FCPA Books and Records Violations: The Government Will Always Win.

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The Foreign Corrupt Practices Act (FCPA) is aimed at preventing bribery of foreign officials. One key part of the FCPA is the books and records provision, which includes the following from 15 U.S.C. § 78m:

(2) Every issuer which has a class of securities registered pursuant to section 78l of this title and every issuer which is required to file reports pursuant to section 78o (d) of this title shall—

(A) make and keep books, records, and accounts, which, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the issuer; Continue reading

Siemens Bribery Investigation Ends With a Fine

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The investigation into bribery allegations at Siemens AG ends with a fine and a charge for illegal profits. The company is paying the equivalent of $284 million in a case that prosecutors have referred to as Europe’s largest bribery investigation ever.

This part of the investigation is related to the company’s telecommunications-equipment unit. A former manager in this unit, Reinhard Siekaczek was indicted last week in connection with the bribery investigation, and has been accused of embezzling €24 million. Continue reading