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- Akamai Settles FCPA Investigation Into Payments to Employees of State-Owned Entities in China
Akamai Settles FCPA Investigation Into Payments to Employees of State-Owned Entities in China
June 13, 2016, Covington Alert
On June 7, 2016, the Securities and Exchange Commission (“SEC”) announced a non-prosecution agreement (“NPA”) with Akamai, Inc., an internet cloud services company, in connection with an investigation of possible violations of the books and records and internal accounting controls provisions of the US Foreign Corrupt Practices Act (“FCPA”) based on payments by its China subsidiary to employees of state-owned entities (“SOEs”) in China. Under the NPA, Akamai agreed to pay over $670,000 in disgorgement and pre-judgment interest, but Akamai was not charged with violating the FCPA and did not have to pay additional penalties. Additionally, as part of its recently announced enforcement pilot program, the US Department of Justice (“DOJ”) issued a letter of declination to Akamai closing its inquiry into the matter.
March 7, 2018
WASHINGTON—Global Investigations Review and Who’s Who Legal: Investigations have recognized Covington’s White Collar Defense and Investigations Practice Group in its 2018 report. The publication named Covington partners Tammy Albarrán and Steven Fagell to the inaugural Future Leaders issue, a ranking of “the most eminent lawyers in the field under 45,” and ...
Winter 2017, Covington Alert
Anti-corruption enforcement is at a crossroads. In many respects, global anti-corruption enforcement has never been more active. The U.S. Department of Justice (“DOJ”) and the U.S. Securities and Exchange Commission (“SEC”) in 2016 collected a total of $2.41 billion through FCPA enforcement actions against 27 corporate defendants, including through their share ...
April 21, 2016, Covington Alert
On April 5, 2016, the United States Department of Justice (“DOJ”), through the Criminal Division’s Fraud Section, announced a one-year Foreign Corrupt Practices Act (“FCPA”) enforcement pilot program (the “Pilot Program”) intended to motivate companies to voluntarily disclose FCPA-related misconduct and increase transparency around the Fraud Section’s approach ...