Squire Patton Boggs has published its first edition of the Commodities & Shipping Group’s (CSG) Quarterly Update. The topic we chose to focus on for this publication is slavery in supply chains. The Global Survey Index reports over 45.8 million people are subject to modern slavery (26% of whom are children, and 55% are women … Continue Reading
Following a ruling issued last week by a federal judge in Texas, ExxonMobil Corporation (“ExxonMobil”) will not have to pay a previously issued penalty for contracting with Russia’s state-owned PJSC Rosneft Oil Company (“Rosneft”), since it was not provided fair notice by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) that … Continue Reading
On May 29, 2013, Total S.A. (“Total”), the French oil and gas conglomerate, entered into a three-year deferred prosecution agreement (DPA) with the DOJ and a settlement agreement with the SEC to resolve past violations of the FCPA’s anti-bribery, books and records and internal controls provisions. As part of the agreements, Total will pay $245.2 … Continue Reading
The UK’s Bribery Act, scheduled to come into force on July 1, 2011, will have the most significant impact on the oil and gas industry, according to research by Ernst & Young. Ernst & Young’s findings are based on an analysis of bribery prosecutions under the U.S. Foreign Corrupt Practices Act (FCPA) over the last … Continue Reading
With the last member of the infamous TSKJ joint-venture resolving FCPA charges this week, has the DOJ finally closed the door on its very lucrative Bonny Island investigation? JGC, a Japanese company headquartered in Yokohama, Japan, resolved an FCPA enforcement action brought by the DOJ concerning JGC’s participation in the Bonny Island, Nigeria, bribery scheme. … Continue Reading
On Friday, March 11, Jeffrey Tesler, who had challenged extradition from the UK to the US, relented in his fight and pleaded guilty to one count of conspiracy to violate the FCPA and one substantive violation of an FCPA antibribery provision. In 2009, the DOJ initially charged Tesler in an 11 count indictment consisting of … Continue Reading
Russia’s hosting a great party–everyone’s invited. Who will be able to survive the hangover from Russia’s samogon (moonshine)? U.S.-based Panalpina, Inc. and its parent Panalpina World Transport (Holding) Ltd., a Swiss freight forwarding company with 10 offices across Russia, were charged with FCPA violations that occurred in Russia. The charges were for both conspiring to … Continue Reading
