02/07/2007
FCPA enforcement case
By Cydney Posner
Just a reminder that the SEC does enforce the Foreign Corrupt Practices Act. The press release reports on charges filed today under the books and records and internal controls provisions of the FCPA against El Paso Corporation, alleging that the Texas energy company indirectly kicked back nearly $5.5 million in illegal surcharges to Iraq in connection with its purchases of crude oil from third parties under the United Nations Oil for Food Program.