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Entries in Gift Giving (52)

Thursday
Aug112016

Compliance Alert: Gift-giving, rebates and kickbacks in South Korea

It is customary to send gifts and make cash donations in the regular course of business in South Korea. Exchanging gifts is a deeply rooted custom in Korean society, and this practice has historically been the source of various compliance issues for multinational companies operating in South Korea.

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Friday
Jun172016

Gov. McDonnell and the Supremes: Corruption by any other name is still corruption

The Supreme Court of the United States is currently finalizing its review of former Virginia Governor Bob McDonnell’s 2015 conviction, with the Court’s opinion expected at the end of June.

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Wednesday
Jan272016

Cold shower time: Missouri may require disclosure of sexual relations as ‘gifts’

The state of Missouri may soon require a unique application of its ethics laws. A state lawmaker recently proposed a bill seeking to require lobbyists to disclose any “sexual relations” they may have with lawmakers (or their staffers).

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Monday
Oct262015

Joseph Spinelli: FCPA enforcement takes aim at financial services 

This summer the SEC charged BNY Mellon with violating the FCPA by providing highly sought-after student internships to family members of foreign government officials who were directly affiliated with a Middle Eastern sovereign wealth fund. The enforcement action is a clear harbinger of what's to come.

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Monday
Oct052015

Bristol-Myers Squibb pays $14 million to resolve China FCPA offenses

The Securities and Exchange Commission said Monday that Bristol-Myers Squibb agreed to settle charges that its joint venture in China made cash payments and provided other benefits to health care providers at state-owned and state-controlled hospitals in exchange for prescription sales.

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Tuesday
Mar032015

How do pharmas pay bribes? The SEC counts the ways

In a speech Tuesday at CBI's Annual Pharmaceutical Compliance Congress in Washington D.C., the head of the SEC's enforcement division, Andrew Ceresney, left, talked about the most common ways pharmas violate the FCPA.

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Tuesday
Feb102015

Compliance Alert: Five risks for Fashion Week 2015

Image courtesy of Mercedes-Benz Fashion WeekFashion Week 2015 begins on February 12 in New York. Compliance will certainly not be on the agenda and the fashion industry has never attracted the kind of regulatory attention “enjoyed” by industries that rely heavily on public sector sales. But that doesn't mean that the industry is free of corruption risks and immune from potential FCPA enforcement actions.

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Tuesday
Nov182014

SEC sanctions ex FLIR employees for Saudi Arabia bribes

Image courtesy of FLIRThe Securities and Exchange Commission said Monday it sanctioned two former employees in the Dubai office of a U.S.-based defense contractor for violating the Foreign Corrupt Practices Act by taking government officials in Saudi Arabia on a “world tour” to help win business for the company. The two later created phony records to hide their offenses.

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Thursday
Oct162014

China whistleblower exposes ‘bribery list’ naming 40 officials 

Discipline authorities at Jingbian County of northwestern China’s Shaanxi province have launched investigations into more than 40 local government officials who have been implicated in an alleged “bribery list” scandal.

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Friday
Oct032014

China considers banning officials from receiving monetary gifts

Draft amendments to China’s Criminal Law currently under consideration would subject government officials who receive certain money or property to criminal penalties.

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Thursday
Aug212014

China: Mooncakes and Mooncake Coupons Revisited

I wrote a post two years ago (here) describing some of the compliance complexities in giving mooncakes and mooncake coupons as part of China’s Mid-Autumn Festival, which falls on September 8 this year. Those compliance complexities still exist.

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Tuesday
May202014

'New Walmart' says compliance chiefs should report directly to boards

Image courtesy of WalmartThe compliance profession has for years been beset by a debate with the outside world over the position of Chief Compliance and Ethics Officer (CECO). Should the CECO be part of the law department reporting to the general counsel? Or should the CECO be an independent, equal member of the C-Suite, reporting to the CEO with direct, regular access to the board? In my opinion and many others, this is the most consequential debate in the compliance field today.

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