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Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
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

Total, CEO face French criminal case

The Total building (Total HQ) in la Défense near Paris, France (photo courtesy of Wikipedia)Here’s the disclosure from Total SA’s Form 6-K (Report of Foreign Private Issuer) filed with the SEC on April 29, 2013 dealing with a criminal investigation in France of the company, its chairman and CEO, and other employees:

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Several countries have launched investigations concerning possible violations related to the United Nations (UN) Oil-for-Food Program in Iraq.… Continue Reading

Total carries forward $398 million for possible FCPA settlement

Here’s the complete FCPA disclosure from Total SA’s Form 6-K (Report of Foreign Private Issuer) filed with the SEC on April 29, 2013:

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In 2003, the United States Securities and Exchange Commission (SEC) followed by the Department of Justice (DoJ) issued a formal order directing an investigation in connection with the pursuit of business in Iran by certain oil companies including, among others, TOTAL.… Continue Reading

Total on trial for oil-for-food violations

The French oil giant Total SA is on trial in Paris for violating the United Nations oil-for-food program.

Total is accused of buying oil directly from the former Saddam Hussien regime in violation of the U.N.… Continue Reading

The FCPA versus global terrorism

Innovative uses of anti-corruption laws to fight terrorists and tyrants and companies that help them is the subject of a breakthrough article published this week by the Wharton School of the University of Pennsylvania.… Continue Reading

Total SA heads for the top ten

French oil giant Total SA said in its third quarter results it has reserved $398 million for an FCPA settlement with the DOJ and SEC.

U.S. enforcement agencies have been investigating Total’s operations in Iran since 2003.… Continue Reading

Will Total S.A. Fight Back?

In recent SEC filings, French oil giant Total said it rejected ‘out-of-court settlement solutions’ with the DOJ and SEC that would end their longstanding FCPA investigations. And while Total said it is still talking with the agencies, it also said it’s free not to settle, ‘in which case it would be exposed to the risk of prosecution in the United States.’… Continue Reading

GE In $23 Million SEC Settlement

General Electric Company, whose compliance program is among the most respected and admired in the world, has settled civil violations of the Foreign Corrupt Practices Act with the Securities and Exchange Commission.… Continue Reading

The Gallic Shrug

French energy giant Total S.A. said bribery allegations it disclosed last week for its role in the U.N. oil for food program in Iraq are nothing new. A Paris judge brought the charges on February 22, the company said in its annual report released Friday.… Continue Reading

C’est Magnifique!

Francophile kleptocrats everywhere must be shaking in their Yves Saint Laurent double monk-strap black boots today, thanks to a Paris magistrate’s ruling. He accepted a case brought by Transparency International that requires French authorities to investigate how three African rulers, their family members and friends managed to acquire numerous luxury homes, cars and other assets in France.… Continue Reading