News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
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
Shruti J. Shah
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Bill Steinman
Contributing Editor
Credit Suisse Group AG and its Hong Kong unit agreed Thursday to pay the DOJ and SEC $76.7 million for a referral hiring scheme that violated the Foreign Corrupt Practices Act.… Continue Reading
Banking giant Credit Suisse Group AG said Wednesday it has agreed to pay a $47 million penalty to the Justice Department to end an FCPA investigation into hiring practices in Asia.… Continue Reading
Citigroup Inc. said Friday it is being investigated for hiring practices that might violate the FCPA.
The bank said the SEC and other agencies are “conducting investigations or making inquiries concerning compliance with the Foreign Corrupt Practices Act and other laws.”
The probe is aimed at the hiring of candidates “referred by or related to foreign government officials.”
Citigroup said it is cooperating with the investigation.… Continue Reading
With every enforcement action comes lessons and warning tales for other companies and compliance officers. Last week Qualcomm paid $7.5 million to settle SEC charges that it violated the Foreign Corrupt Practices Act by hiring relatives of Chinese officials responsible for deciding whether to select the company’s mobile technology products.
Lessons abound for the savvy compliance professional from this enforcement action.… Continue Reading
The Securities and Exchange Commission said Tuesday that Qualcomm Incorporated agreed to pay $7.5 million to settle charges that it violated the Foreign Corrupt Practices Act by hiring relatives of Chinese government officials.… Continue Reading
Jing Wang, the former president of global business operations for Qualcomm Inc., was sentenced Friday to 18 months in prison and fined $500,000 for his role in a three-year insider trading scheme and cover up.… Continue Reading
A former president of Qualcomm Inc.’s global business operations pleaded guilty Monday to insider trading in shares of the mobile phone chipmaker and a company it bought in 2011, and to a related money laundering charge.… Continue Reading