News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
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
Shruti J. Shah
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Bill Steinman
Contributing Editor
Nearly a third of employees in Singapore were aware of misconduct at work during the past year but many of them didn’t report it to management.… Continue Reading
Like all EU states, Portugal is seeking to manage the thorny question of managing and recording Ultimate Beneficial Owner (UBO) information, as part of its obligations under Chapter III of EU Directive 2015/849.… Continue Reading
The new chief of the regulator of the financial services industry in the United Kingdom is a former corporate finance partner at magic circle firm Slaughter and May.
Charles Randell was named chair of the Financial Conduct Authority on Friday.… Continue Reading
Image courtesy of General Cable Kentucky-based General Cable Corporation said it reserved $24 million that’s “likely to be disgorged” to the SEC in a possible settlement of FCPA offenses.
In a securities filing Wednesday, the company said the $24 million is the amount of profit it made from bribe-tainted sales in Angola.… Continue Reading
Portugal’s former prime minister was detained at the Lisbon airport for questioning on November 21 and three days later was taken into custody for suspected tax fraud, money laundering, and corruption.… Continue Reading
There still seems to be some debate as to whether the FCPA, the UK Bribery Act, and other international focused anti-bribery legislation aids in the fight against terrorism. But the continuum from corruption to crime to terrorism is well-established and arguing that laws such as the FCPA have no place in a country’s overall security regime seems to be me to be naive at best.… Continue Reading
Kentucky-based General Cable Corporation said in an SEC filing Monday that it is investigating “certain commission payments involving sales to customers” in Angola, and the way the payments were reflected in the company’s books and records.… Continue Reading
The publication last week of the EU’s first corruption monitoring report, with biennial ones to follow, highlights a striking disparity between its 28 members in tackling corruption.
Corruption is defined as “the abuse of power for private gain,” and the report estimates that the cost of corruption (€120 billion) almost equates to the EU’s annual budget.… Continue Reading
A new report released by Transparency International Wednesday linked corruption in Europe with debt problems there. Greece, Spain, and Portugal were named as economies most threatened by graft and debt.
The Wall Street Journal quoted Finn Heinrich, TI’s research director, as saying: ‘The reasons for the [debt] crisis differ from country to country, but countries that are worst hit by the crisis are also those where corruption is most pervasive and where there’s a lack of integrity in the public system.’… Continue Reading
Corruption problems underlie the Greek debt crisis and may prevent an economic recovery, according to a new study by Transparency International.
TI-Greece’s ‘National Integrity System assessment’ found that 98% of Greeks believe corruption is a major problem in their country and 88% think bribery is part of the business culture.… Continue Reading
Miller and Chevalier’s FCPA Winter Review 2012 (here) noted a couple of significant enforcement actions in Europe in late 2011.
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A regional court in Munich imposed a €140 million fine on Ferrostaal AG.… Continue Reading