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Daily Business Review

Colombians Charged With Profiting From Housing Fraud in Venezuela

The two also face sanctions in an alleged bribery scheme involving embattled Venezuela president Nicolas Maduro's three stepsons.
2 minute read

Corporate Counsel

Microsoft to Pay $25M to Settle FCPA Claims Over Alleged Bribery in Hungary

“We recognize that no business process can offer a perfect guarantee of eliminating all global instances of a human frailty that is as old as humanity itself," Microsoft Corp. president Brad Smith told employees in an email.
4 minute read

Law.com

How Robbins Geller Beat the Feds in Walmart Settlement

For those who might question the value of a private right of action in securities litigation, this case is a good example of its efficacy.
5 minute read

Corporate Counsel

Walmart Agrees to Pay $282M and Hire Louis Freeh as Monitor in FCPA Settlement

In the criminal part of the settlement, the company signed a nonprosecution agreement with the DOJ in which it agreed to pay a $138 million penalty to settle violations of the Foreign Corrupt Practices Act. The SEC announced that the company also agreed to pay another $144 million to settle related claims.
4 minute read

Corporate Counsel

Wedbush Reaches $8.1M Settlement With SEC Over American Depositary Receipts Mishap

The SEC has hit another financial institution with a multimillion-dollar penalty over alleged abusive ADR prerelease practices.
3 minute read

New York Law Journal

Whistleblowers and the FCPA Under the Trump Administration

Contrary to the expectations of many who thought that enforcement of the Foreign Corrupt Practices Act would dissipate with the arrival of the Trump administration, it is very much alive. And perhaps even more unexpectedly, whistleblowers are not just welcome, but are generously rewarded for valuable information that lead to a Security and Exchange Commission enforcement action and monetary recovery.
11 minute read

Daily Business Review

Citgo Gets US Subpoena Related to Venezuela Bribery Probe

The Venezuelan-owned U.S. refiner has pledged full cooperation with the probe, without identifying the reason for the subpoena, it said in an emailed statement.
3 minute read

Corporate Counsel

Former JPMorgan Exec Hit With Bribery Charges in Hong Kong

Catherine Leung Kar-cheung, ex-vice chairwoman of JPMorgan Securities' Asia-Pacific investment banking business, faces two counts of offering an advantage to an agent. Her legal woes stem from an alleged bribery scheme involving the chairman of an unnamed logistics company and his son.
3 minute read

The Recorder

Hogan Lovells Adds Ex-Federal Prosecutor, SEC Enforcer in LA

Ann Kim spent more than a decade at the Securities and Exchange Commission and the U.S. Attorney's Office for the Central District of California.
2 minute read

Corporate Counsel

Microsoft Acknowledges Ongoing FCPA Issues in Quarterly Report

Microsoft's 10-Q filing with the SEC offers no further details on the probes in question, though at least a portion of the inquiries are likely related to activities in Hungary that date back to 2013.
3 minute read

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