Entries in Disclosure (72)
The U.S. Senate voted Friday to repeal an SEC rule that would have required oil and gas and mining companies to disclose each year all of their payments to foreign governments for concessionary rights, permits, taxes, and other things.
FCPA enforcement has always been bi-partisan, commanding principled support from both sides of the aisle. Is that about to change?
So the Trump Administration has nominated a new SEC chairman in the form of Jay Clayton, dealmaker and securities lawyer at Sullivan & Cromwell. The compliance community’s reaction seems to be vague concern, based on a paper (pdf) Clayton co-authored in 2011 criticizing FCPA enforcement.
Medical device maker Misonix Inc. said Wednesday it self disclosed possible FCPA violations to the DOJ and SEC.
Here's the full FCPA disclosure from HP's Form 10-K filed with the SEC on March 11, 2014:
Here's what Wal-Mart Stores Inc. said in its quarterly report (Form 10-Q) filed with the SEC on December 6:
Whistleblower tips and complaints increased to 3,238 in 2013, up from 3,001 in 2012, the SEC's Office of the Whistleblower said in its annual report to Congress. There were 149 FCPA tips in fiscal year 2013, up from 115 in 2012.
Listing shares internationally often carries unwelcome regulatory and compliance risks. This was recently highlighted by the SFO’s corruption probe into the London-listed Kazakh miner ENRC, shortly to be delisted, as well as probes into Indonesia miner and London-listed Bumi plc, and most recently by the SEC’s investigation of South Africa’s Gold Fields, which has a secondary New York listing.