Sun Cites “Increased Regulatory Complexity and Corporate Compliance Requirements” For Extensive Partner Information Request
Some Canadian partners of Sun Microsystems were angered and surprised recently by an extensive, and purportedly invasive, request for information that is part of Sun’s renewed due diligence focus on overseas internal activities.
According to ITBusiness.ca, a site that tracks IT business news in Canada, the request by Sun asked partners to provide confidential information regarding ownership, employees, and contractors, including: resumes; background checks; personal information regarding private places of residence; and other information that some partners felt uncomfortable providing.
Most partners did reportedly comply with the request, hoping to maintain positive relations with Sun.
As the article notes, the information request program by Sun could be related to a recent disclosure the company filed with the SEC in regards to certain internal overseas activities it believes may have been in violation of the FCPA.
For more:
- Sun’s demand for personal information angers partner community — (ITBusiness.ca)
- Background: Sun’s Due Diligence partner program — (ITBusiness.ca)
- Sun acting very unprofessionally with its due diligence program — (ITBusiness.ca)
Do you believe that Sun’s request for information as part of its due diligence program is inappropriate?
Tags: disclosure, due diligence, fcpa, foreign corrupt practices act, IT, sec, sun microsystems
