Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Shruti J. Shah
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Last year the SEC brought twenty FCPA enforcement actions. And over the past five years, enforcement has averaged nearly seventeen actions a year. (Note: The SEC lumps related cases together and counts them as one enforcement action.)… Continue Reading
Biomet Inc. today became the latest medical device maker to settle FCPA offenses.
The Warsaw, Indiana company will pay a criminal fine of $17.3 million in its settlement with the DOJ, and $5.5 million in disgorgement of profits and pre-judgment interest to the SEC.… Continue Reading
U.K.-based medical device maker Smith & Nephew plc agreed to pay $22.2 million to settle Foreign Corrupt Practices Act offenses committed by its U.S. and German subsidiaries.
The company admitted bribing government-employed doctors in Greece for more than a decade to win business.… Continue Reading
The U.K.’s Serious Fraud Office said this week that a former DePuy executive pleaded guilty to making £4.5 million in corrupt payments to Greek medical professionals within the state-controlled healthcare system.… Continue Reading
Britain’s Serious Fraud Office charged a former executive of a Johnson & Johnson subsidiary with overseas corruption. Robert John Dougall, 44, an ex-vice president of DePuy International Limited of Leeds, appeared Tuesday in the City of Westminster Magistrates’ Court.… Continue Reading
The Justice Department last week issued its first Foreign Corrupt Practices Act Opinion Procedure Release of the year. The Requestor in Release No. 09-01 is a medical device maker that wants to introduce its product to a foreign government.… Continue Reading
Ah, Spring. And the corporate compliance monitors are back in the news. Here’s what’s happening:
It’s an annual event. Democrats in Congress have re-introduced a bill from last year to regulate the way monitors are selected, paid and held accountable.… Continue Reading
We don’t know how many of the 50 or so disclosed and pending Foreign Corrupt Practices Act investigations will be resolved this year. But here are some we’re watching:
Alcoa. In February 2008, government-owned Aluminum Bahrain BSC (Alba) accused its long-time U.S.… Continue Reading
This week, Wright Medical Group became the latest orthopedic device maker to disclose a government investigation into its overseas sales practices. The company’s Form 8-K said its principal operating subsidiary, Wright Medical Technology, Inc.,… Continue Reading
The Securities and Exchange Commission said in October this year it is investigating possible violations of the U.S. Foreign Corrupt Practices Act by the leading manufacturers of orthopedic implants. Biomet Inc.,… Continue Reading
The SEC’s just-announced investigation of several orthopedic device makers for possible violations of the U.S. Foreign Corrupt Practices Act (reported here) probably originated in February 2007. That’s when Johnson & Johnson said it had “voluntarily disclosed to the U.S.… Continue Reading
