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Tesla ex-employees file SEC whistleblower complaints - Creditors of Bhushan Steel stand to lose even after resolution - Antitrust Watchdog Okays Robinsons-Rustan Deal - And More
8/23/2018 8:37:00 AM

 

 

Tesla ex-employees file SEC whistleblower complaints

On Aug. 20, FOXBusiness reported, “Aside from an SEC investigation into [Elon] Musk’s tweets about going private, two former employees recently filed whistleblower complaints with the Securities and Exchange Commission against the electric car company over potential securities violations, an attorney representing the two workers told FOX Business on Monday. A former Tesla employee, Martin Tripp, alleged he was fired last month for publicly raising concerns over the conditions at one of the company’s ‘gigafactories.’”

 

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Creditors of Bhushan Steel stand to lose even after resolution

On Aug. 20, The Hindu Business Line reported, “The resolution plan for the debt-ridden Bhushan Steel Ltd is in place with Tata Steel willing to acquire the former for ₹35,000 crore, but the question of who will pay ₹20,000 crore to the creditor remains, according to sources in the Ministry for Corporate Affairs. This, according to them, is the trigger for action taken by the Serious Fraud Investigation Office (SFIO). … The SFIO arrested Neeraj Singal, Managing Director of Bhushan Steel, on August 8, for indulging in serious corporate fraud. The arrest was made as a part of the investigation into the affairs of Bhushan Steel and its several Group Companies by the SFIO.”

 

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Antitrust Watchdog Okays Robinsons-Rustan Deal

On Aug. 20, BusinessNewsph (Philippines) reported, “The Philippine Competition Commission (PCC), the country’s antitrust watchdog, has approved the acquisition by Robinsons Retail Holdings, Inc. (RRHI) of a 100-per cent stake in Rustan Supercenters, Inc. (RSCI) from Mulgrave Corporation B.V (MCBV). MCBV is a wholly-owned member of the Dairy Farm International Holdings, Ltd. Group of companies. Robinsons Retail is owned by the Gokongweis, the Philippines’ second richest family. It operates over 3,500 retail formats, including supermarkets, department stores, drugstores, international fashion and beauty specialty store, and specialty coffee shops.”

 

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Australia only has 7 percent of the cybersecurity expertise that it needs

On Aug. 20, CSO Online reported, “The introduction of the notifiable data breaches (NDB) scheme and EU general data protection regulation (GDPR) more than tripled demand for cybersecurity specialists between February and June this year, according to a review of job openings that suggests Australia only has 7 percent of the cybersecurity skills it needs. … Despite an expanding job market overall, the scarcity of suitable skills was exacerbating an already difficult security climate: ‘Protection against cyber threats is a key focus for many organisations,’ Job-ad site Indeed noted, ‘as every type of organisation needs qualified staff with the skills and experience to mitigate against risks posed by cyber criminals. The problem is that cybersecurity professionals – who combine broad technical skills with specific security expertise and an understanding of business risk – are becoming much harder to find.’”

 

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'It's callous': Whistleblower accuses Perth aged care workers of elder abuse

On Aug. 20, The Canberra Times reported, “The federal aged care minister has urged anyone with concerns about the state’s aged care system to speak up after an anonymous whistleblower alleged patients at two facilities south of Perth could be at risk of elder abuse. Using an alias, John called into 6PR’s Jane Marwick on Sunday and said he was looking to report two care workers based on what his partner and friend, who both work in the system but are too afraid to come forward, told him.”

 

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Ex-Navy officer faces bribery, fraud charges in ‘Fat Leonard’ scandal

On Aug. 18, Honolulu Star Advertiser reported, “A retired Navy captain[, David W. Haas,] who lives in Kailua was indicted on federal charges Thursday that he received at least $145,000 in bribes from foreign defense contractor Leonard Francis [involving Francis’ company, Glenn Defense Marine Asia] … According to the indictment, Haas used his influence to steer ships to Glenn Defense-controlled ports and otherwise advance Francis’ interests.”

 

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Güralp Systems founder and former Managing Director charged with corruption over South Korea contracts

On Aug. 17, Serious Fraud Office (U.K.) reported, “Dr Cansun, Guralp founder and Andrew Bell, Managing Director, both formerly employed by Güralp Systems Limited, will appear at Westminster Magistrates’ Court on Monday, 20th August 2018. The two men have both been charged by requisition, with conspiracy to make corrupt payments contrary to Section 1 of the Criminal Law Act 1977 and Section 1 of the Prevention of Corruption Act 1906. The SFO alleges that the two men conspired to corruptly make payments to a public official and employee of the Korea Institute of Geoscience and Mineral Resources (KIGAM).”

 

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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.