In the wake of reports this spring that Wal-Mart paid millions of dollars in bribes to expand its operations in Mexico, other retailers have notified U.S. authorities of possible violations of the anti-bribery law, the Foreign Corrupt Practices Act, in their international operations, Reuters says. Now the Justice Department and the Securities and Exchange Commission are considering a wide-ranging investigation of the retail industry.
The Securities and Exchange Commission usually handles such industry-wide investigations, although the Justice Department sometimes plays a role. Both the SEC and the Justice Department sent letters asking about FCPA violations in 2010, and more recently the SEC sent queries to movie studios.
For previous stories on this topic, see Wal-Mart Said Subject of U.S. Probe, Probe Exposes Wal-Mart to Fines and Many Firms Loath to Report Bribery.
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