Tag Archive for: anti-corruption

Not Whether But When

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The country is experiencing a unique period in its history.  After being largely frozen in time since the Revolution, it’s clear that change is coming and likely coming fast.

Lessons from Singapore

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“I had never seen an ad about anti-corruption while taking public transport – until last week in Singapore.”

How to Make Your Core Values Stick

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The values of your organization are what support your vision for your business and create its unique culture. They are also directly tied to your recruitment and retention strategies, and should guide your day-to-day business practices.

 

'Red flags' that signal companies at risk of a corporate scandal

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Scandals such as VW’s “dieselgate”, bankers rigging interest rates and Tesco’s accounting black hole will not be prevented by hitting business with tighter regulation, according to a new report.

 

‘Tis the Season to Revisit Gift-giving Policies and Procedures

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During holidays and throughout the year, organizations should consider revisiting their policies and procedures related to gift giving, as opportunities for corruption abound.

Holding Corporate Officers Accountable: Challenges for the Justice Department’s FCPA

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When senior government prosecutors discuss their white collar enforcement priorities, the prosecution of individuals frequently tops their list. Last fall, the Deputy Attorney General ordered all federal prosecutors to prioritize prosecutions of individuals accountable for corporate misconduct, and she made corporations’ ability to receive cooperation credit in criminal settlement agreements contingent upon the corporation providing “all relevant facts about the individuals involved in the corporate misconduct.”

Vietnam: Important Changes under the New Penal Code

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On 27 November 2015, the National Assembly adopted the new Penal Code (the “New Penal Code”). The New Penal Code will take effect on 1 July 2016 and repeal the current Penal Code, which was issued in 1999 and amended in 2009 (the “Current Penal Code“).

Pharmaceutical Industry Under U.S. Anti-Corruption Regulatory Spotlight

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At the annual “SEC Speaks” conference on February 19, 2016 in Washington, DC, the head of the SEC’s FCPA Unit, Kara Brockmeyer, warned pharmaceutical companies that their industry will be under renewed scrutiny in 2016.  She said the SEC “is going back to the pharma industry after a break for a period of years.”  Brockmeyer also highlighted increased international cooperation that will make government enforcement easier going forward.

Cooperation between Laos and South Korea to combat money laundering and terrorism-financing

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On 16 December 2015, the Anti-Money Laundering Intelligence Unit (“AMLIU”) under the Bank of the Lao PDR and the Korea Financial Intelligence Unit (“KOFIU”) signed a memorandum of understanding with regards to anti-money laundering and combatting the financing of terrorism (“AML/CFT”).

Proposed Amendments to the PRC Anti-Unfair Competition Law Provide Greater Clarity on Commercial Bribery and Impose Tougher Sanctions

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Notably, the Draft Amendments introduce new definitions, enhanced enforcement measures and tougher sanctions to regulate commercial bribery, which echoes the ongoing corruption sweep in China. The Draft Amendments signal the Chinese government’s intention to further tighten their stance on tackling commercial bribery.