<p>United Parcel Service Inc. has launched an internal investigation into a subsidiary that the shipping company said might have violated the U.S. Foreign Corrupt Practices Act.</p><p>In a report, UPS said "certain conduct" by Supply Chain Solutions that may have violated the law began before the subsidiary's 2001 acquisition of a freight forwarding business that was part of Fritz Companies Inc.</p><p>The Foreign Corrupt Practices Act, also known as the FCPA, provides for criminal penalties on American businesses that bribe officials of foreign governments.</p><p>UPS did not provide details of the alleged misconduct but said it had informed the Securities and Exchange Commission and the Justice Department and intends to cooperate in any review by the government.</p><p>"We do not believe that the results of this investigation, the remediation or related penalties, if any ... will have a material adverse effect on our business and prospects," the Atlanta-based company said.</p>
