American Trade & Manufacturing Blog

Tag Archives: compliance

Last Weeks of the Year See a Flurry of FCPA Enforcement

Posted in Compliance, FCPA
The last two weeks of 2016 have seen a flurry of Foreign Corrupt Practices Act (FCPA) enforcement actions: a $519 million settlement against Israel’s Teva Pharmaceutical, an action in the billions against Brazilian construction conglomerate Odebrecht and its petrochemical unit, Braskem, and a $75 million settlement by Kentucky-based General Cable Corporation. Teva’s December 22 settlement… Continue Reading

Och-Ziff Capital Enters into Fourth-Largest FCPA Settlement in History

Posted in FCPA
On September 29, 2016, the Securities and Exchange Commission announced that Och-Ziff Capital Management Group will pay nearly $200 million to settle civil Foreign Corrupt Practices Act (FCPA) charges.  Combined with the expected criminal penalty of $213 million from the U.S. Department of Justice (DOJ), Och-Ziff’s $413 million settlement will land it fourth on the… Continue Reading

LATAM Airlines Pays $22 Million to Settle FCPA Allegations

Posted in FCPA
On Monday, Chile-based airline LAN Airlines SA (now operating at LATAM Airlines Group) entered into a $22 million agreement with the U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ), to settle allegations that it violated the Foreign Corrupt Practices Act (FCPA).  The alleged violations involved the facilitation of bribes to Argentinian… Continue Reading

Wiley Rein Releases In a Nutshell: What You Need to Know About the FCPA in 2015

Posted in FCPA
On February 29, Wiley Rein published its annual Foreign Corrupt Practices Act (FCPA) Year-in-Review article: In a Nutshell: What You Need to Know About the FCPA in 2015.  The article provides statistics on enforcement actions and penalties, an analysis of investigative trends and more, chronicling another busy year in FCPA enforcement.  Some of the points… Continue Reading

PTC Pays $28 Million in 2016’s Second Software-Focused FCPA Enforcement Action

Posted in Compliance, FCPA
On February 16, Massachusetts-based software company PTC Inc. paid $28 million to settle Foreign Corrupt Practices Act (FCPA) enforcement actions with both the Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC). PTC’s two China units – based in Shanghai and Hong Kong – were alleged to have paid for employees of various… Continue Reading

CBP Warns Importers: Don’t Fall For AD/CVD Scams!

Posted in Compliance, Customs Law, Dumping and Subsidies, Manufacturing, Trade Remedies
When importers’ fail to properly declare duties on products subject to trade orders, it harms the U.S. economy.  Failing to properly declare duties costs the U.S. Treasury millions of dollars each year, reducing U.S. manufacturing employment, and undermining U.S. industries’ ability to recover from the injurious effects of unfairly traded imports. As such, enforcement of… Continue Reading

Foreign Exchange Trading: The Need For Internal Controls

Posted in Anti-Money Laundering, Economic Sanctions
On November 12, 2013, the Commodity Futures Trading Commission (CFTC) announced that it had imposed fines totaling $1.4 billion on five major international banks in connection with the alleged manipulation of foreign exchange benchmark rates. In each case, the CFTC asserted that individual traders within the banks had colluded to move benchmark foreign exchange rates,… Continue Reading