More and more, traditional banks are looking to acquire or partner with fintech firms. For the banks, it’s a way to expand their digital offerings across the financial services sector. And for the fintech firms — typically small, agile start-ups — it’s a way to get much needed capital.… Continue Reading
Posts Tagged: Successor Liability
Two very different groups of companies will emerge from the lockdown: thousands with liquidity problems and uncertain futures, and hundreds with piles of cash and an appetite for growth. That means there’s a coming surge in mergers and acquisitions.… Continue Reading
A natural foods and bio tech firm said Thursday that practices at a company it acquired in Mexico have triggered DOJ and SEC investigations into potential environmental and FCPA compliance matters.… Continue Reading
The prosecutor who oversees the criminal division’s FCPA unit said the DOJ wants corporate acquisitions to happen and doesn’t want the “specter of enforcement to be a risk factor that impedes such activity by good actors.”… Continue Reading
Anti-bribery and corruption due diligence should be conducted on cross-border transactions. The prospect of successor liability alone makes performing such due diligence a requirement for corporate acquirers answering to boards and shareholders, and private equity funds answering to investors.… Continue Reading
Mondelēz International, Inc. agreed Friday to pay $13 million to resolve FCPA offenses related to payments by its Cadbury unit in India.
Platform Specialty Products Corporation said in an SEC filing Friday that it is conducting a foreign bribery investigation of third-party payments in West Africa.
The chemical maker said payments to third-party agents by a company it acquired in 2015, Arysta LifeScience, may have violated the FCPA.… Continue Reading
Mondelēz International, Inc. said in a securities filing Friday that it received a Wells notice from the SEC in connection with operations in India and a factory there it bought from Cadbury.… Continue Reading
The lower house of Russia’s national legislature — the State Duma — has been considering draft amendments to the law on the criminal liability of a legal entity.
The main purpose of the amendments is compliance the Russian Criminal Code with international treaties (e.g.… Continue Reading
In the DOJ’s second FCPA opinion procedure release of the year, the agency restated some important boundaries around successor liability.
Successor liability makes an acquiring company responsible for criminal acts of the acquired company before the acquisition.… Continue Reading
Milpitas, California-based Dialogic Inc. said in August that the SEC had ended an informal investigation of potential FCPA violations by a company Dialogic acquired in 2010 and won’t take any enforcement action.… Continue Reading
A key vote has occurred in the Brazilian legislature on its anti-corruption bill, the Clean Company Act. And anti-corruption advocates may deem it only a partial success.
Recall that though Brazil was among the original 1997 signatories to the OECD Convention on Combating Bribery, its eventual statute imposed liability only on natural persons and not on companies.… Continue Reading