SEC Finds Violation for Failure to Require Code of Conduct Compliance 9:58, February 1, 2017

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Category: corruption

Failure to devise and enforce sufficient internal accounting controls to require compliance with a company’s business code of conduct violates the Securities Exchange Act (Act), according to a recent order issued by the  Securities and Exchange Commission (SEC). The SEC imposed a $2.4 million fine against United Airlines’ parent company (United) for violating the Act’s […]

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In our previous post in our Corruption in Latin America series we examined what corruption looks like. We looked at data from Foreign Corrupt Practices Act (FCPA) enforcement actions and international surveys reflecting perceptions of corruption. The data can be helpful when identifying possible risks and red flags, but there’s more to consider. Understanding the […]

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On December 6, 2016, the US Supreme Court issued a unanimous opinion upholding a Ninth Circuit Court of Appeals ruling that the conviction of a grocer for insider trading based on a tip by a member of his extended family was proper. As we wrote in the “Update” section of a recent post, the Court […]

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Between the Supreme Court’s recent decision not to grant certiorari to US v. Newman, and signals the Justices gave during oral arguments in Salman v. US, it is unclear whether anyone other than close relatives and friends will be liable for insider trading based on information obtained from a tip, and to what extent the […]

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On November 3, 2016, Assistant Attorney General Leslie R. Caldwell of the US Department of Justice’s (DOJ) Criminal Division delivered prepared remarks at The George Washington University Law School which treated the audience to a high-level federal prosecutor’s interpretation of the Foreign Corrupt Practices Act (FCPA). The prepared remarks were followed by a panel discussion […]

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Perceptions created by headlines from the Washington Post (“Kickbacks, dirty deals and more: The corruption scandals plaguing Latin America,”) and opinion pieces in the New York Times (“South America’s Culture of Graft”) as well as the Petrobras and Panama Papers scandals paint Latin America as a hotbed of corruption. But is this really true? Digging […]

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In a 2015 BNA Antitrust & Trade Regulation Report article called Human Resources: The Next Antitrust Frontier?, Susanna P. Torpey and Ryan D. Fahey discussed the “emerging area of antitrust exposure that is forcing practitioners and in-house counsel in the know to reevaluate new pockets of antitrust risk arising not from the sales force, but […]

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Whistleblower hotlines for reporting a company or organization’s misbehavior are common ways for employees to report unsafe conduct and violations of law and policy. Employees can usually report internally or externally. In addition to company hotlines, whistleblower hotlines are also operated by government agencies such as the Securities and Exchange Commission, Environmental Protection Agency, Occupational […]

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The Integrity Vice President (INT), an investigative unit of the World Bank, released a report on its efforts to end corruption with business partners and within the World Bank itself. Called the Annual Update for 2016, the report is a rare look into an organization’s compliance program and provides anti-bribery and anti-corruption takeaways. Major Types […]

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Knowing general antitrust law principles is indispensable to anyone who does business in the global market. However, when it comes to the particulars, different legal standards mean that an action that violates antitrust law in one jurisdiction may be legal in another. This can make antitrust law a complex and sometimes unpredictable realm to negotiate […]

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