Is this the world’s best compliance disclosure?
Richard L. Cassin
March 13, 2013
Texas-based oil and gas services firm Baker Hughes once held the record for the biggest FCPA settlement of all time.
Editors
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Search Results for: label/Baker Hughes
Another FCPA Derivative Suit Is Tossed
Richard L. Cassin
June 3, 2009
For the third time, Baker Hughes has beaten back a derivative suit based on its 2007 settlement of Foreign Corrupt Practices Act violations. It paid $44 million to resolve enforcement actions by the Justice Department and Securities and Exchange Commission related to bribery in Kazakhstan. Since then, plaintiffs have tried to sue in state […]
Tom Fox has a tribute to Jay Martin, the CCO of Baker Hughes
Thomas Fox
May 19, 2016
[…] Business and Ethics Roundtable (GHBER) will hold its first Ethics and Compliance Awards Dinner in honor of the 20-year anniversary of the organization’s founding. We will award the Bette Stead Leadership Award (Stead is the founder of GHBER) to Jay Martin, Vice President, Chief Compliance Officer and Senior Deputy General Counsel at Baker Hughes Inc.
More Math For The General Counsel
Richard L. Cassin
August 4, 2010
[…] to the SEC is not part of the fine calculation under the sentencing guidelines. And removing disgorgement changes some of the ratios Bruce talked about. In Baker Hughes’ case, for example, the penalties without disgorgement were $21 million instead of $44 million. Baker’s DPA at paragraph 24 of the statement of facts says: “Net […]
Job: Chief Compliance Officer
The FCPA Blog
December 9, 2018
Job Title: Chief Compliance Officer Employer: Baker Hughes Location: Houston, Texas USA
A Spectacular Leap
Richard L. Cassin
December 18, 2008
[…] million settlement on Monday of Foreign Corrupt Practices Act violations as Beamonesque, considering that it surpassed the existing FCPA settlement record by $755.9 million. Before Siemens, Baker Hughes‘ April 2007 payment of $44.1 million (including penalties and disgorgement) was the biggest in an FCPA case. Baker Hughes, we think, won’t be sorry to relinquish […]
At Large: Is this why nobody talks about the FCPA extortion defense?
Richard L. Cassin
August 21, 2020
[…] enforcement action against an issuer. Note: A 2001 civil case, SEC v. Eric L. Mattson and James W. Harris, involved allegations that the defendants (employees of Baker Hughes) violated the FCPA anti-bribery and accounting provisions, and aided and abetted Baker Hughes’s violations, by bribing an Indonesian tax official. Mattson and Harris argued that the […]
Top Ten Disgorgements (March 2012)
Richard L. Cassin
March 21, 2012
[…] FCPA disgorgements a year ago, two new companies joined the list — Johnson & Johnson and Magyar Telekom. They replaced GE and Baker Since we first listed the top ten FCPA disgorgements a year ago, two new companies joined the list — Johnson & Johnson and Magyar Telekom. They replaced GE and Baker Hughes.
Resource: Hughes Hubbard Winter 2013 Alert
Julie DiMauro
January 14, 2014
Hughes Hubbard’s FCPA/Anti-Bribery 2013 Alert is a 432-page report covering an expansive list of corruption enforcement, including FCPA and related actions in 2013, plus a retrospective of the major FCPA cases since 2005.
Resource Alert: Hughes Hubbard Fall 2016 Alert
Richard L. Cassin
September 26, 2016
Hughes Hubbard has published a new version of its FCPA & Anti-Bribery Alert. It’s a tremendous resource for compliance professionals.