On July 21. 2010, the President signed into law the conference version of H.R. 4173, the financial reform bill, which will impose new requirements on companies that use “conflict minerals” and provide new whistleblower rewards.
On July 15, 2010, the Senate agreed to the conference report for H.R. 4173, the financial reform bill, which contains provisions that would impose new requirements on companies that use “conflict minerals” and provide new Foreign Corrupt Practices Act whistleblower rewards, clearing the measure for the President. (See ITT's Online Archives or 07/14/10 news, 10071428, for details on the conference report's conflict minerals and FCPA whistleblower provisions.)
The Senate reached agreement to resume consideration on July 15, 2010 of the conference report for H.R. 4173, the financial reform bill, which contains provisions that would impose new requirements on companies that use “conflict minerals” and provide new whistleblower rewards. On July 15, 2010, the Senate is expected to vote on ending debate on the conference report.
On July 13, 2010, the Senate began consideration of the conference report for H.R. 4173, the financial reform bill, which contains provisions that would impose new requirements on companies that use “conflict minerals” and provide new Foreign Corrupt Practices Act whistleblower rewards. The Senate has scheduled a vote to end debate on the conference report on July 15, 2010.
On June 30, 2010, the House of Representatives passed the conference version of H.R. 4173, the financial reform bill, which contains provisions that would impose new requirements on companies that use “conflict minerals” and provide new whistleblower rewards. The Senate is expected to pass this conference version the week of July 12, 2010.
On June 30, 2010, the House agreed to the conference report to accompany H.R. 4173, the financial reform bill. The separately House- and Senate-passed bills contained trade provisions such as requirements for companies using conflict minerals, whistleblower awards for securities violations such as FCPA, expanded authority for the FTC. See future issue of ITT for details on the trade provisions in the conference report. On June 30, 2010, the Senate rejected a motion to close further debate on H.R. 4173.
On May 20, 2010, the Senate passed H.R. 4173, the financial reform bill. The House passed its own version of H.R. 4173 on December 11, 2009.
The Justice Department has issued a press release announcing it has intervened in a whistleblower lawsuit1 against Kellogg Brown & Root (KBR), Panalpina Inc. and others which alleges that employees of two freight forwarders doing business with the companies provided unlawful kickbacks to KBR transportation department employees.
The Justice Department has intervened in a whistleblower lawsuit against Kellogg Brown & Root (KBR), Panalpina Inc. and others that alleges that employees of two freight forwarders doing business with the companies provided unlawful kickbacks to KBR transportation department employees. The government will seek damages and penalties under the False Claims Act and common law, as well as penalties under the Anti-Kickback Act. (DOJ press release, dated 05/05/10, available at http://www.justice.gov/opa/pr/2010/May/10-civ-529.html)
The signatories to the Organization for Economic Cooperation and Development's (OECD's) Anti-Bribery Convention have committed to further steps in their agreement to combat bribery and corruption.