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FCPA Blog Daily News

Entries in Securities and Exchange Commission (23)

Thursday
Aug172017

SEC fines chief compliance officer for inaccurate securities filing

The Securities and Exchange Commission Tuesday fined a chief compliance officer for failing to verify information provided by an investment adviser that turned out to be false.

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Wednesday
Jun042014

Second circuit says Judge Rakoff was wrong to reject SEC, Citigroup settlement

U.S. Federal District Judge Jed S. RakoffA three-judge panel of the United States Court of Appeals for the Second Circuit ruled Wednesday that Judge Jed S. Rakoff made a mistake when he rejected a negotiated settlement between the SEC and Citigroup three years ago.

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Wednesday
Apr092014

New SEC guidance on conflict minerals disclosure

The Securities and Exchange Commission on Monday issued guidance on the conflict-minerals disclosure requirements contained in the Dodd-Frank Act.

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Monday
Mar172014

Lamb to White: What's wrong with us? (with video)

Mary Jo White, chairman of the Securities and Exchange Commission, sat last month for a terrific interview with C-SPAN founder Brian Lamb as part of its Q&A series.

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Thursday
Jan022014

China sends Big Four audit records to SEC 

The U.S. Securities and Exchange Commission’s (SEC) may finally be winning its long battle to convince China to hand over audit papers of companies under investigation in the U.S.

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Thursday
Dec192013

SEC annual report touts FCPA enforcement 

The U.S. Securities and Exchange Commission (SEC) published its fiscal year 2013 Agency Financial Report (AFR) to detail its financial and performance results for the President, Congress and public at large. Its purpose is portray its accomplishments and strategic goals for the next year, as well as its financial picture for budget planning. The report discusses its enforcement actions related to the FCPA in the past year, and the guidelines it provided businesses in complying with the law.

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Monday
Nov252013

Distributor doldrums – How deep do they want us to dig?

Since August 2012, there has been a lot of discussion in anti-corruption circles about Oracle’s settlement with the SEC, including here. Much of the past discussion has focused on the fact that the SEC charged Oracle with books & records and internal controls FCPA violations without an attendant allegation of bribery. Rather, the SEC said in its complaint that “[f]rom 2005 to 2007, certain employees of Oracle's Indian subsidiary Oracle India Private Limited  ("Oracle India") secretly "parked" a portion of the proceeds from certain sales to the Indian government and put the money to unauthorized use, creating the potential for bribery or embezzlement.” (emphasis added).

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Thursday
Oct312013

SEC awards $150,000 to fraud-stopping whistleblower

The SEC announced an award of over $150,000 to an unnamed whistleblower whose tips helped the agency stop a scheme that was defrauding investors.

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Tuesday
Oct292013

How whistleblowers get top dollar from the SEC

The SEC now pays for information about securities law violations -- including the FCPA -- leading to a recovery of at least $1 million. The whistleblower reward can be from 10% to 30% of the recovery -- a big range that's entirely within the SEC's discretion.

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Wednesday
Oct232013

Wal-Mart and the FCPA : An open letter to the DOJ and SEC

We considered in a prior post the new spirit of tough enforcement at the DOJ and SEC and the need to seize the opportunity for more advocacy by the compliance profession, in particular to head off a resolution of the Wal-Mart investigation harmful to compliance officers and the public.

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Friday
Oct112013

‘Misconduct is an outlier in an ethical culture’

The SEC's associate director of enforcement, Stephen L. Cohen, left, had some great things to say when he spoke this week at the SCCE Annual Conference in Washington D.C.

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Thursday
Oct102013

Second chance for SEC whistleblowers

Sean McKessy, chief of the SEC whistleblower officeSome SEC whistleblowers act on principle and not for the money. But last week's $14 million reward from the SEC may cause some tipsters to reconsider. Those who want a second chance to follow the money may get one.

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