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Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
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

Bill Steinman
Contributing Editor

France enforcement score: 0 for 24

Today the OECD’s Working Group on Bribery issued its Statement on France’s Implementation of its Anti-Bribery Convention. While acknowledging some progress, it expresses “serious concerns for France’s limited efforts to comply with the OECD Convention….and strongly encourages France to pursue the reforms which were previously announced and remain necessary.”

The Statement followed on from a critical Phase 3 Monitoring Report in October 2012 which contained no less than 33 “concrete” recommendations.… Continue Reading

UK court denies damages to Innospec competitor

The danger of litigating, at least to trial, on the back of criminal conduct giving rise to guilty pleas and convictions both under the FCPA and similar English legislation was illustrated in the recent case of Jalal Bezee Mejel Al-Gaood v Innospec Ltd.Continue Reading

Will GPT be the SFO’s next BAE?

The Financial Times reported Friday that anti-corruption groups, (Global Witness, Transparency International and Corruption Watch) had written to the Prime Minister and the Director of the Serious Fraud Office raising concerns about the integrity of the SFO’s investigation into the sale by GPT Special Project Management, an Airbus subsidiary, of communications equipment to the Saudi National Guard.… Continue Reading

UK online betting threatens the Beautiful Game

The boom in UK-online gambling will come as no surprise to those irritated by betting adverts interrupting major televised sporting events. Not surprisingly, and to the consternation of offshore online gambling jurisdictions, the UK government has sought to cash in on this licensed vice by introducing a remote gambling point of consumption duty for all wagers placed within the UK.… Continue Reading

Does an under-funded SFO violate UNCAC?

Bloomberg reported this week that an informed but unidentified and unauthorized person, presumably not the director, had revealed that the Serious Fraud Office was preparing to ask the UK’s Treasury to supplement its annual budget of $37 million by more than 50 per cent in connection with its investigation of market-rigging and bribery allegations.Continue Reading

A look behind the proposal to expand Bribery Act coverage to financial crimes

David Green QC, Director of the UK Serious Fraud OfficeIn his third report to the Cambridge Symposium on September 2, the Director of the SFO suggested that the proposal to amend s.7 of the Bribery Act 2010 to cover financial crimes was “gaining traction.”

He said,

I will also continue to speak in favour of amendment of S7 of the Bribery Act to create the offence of a company failing to prevent acts of financial crime by its associated persons.

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UK courts rule on secret commissions and recovering profits

Recovering profits from accessories of bribe beneficiaries and secret commissions were respectively considered in two recent UK appellate decisions, one released earlier this month and another on Wednesday.

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The first case, which came before the Court of Appeal, opens with a somewhat bemusing reference to the first instance of bribery in classical times:

When Odysseus penetrated the underworld, he encountered, among many other ghosts, that of Eriphyle whom Homer (Od.

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New EU regime for statutory audits

A new EU-regime for statutory audits came into force on June 16, 2014. Although the new framework applies to all statutory audits, the most significant reforms relate to public interest entities (PIEs) which include listed companies, credit institutions, insurance undertakings and potentially other nationally designated entities (with significant public relevance on account of type, size and number of employees).… Continue Reading