Attorney Seth Waxman Comments to The FCPA Report on Nortek and Akamai

June 15, 2016
Dickinson Wright Attorney Seth Waxman recently spoke to The FCPA Report for the article “How Nortek and Akamai Escaped SEC and DOJ Prosecution for Chinese Bribery.” (6/15/16)

It was reported this month that Nortek and Akamai entered into non-prosecution agreements with the SEC after promptly self-reporting corruption at subsidiaries in China and offering extensive cooperation to the SEC and DOJ. On the same day the NPAs were announced, the DOJ made declination letters to both companies public. “The message is that companies that voluntarily and aggressively take it upon themselves to root out corruption within their companies and comprehensively work with the government to remediate the problems will receive the full benefit of their cooperation,” said Mr. Waxman.

Mr. Waxman went on to discuss what companies can do to make sure to review their compliance programs and make any necessary steps to strengthen their reporting mechanisms, including performing internal audits. “Audits are the first line of defense,” Mr. Waxman said. “The timing component and response mechanism of an auditing system is extremely important.”

To read more, please visit
  • |