In October 2013, SEC Chairwoman Mary Jo White announced a broken windows enforcement policy to “pursue even the smallest infractions” of U.S. securities laws, including the FCPA, as a means of deterrence.
On August 18, the Bank of New York Mellon Corporation (BNY Mellon) agreed to pay $14.8 million to settle allegations that it had violated the U.S. Foreign Corrupt Practices Act (FCPA) by providing internships to family members of foreign officials affiliated with a Middle Eastern sovereign wealth fund the bank sought to manage.
Earlier this month, six former employees of Tencent Holdings (Tencent), including Liu Chunning, a now high-level executive of Alibaba Group, were detained by Chinese authorities as part of a bribery investigation relating to payments made by online video content providers to employees of Tencent, including Liu.
On June 16, the U.S. Justice Department (DOJ) announced that it had concluded a non-prosecution agreement (NPA) with IAP Worldwide Services, Inc., a Florida-based government contractor, related to apparent violations of the Foreign Corrupt Practices Act (FCPA).
The Troublesome Recent FCPA-Related Enforcement Action Involving the 2008 Beijing Olympics and Why It Matters
The dramatic pre-dawn arrest in Zurich of nine FIFA officials on bribery-related charges dominated the headlines last week.
On May 20, 2015, BHP Billiton, a global resources company and one of the world’s largest producers of coal, iron ore, copper, uranium, and nickel, settled Foreign Corrupt Practices Act (FCPA) charges brought by the charges U.S. Securities and Exchange Commission (SEC).