News and commentary about white-collar crime, enforcement, and compliance
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
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Apple published its annual Conflict Minerals Reports last week that said the company is reviewing information about alleged activities involving the Democratic Republic of the Congo that include bribery and illegal payments.… Continue Reading
The World Bank debarred a Slovenia-based infrastructure services firm Wednesday for making corrupt payments in connection with a project in the Democratic Republic of the Congo.
Flycom d.o.o. was debarred for 18 months after it engaged in “corrupt practices under the Southern Africa Power Market Project,” the World Bank said.… Continue Reading
Four companies from the mining sector have disclosed open FCPA-related investigations.
One company first disclosed an investigation this week. The other companies first disclosed investigations in 2016, 2015, and 2013.
Two of the companies are based in the UK, one in Canada, and the other in Switzerland.… Continue Reading
In a one-sentence order Wednesday, the U.S. Court of Appeals for D.C. denied the National Association of Manufacturer’s (NAM’s) emergency motion to stay enforcement of the SEC’s conflict minerals.
The court’s order was returned the day after NAM filed its reply to the SEC’s brief in the matter, requesting relief from the entire rule’s application.… Continue Reading
The four conflict minerals — tantalum, tin, tungsten and gold
This post is the second in a series of three on the topic of conflict minerals.
The first post examined the origins of the reporting requirement, and this installment will explore what constitutes sufficient due diligence in an investigation of a company and its supply chain.… Continue Reading
Apple will begin publishing names of suppliers every quarter showing whether they have verified the source of the minerals they use.
The company said in its latest Supplier Responsibility Progress Report released Thursday it will also publish names of suppliers and audit results covering compliance with labour standards and environmental use and impact.… Continue Reading
Fifteen countries currently at war against an external enemy or internal insurrection have an average ranking on the corruption perceptions index of 150 (the cpi ranks 175 countries). Two of them — Somalia and Afghanistan — are tied for last place at 175.… Continue Reading
Since discovering oil in 2009, Uganda has not pumped a single barrel and the resource remains unexploited. An historic opportunity has so far been stymied by bureaucracy, law suits, corruption, hostilities with neighbors taking on a military hue, as well as the lack of adequate infrastructure to move the oil to market.… Continue Reading
On a tarmac at Congo’s Goma Airport, customs agents seized a Gulfstream jet with millions of dollars in cash on board. Bricks of tightly-packed hundred-dollar bills were strewn about the cabin.… Continue Reading
Apple’s late CEO Steve Jobs was asked about his company’s use of conflict minerals. Jobs responded to Derick Rhodes of Wired right away.
Here’s their June 2010 email exchange:
* * *
… Continue ReadingHi Steve,
I’d planned to buy a new iPhone [4] tomorrow – my first upgrade since buying the very first version on the first day of its release – but I’m hesitant without knowing Apple’s position on sourcing the minerals in its products.
Under the SEC’s new 356-page conflict minerals rule, reporting companies must now disclose their use of tantalum, tin, gold, or tungsten mined in the Democratic Republic of the Congo or a contiguous country.… Continue Reading