Category: SEC

FRANCE: Alcatel-Lucent Corruption Judgment upheld

The appeal of telecommunications equipment supplier Alcatel-Lucent was rejected by French Courts, finalizing the judgment of 150,000 euros in fines levied against the group for bribery of foreign public officials in Costa Rica in the early 2000s.

SWEDEN: Four Ericsson Employees Charged with Bribery.

Four former employees of Swedish telecommunications company Ericsson AB have been charged with bribery in Stockholm. In parallel, Ericsson agrees to pay its Finnish competitor Nokia $97 million for damages claimed related to its corrupt activities.

Deutsche Bank fined over $130M to Resolve Bribery and Fraud Violations

Deutsche Bank has agreed to pay US authorities nearly $130M and entered into a DPA to resolve allegations that it breached bribery and fraud laws. A network of consultants in the UAE and Saudi Arabia were used to funnel bribes to clients. Commodities trading… Continue Reading “Deutsche Bank fined over $130M to Resolve Bribery and Fraud Violations”

USA: SEC awards more than $300,000 to Auditor

If you thought that audit or compliance professionals were ineligible for whistleblower awards, think again. The Securities and Exchange Commission (SEC) awarded today more than $300,000 to an auditor whose “high-quality information and continuing assistance significantly contributed to a successful enforcement action”.