In this issue:
- NFA Amends CPO and CTA Quarterly Reporting Requirements
- SDNY Imposes Second Highest Penalty Under Foreign Corrupt Practices Act
- Grand Jury Indicts Swiss Lawyer and Banker in Tax Evasion Scheme
- FDIC and OCC Propose Limits on Deposit Advance Loans
- Excerpt from: SDNY Imposes Second Highest Penalty Under Foreign Corrupt Practices Act
The US District Court for the Southern District of New York recently ordered Uriel Sharef, a former Siemens AG board member and German citizen accused of bribing Argentine government officials, to pay a $275,000 civil penalty pursuant to a settlement agreement with the Securities and Exchange Commission. This is the second-highest civil penalty imposed on an individual under the Foreign Corrupt Practices Act (FCPA).
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