As kids we envision it over and over: we score the goal, the crowd roars, our teammates carry us off the field. In Chicago or Pittsburgh or Dallas, the ball is thrown and caught; in Mexico City and Nairobi and São Paulo, it’s kicked.… Continue Reading
Two separate piles of BRICs? Is that where we’re headed?
Recent events should make us wonder. One the one hand lie China and Russia. Both countries in the last year have enacted statutes prohibiting the bribing of overseas officials.… Continue Reading
Wal-mart reporting has shone a spotlight on endemic corruption in Latin America. But although Mexico now dominates the headlines, that country is neither Latin America’s biggest economy nor its most urgent corruption story.… Continue Reading
We’ve seen, in our last two posts in this series (here and here), a radical new enforcement idea starting to take root — using at least some portion of the enforcement proceeds to directly benefit the citizens of the countries in which the bribery occurred.… Continue Reading
Last post, I discussed the proposal from Nigeria’s Social-Economic Rights and Accountability Project to establish a mechanism for using the proceeds of FCPA settlements to help bribery victims. Specifically, SERAP suggests that civil penalty or disgorgement proceeds be made available to civil-society groups in the victimized country, or to U.S.-based… Continue Reading
Yesterday, Benjamin Kessler wrote a stirring defense of what he called “one of the most altruistic FCPA amendments yet proposed:” adopting a system to share the proceeds of FCPA settlements with the victims of bribery.… Continue Reading
Long before the agencies have closed this enforcement action, the market doled out its own unique kind of punishment yesterday. Wal-Mart’s stock value declined by almost 5%, reducing the company’s market capitalization by no less than $10 billion.… Continue Reading