A reader wanted to know why I am devoting several articles on the major problems found at California retail stores of Wallmart and Sam's Club . As a former compliance officer, I am familiar with Wallmart's massive settlement of its Foreign Corrupt Practices Act (FCPA) violations, and this new information deserved to be publicly exposed; Wallmart's corporate culture has resulted in serious problems, which we are in the process of covering in our multi-part ongoing series.
The company's website touts what it claims is a comprehensive program of ethics and compliance policies, but what we are reporting , based upon first-hand knowledge of present and former Wallmart & Sam's club employees, is rampant noncompliance with the company's own policies and procedure, as well as State and Federal laws and regulations.
You are strongly advised to review the 14-page Cease and Desist Order from the Securities & Exchange FCPA case entitled In the Matter of Wallmart, Inc.. If you are a compliance officer, I warn you it will be extremely disturbing material. If you are a law enforcement officer, it will most likely make you angry. If you are a regulator, you will wonder why the company is not presently serving a long sentence of Probation, under US District Court supervision, to insure that such amoral, and illegal, conduct never occurs there again.
You may access the complete text of the order here: sec.gov/litigation/admin/2019/34-86159.pdf
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