Universal Weather and Aviation (Booth 363) announced here that it has started working with anti-bribery consultancy Trace to help mitigate its clients’ risk of bribery and corruption violations.
Assistant attorney general Lanny Breuer announced yesterday that Nordam “has entered into an agreement with the Department of Justice to pay a $2 million penalty to resolve violations of the Foreign Corrupt Practices Act [FCPA].” Nordam, a Tulsa, Okla., MRO provider, has also agreed to cooperate with the DOJ for three years, including periodic reports on compliance efforts, and the company must “implement an enhanced compliance program and internal controls designed to prevent and detect FCPA violations.”
A former business director of Innospec, the world’s only manufacturer of tetraethyl lead (TEL) used to boost octane in avgas, and a third-party agent for the company were charged with bribery by the Securities and Exchange Commission on August 5. The SEC alleges that “David P.
For Titan Corp., the biggest fine imposed by the U.S. Justice Department since the passage of the Foreign Corrupt Practices Act (FCPA) in 1977 must seem like a pittance compared with the less obvious losses it suffered as a result of its malfeasance.