In March 2019, US DoJ and SEC announced that “MTS (Mobile TeleSystems), the largest mobile telecommunications company in Russia, and its wholly owned Uzbek subsidiary, have entered into resolutions with the DoJ and SEC and agreed to pay a combined total penalty of $850 million to resolve charges arising out of a scheme to pay bribes in Uzbekistan.” Actually, I predicted that MTS might be in trouble in my post on VimpelCom case back in 2016. Since 2015, MTS Ukraine, a subsidiary of leading Russian mobile service provider MTS is operating under the brand of Britain's Vodafone.Read More
Do you know how it feels when you get 10 minutes to present a topic while you have quality content for 45? It sucks. It usually happens when you are the last speaker in the panel. And you can hardly do anything that people follow their timelines. It happened to me again recently and ...Read More
On 18 February 2016, US DoJ and SEC announced “a global settlement that requires telecommunications provider VimpelCom Ltd. to pay more than $795 million: $167.5 million to the SEC, $230.1 million to the U.S. Department of Justice, and $397.5 million to Dutch regulators.” ...Read More
According to DoJ Announcement of December 20, 2013,“Alfred C. Toepfer International Ukraine Ltd. (ACTI Ukraine), a subsidiary of ADM (Archer Daniels Midland Company), pleaded guilty and agreed to pay more than $17 million in criminal fines to resolve charges that it, in violation of FCPA ...Read More
In the first part of this post I rather touched the theoretical part, i.e. what the law exactly says; now is the time to see real life examples of how FCPA is enforced and its extended overseas reach.
It is important to note that interpretation of legislation has always been a privilege of the judicial ...
Every now and then we see the headlines about some company or organization is being pursued for committing acts of corruption in different parts of the world. One could think about the latest FIFA corruption scandal or the Forbes listed Mr. Dmytro Firtash, who was detained in Switzerland ...Read More
On September, 9, 2015, the U.S. Department of Justice had issued a new memorandum authored by Deputy Attorney General Sally Quillian Yates entitled “Individual Accountability for Corporate Wrongdoing”. The memo refocuses government enforcement inquiries on individuals and sees ...Read More
Speaking with specialists in compliance field and managers of Ukrainian branches I realized that many of us do not read essential readings and rely only on internal company’s policies, procedures, frameworks, trainings and guidance. Indeed it is wise and important to build global consistency in ...Read More