Enforcement Archive

May 20, 2011
This year, many US companies have been on a bumpy rollercoaster ride with the DoJ and SEC when it comes to the four dreaded words: ‘Foreign Corrupt Practices Act’ (FCPA). With increasing international trade and attractive cross-border deals, the FCPA has leapt from a seldom enforced, broadl...
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Apr 22, 2011
The crack down on corruption is on the rise, according to 78 percent of business professionals taking part in a Deloitte webcast on the implications of the US’s Foreign Corrupt Practices Act (FCPA) in the BRIC countries. A similarly large number (73 percent) of those professionals, however, say they are unfamiliar with the provisions of the UK Bribery Act. ‘Bus...
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Apr 12, 2011
According to the SEC’s complaint, foreign subsidiaries of the New Jersey-based firm allegedly bribed public doctors in Europe, and offered kickbacks to officials in Iraq, in an effort to secure business transactions.   Under the FCPA, US companies are prohibited from paying bribes and engaging in fraudulent activity with foreign officials to win business overseas...
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Apr 04, 2011
According to VeriFone, the transaction should be closed upon completion of the company’s acquisition of Hypercom, which is set to happen in the second half of 2011. Last November, VeriFone signed a $485 million, all-stock takeover agreement for Hypercom. After the merger is completed, VeriFone, a global secure-electronic-payment technologies firm, will retain...
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Mar 23, 2011
The regulation has been on the books for significantly longer – it was enacted in 1977 to make it unlawful to make payments to foreign government officials in order to obtain business – but given increased international trade and commerce over the last 30 years and, more cynically, the profitability enforcement has garnered for the government, Deloitte’s new focus makes perfect s...
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Mar 17, 2011
If successful, this legislation will enhance the country’s overall battle against corruption. Speaking at the Russia and Commonwealth of Independent States third anti-corruption summit, Breuer recognized the department’s enforcement of the FCPA that led to a series of crackdowns and ...
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Mar 08, 2011
Rajat Gupta, a former Goldman Sachs director, reportedly has been accused of leaking information to Rajaratnam about Goldman, a Proctor & Gamble earnings report, and Berkshire Hathaway’s billion-dollar investment in Goldman. The SEC filed civil charges against him last week.
 
The Galleon case has led to a string of criminal charges against dozens of ...
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