Compliance professionals have known for decades that intermediaries are involved in nearly all FCPA anti-bribery violations. The DOJ and SEC say plainly that FCPA enforcement actions “demonstrate that third parties, including agents, consultants, and distributors, are commonly used to conceal the payment of bribes to foreign officials in international business transactions.”… Continue Reading
Posts Tagged: Agents
In nearly all FCPA enforcement actions, agents, consultants, suppliers, distributors, and partners — whether real or faux — have a hand in bribery. They make approaches to foreign officials, set up offshore shell companies, generate fake invoices, and move money through accounts they own or control.… Continue Reading
Swedish telecom Ericsson agreed Friday to pay the DOJ and SEC over $1 billion in one of the biggest Foreign Corrupt Practices Act enforcement actions ever.… Continue Reading
WeWork’s parent company said in an SEC filing Wednesday for a possible IPO that its potential exposure to liability under laws such as the FCPA is likely to increase because of the way it does business.… Continue Reading
Almost all major international bribery cases involve third parties, typically commercial agents who pass on part of their commissions to government officials as bribes. As demonstrated by Richard Bistrong’s recent post, the relationship between these agents and their international clients is often psychologically complex.… Continue Reading
This week I’m traveling to the Middle East for the first time in ten years. It’s a welcome return to a region where I spent a lot of time, and where I enjoyed dealing with agents and end users.… Continue Reading
There is a long-standing debate over the benefits and drawbacks of using intermediaries to generate and retain business.
Writing in The Guardian, the paper’s financial editor Nils Pratley recently summed up £671 million ($800 million) in fines meted out to Rolls-Royce, in the aftermath of the various corruption investigations, as “big, ugly and serious.”… Continue Reading
What is it about agents, fixers, and intermediaries that makes them so attractive while potentially toxic to multinationals?
If you haven’t spent extended time with them, it’s hard to understand.
So here’s what I shared last week at the FCPA Blog NYC Conference.… Continue Reading
International success now depends on business leaders having “the foreign policy acumen to distinguish what they can and cannot do,” according to John Chipman, the director-general and chief executive of the International Institute for Strategic Studies.… Continue Reading
A Gabonese national who was allegedly paid $3.5 million for facilitation services in Africa by hedge fund Och-Ziff was arrested this week as part of an FCPA investigation.