Top Color:
Main Color:
Bottom Color:
Header Image:
  • background1
  • background2
  • background3
  • background4
  • background5
  • background6
  • background7
  • background8
  • background9
Layout Style:
  • Wide
  • Boxed
SCCEnet Facebook Twitter LinkedIn Youtube Pinterest
You are here : Resources  >  View
United States: Second Circuit Limits Government's Ability To Prosecute Foreign Persons And Companies For Conspiracy To Violate The FCPA - More trouble likely for Neeraj Singal as ED steps in - Swiss watchdog to propose looser anti-money laundering rules for fintechs - And More
8/30/2018 8:46:00 AM

 

 

United States: Second Circuit Limits Government's Ability To Prosecute Foreign Persons And Companies For Conspiracy To Violate The FCPA

On Aug. 29, Mondaq reported, “On August 24, 2018, the United States Court of Appeals for the Second Circuit issued a significant ruling regarding the reach of the U.S. Foreign Corrupt Practices Act (FCPA) over foreign companies and individuals in United States v. Hoskins, No. 16-CR-1010 (2d Cir. Aug. 24, 2018). In the first appellate court decision to address the question, the Second Circuit held that a nonresident foreign national, who is acting entirely outside the United States and who is not an employee or agent of an American company, cannot be prosecuted for violating the FCPA on a theory of conspiracy or accessory liability. These theories of liability have been effective prosecutorial tools in FCPA negotiated resolutions for many years because they do not require that the government prove that the defendant physically entered the United States or was otherwise covered by the FCPA. By substantially limiting the cases where these charges are available, the Second Circuit decision dealt a significant setback to prosecutors seeking expansive theories on which to build an FCPA case against non-U.S. companies and individuals.”

 

Read More

 

 

More trouble likely for Neeraj Singal as ED steps in

On Aug. 29, The Economic Times reported, “More trouble may be in the offing for Bhushan Steel’s erstwhile promoter Neeraj Singal as the Enforcement Directorate (ED) will examine the case registered against Singal by the Serious Fraud Investigation Office (SFIO). … Singal stands arrested by SFIO for allegedly siphoning off funds worth over Rs 20 billion. … SFIO had said that Singal’s arrest was made as part of the investigation into the affairs of Bhushan Steel Ltd (BSL) and its several group companies. The probe was assigned by the Ministry of Corporate Affairs to SFIO based on the complaints received from various sources.”

 

Read More

 

 

Swiss watchdog to propose looser anti-money laundering rules for fintechs

On Aug. 28, Reuters reported, “Swiss financial regulator FINMA is planning to loosen anti-money laundering rules for smaller financial technology firms, part of a drive to boost innovation and shore up the country’s position as a leading money management hub. The revisions, prompted by a new ‘fintech’ licensing category carved out by the Swiss parliament in June, will clarify how non-banks applying for the new license must ensure due diligence.”

 

Read More

 

 

CSOs petition EFCC on alleged corrupt practices by foreign contractors

On Aug. 28, The Eagle Online (Nigeria) reported, “Connected Development in collaboration with the Nigerian Young Professionals Forum on Tuesday submitted a petition to the Economic and Financial Crimes Commission on alleged corrupt practices by some foreign contractors. … They are requesting for presidential inquisition into the engineering, procurement and construction of the Total Egina Floating Production Storage Offloading to EFCC. The News Agency of Nigeria reports that the petition was requesting the EFCC to investigate the alleged corrupt practices by Samsung Heavy Industries, the contractor involved in the matter. NAN also reports that the CSOs had recently expressed worry over the preference of foreign companies to local ones in the awards of contract, especially in the oil and gas sector.”

 

Read More

 

 

Fostering A Culture Of Cybersecurity

On Aug. 28, Forbes reported, “While cybersecurity may be every executive’s job, there is frustration at every level of the corporation while trying to make progress. Ask any gathering of executives on the topic of security and there will be plenty of stories shared about having too much security or not enough. Everyone agrees that security is important. The majority of the friction among the C-suite is about how to translate that sentiment into what a company should do about it.”

