Halliburton’s recent decision to enter into a $29.2 million settlement with the SEC over alleged FCPA violations in Angola illustrates the challenges faced by corporate compliance officers in designing and implementing an effective FCPA compliance program.
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From the FCPA Blog members area, here’s Halliburton Co.’s FCPA disclosure in its SEC filing on October 23:
Houston-based KBR said in an SEC filing this week that its compliance monitor ‘has certified that KBR’s current anti-corruption compliance program is appropriately designed and implemented to ensure compliance with the FCPA and other applicable anti-corruption laws.’
The Justice Department said today that Albert “Jack” Stanley, 65, a former chairman and CEO of KBR, the global engineering and construction firm based in Houston, pleaded guilty to a two-count criminal information charging him with conspiracy to violate the Foreign Corrupt Practices Act and conspiracy to commit mail and wire fraud. He appeared in […]
Oil field services giant Halliburton said this week its internal investigations into potential FCPA and conflict violations in Angola and Iraq are continuing, and the company is reporting all results to the DOJ and SEC.
Plaintiffs lawyers have filed a state derivative class action suit against some of the officers and directors of Halliburton and its one-time subsidiary, KBR. The suit in Houston alleges all sorts of malfeasance — including the Nigerian bribery that led to the companies’ $579 million settlements of Foreign Corrupt Practices Act offenses in February this […]
This could be the first year since 2005 when the DOJ won’t issue any FCPA Opinion Procedure Releases.
Our post yesterday referred to the long-pending Foreign Corrupt Practices Act investigations at Halliburton and DaimlerChrysler (now Daimler AG). For readers wanting to know what the two companies are now saying about their FCPA issues, we’ve rounded up their latest disclosures. Daimler’s is extracted from its Annual Report for December 31, 2007 (here), and Halliburton’s […]