The pharmaceutical company is also under investigation by Chinese authorities over alleged corruption.
By Charles E. Duross, Timothy W. Blakely, James E. Hough, and Daniel P. Levison
Recent anti-corruption enforcement developments in Asia should serve as a call to action for international and domestic companies operating in the region. In light of these developments — which include increased enforcement (and pressure to enforce) anti-corruption laws and an increasing amount [...]
Ralls is appealing the dismissal of its presidential power and CFIUS challenge. The government has brought a lawsuit to force the divestiture of the company’s wind farm purchase.
U.S. authorities and others are looking into the bank’s hiring practices in Asia for possible corruption problems.
By Ling Zhang
Stricter Blacklist Regime
On December 25, 2013, the National Health and Family Planning Commission of China (“National Health Commission”, former Ministry of Health) issued the amended Provisions Regarding the Establishment of Commercial Bribery Blacklist in the Pharmaceutical Purchase and Sales Industries (“Blacklist Provisions”), which came into effect on March 1, 2014.
According to the Blacklist Provisions, [...]
JPMorgan Chase was the first bank to disclose a U.S. government investigation into its hiring practices in China that could violate anti-corruption laws.
The bank’s hiring practices in Asia have drawn U.S. government scrutiny for possible FCPA violations.
The New Jersey-based power company voluntarily disclosed to the DOJ in March 2012 it was examining possible improper gifts and hospitality in China.
Oral arguments have been scheduled for May in the Ralls Corp. appeal of its partially dismissed lawsuit challenging the Committee on Foreign Investment in the United States.
The California-based pharmaceutical company, under investigation since 2010, disclosed last week it had set aside $2 million for a possible FCPA settlement.
The French pharmaceutical company’s business practices are also under scrutiny in Germany and China.
The case has been followed closely for evidence of how courts are interpreting complicated new whistleblower protections enacted under the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.
But China continues to probe in its own anti-corruption sweep of the pharmaceutical industry.
Chinese Premier Li Keqiang said in remarks released Feb. 23 that bidding for construction projects, land-use contracts, and mining rights are three areas that have been prone to corruption.
Investigation Prompted by Hiring of Employee Related to Head of a Chinese Listing Hopeful
President Barack Obama speaks at outgoing Attorney General Eric Holder's portrait unveiling ceremony.
Attorney General Eric Holder called for a lower bar to federal civil rights prosecutions in an exit interview with Politico's Mike Allen.