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Scrutiny Updates

scrutiny alert

This post provides updates on long-standing FCPA scrutiny of the following companies: Fresenius, Herbalife, and TechnipFMC as well as an update from across the pond in the United Kingdom concerning GlaxoSmithKline and  individuals associated with Rolls Royce.

Fresenius

German healthcare firm Fresenius Medical Care AG (a company with shares traded on the NYSE) has been under FCPA scrutiny since 2012 (no that is not a typo). The company recently disclosed:

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Checking In On The Firtash Motion To Dismiss

firtash

As highlighted in this prior post, in April 2014 the DOJ announced the unsealing of a criminal indictment charging six individuals “with participating in an alleged international racketeering conspiracy involving bribes of state and central government officials in India to allow the mining of titanium minerals.” Among the defendants was high-profile Ukrainian businessman Dmitry Firtash.

Prior posts here and here have focused on extradition issues related to Firtash and this prior post highlighted Firtash’s May 2017 motion to dismiss.

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FCPA Flash Podcast – A Conversation With James Noe Regarding FCPA Issues In The Oil And Gas Industry

Podcast Logo

The FCPA Flash podcast provides in an audio format the same fresh, candid, and informed commentary about the Foreign Corrupt Practices Act and related topics as readers have come to expect from written posts on FCPA Professor.

This FCPA Flash episode is a conversation with James Noe (special counsel with Jones Walker LLP who previously served in various in-house counsel and executive roles with several oil and gas companies). During the podcast, Noe discusses: the easiest and most difficult aspects of FCPA compliance in the oil and gas industry; the extent of facilitating payments in the industry; whether oil and gas companies are too risk averse when it comes to FCPA issues; and civil actions by industry participants when business is lost because of a refusal to make bribe payments.

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Checking In On Wal-Mart’s Pre-Enforcement Action Professional Fees And Compliance Enhancements Expenses

Wal-Mart

In today’s 4Q earnings call presentation, Wal-Mart disclosed $6 million in Foreign Corrupt Practices Act and compliance related expenses ($3 million for ongoing investigations and inquiries and $3 million for global compliance program and organizational enhancements).

Doing the math, Wal-Mart’s 3Q FY2019 FCPA and compliance-related costs are approximately $97,000 per working day.

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