The Securities and Exchange Commission said Monday it sanctioned two former employees in the Dubai office of a U.S.-based defense contractor for violating the Foreign Corrupt Practices Act by taking government officials in Saudi Arabia on a “world tour” to help win business for the company.… Continue Reading
Posts Tagged: Gift Giving
Discipline authorities at Jingbian County of northwestern China’s Shaanxi province have launched investigations into more than 40 local government officials who have been implicated in an alleged “bribery list” scandal.
A gift list which surfaced online recently claimed that the owner of a local karaoke room, Wang Hong, had bribed local officials with gifts worth over 100,000 yuan ($16,300).… Continue Reading
Draft amendments to China’s Criminal Law currently under consideration would subject government officials who receive certain money or property to criminal penalties.
The current version of China’s Criminal Law prohibits government officials from receiving “money or property” (财物) — or other parties from providing money or property to officials — only when an official takes advantage of one’s position to solicit money or property from others, or illegally accepts money or property from others, in order to seek “benefits” for others (see Articles 385 and 388). … Continue Reading
The compliance profession has for years been beset by a debate with the outside world over the position of Chief Compliance and Ethics Officer (CECO). Should the CECO be part of the law department reporting to the general counsel?… Continue Reading
Discipline authorities in north-central China’s Shanxi province have launched an investigation into a subsidiary of China Coal Energy Company Limited, following allegations it offered gifts and cash worth 1.63 million yuan ($263,098) to local government officials during the Mid-Autumn Festival last year.… Continue Reading
Why do corporations, law firms, and governments worldwide use the ethiXbase GRC Database?
The world’s largest specialized anti-bribery database provides access to global anti-corruption legislation, gift-giving rules, and breaking investigations and enforcement actions worldwide.… Continue Reading
It’s that time of year again. Across the country, law students are thinking about paper topics for seminar courses and journal notes. Like last year, I am posting a list of resources that I provide to students every fall in the Anti-Corruption seminar that I co-teach with my colleague, Professor Chris Yukins. … Continue Reading
Here’s a disclosure by Wynn Resorts from its Form 8-K filed with the SEC earlier this month:
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On February 13, 2012, Wynn Resorts, Limited (the “Company”) filed a Report on Form 8-K disclosing that it had received a letter from the Salt Lake Regional Office (the “Office”) of the Securities and Exchange Commission (the “SEC”) advising the Company that the Office had commenced an informal inquiry with respect to certain matters, including a donation by Wynn Macau, Limited, an affiliate of the Company, to the University of Macau Development Foundation.
Here’s a summary from ethiXbase of the gift-giving rules for public employees in Nigeria:
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Gift-giving legislation can be found in The Corrupt Practices and other Related Offences Act 2000, 2000 Act No 5, Laws of the Federation of Nigeria and the Constitution of the Federal Republic of Nigeria, 1999, Fifth Schedule.