It’s budgeting season for many companies, and word on the street is that things aren’t looking good for compliance teams. It can be summed up by an email I received from a compliance head at a Fortune 500: “We are being asked to cut back this year.”… Continue Reading
Posts Tagged: Philips
Let’s start with recent events that might have escaped notice because of Covid-19 distractions. Two years ago, at the World Economic Forum in Davos, Switzerland, leaders representing about a thousand global companies kicked shareholder capitalism aside and replaced it with stakeholder capitalism.… Continue Reading
Acting Assistant Attorney General Mythili Raman of the Justice Department’s Criminal Division Did someone say FCPA enforcement had slowed down? Look again.
Already this month there have been settled enforcement actions involving Philips, Parker Drilling, and Ariel Sharef of Siemens, new charges unsealed against four former BizJet execs with two guilty pleas, and two Alstom execs with one guilty plea, and obstruction charges in a grand jury FCPA investigation.… 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
In the coming weeks, China Compliance Digest will cover the most significant anti-corruption compliance risk factors facing multinationals operating in China. Subscribers will receive the latest reports via email as soon as they become available.… Continue Reading