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)

    … at the time of the questionable transactions due to another Foreign Corrupt Practices Act (FCPA) case. Even after the emails surfaced, all parties including former Nigerian president Goodluck Jonathan have denied any wrongdoing. Shell Oil’s Involvement with Dan Etete and President Jonathan Lest you think that Shell is innocent and had no reason…

    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 -
  • Venezuela Public Corruption and Fraud: More Whistleblowers Needed

    … corrupt in the world. In the Americas, only Haiti has a worse ranking and most companies steer clear of Haiti unless they absolutely must do business there. (The Economist magazine put Venezuela as the 8th worst and even below Haiti and Zimbabwe!) Overview of Public Corruption in Venezuela Chavez was the head of the PSUV, the Socialist Party…

    Due Diligence- 15 readers -
  • More Convictions in Venezuela Foreign Bribery Scheme

    … equipment and services to PDVSA. One of the purchasing managers for the Venezuelan state owned oil company was Alfonzo Gravina. Although a US citizen living in Houston, the FCPA still considers Gravina to be a foreign official. Prosecutors say Hernandez made and paid for a hotel reservation in New York City for Gravina. When he paid for the hotel…

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

    … Aegerion Pharmaceuticals Inc 3 Affinia Group Intermediate Holdings Inc 4 Alere Inc 5 Alexion Pharmaceuticals Inc 6 Amaya Inc 7 Barclays PLC 8 Beam Inc 9 Bilfinger SE 10 Brookfield Asset Management Inc 11 CEMEX SAB de CV 12 Centrais Elétricas Brasileiras SA – Eletrobrás 13 Cobalt International Energy Inc 14 Cognizant Technology…

    Due Diligence- 18 readers -
  • Feds Nab 6 More for Bribery of Foreign Officials (and the Officials too!)

    … the Foreign Corrupt Practices Act. In a separate proceeding, two former Mexican officials also pleaded guilty to conspiracy to commit money laundering. All six men face maximum penalties ranging between 5 and 20 years. One of the two foreign officials, Ramiro Ascencio Nevarez, was already sentenced. He is serving 15 months in a U.S. prison…

    Due Diligence- 21 readers -
  • NY Pension “Pay to Play” Scheme Examined (FCPA Post)

    … on December 15th for his role in the alleged scheme. The charges he pled to include: conspiracy to commit securities fraud; securities fraud; conspiracy to commit honest services wire fraud; honest services wire fraud; bank fraud; and conspiracy to obstruct justice in the SEC investigation. It appears that he is cooperating in the case against Kang…

    Due Diligence- 14 readers -
  • Whistleblower Retaliation Case Leads to $1.4 Million Fine

    …,the company still had not completed the investigation of his claims. Senior management instead decided to replace the engineer with someone “who could do the work without creating all of the internal strife.” Dodd Frank’s Whistleblower Retaliation Protections In 2010, Congress passed the Dodd Frank Wall Street Reform and Consumer Protection Act. The new…

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

    … claims to the contrary France has a long history of simply looking the other way in case involving corruption in public procurement. This post will analyze the law using the US Foreign Corrupt Practices Act (FCPA) as a benchmark. Sapin II For purposes of this post, we will refer to the Law on Transparency, the Fight Against Corruption…

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

    … Bribery One of the biggest mining companies in the world is Rio Tinto PLC. Based in London, the company has 55,000 employees and operates around the world. Last month the company fired two senior executives amid an on-going internal investigation about payments made to a consultant helping the company obtain mining rights in Guinea. Companies have long…

    Due Diligence- 17 readers -
  • Whistleblowers Opportunity! Samsung Influence Peddling Scandal

    … has reporting obligations with the SEC. Influence peddling means the use of political influence in exchange for money or favors. Under the U.S. Foreign Corrupt Practices Act (FCPA), soliciting, offering, accepting or paying bribes or favors in exchange for favorable business treatment is illegal. Congress passed the law in 1977 in the hopes…

    Due Diligence- 15 readers -
  • SEC Fines Anheuser Busch for Trying to Impede FCPA Whistleblower

    … be both criminal and civil. The SEC’s Whistleblower Program pays insiders with information about FCPA and securities law violations awards of between 10% and 30% of whatever the government collects. Although the FCPA does not directly have anti-retaliation provisions, the SEC Whistleblower Program, the Dodd Frank and Sarbanes Oxley Acts all have…

    Due Diligence- 20 readers -
  • DOJ Investigating Standard Chartered – FCPA Whistleblower Post

    …. The allegations concern an Indonesian power company owned by Standard Chartered Bank which itself is part of Standard Chartered PLC. Under U.S. law, bribes to foreign officials violate the Foreign Corrupt Practice Act (FCPA). Whistleblowers who report these violations can receive an award if they have inside information about the wrongdoing. Based…

    Due Diligence- 32 readers -
  • Oil Patch Whistleblower Opportunities

    … and Dodd Frank law. This means they are in addition to the existing disclosures required by the FCPA. The new rules will begin to be phased in later this month. New Whistleblower Opportunities The SEC has a robust whistleblower program that pays awards to those that report securities related fraud. Because the new rules are part of the Securities…

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

    …. Once again the scheme appears to have extended through management. Foreign Corrupt Practices Act (FCPA) and Whistleblower Awards U.S. public companies or foreign companies that issue or market securities in the U.S. are subject to the Foreign Corrupt Practices Act. That law makes it illegal for companies to bribe foreign officials. Even though…

    Due Diligence- 16 readers -
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