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Elizabeth K. Spahn Editor Emeritus

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FCPA Blog Daily News

Entries in Siemens AG (36)

Thursday
Jun152017

Chaim Gelfand: Israeli government officials jailed for taking bribes from Siemens

Yesterday I participated as a panelist at a roundtable on the "Increase in the Enforcement of the Foreign Bribery Statue in Israel," part of the Globes Newspaper's Capital Markets Conference.

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Tuesday
Jun062017

Supreme Court limits SEC disgorgement power

The U.S. Supreme Court Monday ruled 9-0 to limit the Securities and Exchange Commission's legal authority to recover ill-gotten profits from defendants.

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Friday
Sep232016

FCC fines Siemens for failing to disclose FCPA and obstruction convictions

The Federal Communications Commission fined Siemens Corporation and Siemens Medical Solutions $175,000 Thursday for failing to disclose corporate felony convictions as required by the FCC's rules.

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Tuesday
Jul122016

Upcoming Event: Anti-Corruption Collective Action Conference (Basel, Switzerland -- October 20-21)

The International Centre for Collective Action (ICCA) at the Basel Institute on Governance is hosting a conference entitled “Collective Action: Evidence, Experience and Impact on October 20 - 21, 2016 in Basel, Switzerland.

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Tuesday
May032016

Report: Siemens pays $42 million to settle Israel bribe case

Siemens AG agreed to pay the Israeli government about $42 million as a penalty for bribing officials at state-owned Israel Electric Corporation to win a contract to supply turbines fifteen years ago.

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Tuesday
Jan052016

Our Top Ten List didn't change in 2015 (but here's when it did change)

The biggest FCPA settlement in 2015 was BHP Billiton. It paid $25 million to the SEC to settle Olympics-related FCPA offenses. The case fell far short of the Top Ten List, missing a tenth place finish by a whopping $160 million.

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Wednesday
Nov182015

SEC: More FCPA whistleblower tips in FY2015, but fewer tips overall from abroad

Eric Young of McEldrew YoungThe SEC received 16 percent more tips from whistleblowers concerning suspected violations of the Foreign Corrupt Practices Act in fiscal year 2015 than it did the previous year, according to the annual report released by the SEC Office of the Whistleblower. 

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Wednesday
Sep302015

Former CFO of Siemens Argentina pleads guilty to FCPA offenses

The former chief financial officer of Siemens S.A. – Argentina pleaded guilty Wednesday in federal court in New York City to conspiring to pay tens of millions of dollars in bribes to Argentina government officials in connection with a $1 billion contract to create national identity cards.

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Monday
Sep282015

VW aftermath: Message about Compliance 2.0 is finally a no-brainer

The chief of Volkswagen USA admitted the company screwed up, and the global CEO has resigned. Prosecutors and regulators, along with aggrieved buyers of its diesel vehicles, are lining up for retribution and justice.

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Friday
Aug212015

Petrobras says ‘exclusive report’ of $1.6 billion FCPA settlement is false

Brazil’s Petrobras said Wednesday it isn't negotiating a settlement with U.S. authorities tied to alleged corruption following a report that claimed the state-owned company was in talks to pay a record FCPA fine.

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Tuesday
Aug042015

Notes from IACA, Part Two: What would you do in your country with $10 million?

I wrote in the prior post about the great things the International Anti-Corruption Academy is doing, thanks in large part to the Siemens Integrity Fund. It’s a beautiful example of using anti-corruption settlement money to truly address worldwide corruption.

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Monday
Aug032015

Notes from IACA, Part One: Siemens, a model worth replicating

Image courtesy of SiemensI recently had the pleasure of teaching in the International Anti-Corruption Academy’s Masters Program. It’s a teacher’s dream: 30 students from all around the world, with a keen interest in corruption prevention, and several years of practical experience. 

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