In a statement Friday about its recent $1 billion FCPA resolution, Swedish telecom Ericsson made some frank admissions about its bad actors, and provided rare insight into what simultaneous FCPA negotiations with the DOJ and SEC are like.… Continue Reading
The Chairman of the China International Economic Exchange Center, Huang Qifan, revealed in October that China has been working on a central bank-issued digital currency for five to six years and he’s confident it can be introduced very soon.… 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
A year ago, we wrote here about the enactment and possible implications of a new law in China preventing China-based individuals and entities, including the China-based subsidiaries of non-Chinese companies, from providing certain assistance in criminal proceedings outside of China.… Continue Reading
The World Bank debarred a Chinese state-owned engineering and construction company Wednesday for 15 months for fraud involving a project in China.… Continue Reading
The Justice Department Thursday charged two former Herbalife executives with bribing Chinese officials for ten years and covering it up by lying to the SEC and destroying evidence.… Continue Reading
A Canadian clean fuel technology company and its former chief executive officer agreed Friday to pay more than $4.1 million to the SEC to resolve charges that they violated the Foreign Corrupt Practices Act by bribing a government official in China.… Continue Reading
Quad/Graphics Inc. agreed Thursday to pay the SEC nearly $10 million to settle violations of the Foreign Corrupt Practices Act for long-running bribery schemes and cover-ups in Peru and China.
The Sussex, Wisconsin print and digital marketing company disgorged $6.9… Continue Reading
Swedish telecom giant Ericsson said Wednesday it reserved around $1.2 billion to resolve an expected FCPA enforcement action by the DOJ and SEC.
The Stockholm-based LM Ericsson Telephone Company said it was cooperating with the DOJ and SEC regarding possible FCPA violations in China, Djibouti, Indonesia, Kuwait, Saudi Arabia, and Vietnam.… Continue Reading
The World Bank announced the debarments of Indonesian, Chinese, and Spanish companies Wednesday in three unrelated actions.
PT. Suburo Jayana Indah Corp. (Sujainco) was debarred for two years for “fraud and collusion” on the World Bank funded Water Resources and Irrigation Sector Management Program (Phase II) project in Indonesia. … Continue Reading
The World Bank debarred a state-owned Chinese engineering and construction company Wednesday for 20 months for fraud involving a project in the Republic of Zambia.
China Energy Engineering Group Hunan Electric Power Design Institute Co.,… Continue Reading
Numerous stories have appeared in the English-language press about China’s social credit system (SCS). Most of these stories focus on SCS’s system of “scoring” individuals in China. But SCS also applies to companies operating in China and, as it develops, may impact how companies approach anti-corruption compliance. … Continue Reading