Pharmaceuticals companies continue to fall foul of the FCPA and other anti-bribery laws, with a number of 2016 cases suggesting a vulnerability around marketing practices especially in the Asia-Pacific region. Why does a sector that is way ahead of the compliance game in so many ways keep getting caught out by anti-bribery laws?
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Companies that make and sell consumer products -- toothpaste, smart phones, cars, movies, food, medicines, golf clubs, cosmetics, whiskey, shoes, jewelry, and so on -- spend billions of dollars promoting their goods.
We've talked about South Korea's foreign bribery laws and we looked at specific compliance risks related to gift giving, rebates, and kickbacks. In this post we'll look at enforcement actions in South Korea and what specific steps can reduce compliance risks there.
California-based SciClone Pharmaceuticals will pay $12.8 million to settle SEC charges that it violated the Foreign Corrupt Practices Act when employees in China pumped up sales for five years by making improper payments to professionals employed at state health institutions.
Two former employees of the Edinburgh City Council and two directors of a construction company received significant jail sentences for bribery contrary to The Public Bodies Corrupt Practices Act 1889 (the legislation that pre-dates the Bribery Act 2010).
The Securities and Exchange Commission Wednesday charged global resources company BHP Billiton with violating the Foreign Corrupt Practices Act when it sponsored foreign government officials as guests at the 2008 Summer Olympics in Beijing.
It was an odd event a few weeks ago when the U.K.'s Serious Fraud Office removed some Bribery Act guidance from its website without explanation.