Philips Reports Possible FCPA Violations

Law360, New York (February 22, 2011, 6:35 PM EST) -- Royal Philips Electronics NV has notified the U.S. government of potential violations of the Foreign Corrupt Practices Act relating to medical equipment sales in Poland.

The multinational health care and electronics titan conducted an internal review to investigate claims that its Polish arm, Philips Polska, bribed hospital directors in Poland and recently turned the review over to the U.S. authorities, according to Philips’ annual report.

Philips has looked into whether employees in Poland violated the FCPA and is now cooperating with the U.S. Justice Department and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.