The FCPA Blog’s post Wednesday about important cases mentioned Telia, Siemens, TSKJ, The Africa Sting, and U.S. v. Kay. For the reasons set out in the post, those are all good candidates.… Continue Reading
Since the FCPA became law in December 1977, the DOJ has brought about 300 enforcement actions. Which one is the most important?
Telia. The biggest by our measure was this year’s action against Telia Company AB of Sweden, with global penalties amounting to $965 million.… Continue Reading
The SEC said in an enforcement order Thursday that Sweden’s Telia Company AB will disgorge $457 million to resolve FCPA violations in Uzbekistan.… Continue Reading
Yesterday I participated as a panelist at a roundtable on the “Increase in the Enforcement of the Foreign Bribery Statue in Israel,” part of the Globes Newspaper’s Capital Markets Conference.
As seems to always be the case with anti-corruption matters, on the day of the conference there were new anti-corruption headlines.… Continue Reading
The U.S. Supreme Court Monday ruled 9-0 to limit the Securities and Exchange Commission’s legal authority to recover ill-gotten profits from defendants.
The Supreme Court in Kokesh v. SEC said the SEC’s use of the remedy known as disgorgement is subject to a five-year statute of limitations.… Continue Reading
The Federal Communications Commission fined Siemens Corporation and Siemens Medical Solutions $175,000 Thursday for failing to disclose corporate felony convictions as required by the FCC’s rules.
Several Siemens companies hold FCC wireless licenses and were required to disclose on their applications prior criminal convictions for violations of the Foreign Corrupt Practices Act and, separately, obstruction of justice.… Continue Reading
The International Centre for Collective Action (ICCA) at the Basel Institute on Governance is hosting a conference entitled “Collective Action: Evidence, Experience and Impact” on October 20 – 21, 2016 in Basel, Switzerland.… Continue Reading
Siemens AG agreed to pay the Israeli government about $42 million as a penalty for bribing officials at state-owned Israel Electric Corporation to win a contract to supply turbines fifteen years ago.… Continue Reading
The biggest FCPA settlement in 2015 was BHP Billiton. It paid $25 million to the SEC to settle Olympics-related FCPA offenses. The case fell far short of the Top Ten List, missing a tenth place finish by a whopping $160 million.… Continue Reading
The SEC received 16 percent more tips from whistleblowers concerning suspected violations of the Foreign Corrupt Practices Act in fiscal year 2015 than it did the previous year, according to the annual report released by the SEC Office of the Whistleblower. … Continue Reading
The former chief financial officer of Siemens S.A. – Argentina pleaded guilty Wednesday in federal court in New York City to conspiring to pay tens of millions of dollars in bribes to Argentina government officials in connection with a $1 billion contract to create national identity cards.… Continue Reading
The chief of Volkswagen USA admitted the company screwed up, and the global CEO has resigned. Prosecutors and regulators, along with aggrieved buyers of its diesel vehicles, are lining up for retribution and justice.… Continue Reading