Allegations include violations of the False Claims Act and the Foreign Corrupt Practices Act (FCPA) as well as the Anti-Kickback Act of 1986 and the Truth In Negotiations Act.
Microsoft is committed to observing the standards of conduct set forth in the United States Foreign Corrupt Practices Act and the applicable anti-corruption and anti-money laundering laws of the countries in which we operate.
FORBES: Microsoft And The Rising Federal Scrutiny Of Bribery
As Lynn Turner, the SEC's former chief accountant, points out, much of what the act requires is covered by the Foreign Corrupt Practices Act of 1977 and by the Treadway Commission's recommendations on firms' internal controls, which date back to the early 1990s.
To conceal its relationship with Transworld--and avoid running afoul of the Foreign Corrupt Practices Act--Lockheed, according to Semtek's allegations, created a series of phony contracts and other business agreements with Millman's company to make it appear as if Transworld was nothing more than a vendor to Lockheed.
In the annals of American legislation, few laws are as futile in their impact, capricious in their enforcement, and hypocritical in their content as the Foreign Corrupt Practices Act of 1977 (FCPA).
The Justice Department and the Securities and Exchange Commission have not hesitated in pursuing Foreign Corrupt Practices Act cases against companies involved in such conduct.
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Wal-Mart, based in Bentonville, Arkansas, on Nov. 15 said it started inquiries into potential violations of the Foreign Corrupt Practices Act in India, Brazil and China.
FORBES: Wal-Mart And Corruption In India: Is There Actually Any Way To Avoid It?
In March, 2011, Sands disclosed that it was being investigated by the Department of Justice and the Securities and Exchange Commission for potential violations of the Foreign Corrupt Practices Act.
And today Senate Lautenberg, his counterpart, called on DOJ and the Securities and Exchange Commission to look at it under the Foreign Corrupt Practices Act.
The US Foreign Corrupt Practices Act makes it a crime for US corporations and their subsidiaries to bribe foreign officials, and some other large US companies have found themselves on the wrong side of the law.
Walmart is already under investigation by the SEC and the US Department of Justice over its potential breach of the Foreign Corrupt Practices Act (FCPA), which bans US businesses from bribing foreign officials.
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More typically, the news on this front swirls around global corporations and the record-setting fines (and criminal penalties) levied against companies that fall afoul of the Foreign Corrupt Practices Act (FCPA), which prohibits bribery of foreign officials.
Others, like Arlen Specter, chairman of the Senate Committee on the Judiciary, Sub-committee on Crime and Drugs, have recently complained about what they deem to be inadequate sentencing in Foreign Corrupt Practices Act cases.
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