The publicity and costs to Wal-Mart have been well documented. On his FCPA Professor website, Professor Koehler has consistently stated that he views this scandal as largely a failure of corporate governance. In a post entitled, “Wal-Mart One Year Later” he said, “corporate governance, or lack thereof, is what made the NY Times April 2012 remarkable. This is the reason why Wal-Mart generated all the buzz it did a year ago this week and I’ve consistently held the view that the Wal-Mart story is a corporate governance sandwich with the FCPA as a mere condiment.” I thought about Professor Koehler’s observations on this failure in light of Clifford’s article and wondered what the Board’s legal obligations might be.
‘Enforcement 40’ for 2020
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