Cobalt International Energy Inc. said Tuesday it received a "Wells Notice" in connection with the SEC's investigation of its operations in Angola and potential liabilities under the Foreign Corrupt Practices Act.
Entries in FCPA (25)
We've been talking for years here at the FCPA Blog about the dangers of uneven anti-bribery enforcement among capital-exporting nations. I've written about what happens when some capital-exporter enforce a bribery prohibition while some do not; in particular, when the United States enforces and China does not. Not only can it put Chinese companies at a competitive advantage, but it will tend to promote the dominance of Chinese firms, and its government, in some of the more corruption-prone markets, particularly Africa.
The UK's Serious Fraud Office (SFO) is pursuing its investigation of alleged corruption at Paris-based Alstom now that the Attorney General has given the agency permission to prosecute the company and former employees for alleged overseas bribery, if deemed appropriate.
The first post in this series mined DOJ Opinion Releases from the early 1980s concerning hiring family relatives. We discovered a bright-line rule: hiring the relative of a foreign official does not violate the FCPA if nothing of value passes through the relative to the official.
The Securities and Exchange Commission asked Quanta Services Inc. to preserve documents tied to its Foreign Corrupt Practices Act compliance program, the company said in a securities filing Thursday.
The SEC has expanded its investigation into several large banks' hiring practices in Asia, requesting more information that could show the firms violated the FCPA by hiring relatives of well-connected officials.
Walmart Inc. said it has spent $439 million in legal fees and other costs associated with investigations of alleged FCPA violations and revamping its global compliance protocol.
Delphi Automotive PLC said in a filing last Thursday that it reported potential Foreign Corrupt Practices Act violations in China to U.S. authorities.
Dow Jones Risk & Compliance conducted an online survey in February, asking 383 compliance professionals around the world to evaluate their anti-corruption compliance programs and name their top risk concerns.
International laws vary as to which persons are of most interest to regulators in their anti-money laundering and bribery rules. This makes creating a list of politically exposed persons a difficult task -- even if a critical one.
This post, the first of two parts, is based on an article that first appeared in the Magazine of the Deutsch-Amerkanische Juristen-Vereinigung by T. Markus Funk. Mr. Funk is a partner at Perkins Coie specializing in global anti-corruption compliance and internal investigations. The article is here.
Libya's sovereign wealth fund has filed a $1.5 billion lawsuit against Société Générale S.A., accusing it of funnelling tens of millions in bribes to associates connected to former Libyan dictator Muammar Gaddafi.