A civil complaint filed last month in Indiana state court alleges that Allison Transmission executives paid bribes in China to win work there.
Stephen Lowe, an American working for Allison in Shanghai, said he witnessed cash payments, gifts of jewelry, and lavish parties for customers.… Continue Reading
An international law firm thinks the SEC’s proposed whistleblower rules could hurt corporate compliance efforts and waste taxpayer money.
A paper recently issued by Fulbright & Jaworski’s FCPA and International Anti-Corruption group says companies will likely be spending more money on defensive internal investigations instead of proactive compliance as a result of the new whistleblower program in the months and years to come.… Continue Reading
For years now, a certain reader has been stitching together for us enforcement topics in ways we hadn’t thought of.
This time our friend — who’s a top compliance professional and wants to remain anonymous — connects the dots from a few recent headlines.… Continue Reading
By Shruti Shah and Robert N. Walton
How the controversial whistleblower incentive provisions in the Dodd Frank Act will be implemented became slightly clearer last Wednesday. The SEC’s proposed new rules, available here, set the stage for the issuance of final rules next spring.… Continue Reading
The DOJ is investigating potential bribery in Yemen by oil field services giant Schlumberger Ltd., according to a report today by Dionne Searcey of the Wall Street Journal.
The investigation focuses on payments to a consulting firm with ties to Yemen’s government when Schlumberger needed approval to create an oil-exploration databank there.… Continue Reading
In its quarterly report released August 9, SciClone Pharmaceuticals, Inc. said it received an SEC subpoena and a letter from the DOJ investigating the “sale, licensing and marketing of its products in foreign countries, including China.”
According to SciClone, the DOJ said it was looking at FCPA issues in the pharmaceutical industry generally, and had received information about SciClone’s practices suggesting possible violations.… Continue Reading
The Senate’s version of the financial reform bill can be downloaded here. Under the bill, which still needs to be reconciled with the House version and signed into law, FCPA whistleblowers could receive from 10% to 30% of amounts recovered through enforcement actions.… Continue Reading