Growing up in the People’s Republic of China, I often heard the proverb, “water that is too clean has no fish.” Sadly, the adage is a rationalization for corruption. It claims that ethical business doesn’t yield profits.… Continue Reading
Net 1 UEPS Technologies said in a securities filing Thursday that the DOJ has closed its investigation of possible violations of the Foreign Corrupt Practices Act.
Net 1 UEPS Technologies said in a securities filing Monday that the SEC isn’t recommending an enforcement action after investigating possible violations of the Foreign Corrupt Practices Act.
South Africa-based Net1 said in December 2012 that the SEC, DOJ, and FBI were investigating payments to South African government officials to win a contract with the Social Security Agency.… Continue Reading
The Securities and Exchange Commission on Tuesday released its final administrative order against Dutch electronics firm Koninklijke Philips Electronics N.V. reflecting an out-of-court settlement of FCPA-related allegations.
Philips agreed to pay $4.5 million in the settlement, consisting of disgorgement of $3.1 million and prejudgment interest of $1.4 million.… 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
In recent SEC filings, French oil giant Total said it rejected ‘out-of-court settlement solutions’ with the DOJ and SEC that would end their longstanding FCPA investigations. And while Total said it is still talking with the agencies, it also said it’s free not to settle, ‘in which case it would be exposed to the risk of prosecution in the United States.’… Continue Reading
The News Corp scandal started with phone hacking in the U.K., and alleged bribes to police there that could have violated U.K. laws and the FCPA.
Now it’s spreading.