In the wake of reports this spring that Wal-Mart paid millionsof dollars in bribes to expand its operations in Mexico, otherretailers have notified U.S. authorities of possible violations ofthe anti-bribery law, the Foreign Corrupt Practices Act, in theirinternational operations, Reuters says. Now the Justice Departmentand the Securities and Exchange Commission are considering awide-ranging investigation of the retail industry.

The Securities and Exchange Commission usually handles suchindustry-wide investigations, although the Justice Departmentsometimes plays a role. Both the SEC and the Justice Departmentsent letters asking about FCPA violations in 2010, and morerecently the SEC sent queries to movie studios.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.