• Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Ankura 480x60
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2011 / May / 23 / Justice Department, SEC investigations often rely on companies’ internal probes

Justice Department, SEC investigations often rely on companies’ internal probes

By Securities Docket on May 23, 2011, 6:05 pm

According to lawyers and accountants involved in internal investigations, current and former government officials, and records of cases in which internal probes have played a role, the practice is widespread.

For the government, the approach is a way to save money and claim relatively easy victories, corporate lawyers say. For the companies under investigation, it is a way to win credit for cooperating, which can translate into lesser charges or lighter penalties. For the people who conduct the internal investigations — many of them former Justice and SEC employees — it is a big business. An ongoing investigation for Diebold, which makes ATMs, has cost the firm about $16 million, a company spokesman said. Avon has confirmed spending more than $130 million. And a global bribery probe performed for Siemens cost about $950 million, according to a company accounting. That was almost triple the $324 million annual budget of the SEC’s enforcement division when the case was resolved in December 2008.

Read more: Justice Department, SEC investigations often rely on companies’ internal probes — Washington Post

Blog Widget by LinkWithin

Posted in Criminal, Industry | Tagged Investigations

« Previous Next »

Subscribe

‘Enforcement 40’ for 2020

Ankura 260x250

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2022 Securities Docket.

Powered by WordPress and Hybrid.