After reviewing the FCPA Blog’s post, “When do issuers disclose their FCPA problems?” which focused on the seven resolved FCPA cases during the first half of 2018, I also examined each of the enforcement actions with a specific goal of determining the impact of due diligence in these cases.… Continue Reading
The Securities and Exchange Commission issued an administrative order Monday that completed the feds’ earlier $64 million FCPA enforcement action against investment manager Legg Mason Inc.
Legg Mason Inc., a Maryland-based investment management firm, settled FCPA violations in Libya caused by its partner Société Générale S.A., by agreeing Monday to pay $64.2 million in penalties and disgorgement.… Continue Reading
In the first coordinated enforcement action by the DOJ and French authorities in an overseas corruption case, a Paris-based bank agreed Monday to settle charges that it paid over $90 million in bribes to officials in Libya during the Qaddafi regime.… Continue Reading
Fund manager Legg Mason, Inc. said Wednesday it expects a settlement soon of a Foreign Corrupt Practices Act investigation into a unit that managed money for the Libyan government.
The investigation concerns Permal Group’s Libya deals from 2005 to 2007.… Continue Reading