Investigation Prompted by Hiring of Employee Related to Head of a Chinese Listing Hopeful
By The Global Compliance and Disputes Practice Group
Anti-corruption enforcement efforts in China historically have tended to focus on the recipients of bribery, as evidenced by harsher statutory penalties for bribe takers and the highly publicized prosecution of government officials accused of accepting illicit payments. However, recently issued guidance on PRC anti-bribery law places the focus squarely on bribe [...]
Targeting multinational corporations instead of its own corrupt officials can help the Communist Party save some face, professor Daniel Chow said at a discussion hosted by Fordham Law School and the Chinese Business Lawyers Association.
In a speech, Kathleen Hamann warned compliance officers to be prepared to mediate among multiple jurisdictions, and singled out China for its lack of coordination with other international enforcement agencies.
Paying attorneys’ fees and making compliance changes appears to be a new trend in settling shareholder derivative lawsuits that allege foreign bribery failures. DOCUMENTS attached.
The auditing firms said they could not give documents to the SEC without violating Chinese law. An administrative law judge said the firms “willfully” failed to provide documents to U.S. regulators.
At least three Chinese drug companies are under investigation by China for paying bribes, joining the 10 known Western pharma companies swept up in the probe.
By Covington & Burling LLP
On December 25, 2013, China’s National Health and Family Planning Commission (“NHFPC,” the successor to the Ministry of Health) issued the Regulations on the Establishment of Commercial Bribery Records for the Purchase and Sale of Medicines (“2013 Blacklist Rules”; a Covington translation can be found here), which require details of companies [...]
U.S. District Judge Amy Berman Jackson’s swift and unconditional approval stands in contrast to the harder line her colleague Judge Richard Leon has taken in civil FCPA settlements.
Just as China recently stepped up investigation into corporate corruption, it also has signaled its intention to be included among the world’s most aggressive enforcers of antitrust laws.
Just as China recently stepped up investigation into corporate corruption, it also has signaled its intention to be included among the world’s most aggressive enforcers of antitrust laws, according to noted Kaye Scholer LLP antitrust partner Laura Shores.
Without revealing numbers, the company says that if the Justice Department were to require a similar sum, the penalties would damage its financial condition and ongoing business.
The baby formula maker said it is complying with the Securities and Exchange Commission’s request and has opened an internal investigation.
The British drugmaker nevertheless says it is “committed” to China, which is “critical” to its future.
Two years after disclosing an internal investigation, Diebold settles for more than twice its original set aside to resolve bribery allegations in Russia and Asia. UDPATED with copy of the DPA and attachments.
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.