Last month (see here) Innospec, Inc. disclosed that it accrued $40.2 million for potential settlement of corruption investigations on both sides of the Atlantic. Yesterday, on both sides of the Atlantic, it was announced that Innospec agreed to resolve these enforcement actions by, among other things, paying $40.2 million in combined fines and penalties. How's that for an accurate ...
Unfortunately, the FCPA enforcement action against Nexus Technologies Inc., a Philadelphia-based export company ("Nexus"), Nam Nguyen (Nexus's President and Owner), and his siblings and fellow Nexus employees, Kim Nguyen and An Nguyen came to an end yesterday.
Alexandra Wrage, President and Founder of TRACE, discusses a few key steps to bolster anti-bribery compliance programs than help companies maintain strong compliance in any economy by lowering costs without lowering standards.
In response to her company's ongoing FCPA issues, Panalpina CEO Monika Ribar said, "[i]t is not easy being under investigation for two years, and [the FCPA investigation] is not making the situation any easier."
Mark Mendelsohn (DOJ Deputy Chief, Fraud Section and the DOJ's FCPA "top cop") recently defended the 2008 Siemens enforcement action. This post takes issue with Mendelsohn's defense of the Siemens enforcement action.
Tech firms have a long history of bringing their products and services to local markets worldwide. KPMG's Henry Keizer analyzes five compliance challenges that they often find can present the biggest challenge when pursuing international opportunities.
Mike Koehler discusses the recent release by the OECD of "the most comprehensive guidance ever provided to companies and business organizations by an international organization" on internal controls, ethics and compliance programs to combat bribery.
It was reported this weekend that Daniel Alvirez, the President of ALS Technologies, Inc., is expected to plead guilty to charges of conspiracy to violate the FCPA set forth in a superseding indictment and cooperate in the government's investigation.
Gary Sturisky discusses three areas of compliance focus that demand attention in 2010: 1) The American Recovery and Reinvestment Act of 2009 (ARRA); 2) the Payment Card Industry (PCI) Data Security Standard (DSS); and 3) the FCPA.
The FCPA Professor analyzes the latest developments in the BAE case, which include the "bribery yet bribery" case leaving the U.S. and heading across the pond to the U.K.