News and commentary about white-collar crime, enforcement, and compliance
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From the ‘investigations’ index of ethiXbase, here is SL Industries Inc.’s FCPA disclosure in its latest Form 10-Q filed May 10, 2012.
The New Jersey-based company designs, manufactures, and markets electronics and power protection equipment used in the aerospace, computer, telecom, medical, and transportation industries.… Continue Reading
Joe Palazzolo and Emily Glazer at the Wall Street Journal reported today that the DOJ has gone to a grand jury with evidence of FCPA violations against U.S. executives at Avon Products.… Continue Reading
Last week on Corruption, Crime & Compllance, I wrote that the increase in FCPA enforcement has led to ‘mass hysteria,’ whipped up by lawyers and others.
But there’s a shortage of practical solutions, especially when it comes to gifts, meals and entertainment expenses.… Continue Reading
Avon Products confirmed Thursday that the SEC has issued a formal order of investigation into possible violations of the Foreign Corrupt Practices Act.
Avon’s disclosure appeared in its quarterly report filed with the SEC.… Continue Reading
A few years ago, after a dozen or so enterprising law students asked me what FCPA-related topics were ripe for research, I answered with a post on the FCPA Blog.
My suggestions included: (1) respondeat superior—the legal doctrine imputing to corporate employers the criminal acts of employees; (2) the sad state of the Department of Justice’s Opinion Procedure Releases; and (3) the confusing condition of the FCPA’s promotional-expenses affirmative defense.… Continue Reading
In its first FCPA Opinion Procedure Release of 2011, the DOJ confirmed what should be obvious — that the promotional expenses affirmative defense can be used to pay travel expenses of government officials who are being shown a company’s products.… Continue Reading
Rockwell Automation Inc. today settled an administrative proceeding with the SEC for bribes it paid in China.
The company will pay $2.8 million for the settlement, including disgorgement and interest of $2.4 million and a civil penalty of $400,000.… Continue Reading
By Michael Volkov
If you don’t know where you are going, you might wind up someplace else. — Yogi Berra
The U.K. Bribery Act will be effective on July 1 and companies must now decide how to comply.… Continue Reading
IBM today resolved civil charges brought by the SEC for violating the books and records and internal control provisions of the Foreign Corrupt Practices Act.
The company admitted making improper cash payments to government officials in South Korea and China, and giving gifts and paying travel and entertainment expenses that violated the FCPA.… Continue Reading
On Tuesday, Assistant Attorney General Lanny Breuer, left, acknowledged the growing debate about the FCPA. Although he said the DOJ is listening, his message was loud and clear: When it comes to enforcement, damn the torpedoes, full speed ahead.… Continue Reading
When Kyle Sheahen wrote in this space about how useless the FCPA’s two affirmative defenses are, he kicked up a storm, especially about promotional expenses. Some readers agreed and others didn’t (here and here).… Continue Reading
By Thomas Fox
I want to thank Kyle Sheahen for his recent post and paper arguing that the promotional expenses defense under the FCPA is illusory. His work has stimulated a useful debate.… Continue Reading