We’ve been looking over the criminal information charging Kellogg, Brown & Root LLC with violating the Foreign Corrupt Practices Act. There’s one conspiracy and four substantive counts. There’s also a related document called the Joint Motion to Waive Presentence Investigation. That’s where the Justice Department talks about the potential criminal fine range and agrees with […]
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Parental controls: Anti-corruption compliance programs for joint ventures, subsidiaries and franchisees (Part 7)
In this seventh of an eight-part series on “parental controls,” we continue our discussion from the prior post on controls extended to more actively managed subsidiaries. We also tackle franchise compliance.
Facing a decision to either stay in a joint venture or leave, when staying means violating the Foreign Corrupt Practices Act and leaving means breaching contractual obligations, is a legal disaster. But it’s an easy trap to fall into. One U.S. company (called the “Requestor”) proposed to enter into a joint venture with a French […]
[…] sales for personal gain. But according to sources close to the FAW, authorities are now investigating about 50 executives at the group and some of its joint ventures. The Central Commission for Discipline Inspection recently announced that FAW-Volkswagen’s Audi sales division had misused company funds for overseas sight-seeing tours. Six executives, including the joint […]
Parental controls: Anti-corruption compliance programs for joint ventures, subsidiaries and franchisees (Part 3)
In this third of an eight-part series on “parental controls,” we explore the types of compliance provisions that should be considered for inclusion in a joint-venture (JV) agreement. You can find Part 2 here and Part 1 here.
Anheuser-Busch InBev paid $6 million Wednesday to settle charges that it violated the Foreign Corrupt Practices Act and impeded a whistleblower who reported the misconduct.
An Australian joint venture partner of Alcoa said this week that possible FCPA settlements with the DOJ and SEC for alleged bribes to officials of Bahrain’s Alba could amount to more than $300 million.
[…] books and records of its affiliates, the Guide quietly dropped the responsibility for “joint venture partners” from its list. The Guide now limits the requirement to “joint ventures” under an issuer’s control. The Guide previously defined a “minority-owned subsidiary or affiliate” as a company where the parent owns “less than 50%.” That line now […]
The Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD) of the Singapore Police Force announced last month that it will jointly investigate market misconduct offenses such as insider trading and market manipulation.
Having recently toughened up its anti-bribery laws, China is now aiming to expand its oversight of corruption in the public sector, possibly leading to increased enforcement efforts against both domestic and foreign companies.