New York’s Department of Financial Services fined Barclays Bank PLC and its New York branch $15 million Tuesday because of attempts by the bank’s CEO, Jes Staley, to unmask a whistleblower “in contravention of Barclays’ established whistleblowing policies and procedures.” … Continue Reading
Two former senior executives of U.S.-based Panasonic Avionics Corporation settled SEC charges Tuesday related to FCPA offenses that Panasonic Corporation and the U.S. aviation unit settled earlier this year.
Paul A.… Continue Reading
The SEC reminded foreign issuers on December 10 that accounting misdeeds not only constitute securities fraud, they can violate the Foreign Corrupt Practices Act.
In an enforcement action that did not involve bribery of any kind, the SEC charged Agria Corporation, a Cayman Islands company headquartered in Hong Kong, with securities fraud for failure to properly value gains and losses in a transaction with an affiliated company in mainland China.… Continue Reading
The accounting industry is bracing for its new role as accountants are increasingly seen as an important part of the anti-corruption efforts in the private sector of Azerbaijan.… Continue Reading
The recent Cobham Holdings Inc. OFAC settlement highlights a limitation in due diligence software: Cobham’s screening partner ran a name through a database and received no hits.
The name was later found to be a variation of a hit from the OFAC sanctions list, but wasn’t picked up due to the limitations of the search parameters. … Continue Reading
Whenever I hear about an FCPA sentencing that involves time in federal prison, I think of the day in July 2012 when I faced the judge and learned my fate.
I recall so clearly the anxiety of standing before Judge Richard Leon in DC, knowing that before I left the courtroom a sentence would be pronounced which would have life changing consequences. … Continue Reading
Employer: Heron Therapeutics, Inc.
Location: San Diego, California USA
Description: This position supports the compliance function and will be responsible for assisting in the development, execution and continuous improvement of the compliance program to ensure compliance with all applicable standards, laws, and regulations, including without limitation the U.S.… Continue Reading
The ICC Netherlands launched its new book “Integrity, A Valuable Proposition” at the International Integrity & Anti-Corruption Conference earlier this month. The book discusses the state of affairs of integrity and accountability in both the public and private sector, and the continuous dialogue and development.… Continue Reading
A former sales executive of Embraer SA was sentenced Wednesday to time served and fined $25,000 for paying a bribe to help sell jets to the giant oil company, Saudi Aramco.… Continue Reading
In December 2012, a payment processing company based in Johannesburg called Net 1 UEPS Technologies, Inc. disclosed some bad news. The DOJ and SEC had launched FCPA investigations.
The feds wanted to know if Net1 paid bribes to win a contract from the South Africa Social Security Agency (SASSA).… Continue Reading
Reuters reports that a number of former Australian judges have sent an open letter to Prime Minister Scott Morrison, calling for the establishment of a national anti-corruption body.
They believe that such a body would go some way to restoring public trust in the country’s democratic process.… Continue Reading
Identification of foreign PEPs can be a nightmare for financial institutions and other service providers. It is hard to do proper customer due diligence due to the lack of official lists of PEPs and publicly accessible reliable information about their assets.… Continue Reading