Nearly Four Years Later, Edwards Lifesciences Remains Under FCPA Scrutiny
As highlighted in this prior post, in mid-2021, Edwards Lifesciences (a California based corporation which describes itself as “the global leader in patient-focused medical innovations for structural heart disease, as well as critical care and surgical monitoring”) disclosed FCPA scrutiny.
Specifically, the company disclosed that it was “investigating whether the allocation of certain grants and other payments initiated by certain employees of the Company in Japan violate certain provisions of the Foreign Corrupt Practices Act (“FCPA”). The Company has voluntarily notified the SEC and the U.S. Department of Justice (“DOJ”) that it has engaged outside counsel to conduct this investigation.”
Scrutiny Updates
Honeywell
As highlighted in this prior post, in mid-2019 Honeywell disclosed that it was cooperating with DOJ/SEC and Brazilian law enforcement investigations relating to its use of third parties in relation to Petrobras business as well as a matter involving a foreign subsidiary’s prior engagement of Unaoil in Algeria.
In its most recent quarterly filing disclosed:
Edwards Lifesciences Discloses A Potential FCPA Issue, But Why?
Edwards Lifesciences, a California based corporation which describes itself as “the global leader in patient-focused medical innovations for structural heart disease, as well as critical care and surgical monitoring” is under Foreign Corrupt Practices Act scrutiny.
In a recent filing, the company disclosed:
“The Company is investigating whether the allocation of certain grants and other payments initiated by certain employees of the Company in Japan violate certain provisions of the Foreign Corrupt Practices Act (“FCPA”). The Company has voluntarily notified the SEC and the U.S. Department of Justice (“DOJ”) that it has engaged outside counsel to conduct this investigation. Any determination that the Company’s operations or activities are not in compliance with existing laws, including the FCPA, could result in the imposition of fines, penalties, and equitable remedies. The Company cannot currently predict the outcome of the investigation or the potential impact on its financial statements.”