It’s a scenario that FCPA practitioners see all too regularly. A due diligence report regarding an intermediary reveals that it’s organized not in its home jurisdiction, but in Cyprus. Or Guernsey. Or Panama.
Entries in Eli Lilly (21)
Job Title: Counsel-Litigation and Legal Compliance
Employer: Eli Lilly
Location: Indianapolis, Indiana USA
During the first calendar quarter, there were two corporate FCPA enforcement actions -- both through SEC administrative orders -- and one individual resolution.
In a speech Tuesday at CBI's Annual Pharmaceutical Compliance Congress in Washington D.C., the head of the SEC's enforcement division, Andrew Ceresney, left, talked about the most common ways pharmas violate the FCPA.
Big pharma Eli Lilly said in an SEC filing Thursday that the DOJ has closed its FCPA investigation of the company.
French pharma Sanofi is investigating possible illegal payments in the Middle East and Africa from 2007 to 2012 following allegations from an anonymous whistleblower.
Big-pharma Merck said an SEC filing Thursday that the DOJ has closed its FCPA investigation of the company.
The U.S. Securities and Exchange Commission (SEC) published its fiscal year 2013 Agency Financial Report (AFR) to detail its financial and performance results for the President, Congress and public at large. Its purpose is portray its accomplishments and strategic goals for the next year, as well as its financial picture for budget planning. The report discusses its enforcement actions related to the FCPA in the past year, and the guidelines it provided businesses in complying with the law.
At the beginning of this year, China's president Xi Jinping promised to fight both "tigers" and "flies" -- high-ranking and low-ranking corrupt officials -- in his crackdown on corruption. Since then, the anti-graft campaign has led to the conviction of Bo Xilai and to the front-page investigations of foreign companies in the pharmaceutical and oil and gas sectors, among others.
Pharmas have told their sales teams to halt all activity in China to avoid being caught in the nationwide “enforcement storm,” according to the Guangdong-based Yangcheng Evening News.