FCPA's High Costs May Cause Tightening In D&O Market
By Shawn Rice (June 4, 2021, 11:56 AM EDT) -- U.S. authorities' recent probing of Toyota for possible Foreign Corrupt Practices Act violations illustrates the heightened enforcement risks faced by corporate policyholders, which could encounter an even harder market for directors and officers insurance, according to legal experts.
Toyota in March disclosed its cooperation with U.S. authorities on concerns about FCPA violations based on bribery allegations involving a subsidiary in Thailand. Law360 exclusively reported last week that the U.S. Securities and Exchange Commission and the U.S. Department of Justice are gathering more evidence on the accusations.
The episode shows the increasing risks to major companies from FCPA and other government-led investigations....
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