Since today is a holiday for us Canadians, I thought I would keep this post short and sweet. Here’s a Monday morning roundup of stories, blog posts and other tools from the past week that I feel deserve some additional attention:
Author: Richard Cassin, The FCPA Blog
Why Does it Matter?: Last week there was a lot of news surrounding FCPA fines, settlements and investigations. Each quarter, The FCPA Blog compiles a list of people indicted, DOJ/SEC resolutions, guilty pleas, sentences and individuals extradited- all under the FCPA. This year has been one of the busiest, and most costly, years for businesses thanks to FCPA violation allegations. In this post, author Richard Cassin reports the costs and outcomes of FCPA cases for the third quarter of 2010, including cases from GE, Alliance One and the big one- ABB.
Author: The Society of Corporate Compliance and Ethics
Why Does it Matter?: Companies are always looking for ways to cut costs. Unfortunately, it’s usually important areas like ethics and compliance that take the hit. Cost is cited as one of the main reasons why many smaller companies don’t have an appropriate ethics and compliance program in place. With growing legislation (and fines) surrounding ethics and compliance, companies of all sizes can no longer afford to go without. This download from the SCCE offers small businesses some solutions for implementing effective programs on a tight budget. Just fill in a quick form and the document is yours for free.
Author: Michael Rothfeld, The Washington Post
Why Does it Matter?: There are lots of ways that companies can pay bribes to overseas officials. With FCPA allegations and fines on the rise, this article further proves that companies need to be aware of how business is being done overseas- because the consequences aren’t pretty. The pharmaceuticals/medical devices industry has been under fire for using questionable methods to win contracts and sell products overseas. In the US, some officials are trying to push to charge executives, as well as the company, for engaging in corrupt acts. In an industry that’s heavily regulated by the government, this articles shows that there’s no slowing down when it comes to cracking down on FCPA enforcement.