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Wal-Mart scrambles to address FCPA violation accusation

Company has created an anti-bribery watchdog position, among other things

After news broke over the weekend the Wal-Mart Stores Inc. may have participated in covering up rampant violations to the Foreign Corrupt Practices Act (FCPA) within its Mexican subsidiary, Wal-Mart de Mexico, the company has been taking steps to right the wrong.

The company announced yesterday that it has appointed a global officer to oversee its compliance with U.S. law that makes paying bribes to foreign officials illegal. Although the company hasn’t said when it created the position, Wal-Mart reported today that Tom Gean, a Wal-Mart in-house lawyer, holds the new global compliance officer title. In his new position, Gean—who has been in-house counsel at Wal-Mart since 2004—will report to the general counsel for Wal-Mart’s international unit.


Cathleen Flahardy

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