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Editors

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

Siemens: The Clean-up Crew

Here are some important corrections and clarifications to earlier posts about Siemens:

1. Wednesday’s post indicates that Schnitzer Steel pleaded guilty to books and records and internal controls violations. In fact, it was Schnitzer’s subsidiary that pleaded guilty, and those charges included antibribery and books and records charges, but not internal controls charges.… Continue Reading

Foreign Affairs

Our singular focus over the past week moved our spouse to ask whether we also plan to redo the walls in Siemens Blue. We’re considering it. But what really comes to mind after the biggest FCPA enforcement action in history is that it involves not a U.S.… Continue Reading

From The Mailbag

The question our readers most want answered — after we tell them bloggers have no way to predict Powerball winners — is, Who’s covered by the Foreign Corrupt Practices Act? It’s always the jurisdiction thing — and for good reason.… Continue Reading

The Accounting Standards Make The Shortlist

The FCPA’s anti-bribery provisions attract lots more attention than its accounting standards — and there’s no mystery why. Public corruption is fascinating, while public accounting is . . . well, less fascinating.… Continue Reading

Let’s Be Reasonable

It’s a material world — at least for auditors, public-company executives and securities lawyers. Material losses. Material misstatements and omissions. Material adverse changes. But wait. When it comes to the books and records provisions of the U.S.… Continue Reading

One Law,Two Parts

The question comes from Pune, India: Can a payment that is not a bribe – such as a facilitating payment – be the basis for a criminal violation of the U.S.… Continue Reading

Schnitzer’s Victory

The case was full of bad facts. For nearly ten years until late 2004, some $1.8 million in bribes went to foreign officials and private parties in South Korea and China.… Continue Reading

Another Look At Facilitating Payments

As the lone exception written into the U.S. Foreign Corrupt Practices Act, facilitating payments have a reputation for being safe and practical. In truth, grease payments are often dangerous and potentially damaging.… Continue Reading

Siemens’ Global Corruption Problems Will Worsen

Perhaps the biggest, although not yet the loudest, international corruption story involves Siemens AG, the German electronics and electrical engineering giant. Siemens says it has identified “a multitude of payments made in connection with [consulting agreements] for which we have not yet been able either to establish a valid business purpose or to clearly identify the recipient.… Continue Reading

The Long, Strong Arm of the FCPA

Its jurisdictional reach is legendary, but understanding exactly why the FCPA’s coverage stretches so far and wide is not always easy. One explanation comes from the United States Attorneys’ Manual, in this clear and sometimes ominous exposition:

Under the FCPA, U.S.

Continue Reading

U.S. Anticorruption Laws Reach Everywhere

SINGAPORE–LAWFUEL – The Law Newswire – August 2, 2007 – Companies located anywhere in the world whose shares are traded on a U.S. stock exchange are subject to the United States Foreign Corrupt Practices Act.… Continue Reading