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Why the F.T.C. Is Taking a New Look at Facebook Privacy - Buyers must act properly to strengthen RMG supply chain - Iran executes businessman convicted of fraud, bribery - And More
12/27/2018 8:54:00 AM



Why the F.T.C. Is Taking a New Look at Facebook Privacy

On Dec. 22, The New York Times reported, “After a yearlong string of news reports that have called Facebook’s data-sharing practices into question, federal regulators are taking a hard look at how the social media company handles the personal information of its users. It is not the first time Facebook has drawn government scrutiny. About seven years ago, after charges were leveled by the Federal Trade Commission, the company made an agreement with the agency to overhaul its privacy practices. That agreement, called a consent decree, provides a road map for how the F.T.C. is likely to scrutinize Facebook over the coming months.”


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Buyers must act properly to strengthen RMG supply chain

On Dec. 22, New Age (Bangladesh) reported, “The Bangladesh apparel supply chain suffers from lack of ‘shared responsibility’ on part of global buyers although transparency of buyers and working condition in the apparel sector have improved after the 2013 Rana Plaza collapse. A report titled ‘Changes in the Governance of Garment Global Production Networks: Lead Firm, Supplier and Institutional Responses to the Rana Plaza Disaster’ that Germany-based Garment Supply Chain Governance Project has prepared conducting a survey on 152 managers and 1,500 workers of export-oriented apparel factories in Bangladesh finds that the fundamental business model in the apparel supply chain was not changing as production remained an industry with high levels of opportunity for countries to connect to global value chains, but that came at a price for workers. The report also says that Bangladeshi suppliers are facing difficulties in meeting the demands of global buyers because of lack of shared responsibility."


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Iran executes businessman convicted of fraud, bribery

On Dec. 22, Associated Press reported, “Iran has executed a businessman convicted of fraud, bribery and embezzlement. State TV reported that Hamid Reza Bagheri Dermani was hanged Saturday. The Supreme Court in November upheld his October death sentence and conviction on a charge of spreading corruption on Earth. He was also ordered to pay a more than $100 million cash fine.”


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Lawyer: Michigan State hampered probe of its Nassar dealings

On Dec. 21, Associated press reported, “A special prosecutor on Friday accused Michigan State University of stonewalling his investigation into the school’s handling of the sexual abuse scandal involving disgraced former sports doctor Larry Nassar and called for ‘top-down cultural change’ at the school. Bill Forsyth released a report that accuses the school of fighting the release of certain relevant documents and releasing others that were heavily redacted or irrelevant. It says such actions hampered the investigation.”


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Airbus stock tumbles on report US has joined bribery probe

On Dec. 21, Bloomberg News reported, “Airbus shares tumbled following a report that the U.S. Department of Justice has started an investigation into the European planemaker in parallel with British and French bribery probes. The stock fell 4.4 percent Thursday, the biggest drop in 2½ years. Le Monde reported that Airbus was informed at the end of the summer about the move by U.S. authorities. The newspaper added, without saying where it got the information, that the company could face fines of several billion dollars from the probes.”


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Why Sprint is paying a record $330 million settlement in New York

On Dec. 21, USA Today reported, “Sprint has agreed to pay a $330 million settlement after the company skirted New York tax law for nearly a decade, New York's attorney general announced Friday. The record-breaking settlement came in the wake of a false claims lawsuit filed by Attorney General Barbara Underwood alleging the cellular provider failed to collect and remit over $100 million in state and local taxes on flat-rate calling plans. The $330 million settlement is the largest recovery by a single state in a false claims lawsuit, according to the attorney general's office.”


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Number of Whistleblower Complaints in UK Significantly Higher Since GDPR

On Dec. 21, Corporate Counsel reported, “The number of reported whistleblower complaints about potential data breaches at businesses has increased 165 percent since the General Data Protection Regulation went into effect in May 2018, according to data from the United Kingdom’s Information Commissioner’s Office (ICO). … According to Reynolds Porter Chamberlain [law firm], the ICO is actively soliciting whistleblowers to come forward with any information, increasing the risk that noncompliant activity at businesses will be investigated and potentially fined.”


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Investors sue Goldman Sachs for damages over 1MDB scandal

On Dec. 21, Malaysiakini reported, “Investors in the US have filed a class action lawsuit against Goldman Sachs and three executives, seeking damages over its dealing with 1MDB. According to a court filing sighted by Malaysiakini, the lawsuit states that between Feb 28, 2014 and Dec 17, 2018 (class period), Goldman made ‘materially false and misleading statements’ regarding its business and operations. … The executives named in the suit are Goldman CEO Lloyud Blankfein, and two former chief financial officers Harvey Schwartz, and Martin Chaves.”


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Former SDSU Coach Tony Bland Strikes Plea Deal in College Basketball Bribery Investigation

On Dec. 21, Times of San Diego reported, “Former San Diego State University men’s basketball assistant coach Tony Bland has agreed to a plea bargain in the wide-ranging federal investigation into college basketball bribery and corruption. … Bland was among four college assistant basketball coaches named in an indictment unsealed Sept. 26, 2017, in a fraud and corruption scheme alleging they accepted bribes from either athlete business managers, financial advisers or an athletic apparel company. Federal prosecutors in New York said Bland accepted at least $13,000 in bribes from a pair of ‘athlete advisers’ between June and September 2017, in exchange for Bland influencing players to hire the advisers when they begin playing in the NBA.”


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Articles on the Ethics and Compliance Environment
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