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TechnipFMC Joins FCPA Repeat Offender Club, Resolves Net $81.9 Million DOJ FCPA Enforcement Action, SEC Enforcement Action Forthcoming, Individual Criminally Charged

technipfmc

That’s a dense headline, but there was much at play in this DOJ announcement from earlier this week.

First, Technip joined the ever growing list of FCPA repeat offenders (see here) as the company previously resolved a $340 million FCPA enforcement action in 2010 concerning conduct at Bonny Island, Nigeria. (See here and here for prior posts). For good measure, as highlighted in this prior post, in 2016 FMC Technologies resolved a so-called non-FCPA, FCPA enforcement action.

Second, most FCPA enforcement actions against issuers that include a DOJ and SEC component are resolved on the same day, however this week’s development was DOJ only and this company press release states “TechnipFMC has reached an agreement in principle with the SEC Staff, subject to final SEC approval.”

Third, in connection with the same core conduct alleged in the DOJ enforcement action the DOJ also criminally charged Zwi Skornicki (a citizen of Brazil).

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Friday Roundup

Roundup

Across the pond, sentenced, unremarkable, and nonsense. It’s all here in the Friday roundup.

Across the Pond

As highlighted in this prior post, in July 2016 the U.K. Serious Fraud Office announced:

“The SFO is conducting a criminal investigation into the activities of Unaoil, its officers, its employees and its agents in connection with suspected offences of bribery, corruption and money laundering.”

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SBM Offshore Resolves $238 Million FCPA Enforcement Action

sbm

As highlighted in this prior post, in 2014 Netherlands-based SBM Offshore resolved a $240 million Dutch law enforcement action alleging improper payments to sales agents and foreign government officials in Equatorial Guinea, Angola and Brazil between 2007 through 2011. In connection with this action, the company disclosed: ““the United States Department of Justice has informed SBM Offshore that it is not prosecuting the Company and has closed its inquiry into the matter.”

Fast forward to earlier this month when, as highlighted in this prior post, the DOJ announced resolution of criminal charges against former SBM Offshore executive Anthony Mace and Robert Zubiate for their roles in a scheme to bribe foreign government officials in Brazil, Angola and Equatorial Guinea.

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Friday Roundup

Roundup

Quotable, SEC Annual Report, it’s called the rule of law – deal with it, across the pond, more ISO 37001 puff pieces, monitor related, for your viewing pleasure, and for the reading stack. It’s all here in the Friday roundup.

Quotable

To those still hyperventilating about Foreign Corrupt Practices Act enforcement in the Trump administration (see here and here), perhaps this might calm you down. As reported here by Wall Street Journal Risk & Compliance: “[FCPA Unit Chief Daniel Kahn dismissed the suggestion that President Donald Trump‘s previous criticism of the FCPA has had any effect on the department’s enforcement of the law. Mr. Kahn said he “spanned both administrations,” referring to Mr. Trump’s predecessor, President Barack Obama, adding, “I am continuing to do what I do.”

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Friday Roundup

Roundup

Interesting, more charges, sentenced, Telia-related, scrutiny alert, ISO-37001 related, across the pond, so true, odd, it can work, and for the reading stack. It’s all here in the Friday roundup.

Interesting

According to this Global Investigations Review report based on documents received through the FOIA process, the DOJ approved $711,800 to spend on Hui Chen’s former compliance consultant position over two years. According to the report, Chen’s salary at the DOJ was greater than the DOJ criminal division chief, the deputy attorney general and the attorney general.

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