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FCPA The government has some heavy hammers making defense a very risky proposition. 60% of companies charged settle rather than risk court. Below are the top 10 fines in history, and it includes some energy companies. Is CIE a potential top 10? I sincerely doubt it. So monetarily the amount will hurt but it wont be a company killer. If there is a highly ambitious prosecutor, other enforcement actions might come into play such as giving up "tainted leases". I consider this to be a highly remote possibility, but understanding the existence of and evaluating risks is part of investing. Also below are the currently open FCPA cases, CIE and another 105 companies. Alcoa lands 5th on our Top Ten listBy Richard L. Cassin | Friday, January 10, 2014 at 1:08AM Thursday's $384 million enforcement action against Alcoa and one of its subsidiaries ranks 5th on our list of the Top Ten FCPA cases of all time. The oldest and biggest case on the list is still Siemens' $800 million settlement from 2008. Dropping off the list today isAlcatel-Lucent's $137 million settlement from 2010. Here are the current Top Ten FCPA enforcement actions of all time:
___________ tagged Alcoa, Daimler, Halliburton, JGC, KBR, Siemens AG, Snamprogetti, Technip, Top Ten, Total S.A., Weatherford The Corporate Investigations List (July 2014)By Richard L. Cassin | Monday, July 7, 2014 at 7:28AM The companies listed below are the subject of an ongoing and unresolved FCPA-related investigation. The names are current through June 30, 2014. The entries are based on disclosures in SEC filings or credible news reports or both. Some companies on the list have disclosed DOJ and SEC investigations, and declinations from only one of those agencies. We're assuming the agency for which a declination hasn't been disclosed is continuing its investigation. The DOJ and SEC don't disclose the existence of FCPA investigations or comment on them. That means non-issuers (non-public companies) and issuers that have a pending investigation but haven't disclosed it, may not appear on our list. This data is made available once again through the generous contribution of an anonymous volunteer researcher. In addition to the companies on the list, the researcher identified at least 20 others suspected to be the target of an ongoing FCPA investigation. The researcher (and others) aren't able to confirm those investigations using reliable sources, so the companies have been omitted. Here are the current 106 names:
The list for end of 2013 is here and for the end of 2012 is here. |
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