This blog provides information on how U.N. Global Compact participants' walk the talk. The GC is a voluntary initiative at the strategic level to engage businesses towards sustainability principles. There is however a risk of 'blue-washing' by covering up corporate misbehaviour and law infringement from large MNEs through poorly enforced 'Integrity Measures' and weak U.N supervision. Let's 'WE', civil society stay tuned!
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Saturday, July 30, 2011
Diageo Agrees to Pay USD 16 Million to Settle Corruption Claims from the S.E.C.
Diageo Plc (DGE.L), will pay more than $16 million to resolve U.S. regulatory claims the firm bribed officials in South Korea, India and Thailand to win sales and tax benefits.
On July 27 2011, a press release from the U.S. Securities and Exchange Commission deplored violations of the Foreign CorruptPractices Act (FCPA) stemming from more than six years of improper payments to government officials in India, Thailand, and South Korea.
More here.
Labels:
corruption,
Diageo,
FCPA,
Global Compact,
SEC,
UNGC
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