It’s a familiar FCPA enforcement pattern. Companies in the same segment fall like dominoes. Medical device makers, pharmas, banks, mobile phone operators, oil and gas service providers and producers — all have had their turn in the enforcement spotlight.… Continue Reading
Posts Tagged: Panalpina
The world has now lived with the FCPA for more than 40 years and with hyper-enforcement for more than a decade. By now you’d think everyone on earth has learned about the risks of non-compliance.… Continue Reading
A UK-based drill-rig operator said in an SEC filing Tuesday that a U.S. investigation into alleged corruption in Brazil has ended, with both the DOJ and SEC saying they won’t bring enforcement actions.… Continue Reading
A Gabonese national who was allegedly paid $3.5 million for facilitation services in Africa by hedge fund Och-Ziff was arrested this week as part of an FCPA investigation.
On April 5 the DOJ’s Fraud Section of the Criminal Division released a policy document called The Fraud Sections’ Foreign Corrupt Practices Act Enforcement Plan and Guidance. The new Guidance is an attempt to bring greater transparency to the benefits corporations will achieve by voluntarily disclosing FCPA problems and fully cooperating with investigations of these problems. … Continue Reading
In a filing with the Securities and Exchange Commission Tuesday, UK-based Ensco plc said its customer Petrobras has cancelled the contract for a drillship because of alleged payments to Petrobras employees.… Continue Reading
The Texas Supreme Court issued a long-anticipated opinion Friday in Shell Oil Co. v. Writt, holding that an internal investigation report Shell provided to the U.S. Department of Justice about potential FCPA violations is “absolutely privileged” in a defamation proceeding and cannot be used to form the basis of a defamation claim.… Continue Reading
Fashion Week 2015 begins on February 12 in New York. Compliance will certainly not be on the agenda and the fashion industry has never attracted the kind of regulatory attention “enjoyed” by industries that rely heavily on public sector sales.… Continue Reading
An oil and gas services firm based in Scotland was fined £170,000 ($267,000) after admitting that a former Kazakhstan-based employee paid bribes to win work.
Managing corruption has added benefits for a company. In 2010, when faced with hundreds of incidents of bribing government officials across multiple nations, Panalpina, the Swiss leader in logistics, admitted a culture of corruption had emanated from its senior level management who “tolerated bribery as business as usual.”… Continue Reading
Allegations that more than a billion dollars paid to the Nigerian government ended up with a company controlled by a former Nigerian oil minister have triggered a money-laundering investigation in the UK, according to a report Wednesday from Reuters.… Continue Reading