Issues To Consider From The Quad/Graphics Enforcement Action
This previous post highlighted the SEC’s recent $10 million Foreign Corrupt Practices Act enforcement action against Quad/Graphics and this post continues the analysis by highlighting additional issues to consider.
Timeline
As highlighted in this prior post, Quad voluntarily disclosed in April 2016. Thus, from start to finish, the company’s FCPA scrutiny lasted approximately 3.5 years. While this is slightly below the average length of time FCPA scrutiny tends to last in the current era (see here), 3.5 years is still too long for a company that voluntarily disclosed and cooperates to be under FCPA scrutiny.
Hot Off The Press – Printing Company Quad/Graphics Resolves $10 Million FCPA Enforcement Action
This post earlier this week told you that there would likely be more Foreign Corrupt Practices Act enforcement this week as the SEC’s fiscal year draws to a close.
Sure enough as late yesterday the SEC announced an approximate $10 million enforcement action against Wisconsin-based printing company Quad/Graphics for “engaging in multiple bribery schemes in Peru and China.”
Friday Roundup
A plethora of scrutiny alerts and updates and for the reading stack. It’s all here in the Friday Roundup.
Scrutiny Alerts and Updates
Unaoil Related
The disclosures keep coming from companies mentioned in the recent Unaoil media reports (see here for the prior post).
FMC Technologies, an oil and gas services company, recently disclosed:
“On March 28, 2016 we received an inquiry from the United States Department of Justice (“DOJ”) related to the DOJ’s investigation of whether certain services Unaoil S.A.M. provided to its clients, including FMC Technologies, violated the Foreign Corrupt Practices Act. We are cooperating with the DOJ’s inquiry and are conducting our own internal investigation.”
KBR, a company which resolved an FCPA enforcement action in 2009 concerning conduct in Nigeria , recently disclosed: