This month, there were a number of Foreign Corrupt Practices Act (“FCPA”) enforcement actions. Akamai Technologies, Inc.
(“Akamai”) agreed to pay USD 671,885 to the U.S. Securities and Exchange Commission (“SEC”) to resolve allegations that Akamai’s subsidiary schemed with a third party to pay cash bribes and other expensive gifts to employees of Chinese state-owned entities to obtain and retain business contracts. Nortek Inc.
(“Nortek”) also agreed to pay USD 322,058 to the SEC to resolve allegations that Nortek’s subsidiary paid improper benefits – including cash, meals, travel, accommodations and entertainment - to Chinese officials to receive preferential treatment, relaxed regulatory oversight, or reduced customs duties, taxes and fees. Lastly, Analogic Corporation
(“Analogic”) agreed to pay approximately 11.5 million to the SEC and acknowledged that its subsidiary acted as a conduit for its distributors to funnel money to unknown third parties in a decade-long illicit-payment scheme. Concurrently, the subsidiary agreed to pay more than USD 3.4 million in criminal penalty to the U.S. Department of Justice (“DOJ”).
In addition, another case was announced this month. Dutch oil and gas services company Frank’s International N.V.
self-disclosed an internal investigation into the operations of its West African subsidiaries regarding matters including possible violations of the FCPA, company policies and other applicable laws to U.S. authorities.
Visit the TRACE Compendium
to view the complete entries, along with other updates from this month.