Recently a trend toward state court review of arbitral awards has emerged, especially when criminal activity is alleged, and no matter what side of the debate you are on, there’s no denying a change is afoot. … Continue Reading
The Geneva-based private banking unit of HSBC entered into France’s first deferred prosecution agreement Tuesday under the country’s new anti-corruption regime.
HSBC helped French clients evade local taxes and launder money, the DPA said.… Continue Reading
Société Générale said in a disclosure Monday that it is under investigation in France for possible violations of French anti-corruption law and in the United States for Foreign Corrupt Practices Act offenses.… Continue Reading
A French court last week convicted Teodoro Nguema Obiang Mangue, the vice president of Equatorial Guinea and son of the president, of embezzling public money and spending it on himself.
The judge confiscated all of Obiang’s assets in France, fined him €30 million ($35 million), and gave him a suspended three-year prison sentence.… Continue Reading
Airbus Group SE, already under investigation in the UK and France for suspected corruption, said in a company release Tuesday that it found “inaccuracies in filings” made with the U.S. Department of State under the International Traffic in Arms Regulations.… Continue Reading
In December 2016, France enacted an anti-corruption law known as Sapin II. The law was named after Michel Sapin, the then Minister of Finance, who said when presenting the bill: “In the fight against corruption, France cannot just satisfy itself with the existing situation.”… Continue Reading
How far is it feasible to apply a global compliance policy in widely differing regional markets? And to what extent should there be local policy exceptions?
In Control Risks’ 2017 International Business Attitudes to Compliance survey, a majority of respondents (55 percent) say that their global compliance policy applies worldwide, without any local exceptions.… Continue Reading
The son of Equatorial Guinea’s president went on trial this week in France for embezzling more than $112 million from his country’s treasury.
Teodoro Nguema Obiang Mangue, also known as Teddy Obiang, is the second vice president of Equatorial Guinea.… Continue Reading
Until a few years ago, corporate decision-makers often worried that knowledge about their company’s human rights impacts may increase risks of litigation, prosecution and investment withdrawal.
Recent developments are shifting the debate in the opposite direction, with corporate counsel now pushing for more proactive knowledge-gathering and transparency.… Continue Reading
Airbus Group SE said Thursday that French investigators have opened a preliminary investigation into allegations of fraud, bribery, and corruption in the company’s civil aviation business.
France’s financial crimes investigator — the Parquet National Financier — is investigating the same allegations already being probed by the UK Serious Fraud Office.… Continue Reading
While companies like to view Europe as a single market when it comes to compliance, the reality is that each country still has its own unique challenges and expectations. Ethisphere recently connected with dozens of French compliance leaders to discuss today’s best practices across France.… Continue Reading
After a lengthy legislative process between the National Assembly and the Senate, Sapin II, the French anti-corruption law focused on transparency and modernization of economic activity, was passed, in its final form, by the National Assembly on November 8, with a majority vote of 308 to 171.… Continue Reading