Foreign Corrupt Practices Act

The Foreign Corrupt Practices Act of 1977 (FCPA) (15 U.S.C. § 78dd-1, et seq.) is a United States federal law known primarily for two of its main provisions, one that addresses accounting transparency requirements under the Securities Exchange Act of 1934 and another concerning bribery of foreign officials.
Posts about Foreign Corrupt Practices Act
  • Shell Oil Guilty of FCPA Foreign Bribery? (Whistleblower Award Post)

    … investigation by Italian and Dutch prosecutors has now been expanded to 6 countries including the United States. Shell’s exposure in the United States could be huge since it was already subject to a deferred prosecution agreement for an earlier incident involving illegal payments to Nigerian officials. Between 1999 and 2005, Shell was developing another oil…

    Due Diligence- 16 readers -
  • ING Bank Subject to Dutch, SEC Probe – Whistleblower Opportunity

    … Where there is smoke, there is often fire. We have all heard that adage and its usually true. Netherlands based ING disclosed that it is being investigated by both Dutch and American authorities. According to a recently filed SEC disclosure, “ING Bank is the subject of criminal investigations by Dutch authorities regarding various requirements…

    Due Diligence- 19 readers -
  • More Convictions in Venezuela Foreign Bribery Scheme

    … awarded contracts. Beech also admitted that he worked with the foreign officials to hide bribes. To date, eight people have been convicted in connection with the Petróleos de Venezuela SA foreign bribery scheme. Foreign Bribery and Whistleblower Awards People with inside information about violations of the Foreign Corrupt Practices Act are eligible…

    Due Diligence- 13 readers -
  • FCPA Foreign Bribery Active Investigations – Last Call for Whistleblowers

    …, AstraZeneca PLC, Eli Lilly & Co. and GlaxoSmithKline PLC. Petróleo Brasileiro SA – Petrobras Name a country that isn’t investigating Petrobas! The company seems to be on everyone’s regulatory radar. If you know of any wrongdoing by the company, call us! Rio Tinto PLC Rio Tinto shares “honors” with Petrobas for always being in the wrong place…

    Due Diligence- 18 readers -
  • NY Pension “Pay to Play” Scheme Examined (FCPA Post)

    … What do the Foreign Corrupt Practices Act (FCPA) and the recent “pay to play” indictment of a former New York state pension system portfolio manager have in common? Plenty! The details of the indictments offer a window of how public officials can be corrupted and the steps taken to cover up the evidence. This week Manhattan’s US Attorney, Preet…

    Due Diligence- 13 readers -
  • Whistleblower Retaliation Case Leads to $1.4 Million Fine

    … protection. Despite the bankruptcy, the company likely still have to pay a fine for its wrongdoing. SandRidge’s Illegal Separation Agreement When workers voluntarily leave their employment, most companies use a separation agreement. In exchange for some token compensation, workers often are asked not to steal trade secrets or disparage the company…

    Due Diligence- 13 readers -
  • French Whistleblowers Dissatisfied? File in the US! (Sapin II / FCPA)

    … company. In November of 2015, the company agreed to pay the then largest ever criminal penalty for foreign bribery, $772 million. The company admitted to bribing officials in Saudi Arabia, Indonesia, the Bahamas and Egypt. What makes this case unique is that Alstom was prosecuted by the U.S. Justice Department under the FCPA and not the French…

    Due Diligence- 15 readers -
  • FCPA, Foreign Bribery and Natural Resources – Rio Tinto

    … Many of the world’s natural resources are found in third world and developing countries. While the United States is blessed with oil, natural gas, uranium and other minerals, much of what comes out of the ground comes from other countries. U.S. companies and multinational companies with certain U.S. ties are obligated to follow American anti…

    Due Diligence- 17 readers -
  • SEC Fines Anheuser Busch for Trying to Impede FCPA Whistleblower

    … InBev (InBev) managed to do both and is now paying the price. The Foreign Corrupt Practices Act (FCPA) prohibits companies from bribing foreign officials with the intent to influence those officials to assist the company to obtain or retain any sort of business advantage. Earlier this fall, the SEC found that InBev used third-party sales promoters…

    Due Diligence- 20 readers -
  • Oil Patch Whistleblower Opportunities

    … in “resource extraction.” The rules cover the mining and energy sectors. Companies that bribe foreign officials are already required to self-report under the Foreign Corrupt Practices Act (FCPA) but that’s like asking a bank robber to call the police after the robbery. Under the new rules, companies will need to immediately disclose any payments made…

    Due Diligence- 13 readers -
  • AstraZeneca to Pay $5+ mm to Settle Foreign Bribery Charges

    … Pharmaceutical giant AstraZeneca PLC agreed to pay $5.5 million to settle foreign bribery charges involving foreign officials in China and Russia. The company appears to have been given a break on fines because of its cooperation in the investigation. The fines were levied by the Securities and Exchange Commission (SEC) pursuant to the Foreign…

    Due Diligence- 16 readers -
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