February 13, 2007
J & J Discloses Possible FCPA Problems
The Wall Street Journal reports, in an article by Avery Johnson, Kara Scannell & Jon Kamp, that Johnson & Johnson has disclosed improper payments that might be within the jurisdiction of the Foreign Corrupt Practices Act. The company's voluntary disclosure statement includes a retirement of the Worldwide Chair, Medical Devices and Diagnostics. Even companies with strong social responsibility statements and policies on business and ethics conduct are not immune. The immediate disclosure, however, is an indication of strong corporate compliance.
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