Ralph Lauren Corporation will pay $1.6 million in combined penalties to the DOJ and SEC in exchange for unprecedented dual non-prosecution agreements after admitting its Argentina subsidiary paid bribes to government and customs officials.… Continue Reading
Houston-based Parker Drilling Company resolved Foreign Corrupt Practices Act charges Tuesday for bribes paid to Nigerian officials through an agent to circumvent customs and tax laws.
Parker agreed to pay the DOJ a criminal penalty of $11.76 million.… Continue Reading
Anheuser-Busch InBev said this week the SEC is investigating its India joint venture for possible FCPA violations.
The Belgium-based beer company said in an SEC filing it is ‘investigating the conduct in question and cooperating with the SEC.’… Continue Reading
A federal district court in New York City issued an order Friday denying a motion to dismiss a civil FCPA enforcement action against three executives of Magyar Telekom Plc.
In December 2011, the SEC sued Elek Straub, Andras Balogh, and Tamas Morvai for FCPA violations.… Continue Reading
The Securities and Exchange Commission said Monday it has resolved an FCPA enforcement action against Germany-based insurance and asset management company Allianz SE.
The company paid the SEC a total of $12.4 million to settle an out-of-court administrative proceeding.… Continue Reading
From the FCPA Blog members area, here’s Halliburton Co.’s FCPA disclosure in its SEC filing on October 23:
… Continue Reading
We are conducting internal investigations of certain areas of our operations in Angola and Iraq, focusing on compliance with certain company policies, including our Code of Business Conduct (COBC), and the FCPA and other applicable laws.
A new FCPA study from Kroll (a sponsor of the FCPA Blog) found that the majority of corporate compliance officers at U.S. multinationals believe they’re exposed to bribery risk and fall short on best practices when it comes to third party screening, facilitating payments, and political donations.… Continue Reading
The U.K.’s Serious Fraud Office has a neat list of ‘red flags’ on its site. But they’re not called ‘red flags.’ That term is apparently an Americanism.
The SFO’s list of ‘corruption indicators,’ it says, is ‘not exhaustive and the ingenuity of those involved in corruption knows no bounds!’… Continue Reading