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Richard L. Cassin Publisher and Editor

Andy Spalding Senior Editor

Jessica Tillipman Senior Editor

Elizabeth K. Spahn Editor Emeritus

Cody Worthington Contributing Editor

Julie DiMauro Contributing Editor

Thomas Fox Contributing Editor

Marc Alain Bohn Contributing Editor

Bill Waite Contributing Editor

Shruti J. Shah Contributing Editor

Russell A. Stamets Contributing Editor

Richard Bistrong Contributing Editor 

Eric Carlson Contributing Editor

Bill Steinman Contributing Editor

Aarti Maharaj Contributing Editor


FCPA Blog Daily News

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Thursday
Nov162017

Walmart reserves $283 million for FCPA settlement

Wal-Mart Stores, Inc. said in an SEC filing Thursday that it has set aside $283 million for a possible FCPA resolution with the DOJ and SEC.

Walmart said ongoing settlement talks with the agencies have "progressed to a point where" it can "now reasonably estimate a probable loss," according to the SEC filing first posted Thursday by FCPA Tracker.

The company initially disclosed the FCPA investigation in December 2011. 

In 2012, the New York Times alleged that in Mexico Walmart paid $24 million in bribes to public officials. The bribes allegedly help Walmart win approvals to open more stores.

The FCPA investigation has involved allegations of potential FCPA violations in Mexico, Brazil, China, and India, among others, Walmart said earlier.

Walmart, based in Bentonville, Arkansas, has spent more than $700 million investigating potential FCPA offenses and enhancing its anti-bribery compliance program.

The company said Thursday it expects third party FCPA- and compliance-related expenses this year to range between $50 million and $60 million.

That amount doesn't include the $283 million accrual for the possible settlement.

Walmart said discussions with the DOJ and SEC are continuing. But it doesn't know if there will be a final resolution or when it might happen. 

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Richard L. Cassin is the publisher and editor of the FCPA Blog.