News & Analysis as of

FinCrimes Update - July 2014 Summary, Volumn 1, Issue 5

FINCEN PROPOSES CUSTOMER DUE DILIGENCE RULE - On July 30, FinCEN released a proposed rule that would amend BSA regulations to clarify and add customer due diligence (CDD) obligations for banks and other financial...more

News from the Health Law Gurus™: July 2014

Survey of ACA Navigators Finds 10.6 Million People Sought Enrollment Help — In a survey released this week, the Kaiser Family Foundation (“Kaiser”) estimates that approximately 10.6 million people received assistance...more

Charges Against Former Virginia Governor McDonnell Brought on by Whistleblower

The media coverage of this week’s announcement that federal prosecutors have charged former Virginia Governor Robert F. McDonnell and his wife, Maureen, with illegally accepting gifts from a wealthy Richmond area businessman...more

SEC Enforcement Year in Review - 2013

Marked by leadership changes, high-profile trials, and shifting priorities, 2013 was a turning point for the Enforcement Division of the Securities and Exchange Commission (the “SEC” or the “Commission”). While the results of...more

BREAKING: In The Small Print: Huge Shake Up In UK Bribery Enforcement, US Style Whistleblowing & UK False Claims Act

Ed. Note-there have been some recent developments in the UK regarding the Bribery Act. TheBriberyAct.com guys, Barry Vitou and Richard Kovalevsky QC recently wrote about them. ...more

UK Government Announces Changes to Bribery Regime

Recent strategy paper sets out a new institutional structure for investigating bribery and proposes a reporting mechanism carrying financial incentives for whistleblowers. On 7 October, as part of its strategy document...more

Whistleblowing in China and the United States

The Chinese Government’s wide-ranging bribery and corruption investigation into the pharmaceutical industry takes a new turn every week. Media reports contain numerous incidents of purported whistleblowers making allegations...more

Two Cases From The Fifth Circuit Impacting Claims Of Bribery And Corruption

Over the past two weeks there were two separate Fifth Circuit Court of Appeals cases dealing with allegations of bribery and corruption....more

Anti-Corruption Efforts to the North and South

What do Canada and Brazil have in common? If you said, “recent aggressive ramp up in anti-corruption efforts,” you’d be right. But what makes this all the more interesting is that these efforts are largely being driven by...more

Chinese Detain Pharmaceutical Company Managers in Economic Crime Probe

This week, reports have arisen that Chinese authorities in the cities of Shanghai, Beijing, and Changsha detained high-level GlaxoSmithKline (GSK) managers as part of an investigation into potential “economic crimes.” The...more

Lunch With The FCPA Compliance & Ethics Blog – Phil Wedemeyer And The Audit Perspective In Compliance

One of my weekend reading pleasures is the Saturday section in the Financial Times (FT) entitled “Lunch with the FT”. ...more

Siemens Whistleblower Complaint Underscores Need for "Top-Down" Anti-Corruption Compliance

In 2008, Siemens AG paid $800 million to settle charges that it had violated the Foreign Corrupt Practices Act, which generally prohibits bribery of foreign officials for the purpose of obtaining or retaining business. That...more

The Allianz FCPA Enforcement Action – What the Compliance Practitioner Needs to Know

Who is your favorite character from the Iliad? Is it Agamemnon the king who brings the Greek Armada to Troy for his brother’s honor; perhaps Ajax the mountain of a man who is the most loyal Greek warrior; how about Achilles...more

Allianz To Pay $12.3M To Settle SEC’s Bribery Allegations

On December 17, 2012, the Securities and Exchange Commission ("SEC") announced that Allianz SE ("Allianz"), a German-based insurance and asset management company, had agreed to pay approximately $12.3 million to settle...more

Sixth Circuit Allows Key Defenses To SOX Whistleblower Claims That ARB Rejected

In a SOX whistleblower decision, the U.S. Court of Appeals for the Sixth Circuit embraced a number of employer-favorable legal standards that the Administrative Review Board (ARB) recently rejected....more

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