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Singapore cybersecurity agency touts data governance amid growing threat risk - ASUS slapped with antitrust fine for price fixing - $2tn bribery and corruption industry needs tougher engagement - And More
7/26/2018 11:00:00 AM

 

 

Singapore cybersecurity agency touts data governance amid growing threat risk

On July 25, ZDNet.com reported, “With cybersecurity threats growing, the onus is on organisations to safeguard customer data and for governments to ensure data violations are taken seriously. This meant that data governance and regulations were critical in building a robust cybersecurity framework, said Ng Hoo Ming, deputy chief executive of operations at Singapore's Cyber Security Agency (CSA), during his keynote Wednesday at the RSA Conference Asia-Pacific Japan. … His comments followed last week's security breach that compromised personal data of 1.5 million SingHealth patients, in what was described by authorities as a ‘deliberate, targeted, and well-planned’ attack.”

 

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ASUS slapped with antitrust fine for price fixing

On July 25, MCV Newsletter reported, “Asus has been slapped with a hefty fine by the European Commission after the company was revealed to be engaged in online price fixing, a breach of European Antitrust law. Asus picked up a fine for over €63 million, while PCGN reports Denon & Marantz, Philips and Pioneer were also handed fines for unconnected offences that were similar.”

 

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$2tn bribery and corruption industry needs tougher engagement

On July 25, Financial Times reported, “Corruption is said to take $1.5tn to $2tn out of the global economy each year, equivalent to 2 per cent of world gross domestic product. Money siphoned off in bribes and the consequent lost tax revenue has corrosive results, including stunted growth and employment, and sustained poverty. It also skews performance so that companies achieve success by being good at bribery rather than good operators.

Despite substantial improvements to corporate behaviour, corruption is still a major challenge to sustainable development.”

 

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Tesla whistleblower to meet with SEC, attorney says

On July 25, CNBC reported, “Tesla whistleblower Martin Tripp — who CEO Elon Musk characterized as a saboteur and disgruntled ex-employee — is slated to meet with the U.S. Securities and Exchange Commission, his attorney Stuart Meissner told CNBC. … In his complaint with the commission, Tripp alleges that Tesla has made several ‘material omissions and misstatements’ to investors and taken steps that potentially compromised the safety of its customers.”

 

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Antitrust watchdog approves 3 mergers and acquisitions

On July 25, ABS-CBN News reported, “The Philippine Competition Commission said Wednesday it approved 3 mergers and acquisitions. These include Ayala Land unit Alveo Corp's acquisition of Antel Land Holdings' 1.3-hectare land and assets in Makati City, including events space A.Venue, the PCC said.

The competition watchdog said it also approved the joint venture between luxury developer Century Properties Group and Mitsubishi Japan Corp.”

 

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Alabama Coal Executive and Lawyer Are Guilty of Bribing Politician Over Pollution Cleanup

On July 24, The New York Times reported, “A coal company executive and a lawyer have been convicted in federal court of bribing an Alabama lawmaker to oppose Environmental Protection Agency plans that could have made the company help pay to clean up a polluted Superfund site. David L. Roberson, 67, a vice president at the Drummond Company, based in Birmingham, and Joel I. Gilbert, 46, a lawyer who worked for the coal company, were convicted late on Friday by a jury in District Court for the Northern District of Alabama, the Justice Department said on Monday. The men were found guilty of bribing a former state representative, Oliver L. Robinson Jr., to oppose plans by the E.P.A. to place a polluted site in north Birmingham on a priority list, which could have made Drummond liable for tens of millions of dollars in cleanup costs and fines, the Justice Department said.”

 

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Ex-senior education ministry official indicted in bribery case

On July 24, The Mainichi reported, “A former senior education ministry official was indicted Tuesday for accepting an effective bribe from a private university last year in return for helping it win a government subsidy. Futoshi Sano, 59-year-old former director general of the ministry's Science and Technology Policy Bureau, is suspected of accepting an assurance of his son's enrollment in Tokyo Medical University.”

 

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Legal experts say new SEC rule will hurt whistleblower program

On July 24, International Investment reported, “SEC is under fire from legal experts after it put forward a number of amendments to the whistleblower program that caps the reward for those willing to disclose corporate fraud to the authorities. The Washington DC-based whistleblower protection law firm, Kohn, Kohn & Colapinto (KKC), filed a 27-page letter with the Securities and Exchange Commission (SEC) challenging the proposed legislation. The new rules would potentially limit the size of awards that whistleblowers are entitled to.”

 

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The Complete Compliance and Ethics Manual - 2018

The Complete Compliance and Ethics Manual — 2018

 

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Workplace Investigations: Techniques and Strategies for Investigators and Compliance Officers

Workplace Investigations: Techniques and Strategies for Investigators and Compliance Officers

 

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Articles on the Ethics and Compliance Environment
The Society of Corporate Compliance and Ethics provides this library of articles, insight into current issues, the regulatory environment, and other items of interest to our members.