German software company SAP will pay more than $220 million to resolve investigations by the U.S. Department of Justice and the Securities and Exchange Commission into violations of the Foreign Corrupt Practices Act (FCPA). The SEC found that SAP violated the FCPA by paying bribes to foreign officials in South Read More
Last month, President Biden signed the annual defense spending bill for 2024, otherwise known as National Defense Authorization Act (NDAA), into law. Contained in the NDAA is a provision titled the Foreign Extortion Prevention Act (FEPA), which for the first time makes it a crime for foreign officials or other Read More
The Securities and Exchange Commission has filed charges against Clear Channel Outdoor Holdings Inc. for violations of the Foreign Corrupt Practices Act (FCPA). Clear Channel Outdoor agreed to pay more than $26 million to resolve the charges that it bribed Chinese government officials to obtain outdoor advertising contracts. The SEC’s Read More
A global measure of corruption is sounding the alarm that not only is the level of bribery and corruption not improving around the world it is worsening in several countries, including in such developed nations as Canada, Austria, and the United Kingdom. The 2022 Corruption Perceptions Index (CPI), released this Read More
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 Read More
The Department of Justice, Securities and Exchange Commission, and Ericsson jointly agreed to extend the term of the telecommunication company’s compliance monitorship for one year, as Ericsson faces another round of investigations for corruption allegations it never reported. In December 2019, Ericsson was ordered to pay more than $1 billion Read More
Leidos, a U.S. engineering company, disclosed in its latest quarterly filing that it has received two federal grand jury subpoenas in connection with two separate criminal investigations relating to potential violations of the Foreign Corrupt Practices Act and antitrust laws. In a Nov. 1 quarterly filing, Leidos cryptically said “through Read More
Oracle will pay $23 million to settle charges brought by the Securities and Exchange Commission resulting from violations of the Foreign Corrupt Practices Act (FCPA), the SEC announced. It is the second time Oracle has settled charges of FCPA violations. According to the SEC order, from at least 2014 through Read More
During two recent speeches, U.S. Department of Justice officials outlined broad policy changes on such topics as voluntary self-disclosure, the use of personal communication devices by executives, compensation clawback policies, chief compliance officer certifications, and others. Last week, Deputy Attorney General Lisa Monaco announced several policy changes intended to clarify Read More
GOL Linhas Aéreas Inteligentes (GOL), Brazil’s second largest airline, must pay $41.5 million to resolve parallel bribery investigations by criminal and civil authorities in the United States and Brazil resulting from violations of the Foreign Corrupt Practices Act. GOL also entered a three-year deferred prosecution agreement (DPA) with the Department of Justice Read More
