News and commentary about white-collar crime, enforcement, and compliance
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
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
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
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
A survey by Saudi Arabia’s National Anti-Corruption Commission found that 67.8 percent of the respondents believe financial and state corruption is on the rise in the country.
Osman bin Salih al-Amir, a lecturer at Ha’il Teachers College, told Press TV the results also “show that 92.1 percent of Saudi nationals hold nepotism responsible for the spread of corruption in their country.”… Continue Reading
As part of its $398 million settlement Wednesday, Total S.A. agreed with the SEC to disgorge $153 million of profit made from its bribery in Iran. That’s the third biggest disgorgement in FCPA history.… Continue Reading
The DOJ agreed last week to end Pride International’s deferred prosecution agreement a year early to reward the company for its enhanced compliance efforts.
As reported by Matt Kelly of Compliance Week, it was the first time in an FCPA case that the DOJ terminated a DPA ahead of schedule ‘for good behavior.’… Continue Reading
Since we listed the top ten FCPA disgorgements a year ago, two new companies joined the list — Johnson & Johnson and Magyar Telekom. They replaced GE and Baker Hughes.… Continue Reading
The SEC’s Office of the Whistleblower (yes, it’s real) published its first list of enforcement actions that might be eligible for whistleblower rewards. It includes FCPA-related cases.
On the November 1 list — under the heading of ‘Claim an Award’ — are completed enforcement actions against companies and people that resulted in judgments or orders issued after July 21, 2010 with sanctions of more than $1 million.… Continue Reading
By Marcus Cohen, David Elesinmogun & Obumneme Egwuatu
The penalty for paying bribes in Nigeria may increase following demands from a Nigerian NGO that the Nigerian government seek its share of the recent anti-graft bounty. … Continue Reading
With yesterday’s $218.8 million criminal fine, JGC joins the top ten FCPA cases of all time. Nine now involve non-U.S. companies, and the oldest — Siemens from December 2008 — is still the biggest.… Continue Reading
There’s been a lot of talk lately about the DOJ’s “expansive enforcement practices” and practically none about the SEC’s. So let’s get started by taking a look at a remedy the SEC now uses in most FCPA cases: disgorgement.… Continue Reading
In the latest top ten FCPA settlements of all time, eight are from 2010 and eight also involve non-U.S. companies.
Paris-based Alcatel-Lucent is the latest addition at number seven, knocking Shell’s November 2010 Panalpina-related enforcement action off the list.… Continue Reading
The case made headlines last month when seven companies settled FCPA-related charges for $236.5 million dollars.
Logistics company Panalpina was named, along with its customers Shell, Transocean, Pride, Tidewater, Noble, and GlobalSantaFe.… Continue Reading