Agilent Technologies disclosed that employees in China working with third-party intermediaries may have violated the company’s business conduct policy and the FCPA.
Santa Clara, California-based Agilent makes testing and measurement equipment used in the medical industry.… Continue Reading
“Over the last decade, since the passage of the Sarbanes-Oxley Act in 2002, publicly traded corporations have poured significant resources into their compliance programs to prevent wrongdoing, or to at least be an early warning system for what might become a problem.… Continue Reading
Commodities giant Archer Daniels-Midland Company said this week it has reserved $25 million for a potential FCPA settlement with the DOJ and SEC.
The focus of its investigation that started in 2008 and just ended was the handling of grain and feed exports, ADM said.… Continue Reading
Ralph Lauren Corporation will pay $1.6 million in combined penalties to the DOJ and SEC in exchange for unprecedented dual non-prosecution agreements after admitting its Argentina subsidiary paid bribes to government and customs officials.… Continue Reading
Only five years ago, no one talked about self disclosing potential FCPA violations.
Today, a mere blink of an eye later, self disclosure is the norm.
In our era of hyper-enforcement and Sarbanes-Oxley driven field certifications, the new pattern is set:
Hear from a whistleblower about sensitive payments somewhere, take a quick look for credible evidence, inform the board, launch an internal investigation, disclose it to the DOJ, and write it up in the next quarterly SEC filing.… Continue Reading
Last week, the DOJ and SEC issued their long-anticipated Resource Guide regarding the agencies’ FCPA enforcement. Over a year in the drafting, the 120-page Guide addresses, among other things, (1) the definition of a foreign official, (2) gifts and entertainment, and (3) the “hallmarks” of an effective corporate compliance program. … Continue Reading
The U.K. Serious Fraud Office isn’t making any promises to self-reporting companies.
They might still be prosecuted — ‘each case turns on its own facts.’