurred under the United Nations oil-for-food program.… Continue Reading
A report yesterday from Dow Jones said the United States has dropped its sputtering prosecution of David B. Pinkerton on charges of conspiring to violate the Foreign Corrupt Practices Act.
The government had alleged that in June 1998, as the head of AIG Global Investment Corp.,… Continue Reading