An investment firm was fined $2.9 billion by several authorities for its failure to (i) properly oversee its operations, (i) maintain internal controls and (iii) conduct proper risk management, with regard to its employees' involvement in improper payments to foreign officials.
The DOJ and the SEC announced one of the largest global Foreign Corrupt Practices Act settlements in history. Under the settlement, a Dutch telecommunications will pay $795 million to resolve allegations that it paid $114 million in bribes to an Uzbek government official to obtain and retain business in the country.
Commentary by Bret Campbell
Request delivery of the Cadwalader Cabinet Newsletter.