Tagged: SEC FCPA enforcement

Episode 84 — A Review of MTS Telesystems FCPA Enforcement Action

In another blockbuster FCPA prosecution, the Justice Department and the SEC announced an $850 million settlement with Mobile Telesystems (“MTS”), Russia’s largest mobile carrier. At the same time, the Justice Department announced criminal indictments against an MTS executive and the notorious corrupt Uzbek official, Gulnara Karimova, on criminal charges. In this episode, Michael Volkov discusses the MTS Telesystems FCPA enforcement action.

Fresenius Medical’s Bribery Conduct Precludes Declination (Part II of III)

Fresenius Medical came close to earning a declination under the FCPA Corporate Enforcement Policy.  Unfortunately, Fresenius’ effort fell short — but it came close.  Fresenius Medical operates more than 3700 dialysis clinics worldwide and has 37 production sites in various countries. Fresenius’ relationship with third-party agents and distributors created significant risks.  These relationships, in a number of high-risk countries, were used to funnel bribery payments. ...

Fresenius Pays $231 Million to Resolve Long-Standing FCPA Enforcement Action (Part I of III)

Fresenius Medical, the largest supplier of dialysis equipment and services agreed to pay $231 million to the Justice Department and the SEC to resolve FCPA violations in 17 countries in Africa, the Middle East and Europe. Fresenius entered a non-prosecution agreement (here) with the Justice Department, in which it agreed to pay an $87 million payment and a two-year corporate monitor.  Fresenius agreed to enhance...

2018 FCPA Year in Review: The More Things Change, The More They Stay the Same

Happy New Year! Another year is in the books for FCPA enforcement and compliance.  The headline for this past year (like many other years) is/was – The more things change, the more they stay the same. FCPA enforcement is bipartisan and immune from political winds.  I may live to regret this assertion.  Whether DOJ is under Republican or Democrat control, FCPA enforcement will continue.  DOJ’s...

Episode 64: Stryker’s SEC FCPA Settlement

Stryker Corporation has suffered a second FCPA enforcement action, and will now bear the stigma of FCPA “recidivist.”  In reaching a settlement with the SEC and agreeing to pay a $7.8 million civil penalty, Stryker will now be subject to an SEC-imposed compliance monitor. In this episode, Michael Volkov reviews the facts surrounding the Stryker SEC settlement.

First FCPA Action of 2018: Elbit Imaging

No one needs to be reminded about the importance of anti-corruption compliance.  For global companies, anti-corruption risks are amongst the top 3 risks identified by corporate leaders. Global companies face a growing network of international anti-corruption law enforcement agents and prosecutors who are coordinating and sharing intelligence.  The globalization of anti-corruption enforcement has increased significantly the risk of detection and prosecution.  While the Justice Department...