Frederic Cilins, 51, a French citizen, pleaded guilty Monday in the Southern District of New York to obstructing a federal criminal investigation into whether a mining company paid bribes to win mining rights in the Republic of Guinea.… Continue Reading
A friend of the court (amicus) brief explaining the fundamentals of compliance programs should be prepared, possibly by a new working group led by former DOJ and SEC officials, facilitated by the Rand Center for Corporate Ethics and Governance.… Continue Reading
Two former employees of Sanofi-Aventis were convicted by a German court on bribery charges 10 months ago and the Paris-based pharma was fined €28 million ($39 million), according to a Reuters report last week.… Continue Reading
French banks Societe Generale and Credit Agricole are being investigated by U.S. authorities for alleged money laundering and economic sanction breaches involving Iran, Cuba and Sudan.
The U.S. Treasury and Justice Departments, the Manhattan district attorney’s office and the New York Department of Financial Services are conducting the investigations, the Wall Street Journal reported on Friday.… Continue Reading
The European Commission issued a draft regulation on conflict minerals Wednesday, outlining a voluntary self-reporting system that’s not limited to central Africa.
The draft regulation (available here in pdf) focuses on the “upstream” portion of a company’s supply chain — that closest to the source of the minerals — and only targets companies that import conflict minerals into the EU.… Continue Reading