Along with the incessant calls of “from the river to the sea...,” one refrain that is heard often among pro-Palestinian protesters at college encampments is this expressed by Barnard college student Maria Grosso, who wants...more
In this weekly update, we summarise the most notable updates in the UK sanctions world. ...more
On 21 December 2023, Mr Justice Waksman handed down his judgment in the second trial of the Eurasian Natural Resources Corporation (ENRC) saga. The judgment, along with its earlier companions, is extraordinary in many ways...more
In this article, we examine in depth the 20 December elections in the Democratic Republic of Congo (DRC). The presidential, legislative, and local elections will take the most populous Francophone country globally to the...more
In the past, U.S. and Canadian courts have not been receptive to litigation of human rights issues solely related to plaintiffs who are neither citizens of nor located in either country. These courts believed that what...more
Compliance Today (October 2020) - In a case that has remained unresolved for almost a decade, Sculptor Capital Management Inc., formerly Och-Ziff Capital Management, agreed to pay investors in a Congolese mine, who were...more
Saudi Aramco has priced its offering at the high end of its range, setting the company up to raise more than $25 billion and value the company at nearly $1.7 trillion—all part of what promises to make this the world’s biggest...more
The World Health Organization (WHO) has recently declared a global health emergency due to an outbreak of Ebola in the Democratic Republic of Congo. WHO officials made the declaration after the virus recently spread to Goma,...more
M&A in Africa totaled US$21.1 billion in 2018, a slight drop compared to the US$22 billion recorded in 2017. Deal volume, however, fell more precipitously from 272 in 2017 to 206 in 2018. ...more
International arbitration can benefit the parties to a range of mining disputes - Mining is one of Africa's flagship industries and a growth engine for many of the continent's countries, such as Angola, Côte d'Ivoire, the...more
We have been talking about conflict minerals for years. And, so have our manufacturing clients. As covered previously in this blog, the conflict minerals laws and regulations are some of the most well known, but least...more
The remedies the Securities and Exchange Commission (“SEC”) can seek in its enforcement actions are a critical question in the wake of the Kokesh v. SEC, 137 S.Ct. 1635 (2017) and SEC v. Cohen, Civil Action No. 17-cv-430...more
The Office of Foreign Assets Control (“OFAC”) wrapped up 2017 by issuing a series of high-profile designations generally prohibiting U.S. persons from conducting financial or other transactions with the identified individuals...more
It’s Friday and time for another overview of developments in the field of business and human rights that we’ve been monitoring. This week’s post includes: an announcement by the Government of Australia that it will move...more
The Democratic Republic of Congo adopted Law No. 17/001 on 8 February 2017, regulating subcontracting in the private sector. It entered into force on 17 March 2017, with a one-year transitional period. In adopting these...more
Weekly projects and energy updates in South Africa Eskom urged to be less secretive with its operating data Eskom came under criticism at the National Energy Regulator (NERSA) subcommittee hearings for attempting to keep some...more
Moz plant illustrates rapid commissioning potential of gas engines - Electricity generation using gas as a fuel has great potential to meet the growing needs of many African countries, especially with a peaking-plant...more
Effective immediately, the SEC staff has relaxed conflict minerals reporting requirements by public companies. The change was triggered by the entry of a final judgment in the conflict minerals case. ...more
On April 3, 2017, the Council of the European Union approved a new regulation intended to prevent the trade in conflict minerals, which followed the approval of the European Parliament on March 16, 2017. This puts an end to...more
On January 31, 2017, Michael Piwowar, Acting Chairman of the Securities and Exchange Commission (the “SEC”), issued two Statements regarding the current status of guidance on and implementation of the conflict minerals rules....more
The SEC recently filed a lengthy civil complaint against two Och-Ziff executives: Michael Cohen, who headed Och-Ziff’s European office, and Vanja Barros, an executive responsible for Africa-related transactions, charging them...more
SEC Acting Chairman Michael S. Piwowar issued a “Statement on the Commission’s Conflict Minerals Rule” and another statement titled “Reconsideration of Conflict Minerals Rule Implementation.” Chairman Piwowar reviewed...more
Major FCPA Enforcement Action - Including charges against the CEO and CFO for failing to prevent misconduct - In one of the largest FCPA settlements in history, hedge fund Och-Ziff Capital Management Group LLC...more
The Och-Ziff settlement has now set the stage for the Justice Department and the SEC to focus its enforcement eye on the private equity and hedge fund industry. The Och-Ziff action was initiated in response to the SEC’s...more
The Och-Ziff enforcement action is replete with examples of failures in due diligence and transaction monitoring compliance. Och-Ziff’s bribery schemes were elaborate and intricate and involved complex transactions,...more