In April, the Securities and Exchange Commission (SEC) sent letters of inquiry to four Hollywood’s studios — Warner Bros., Universal Pictures, 20th Century Fox and Sony Pictures — informing them that it was investigating their business practices in China. According to Reuters, while neither the SEC, the Motion Picture Association of America (MPAA) nor the individual movie companies would formally discuss the matter, it is assumed that at issue is possible violations of the Foreign Corrupt Practices Act that makes it illegal to make improper payments to foreign officials for business purposes. Such payments are not uncommon in China. Stay […]
by David Rosen on May 10, 2012