Wal-Mart is the largest retail organization on the planet. Indeed its nickname among financial analysts is “Planet Wal-Mart.” Repeatedly ranked Number One on the Fortune 500 list, Wal-Mart has more revenue than Apple, IBM, Microsoft, Amazon and Pepsi – COMBINED.… Continue Reading
A lawyer for Singapore-based energy trader Kernel Oil said Tuesday that a company official bribed a top Indonesia regulator to break into the country’s oil industry.
Kernel Oil’s Simon Gunawan Tanjaya allegedly paid two bribes totaling $700,000 to the head of SKKMigas, Rudi Rubiandini.… Continue Reading
The entry of the Chinese government into the international fight against corruption and bribery is truly a game-changer. While there may be many reasons for this very public move by the Chinese government, it is clear that foreign companies are now on notice.… Continue Reading
If a local manager in China pays bribes and is liable under the law, could his or her supervising executives in the U.S. or Europe also be held criminally responsible? Or should they shrug off the possible liabilities by claiming “the mountain is high, the emperor is far away?”… Continue Reading
The House of Commons Public Accounts Committee (PAC) issued a report in July that set out a ‘catalogue of errors and poor judgement’ by Richard Alderman, the former director of the Serious Fraud Office, for the terms he agreed with the agency’s former chief executive.… Continue Reading
A sweeping new company law in India is a major overhaul of the basic rules for corporate operation and an attempt to introduce greater transparency and improved corporate governance.
Like many things in India, there is much hope and even greater questions about the details and effectiveness of the new regime.… Continue Reading
The SEC is investigating whether JP Morgan Chase violated the FCPA by hiring two children of Chinese officials to win business.
The New York Times reported Saturday that the investment bank hired the son of the chairman of the China Everbright Group, a China state-controlled conglomerate, and won business from the group that included a stock offering by a subsidiary.… Continue Reading
Wal-Mart said Thursday it expects to spend between $75 million and $80 million for each of the next two quarters for FCPA matters and compliance programs.
It spent $82 million on FCPA and compliance during its fiscal second quarter ended July 31, $12 million to $17 million above its estimate.… Continue Reading
Cai Bin, former deputy director of Panyu sub-bureau of Guanzhou Public Security Bureau, was tried for taking bribes worth $448,247 from several private investors seeking land and exemption from fines. Two of the alleged bribe-givers were identified as Pan’an Industrial Automobile Maintenance Factory and Panyu Shawan Volkswagen Automobile Maintenance Factory.… Continue Reading