Stanley Black & Decker disclosed in its Feb. 23 annual report that it is looking into potential violations of the U.S. Foreign Corrupt Practices Act.
In its annual report, the U.S. manufacturing company said it “has identified certain transactions relating to its international operations that may raise compliance questions” under the FCPA, and that it has voluntarily disclosed this information to both the Department of Justice and the Securities and Exchange Commission. “The company is cooperating with both agencies in their investigations,” Stanley Black & Decker said in the filing.
The company added that it is “committed to upholding the highest standards of corporate governance and is continuously focused on ensuring the effectiveness of its policies, procedures, and controls.” It further noted that it is “in the process, with the assistance of professional advisors, of reviewing and further enhancing relevant policies, procedures, and controls.”
In that same filing, Stanley Black & Decker disclosed that “certain expenses it incurred in previous years constituted undisclosed perquisites,” and that it has voluntarily disclosed this information to the SEC as well “and is cooperating with the SEC’s investigation of this matter.” 
Jaclyn Jaeger is a contributing editor at Compliance Chief 360° and a freelance business writer based in Manchester, New Hampshire.