The Securities and Exchange Commission Tuesday announced non-prosecution agreements (NPAs) with two unrelated companies for bribes foreign subsidiaries paid to Chinese officials.
Entries in Ralph Lauren Corporation (10)
PTC Part Two: SEC announces first deferred prosecution agreement with individual to resolve FCPA case
The SEC Tuesday said it used its first deferred prosecution agreement with an individual in an FCPA case.
Fashion Week 2015 begins on February 12 in New York. Compliance will certainly not be on the agenda and the fashion industry has never attracted the kind of regulatory attention “enjoyed” by industries that rely heavily on public sector sales. But that doesn't mean that the industry is free of corruption risks and immune from potential FCPA enforcement actions.
Parental controls: Anti-corruption compliance programs for joint ventures, subsidiaries and franchisees (Part 8)
Over the course of the prior posts in this series, we examined various approaches to what we call "parental controls," meaning compliance measures aimed at joint ventures and other affiliated entities that a company might employ. In this final post, we will review a few FCPA prosecutions to issue a note of caution.
The theme of this year's FCPA reporting, detection and enforcement activity is that the bribery of foreign officials is not something the public will tolerate or the U.S. government will trivialize.
It is also something businesses can and must create mechanisms to prevent.
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.
It was blockbuster quarter for FCPA enforcement, and April was one of the busiest months on record.
In a special SEC filing, Ralph Lauren Corporation described its resolution Monday of FCPA offenses with the DOJ and SEC by the first-ever use of dual non-prosecution agreements.
Ralph Lauren Corporation will pay $1.6 million in combined penalties to the DOJ and SEC in exchange for unprecedented dual non-prosecution agreements after admitting its Argentina subsidiary paid bribes to government and customs officials.