Tag Archive for ‘Siemens’
It’s nice to be on the right side of ethics, but sometimes we falter. We’re only human. So the question becomes: How do you rebuild your reputation after an ethical or even legal lapse in judgment?
The embattled media conglomerate News Corporation and its independent directors have not only hired top criminal defense lawyers, they’ve also hired former Justice Department prosecutors well-versed in U.S. bribery law. The new hires are a sign that the company is taking the Justice Department’s preliminary investigation rather seriously.
The development banks agreed that companies debarred for corruption by any one of them may be sanctioned for the same misconduct by other participating banks. Separately, an investor coalition representing firms with $1.7 trillion in assets under management has asked 21 major companies to improve disclosure of bribery and corruption risks and avoidance measures.
The legislation would require the Securities and Exchange Commission to award whistleblowers up to 30 percent of the fines collected by the government for providing “original information” regarding violations of securities laws. Based on some recent cases involving the U.S. Foreign Corrupt Practices Act, payouts could be in the tens of millions of dollars.
Efforts to combat transnational bribery and corruption could be enhanced by the creation of a top level U.S. government task force with a mandate to develop diplomatic and other incentives for adoption of laws similar to the U.S. Foreign Corrupt Practices Act (FCPA), especially in developing countries, according to a new report published by The Conference Board.
With its disclosure, Avon becomes the latest in a growing list of major Western companies dealing with alleged violations of the U.S. Foreign Corrupt Practices Act (FCPA). Avon is the world’s largest direct seller of beauty products, marketing in more than 100 countries through 5.4 million independent sales representatives.
The maker of Mercedes cars and trucks is the latest company dealing with fallout from violations of the U.S. Foreign Corrupt Practices Act. Transnational bribery and corruption are intensifying ethics and compliance concerns for companies doing business on a global basis as prosecutors pursue a record number of cases and penalties for offenses escalate dramatically.
“The U.S. government – and not just the Justice Department, but the U.S. government more broadly – is going to focus on international corruption in a more comprehensive and even more rigorous way than it has in the past,” said Mark Mendelsohn, the Justice Department’s lead criminal prosecutor for violations of the Foreign Corrupt Practices Act.
New agreements between the U.S., Europe Union and 56 European member states aim to make life more difficult for transnational criminals by making it easier for countries to extradite individuals charged with crimes and to jointly develop and share information.
U.S. Senator Dick Durbin this week sent letters to 30 information and communications technology companies – including Apple, Facebook, Skype and Twitter – seeking information about their human rights practices in China. Durbin also announced plans to hold a follow-up hearing on global internet freedom next month.