Episode 54 — A Deep Dive into the SEC’s FCPA Settlement with Beam Suntory
In June 2018, the SEC announced an FCPA settlement with Beam Suntory for violations in India. Beam’s settlement totaled over $8 million. Beam’s conduct involved illegal payments made through third-party representatives to increase Beam’s sales, product placement and secure appropriate registrations and approvals needed to distribute liquor in India. Beam also did not receive any remediation credit for its failure to adequately respond to and investigate early indications of bribery conduct.
In this episode, Michael Volkov reviews Beam’s conduct and its compliance failures.