During this season of Thanksgiving, the folks at Norway’s Statoil ASA will be celebrating the end of the company’s three-year deferred prosecution agreement — and the Justice Department’s public announcement about it here. In 2006, Statoil (which trades on the NYSE under the symbol STO) was charged with violating the anti-bribery and accounting provisions of […]
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Last week we reported here about the civil suit filed in the U.S. District Court in D.C. by Colorado-based oilman Jack Grynberg, 76, against BP, Statoil and British Gas, along with some of their current or former top executives. The core allegation is that the defendants, without Grynberg’s knowledge and using some of his money, […]
The British press is reporting (here and here) that oil giant BP and its current and former CEOs, Tony Hayward and Lord Browne, as well as Norway’s Statoil and its CEO, are among the defendants named in a civil lawsuit involving allegations of bribery of government officials in Kazakhstan. The suit was filed in the […]
Iran has all the ingredients to be an FCPA minefield. It’s big — 66 million people in an area about the size of Alaska — and it’s the world’s 6th largest oil producer. On top of that, it has a corruption problem, ranking near the bottom of the latest Corruption Perception Index — 168th, tied […]
For those who missed any of the FCPA enforcement news during the recent hyper-active stretch, here’s what happened: July 28 — Label-maker Avery Dennison Corporation resolved civil and administrative charges brought by the Securities and Exchange Commission. The SEC filed settled enforcement actions in the United States District Court for the Central District of California […]
Label-maker Avery Dennison Corporation, whose compliance problems in China were described in an LA Times story last January, has resolved civil and administrative charges brought by the Securities and Exchange Commission. The SEC filed settled enforcement actions in the United States District Court for the Central District of California charging Avery with violating the FCPA’s […]
Tungsten, courtesy of Enough Project via YouTubeAn appellate court Monday struck down part of the conflict-minerals rule, leaving SEC-reporting companies wondering what disclosures to include in their conflict minerals reports due on May 31.