For companies looking to get out of the crosshairs of Department of Justice by agreeing to a deferred prosecution agreement, the appointment of a corporate monitor has become a familiar condition, particularly in Foreign Corrupt Practices Act cases.
Now, in a sign of its own growing anti-corruption efforts, the United Kingdom has been getting into the monitor game. Hughes Hubbard & Reed announced May 12 that partner Kevin Abikoff has been hired by Innospec Inc. to act as compliance monitor as part of a $40.2 million bribery settlement it reached in March 2010 with the U.S. Department of Justice, Securities and Exchange Commission, and the U.K. Serious Fraud Office. Innospec pleaded guilty to federal charges related to alleged kickbacks to the Iraqi government in the U.N. oil-for-food program and for violating the U.S. embargo with Cuba.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]