New anti-corruption legislation adopted Tuesday by France allows companies to enter into negotiated settlements with magistrates.
For more than a year, France has been working on improving its legislation to enact a new anti-corruption law in order to reach the same standards as the FCPA, the UK Bribery Act or the Brazilian Clean Company Act.… Continue Reading
France is the latest nation to join the anti-corruption fray, working to finalize a new law to fight corruption, foster transparency and modernize economic activity.
The proposed law — Sapin II — has eight main articles focused on the prevention of corruption and additional protections for whistleblowers, among other topics.… Continue Reading
A basic design principle for sanctions regimes is that crime should not pay. Yet, the OECD has just released a simulation study showing that foreign bribery can be an attractive investment for companies in many jurisdictions.… Continue Reading
A good friend of mine who ended his career as a very senior police officer once gave me an excellent piece of advice. He told me that anyone can manage an organization when things are going well — it is when things become difficult that true leaders emerge.… Continue Reading
A recent paper I published in the Journal of Money Laundering Control looks at a prominent series of cases brought by the United States and France against assets owned by Teodoro Nguema Obiang, Second Vice President of the Republic of Equatorial Guinea and son of the country’s president.… Continue Reading
The French bill for Transparency and Modernization of Economic Life, which, among other things, aims at preventing foreign bribery and intensifying the fight against it, has been the subject of much speculation during the past few months.… Continue Reading
The Egmont Group — Financial Intelligence Units from 151 jurisdictions, with 19 other observer organizations — issued its latest Communiqué from its meeting in Monaco last week, targeting terrorist financing.
The Egmont Group, founded in 1995, is used by enforcement agencies to share information and help each other develop evidence to prosecute financial crimes, such as money laundering, tax evasion, and graft.… Continue Reading
Effective speak-up or whistleblowing hotlines are an element of good governance and can act as an early warning system. But while most large companies have a formal mechanism where employees can voice concerns, our 2015 Ethics at Work survey shows that employees don’t have confidence in the system.… Continue Reading
In July, a new law against corruption was announced to be submitted to the French ministers council in the fall, to debate it at the Parliament in early 2016. Winter is coming; still nothing.… Continue Reading
French bank Crédit Agricole will pay $787 million and hire an independent monitor after violating U.S. sanctions against Sudan, Iran, Myanmar, and Cuba between 2003 and 2008.
The bank will also fire a managing director involved in the violations of U.S.… Continue Reading