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FCPA Blog Daily News

Entries in Walmart (155)

Friday
May022014

Walmart's half-billion-dollar FCPA spend

Walmart Inc. said it has spent $439 million in legal fees and other costs associated with investigations of alleged FCPA violations and revamping its global compliance protocol.

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Monday
Apr212014

Mike Scher has his eyes on Delaware

A pending case -- largely ignored by the compliance profession and the press -- brings before the courts one of the most troubling issues of the Wal-Mart investigation: Was the Wal-Mart Board of Directors misled during 2005-2012 regarding an alleged Mexican bribery scheme and subsequent cover-up? If so, was that due to intentional misconduct by some directors or senior executives reporting to the Board who either participated in or knew about the purported scheme?

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Monday
Mar312014

Mike Scher roots for Wal-Mart (and so should the rest of us)

The International Anti-Corruption Academy's Wittgenstein Villa reminds us to use our time and freedom well. I'm thinking about Siemens (which helps fund the IACA). And I am wondering if an historic reckoning for Wal-Mart could have positive consequences for all compliance officers and the global public.

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Thursday
Feb202014

Wal-Mart expects FCPA-related costs up to $240 million for current year

Wal-Mart Stores, Inc. said in an earnings release Thursday that it expects to spend between $200 million and $240 million on FCPA-related matters and compliance for fiscal 2015.

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Monday
Jan062014

In China, Wal-Mart recalls fox-tainted donkey meat

This story may help explain the Western perception that some Asians will eat . . . . anything.

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Friday
Jan032014

Job: Senior Project Manager International Compliance (Wal-Mart)

Job Title: Senior Project Manager International Compliance

Employer: Wal-Mart

Location: Bentonville, Arkansas, United States

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Monday
Dec162013

Wal-Mart's December 2013 FCPA disclosure

Here's what Wal-Mart Stores Inc. said in its quarterly report (Form 10-Q) filed with the SEC on December 6:

                    ______________

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Wednesday
Dec042013

Wal-Mart should lead in ethics, not just compliance

To balance the excitement over recent reports of the DOJ’s tough investigation and a new CEO at Wal-Mart, we could consider what compliance officers are taught by the SCCE: Lawful but awful does not mean everything is OK; it’s a wake up call and a test of the company’s identity.

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Wednesday
Nov062013

Mike Scher talks to the feds

To the Department of Justice and the Securities and Exchange Commission:

The open-letter draft published on October 23, 2013 generated extraordinary interest among compliance professionals and other readers in the United States and in Latin America, India and China -- countries directly affected by the Wal-Mart investigation. Many sent in their observations and support for the letter.

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Tuesday
Nov052013

The C-Suite: A Crucible for Misconduct

At the heart of the compliance profession lies the complex, entrenched problem of serious criminal misconduct by senior executives. That's why I have suggested that for some multinationals, the “problem of overseas corruption is not overseas. It’s in the corner office.”

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Thursday
Oct312013

In Wal-Mart case, feds can protect compliance officers. But will they?

The SEC’s new Chair, Mary Jo White, made headlines last week by letting compliance officers know how important their role is to their organizations and to the SEC.

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Thursday
Oct242013

Wal-Mart's latest FCPA disclosure (October 2013)

Here's the full FCPA disclosure from the Form 10Q/A filed by Wal-Mart Stores, Inc. with the SEC on October 21:

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