Assignment Task: Could you please help me answer some questions below? If you can, please explain them to me. Thank for your help a lot.
Q1. What industry is Glencore in? Why are bribery and corruption relatively common in this industry?
Q2. How does the Foreign Corrupt Practices Act work, and what actions does it cover? Does it only cover bribery in the US? Does it only cover activities by US managers? Does the act apply even to managers who have never set foot in the US? If so, how is this possible?
Q3. "The settlement of the investigations removes a distraction for Glencore." What is meant by this statement? Why are these investigations a distraction and not just part of the cost of doing business? In other words, why are firms generally anxious to settle FCPA investigations?
Q4. How does the Serious Fraud Office in the UK work? Is it similar to the division of the US Justice Department responsible for enforcing the FCPA?
Resource: Article: Glencore Settles Corruption and Bribery Charges in U.S., U.K., Brazil By Dave Michaels