 

Read More

 

Register for the Compliance & Ethics Institute | Oct 21-24 in Las Vegas | Learn More >Register for the Compliance & Ethics Institute | Oct 21-24 in Las Vegas | Learn More >

 

Ex-coalition whip grilled for 9th time in bribery probe

On Aug. 28, The Times of Israel reported, “Likud MK David Bitan was questioned by police Tuesday as part of an ongoing investigation into suspicions he accepted hundreds of thousands of shekels in bribes, some of which were allegedly received after he became a member of Knesset. It was Bitan’s ninth questioning by the Lahav 433 national fraud unit’s investigators about the case. … Bitan — who stepped down as coalition whip after it was revealed he was being investigated, but remains a sitting Knesset member — is also likely to be charged with money laundering and tax offenses, the TV news station reported.”

 

Read More

 

 

US officials take action to protect Alaska whistleblower

On Aug. 28, Associated Press reported, “The federal office that protects employees against reprisals for whistleblowing is advocating on behalf of a federal employee in Alaska who complained about the handling of an Arctic offshore lease sale. The U.S. Office of Special Counsel announced Tuesday it's filing a whistleblower retaliation complaint with the Merit Systems Protection Board on behalf of Jeffrey Missal, a regional environmental officer for the Department of the Interior's Bureau of Safety and Environmental Enforcement. Missal was fired after filing a complaint with the Interior Department's inspector general and contending that the department violated environmental regulations to facilitate Arctic oil exploration.”

 

Read More

 

 

Soccer boss's bribery case postponed

On Aug. 28, Sowetan Live (South Africa) reported, “A court case against two men has been rolled over to Wednesday to allow their defense team to verify if there are pending cases or previous convictions. Mpho Mphahlele, 33, and Peter Moutlane, 51, appeared briefly in the Wynburg Magistrate's Court on charges of corruption and extortion after they posed as senior Hawks officials in an attempt to solicit a R600 000 bribe from a well-known soccer boss, Bobby Motaung.”

 

Read More

 

 

Ex-Fiat Chrysler exec gets 5 1½ years in union bribery case

On Aug. 27, ABC News reported, “A former Fiat Chrysler executive was sentenced to 5 ½ years in federal prison Monday in a scheme to curry favor with union officials by buying them expensive gifts. Former head of labor relations Alphons Iacobelli admitted that he turned the budget of a company-sponsored training center into a slush fund. He's the highest-ranking company official sentenced thus far in a federal probe that includes training centers at General Motors and Ford.”

 

Read More

 

Product features

 

The Complete Compliance and Ethics Manual - 2018

The Complete Compliance and Ethics Manual — 2018

 

Learn More

 

 

Workplace Investigations: Techniques and Strategies for Investigators and Compliance Officers

Workplace Investigations: Techniques and Strategies for Investigators and Compliance Officers

 

Learn More

 

Join us for the Board Audit Committee Compliance Conference | Sept. 24-25 in Scottsdale | Buy one registration for $895, get one for only $595 | Learn More >Join us for the Board Audit Committee Compliance Conference | Sept. 24-25 in Scottsdale | Buy one registration for $895, get one for only $595 | Learn More >

 

Become an SCCE member!

Get discounts on events and products! Learn more about the benefits of an SCCE membership.

 

"My friend sent me CCWN, and I like it!"

Do you want to receive the latest corporate compliance world news, too? Subscribe! It’s quick and free!

Questions/feedback?

Please feel free to contact the Corporate Compliance Weekly Newsletter editor, Margaret Martyr.

View Full Content

Can't View the Full Content of this Resource?

To View the full content on this page you might have to login to your SCCE account. If you do not already have a login and password you can create one for free.

If you have a login click here
To create a login click here

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.