2015 continued the trend of FCPA enforcement actions brought by the SEC with no parallel DOJ enforcement action. As you might expect, these SEC enforcement actions turned on violations of the FCPA accounting provision, either the books and records or the internal controls provisions.
Entries in Hitachi (5)
The African Development Bank Group said Wednesday it reached a settlement with Hitachi Ltd. that includes a one-year debarment for sanctionable practices by Hitachi subsidiaries on an AfDB-financed power project in South Africa.
During the third calendar quarter, there were five corporate FCPA enforcement actions and one individual resolution.
The Securities and Exchange Commission Monday charged Tokyo-based conglomerate Hitachi, Ltd. with violating the Foreign Corrupt Practices Act when it inaccurately recorded improper payments to South Africa’s ruling political party in connection with contracts to build two multi-billion dollar power plants.
Companies increasingly understand the importance of strong vendor-compliance programs, but costly enforcement actions stemming from supply-chain mismanagement remain.
Two experts have a few training, monitoring and evaluating tips to share with us.