On March 20, Marubeni agreed to pay an $88 million fine and plead guilty to foreign bribery charges handed down by the DOJ, markingMarubeni’s second payout in three years. Marubeni stood accused of bribing high-ranking officials in Indonesia in order to secure a $118 million contract for an energy project as part of a consortium. Once again, digital discovery of email traffic made it easy for the DOJ to pursue Marubeni:
Category: Law
Marubeni Pays $88 Million FCPA (Criminal) Fine, Second in Three Years, – Emails Point the Finger
On March 20, Marubeni agreed to pay an $88 million fine and plead guilty to foreign bribery charges handed down by the DOJ, markingMarubeni’s second payout in three years. Marubeni stood accused of bribing high-ranking officials in Indonesia in order to secure a $118 million contract for an energy project as part of a consortium. Once again, digital discovery of email traffic made it easy for the DOJ to pursue Marubeni:
SEC Close to Weighing Possible Action on Proxy Advisory firms
WASHINGTON (Reuters) – The Securities and Exchange Commission will soon review recommendations for possible regulatory action targeting proxy advisory firms, SEC Chair Mary Jo White said on Wednesday.
White did not offer any details on what kinds of new rules or changes could be in store for proxy advisory firms like Glass Lewis and Institutional Shareholder Services, which help large institutional investors weigh how to vote on critical company issues such as board elections and compensation.
Whistleblower on JP Morgan Will Receive a $64 Million Reward for Tip Leading to a FCA Violation Settlement
The whistleblower will get $64 million as a reward for tips leading to this settlement on a FCA violation: (DOJ) The Department of Justice today announced that JPMorgan Chase (JPMC) will pay $614 million for violating the False Claims Act by knowingly originating and underwriting non-compliant mortgage loans submitted for insurance coverage and guarantees by […]
“Abe Plans Japan Inc. Governance Code to Boost Growth, LDP Says”
By Tom Redmond, Anna Kitanaka and Takashi Hirokawa Feb. 28 (Bloomberg) — Prime Minister Shinzo Abe’s ruling Liberal Democratic Party is planning a governance code for Japanese companies to boost their competitiveness and enhance investor protection, an official said.
“Ex-Denso Exec to be Jailed in U.S. Over Obstructing Cartel Probe”
Kyodo -Feb 21, 2014 WASHINGTON – A former executive of Japanese auto parts maker Denso Corp. will be jailed in the United States after pleading guilty to obstructing a 2010 investigation of a price-fixing allegation, the U.S. Justice Department said Thursday.
The move was part of the department’s probe of price fixing in the auto parts industry in which it cracked down on 29 people, including the former Denso executive, and 26 companies including Japanese ones.
“Ex-Denso Exec to be Jailed in U.S. Over Obstructing Cartel Probe
Kyodo -Feb 21, 2014 WASHINGTON – A former executive of Japanese auto parts maker Denso Corp. will be jailed in the United States after pleading guilty to obstructing a 2010 investigation of a price-fixing allegation, the U.S. Justice Department said Thursday.
The move was part of the department’s probe of price fixing in the auto parts industry in which it cracked down on 29 people, including the former Denso executive, and 26 companies including Japanese ones.
Bridgestone Pleads Guilty to Price-Fixing – One of Many Caught in the Same Probe
(From the BBC News web site) — Tyre maker Bridgestone has pleaded guilty to price-fixing and agreed to pay a $425m (£255m) fine to the US Department of Justice (DOJ).
According to the charges, Bridgestone participated in raising the prices of anti-vibration rubber parts sold to car manufacturers.
US judge Orders Sanctions Against Big Four Auditors in China (Shearman & Sterling)
The Administrative Law Judge in the SEC’s long-running case against the Chinese affiliates of the Big Four auditors has issued an order barring the firms from practicing before the SEC for six months. The opinion can be viewed at
http://www.sec.gov/alj/aljdec/2014/id553ce.pdf.
Canada Experiences Its Most Active Year Yet in Anti-Corruption Law and Enforcement
During 2013, there were many developments in Canadian anti-corruption law and enforcement, including new Royal Canadian Mounted Police (RCMP) investigations and charges, CFPOA convictions, legislative amendments and related regulatory initiatives. At the present time, the RCMP advises that it has over 35 CFPOA investigations ongoing. The most significant of this past year’s CFPOA developments are summarized below. …
http://www.mccarthy.ca/article_detail.aspx?id=6591