ABB Archives - FCPA Professor

It Doesn’t Fit

By Mike Koehler on December 15, 2022 in ABB, DOJ, Enforcement Agency Policy

Remember that game you may have played as a child in which you tried to assert different shape objects into a box and perhaps were left perplexed how the square would fit through the circle. Short answer: the square didn’t fit through the circle.

Likewise, the DOJ’s recent ABB Foreign Corrupt Practices Act enforcement action (the third time ABB has resolved an FCPA enforcement action) does not fit with the DOJ’s September 2022 policy document titled “Further Revisions to Corporate Criminal Enforcement Policies Following Discussions with Corporate Crime Advisory Group.” (See here for the prior post).

Issues To Consider From The ABB Enforcement Action

By Mike Koehler on December 14, 2022 in ABB, DOJ “Piling On” Policy, Gray Cloud, Root Causes, Voluntary Disclosure

This recent post highlighted the net $147.5 million Foreign Corrupt Practices Act enforcement action against ABB concerning conduct in South Africa. In resolving the matter, ABB became the first company to resolve three separate FCPA enforcement actions. (See here).

This post highlights additional issues to consider from the enforcement action.

Timeline

As highlighted in this prior post, in early 2017 it was reported that “ABB said it was cooperating with anti-fraud authorities in the United States and Britain and had reported past dealings with Monaco-based engineering and construction group Unaoil, including alleged improper payments to third parties.” This probe was seemingly dropped in mid-2020 (see here).

DOJ Principal Associate Deputy AG Miller On …

By Mike Koehler on December 8, 2022 in ABB, Compensation Clawbacks, Enforcement Agency Policy, Enforcement Agency Speeches, Executive Compensation, Voluntary Disclosure

Recently, Principal Associate Deputy Attorney General Marshall Miller gave this speech in which he talked about the DOJ’s “recent and ongoing changes to the … policies regarding corporate criminal enforcement …”.

In pertinent part, Miller discussed voluntary disclosure (a topic the DOJ has discussed for nearly 15+ years) as well as compensation clawbacks.

ABB Becomes The First Company To Resolve THREE FCPA Enforcement Actions

By Mike Koehler on December 6, 2022 in 2022 Enforcement Action, ABB, DOJ Enforcement Action, Foreign Issuers, Repeat Offenders, Root Causes, SEC Enforcement Action, South Africa, Third Parties, Uncategorized

The first time ABB resolved a Foreign Corrupt Practices Act enforcement action was in 2004 concerning conduct in Nigeria, Angola and Kazakhstan.

The second time ABB resolved an FCPA enforcement action was in 2010 concerning conduct in Mexico as well as in connection with the Iraqi U.N. Oil for Food program.

Since 2017 (see here for the prior post), ABB has been under additional FCPA scrutiny and last Friday ABB became the first company to resolve an FCPA enforcement action for a third time. The latest enforcement action concerned conduct in South Africa and the net FCPA settlement amount was $147.5 million (a DOJ component of net $72.5 million and an SEC component of net $75 million).

Scrutiny Alerts And Updates

By Mike Koehler on May 26, 2020 in ABB, David Rivera

This post highlights scrutiny alerts and updates regarding ABB Ltd. and former Florida congressman David Rivera.

ABB

As highlighted in this prior post, in early 2017 it was reported that ABB (a Swiss-based power and automation technology company) was cooperating with law enforcement authorities in the U.S. and the U.K. following a voluntary disclosure regarding its past dealings with Unaoil.

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It Doesn’t Fit

Issues To Consider From The ABB Enforcement Action

DOJ Principal Associate Deputy AG Miller On …

ABB Becomes The First Company To Resolve THREE FCPA Enforcement Actions

Scrutiny Alerts And Updates

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