Albemarle purports to have violated Foreign Corrupt Practices Act (FCPA)

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According to the Wall Street Journal, well-known chemical manufacturer, Albemarle, reached an agreement in principle with U.S. authorities to pay a $218.5 million fine to resolve an investigation into potential improper payments by third-party sales representatives.

Questions:

  1. Although Albemarle started as a paper mill in 1887, what is its major production now?
  2. Where is Albemarle located?
  3. What will be the sanctions or requirements for this violation besides the fine?
  4. What is the FCPA?

Source:

Tokar, D. (2023). Albemarle to Pay $218.5 Million to Settle Foreign Bribery Probe. The Wall Street Journal, Aug. 3. (Retrievable online at https://www.msn.com/en-us/money/markets/albemarle-to-pay-218-5-million-to-settle-foreign-bribery-probe)