The Justice Department Monday published a new version of its guidance on how it evaluates compliance programs when making corporate charging decisions. … Continue Reading
Posts Tagged: Third Parties
Coping with the coronavirus will require enhanced vigilance by compliance teams. As boards and senior executives navigate the way forward with a focus on sustainability and financial resilience, compliance officers must ensure they remain at the forefront and visible.… Continue Reading
Working with third parties continues to be the single biggest corruption risk for business. Almost one in two enforcement actions concluded since the OECD Anti-Bribery Convention came into force in 1999 was the result of bribery through sales agents, intermediaries, distributors or brokers.… Continue Reading
A key challenge for most companies is finding qualified business partners with an understanding and acceptance of ethics and compliance best practice. The challenge is most acute in markets where the state dominates commerce or with stringent local content requirements.… Continue Reading
Among the findings — 40 percent of all compliance officers surveyed believe their company’s bribery and corruption risks will increase in 2016.… Continue Reading
The report (available here in pdf) amplifies the growing bribery and corruption risks that third parties present and the challenges companies face in monitoring these intermediaries.… Continue Reading
FCPA Blog sponsor Kroll released a survey showing that 75% of compliance officers aren’t involved in managing cyber security risk.
And nearly 44% of senior-level compliance professionals who responded said the chief compliance officer is only responsible for privacy compliance and breach disclosure after an incident but has no role in addressing cyber security risks before one.… Continue Reading
Brazil’s Clean Companies Act took effect on January 29. It subjects domestic and multinational companies operating in Brazil to severe civil and administrative sanctions for bribing domestic or foreign government officials.… Continue Reading
Two former employees of Sanofi-Aventis were convicted by a German court on bribery charges 10 months ago and the Paris-based pharma was fined €28 million ($39 million), according to a Reuters report last week.… Continue Reading
Kansas-based Layne Christensen Company said last week it has increased its reserve for a potential FCPA settlement from $4.8 million to $10.4 million. That amount, the company said, represents the low end of the range for a possible settlement, which could also reach $16 million or more.… Continue Reading
Park-Ohio Industries Inc. said on Thursday that a third-party payment on its behalf to tax authorities may have violated the Foreign Corrupt Practices Act.
The subsidiary of Park-Ohio Holdings Corp. said in its latest quarterly filing with the Securities and Exchange Commission that it received a subpoena from the SEC in August.… Continue Reading
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