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Huawei CFO Meng Wanzhou arrested in Canada, faces extradition to United States
Coast Guard Academy retaliated against a whistleblower who complained of racial bias
Hong Kong businessman guilty of bribery in African oil deal
Wells Fargo is reportedly firing dozens of regional managers
EU's latest probe into Google won't conclude this year, antitrust chief says
Mastercard Incurs $650M Charge Over EU Antitrust Fine
Ex-US official admits charges linked to Malaysian scandal
Report on Supply Chain Compliance
International Compliance 101
On Dec. 6, CNN reported, “The chief financial officer of Chinese tech giant Huawei has been arrested in Canada. She faces extradition to the United States. Meng Wanzhou, also known as Sabrina Meng and Cathy Meng, was apprehended in Vancouver on December 1, according to Canadian Justice Department spokesman Ian McLeod. In addition to her role as CFO, Meng serves as deputy chairwoman of Huawei's board.”
On Dec. 6, Business Insider reported, “An inspector general for the Department of Homeland Security found a lieutenant commander at the US Coast Guard Academy was retaliated against for complaining of racial bias. The inspection, reported by Ana Radelat of the Connecticut Mirror, found a ‘preponderance of evidence’ that the officer received a poor evaluation as a result of her complaints that she was ‘subjected to harassment and a hostile work environment’ due to her race and gender, according to the Mirror.”
On Dec. 5, AP reported, “A federal jury convicted a Hong Kong businessman Wednesday of bribing the presidents of two African nations to secure oil rights for a Chinese energy conglomerate, a case that stretched from the halls of the United Nations and highlighted the often blurry line between nongovernmental organizations and private enterprise. Dr. Chi Ping Patrick Ho was found guilty of seven of eight counts, including conspiracy, money laundering and violating the Foreign Corrupt Practices Act in a case that involved several former presidents of the United Nations General Assembly.”
On Dec. 5, CNBC reported, “Wells Fargo is firing approximately three dozen district managers for oversight failures related to a sales scandal in its retail bank two years ago, the Wall Street Journal reported Wednesday, citing people familiar with the matter. The bank wants to reassure regulators that it is fixing problems that emerged from the September 2016 scandal related to sales practice abuses, the Journal reports.”
On Dec. 4, CNBC reported, “The European Commission's latest investigation into Google won't conclude before the end of the year, the EU's antitrust chief said Tuesday. Speaking at a press conference at the Slush tech conference in Helsinki, Finland, European Competition Commissioner Margrethe Vestager said the EU's probe involving Google's AdSense service would ‘not be done before New Year's.’ Vestager said last month the investigation was nearing an end which could potentially mean a fine for the search giant.”
On Dec. 4, PYMNTS.com reported, “Mastercard incurred a $650 million fourth-quarter charge related to a large fine over a 2015 EU antitrust investigation, Reuters reported on Tuesday (Dec. 4). The company was accused of setting rules that blocked banks in one EU country from offering lower interchange fees to a retailer in another EU country. Mastercard actually stopped the practice in December of 2015 after the European Commission (EC) adopted charge-capping rules. Mastercard, along with Visa, has offered to put a cap on the fees applied to card payments by tourists in the EU, and to put an end to the antitrust investigation.”
On Nov. 30, AP reported, “A former Justice Department official admitted his role Friday in a multimillion-dollar effort to try to get the United States to drop its investigation into a money laundering and bribery scheme that pilfered billions from a Malaysian investment fund. George Higginbotham’s guilty plea in federal court in Washington marked the first public acknowledgement of a secret attempt to pressure American officials to drop their probe of the fund known as 1MDB.”
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