On July 5, 2018, the SEC and the Department of Justice announced that a large financial institution, has agreed to pay nearly $76 million to settle charges that its Hong Kong-based subsidiary, violated the Foreign Corrupt Practices Act.
The case is another example of the U.S. government’s pursuit of companies that hire so-called “princelings,” a term used in Asia to refer to the young relatives of key executives or political figures….
via Bryan Cave – DOJ/SEC FCPA Settlement Targets Hiring Practices Used as Bribes.
