FCPA Lessons From The Allianz Settlement

Law360, New York (January 14, 2013, 12:27 PM EST) -- On Dec. 17, 2012, the U.S. Securities and Exchange Commission announced a settlement under the U.S. Foreign Corrupt Practices Act with Allianz SE, the insurance company based in Germany, resulting in $5.3 million in civil penalties and more than $7 million in disgorgement and interest. The settlement stemmed from a two-year investigation into allegations that an Allianz subsidiary paid bribes to government officials in Indonesia over a seven-year period and violated the FCPA’s books and records and internal controls provisions. The U.S. Department of Justice started...
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