FCPA survey finds hike in probes, prosecutions.

• Author: Marshall, Jeffrey
• Position: CORRUPTION

Investigations and prosecutions of American companies (such as Halliburton, Xerox Corp. and Bristol Meyers Squibb Co.) bribing officials of foreign governments have been rising, from nine companies in 2003 to 26 in 2006 and 29 in 2007.

That's according to the "2008 Foreign Corrupt Practices Act (FCPA) Trends and Patterns Report" of the FCPA Digest, published annually by the law firm of Shearman & Sterling.

Among the other key findings:

* Voluntary company disclosures to the Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC) have risen significantly. Of the 68 newly disclosed FCPA investigations between 2005 and 2007, 44 were voluntarily disclosed; that contrasts with the government's initiation of 21 of...