The comments underlined the increasingly risky environment for corporations that don’t disclose.
Jeff Knox spoke Tuesday at a panel discussion on third-party due diligence.
The FBI pushes back, without success, against a blog that insists the Bureau’s Foreign Corrupt Practices Act squad targeting corporate bribery has disbanded.
In all, 30 corporate Foreign Corrupt Practices Act resolutions since 2004 have resulted in the imposition of an outside consultant to monitor the company’s progress with legal compliance.
Documents already made public by the New York Times and lawmakers in Congress can still be used in the investor suit, a Delaware judge said.
The relationship with Bharti Enterprises soured in part because of Wal-Mart’s internal anti-corruption probe and also because of restrictions on foreign investment in India, according to news reports.
With sales growth slowing, Wal-Mart discloses rising legal costs that continue to quicken in pace over last year.
U.S. authorities are increasingly reviewing foreign bribery allegations that companies’ management thought had been laid to rest by an internal investigation.
Wal-Mart Stores Inc. officials must turn over more internal files on what directors knew about claims that executives handed out bribes to facilitate Mexican real-estate deals, a judge ruled.
Wal-Mart Stores Inc. can’t block investors from using publicly disclosed internal files in lawsuits that claim directors failed to properly oversee executives accused of bribing Mexican officials, a judge said.
Spending on the internal bribery probe and related compliance issues was much higher in the first three months of 2013 than earlier anticipated.
With federal investigations underway, Wal-Mart attempts to showcase company reforms by tying compliance to executive pay.
The prize was one of four awarded to The New York Times, three of which were for articles that touched on corruption and corporate compliance.
At a compliance conference in Washington, the former Attorney General called for greater “transparency” in foreign bribery enforcement.
The retail giant said that “given the inherent uncertainties in such situations, we can provide no assurance that these matters will not be material to our business in the future.”
The Justice Department’s Foreign Corrupt Practices Act unit chief spoke via telephone at the American Bar Association’s white collar crime conference in Las Vegas.
Kimco Realty Corp. received an SEC subpoena last month.
The company expects to spend as much as $45 million in its first quarter.
The battle for FCPA reform is not dead, it is merely resting.
(Subscription Access Only) Wal-Mart says a putative class action alleging securities fraud by concealing bribery in Mexico has no basis in fact.
The New York think tank, best known as a clearinghouse for policy ideas in the administration of former New York Mayor Rudolph W. Giuliani, wades into the debate on proposed FCPA amendments.
Email chains appear to dispute company claims that Michael T. Duke, CEO of Wal-Stores Inc., was not aware of corruption allegations at a controversial store in 2005.
Investigative reporter David Barstow discusses the thinking behind Wal-Mart’s failure to self-report corruption in Mexico.
The New York Times strikes another blow, alleging in lurid detail how Wal-Mart’s Mexican subsidiary paid bribes to open 19 different locations.
The human rights organization, which has worked to expose the extent of international crimes and weapons proliferation in the Democratic Republic of Congo, says the new rule is key to its own ethical investment strategies.
Wal-Mart Stores Inc. sees a jump in legal costs and acknowledges it is investigating possible foreign bribery in at least three new countries.
The scope is of the remediation efforts is staggering: 300 lawyers and accountants have spent 79,000 hours reviewing Wal-Mart’s compliance programs in 27 countries.
The company announced Schlumberger Ltd.’s Daniel Trujillo’s hiring in an internal memo today.
Five months after Wal-Mart’s dirty laundry was aired in The New York Times, there is little evidence that U.S. authorities have begun a formal anti-corruption sweep of the big box retail industry. But retailers are reacting.
Advocates of Foreign Corrupt Practices Act reform returned to Capitol Hill on Friday to press their case, signalling that business interests haven’t given up on persuading Congress eventually to amend the statute despite recent adverse publicity over such foreign bribery cases as Wal-Mart Stores Inc.