The FCPA Need Not Be The Grinch That Steals The Holiday Spirit
The flow of Foreign Corrupt Practices Act and related information is often predictable at certain times of year.
This time of year, FCPA Inc. and others look for fresh angles regarding FCPA topics.
So as the holidays approach, it was not surprising to find articles discussing the FCPA risks of holiday gift giving. (See here and here for instance).
Yes, certain FCPA enforcement actions have involved gift giving, including in connection with holidays and festivals – such as Chinese New Year and India’s Diwali Festival.
The DOJ’s First FCPA DPA Involved Monsanto
[This post is part of a periodic series regarding “old” FCPA enforcement actions]
In early January 2005, the DOJ used a deferred prosecution agreement for the first time to resolve a Foreign Corrupt Practices Act enforcement action. The “guinea pig” was Monsanto.
This post highlights the DOJ and parallel SEC enforcement action against the company (aggregate settlement amount of $1.5 million) based on conduct in Indonesia.
Cardinal Health Resolves $8.8 Million Enforcement Action Based On A Former Entity Maintaining And Operating Marketing Accounts For Certain Customers In China
Last Friday the SEC announced that Cardinal Health Inc. agreed to pay $8.8 million to resolve a Foreign Corrupt Practices Act enforcement action.
The action is based on a Cardinal entity (acquired in 2010 and sold in 2018) maintaining and operating marketing accounts for certain customers in China.
In summary fashion, the SEC order states:
Friday Roundup
Transparency, hilarious, fact-checking, little sense, just saying, and for the reading and listening stack. It’s all here in the Friday roundup.
Transparency
The Project on Government Oversight (POGO) recently this document titled “Baker’s Dozen: 13 Policy Areas That Require Congressional Action” noting that a “lack of transparency around enforcement of the FCPA leaves lingering questions about its utility.” POGO then proposes:
United Technologies Corp. Resolves $13.9 Million Enforcement Action
Yesterday, the SEC announced that United Technologies Corporation resolved a $13.9 million Foreign Corrupt Practices Act enforcement action.
The conduct at issue concerned Otis Elevator Co. (a wholly-owned subsidiary of UTC), Pratt & Whitney (an operating division of UTC), and International Aero Engines (a joint venture of five aerospace companies including Pratt & Whitney) regarding a Russian and Azerbaijani improper payment scheme, a China aviation scheme, improper payments for Otis Elevator sales in China, and leisure travel for foreign officials from several countries including China, Kuwait, South Korea, Pakistan, Thailand, and Indonesia.