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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

World Bank report is ‘a great piece of work’

The World Bank’s excellent publication Left out of the Bargain — Settlements in Foreign Bribery Cases and Implications for Asset Recovery (available here in pdf) highlights the thorny issue of how international anti-corruption enforcement can best repatriate tainted assets and proceeds to the victim countries in line with Chapter 5 of United Nations Convention against Corruption.… Continue Reading

OECD should protect against multi-country enforcement

Claiming international anti-corruption related fines, losses and profits will increasingly become a live issue as countries seek to enforce their own domestic and international anti-corruption laws.

Historically, the USA’s anti-corruption agencies have been able to extract large fines and disgorgements from perpetrators with fairly remote U.S.-connections… Continue Reading

This should be easy: In England, what’s a bribe?

One of the benefits, apart from the foreign earnings, of  London’s court clogging Russian litigation, has been the collation of principles relating to the English civil law of bribery which can be summarized as follows:

The underlying substantive and remedial policies behind protecting a principal against bribes is an agent’s obligation to act in the best interests of its principal and to avoid a real possibility of potential conflict.

Continue Reading

UK forgets ethics, mulls whistleblower rewards

The recent announcement that the U.K.’s legislature and enforcement agencies are considering the case for financially incentivizing whistleblowers in economic crime cases, thus aping the U.S.-approach, presents a serious and insidious threat for U.K.… Continue Reading

Who then is a UK independent director?

A peer level board compliance committee, headed by a senior independent non-executive director with a majority of independent non-executive directors, should be a prerequisite for any company seeking to establish that it has put in place adequate precautions to prevent bribery.… Continue Reading

What’s expected from UK independent directors?

Effective independent non-executive directors are expected to provide high-quality, objective oversight and scrutiny of a listed company’s strategy and the performance of its executive management. By being removed from the immediate commercial pressures of executive management, they are an essential component for ensuring effective corporate governance and compliance.… Continue Reading

Why no alarm bells back home over SEC Gold Fields probe?

Listing shares internationally often carries unwelcome regulatory and compliance risks. This was recently highlighted by the SFO’s corruption probe into the London-listed Kazakh miner ENRC, shortly to be delisted, as well as probes into Indonesia miner and London-listed Bumi plc, and most recently by the SEC’s investigation of South Africa’s Gold Fields, which has a secondary New York listing.… Continue Reading

And now, due diligence on your due diligence (for real)

An interesting face-off is currently taking place between the UK’s Parliamentary Home Office Affairs Committee, chaired by Keith Vaz, and the Serious Organised Crime Agency “SOCA” over the latter’s failure to publish a list of 92 institutions, firms, celebrities and companies who have allegedly obtained illegal private information from rogue private investigators.… Continue Reading

U.K. Supremes dish on judicial corruption

The recent decision of the UK Supreme Court in Kapri v Government of Albania [2013] UKSC 48 highlights the issue of systemic corruption in some national judicial systems.

The only successful ground of appeal concerned the issue of whether extradition should be refused where there would be a flagrant denial of a fair trial by reason of a systemically corrupt judicial system.… Continue Reading