A Focus On Thailand
This post highlights FCPA enforcement actions concerning conduct (in whole or in part) in Thailand.
Since 2004, there have been fourteen FCPA enforcement actions concerning conduct (in whole or in part) in Thailand.
The enforcement action concerned conduct in Thailand based on the conduct of a subsidiary in Thailand and largely focused on Thai officials visiting massage parlors and participating in non-business travel funded by the subsidiary.
Deere & Co. Resolves $9.9 Million FCPA Enforcement Action
As highlighted in this recent post, approximately 20% of Foreign Corrupt Practices Act enforcement activity takes place in the month of September as the SEC’s fiscal year comes to a close.
In September’s first FCPA enforcement (there have been several non-FCPA, FCPA enforcement actions already – see here), Deere & Co. has agreed to pay approximately $9.9 million to resolve an SEC matter based on the conduct of a subsidiary in Thailand. The enforcement action largely concerns Thai officials visiting massage parlors and participating in non-business travel funded by the subsidiary.
A Focus On Thailand
This recent post focused on the numerous Foreign Corrupt Practices Act enforcement actions concerning conduct (in whole or in part) in Vietnam.
This post turns the compass a bit west to focus on FCPA enforcement actions concerning conduct (in whole or in part) in Thailand.
As highlighted below, since 2004 there have been thirteen FCPA enforcement actions concerning conduct (in whole or in part) in Thailand.
Microsoft Resolves Long-Standing FCPA Scrutiny By Agreeing To Pay $25.3 Million
Microsoft has been under Foreign Corrupt Practices Act scrutiny since early 2013 (see here for the prior post). Yesterday, the DOJ and SEC announced here and here an aggregate $25.3 million enforcement action against the company and a Hungarian subsidiary concerning conduct in Hungary, Saudi Arabia, Thailand and Turkey.
The enforcement action involved a DOJ component involving a non-prosecution agreement involving MS Hungary in which the entity agreed to pay a $8.8 million criminal penalty and an SEC administrative order against Microsoft finding violations of the FCPA’s books and records and internal controls provisions in which the company agreed, without admitting or denying the SEC’s findings, to pay disgorgement and prejudgment interest of approximately $16.5 million.
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.