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Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Former Detroit Public Library contractors jailed for bribery

Two owners of IT services companies were sentenced to prison Wednesday for bribing the former chief administrative officer of the Detroit Public Library in exchange for contracts.

James Henley, 44, of Detroit, and Ricardo Hearn, 32, of Royal Oak, Michigan, were sentenced to 27 months and 28 months respectively.… Continue Reading

China Corruption Blotter (January 30, 2015)

Shao Juntao, general manager of the No.1 branch of Guangxi Longlin-Baise Expressway Development Co Ltd, was sentenced to 14 years in prison for receiving $981,274 in bribes and offering half of them to Liao Xiaobo, vice-director of the Development and Reform Commission in Guangxi region.… Continue Reading

Don’t forget antitrust enforcement (and compliance)

The DOJ said last week it collected $1.86 billion in criminal fines and penalties from antitrust prosecutions during the fiscal year that ended September 30, 2014. 

Five companies paid penalties of more than $100 million each, including a $425 million criminal fine levied against Bridgestone Corp.,… Continue Reading

Civil remedies: When bribery infects a contract

The English civil law remedies arising from a contract that is subsequently infected by bribery were recently the subject of consideration in the case of Tigris International NV v China Southern Airlines Company Ltd & Anor [2014] EWCA Civ 1649 (17 December 2014) [paragraphs 128-145].Continue Reading

FDIC wants banks to use ‘risk based’ compliance for each customer

The Federal Deposit Insurance Corporation (FDIC) issued guidance Wednesday encouraging its insured banks to take a risk-based approach in assessing individual customer relationships.

The FDIC said in its Financial Institution Letter that looking at risk on a case-by-case basis is better than declining to provide banking services to entire categories of customers.… Continue Reading

Cobalt receives SEC declination for Angola investigation

Here’s a statement that Cobalt released Wednesday:

 

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Cobalt International Energy, Inc. (“Cobalt”) (NYSE:CIE) today announced that it has received a termination letter from the United States Securities and Exchange Commission (“SEC”) advising Cobalt that the SEC’s FCPA investigation relating to Cobalt’s operations in Angola has concluded and that the Staff does not intend to recommend any enforcement action by the SEC.… Continue Reading

Compliance Alert: New rules for Russia branches and rep offices

We recently issued a client alert on new rules Russia issued for branches and representative offices of foreign companies. We thought the client alert would be of interest to readers of the FCPA Blog as it creates significant new registration requirements for foreign businesses operating in Russia. … Continue Reading

SEC recommends FCPA charges against BNY Mellon for sovereign wealth fund practices

Bank of New York Mellon Corp. said the SEC has recommended an enforcement action for possible FCPA violations related to the bank’s dealings with sovereign wealth funds.

In an SEC filing Friday, BNY said it received a so-called Wells Notice in the fourth quarter of 2014, and some current and former employees had received the same notice in the third quarter.… Continue Reading

Real leaders inspire others to be better people

Image courtesy of the VaticanMany business organizations today, despite decades of research and findings to the contrary, don’t understand the benefits of emotional intelligence (the soft skills). They don’t get it that when leaders connect better with employees, and employees connect better with each other, there are big performance and ethical improvements.… Continue Reading