General Electric Settles Iraqi Oil For Food Matter
Just when you think Iraqi Oil for Food Program FCPA-related enforcement actions have run their course, along comes another.
Just when you think Iraqi Oil for Food Program FCPA-related enforcement actions have run their course, along comes another.
by Thomas Fox, FCPA Compliance Attorney
In order to assess any risk a company must have a framework in place to begin this analysis. The benefits of a risk-based compliance system are clear. To make this risk-based determination, a company must institute a structure to make an appropriate assessment.
Satyam was recently embroiled in one of the nastiest corporate governance scandals in the world’s history when founder Ramalinga Raju faced charges of criminal conspiracy and falsification of records, among other accusations.
Despite the company’s problems, however, it has maintained some of the its most pivotal business relationships.
Yesterday it was announced that GE would be paying a $50 settlement fine to the SEC in response to a civil suit filed by the agency against the company for accounting fraud. GE is paying the fine, but without admitting guilt nor denying the allegations.
17 companies have joined the Business Ethics Leadership Alliance to improve corporate ethics in America, in response to the declining public and political opinion of large corporations. GE, Wal-Mart, Dell, and Pepsico are among the companies joining.
