Two former executives at Hungarian-based telecommunications company Magyar Telekom agreed to pay financial penalties in order to settle an SEC case alleging violations of the Foreign Corrupt Practices Act.
Global medical device manufacturer Zimmer Biomet Holdings, Inc. settled criminal and civil charges brought by the DOJ and SEC after the company was found to have violated a 2012 agreement settling previous Foreign Corrupt Practices Act allegations.
The U.S. DOJ and the SEC announced criminal and civil Foreign Corrupt Practices Act-related settlements with a Kentucky-based manufacturer and distributor of copper, aluminum, and fiber-optic cable and wire.
At the 33rd ACI International Conference on the Foreign Corrupt Practices Act, leading prosecutors and regulators from the U.S. and the UK emphasized the importance of international cooperation, self-disclosure, and a heightened focus on individual responsibility.
The SEC announced that a wireless technologies company agreed to pay a $7.5 million civil penalty to settle charges that it violated the Foreign Corrupt Practices Act. This settlement marks the first instance in which a non-bank was charged with hiring practice-related FCPA violations.
A technology company and its Chinese subsidiaries settled parallel civil and criminal actions with the SEC and the U.S. Department of Justice. The actions involved violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act.
Commentary by Emily J. Rockwood
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