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SEC Invokes Control Person Liability Provisions of the Exchange Act to Heighten Potential Exposure for FCPA Violations |
August 21, 2009
Recently, the U.S. Securities and Exchange Commission (the "Commission") filed a settled enforcement action involving charges brought by the Commission against Nature's Sunshine Products, Inc. ("NSP"), its Chief Executive Officer, Douglas Faggioli ("Faggioli"), and Chief Financial Officer, Craig D. Huff ("Huff"), alleging violations of the Foreign Corrupt Practices Act (the "FCPA"), 15 U.S.C. ยง 78dd-1. The charges concerned alleged bribery payments made by NSP's foreign subsidiary in Brazil in 2000 and 2001 to customs brokers in Brazil.
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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