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Prohibited Foreign Trade Practices by Issuers
Exchange Act §30A
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 §
30A(a) Prohibition
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30A(b) Exception for routine governmental action
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§
30A(c) Affirmative defenses
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30A(d) Guidelines by Attorney General
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§
30A(e) Opinions of Attorney General
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30A(f) Definitions
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30A(g) Alternative jurisdiction
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Department of Justice Materials
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DOJ
webpages
FCPA
Opinion Procedure
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Enforcement Actions
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2007
Chevron
- SEC settled charges against Chevron over alleged kickbacks to the Republic
of Iraq in return for Iraqi government contracts under the
United Nations
Oil-for-Food Program
York
International
- SEC and DOJ settled charges against York
International
- Company allegedly paid kickbacks to the Republic
of Iraq in return for Iraqi government contracts under the
United Nations
Oil-for-Food Program
- York International was acquired by Johnson Controls in 2005
Bristow
Group
- Settled enforcement action against Bristow Group
for improper payments to Nigerian government officials and other violations
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SEC press release
9.26.07
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C&D order
Electronic
Data Services (EDS)
- Involved an illicit payment scheme, inadequate
public disclosures and improper selective disclosures to
securities professionals
- C&D order
9.25.07
Paradigm
B.V.
- Paradigm B.V. agrees to pay $1 million penalty to
resolve foreign bribery issues in multiple countries
- DOJ announced a deferred prosecution agreement
with Paradigm B.V., relating to improper payments made through agents in
Kazakhstan, China, Mexico, Nigeria and Indonesia
- Uncovered during IPO due diligence, which led to
voluntary disclosure to the DOJ
- Notably, Paradigm became a domestic concern
for purposes of the FCPA after gradually relocating its principal place
of business from Israel to Texas by
- Retaining a Houston-based CEO
- Moving key senior management from Israel to
Houston
- Retaining an outside auditor in Houston
- Transitioning financial and accounting functions
from Israel to Houston,
- Moving the coordination of operational business
activities from Israel to Houston
Textron
- SEC and DOJ settled with Textron
- Two of Textrons French subsidiaries allegedly
authorized and made kickback payments in connection with their sale of
humanitarian goods to Iraq under the United Nations Oil-for-Food Program
Delta
& Pine Land Company
- US-based seed company and its Turkish subsidiary
settled charges that they had violated the FCPA by making payments to
agricultural inspectors in securing inspections and obtaining certifications
required to sell or export cottonseed. See SEC Litigation Release No. 20,214 7.26.07
- Although these payments were small in amount
($43,000 over a five-year period), company paid a $300,000 fine and agreed to
retain an independent monitor to evaluate the companys compliance programs
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C&D order 7.26.07
Baker
Hughes
El
Paso Corp
Vetco
2006
Schnitzer
Steel Industries
Statoil,
ASA
Oil
States International
2005
ITXC
executive
Mircus
Titan
Monsanto
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Cases
SEC_CODE_REF_0090001192884
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In
re Immucor (ND GA 10.04.06)
- Holds that misleading statements about FCPA
violations
can give rise to §10-b and §20(a) violations
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Commentary
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Resources
Law
firm alerts
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Compliance Policies
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Corporate
policies
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