Goldman Sachs has a very bad week, most particularly around its role in the 1MDB scandal. Tom and Jay consider that story and look at some of the week’s top compliance and ethics stories.
1. Malaysian officials call for Goldman Sachs to return the $600MM profits it made on the 1MDB bond sales. Stephania Palma reports. Goldman Sachs reserves up to $1.8bn to pay for the scandal. Sam Rubenfeld reports. Tom has a 3-part series on the matter. See more +
Goldman Sachs has a very bad week, most particularly around its role in the 1MDB scandal. Tom and Jay consider that story and look at some of the week’s top compliance and ethics stories.
1. Malaysian officials call for Goldman Sachs to return the $600MM profits it made on the 1MDB bond sales. Stephania Palma reports. Goldman Sachs reserves up to $1.8bn to pay for the scandal. Sam Rubenfeld reports. Tom has a 3-part series on the matter. Part I-background facts in the guilty plea and indictments, Part 2-the bribery and money-laundering schemes and Part 3-what does it all mean for compliance professionals.
2. New academic reports shows better whistleblower programs save companies money. Matt Kelly has two posts on it. Tom blogs about it.
3. What happens when a compliance professional is not up for the job. David Crow looks at a FCA investigation.
4. Who is Responsible for Ethics? Marsha Ershagahi Hames explains.
5. Did the Hoskins decision change any requirements around due diligence on intermediaries or other third-parties? Eric Lochner opines.
6. Does the recent Stryker FCPA enforcement action change the requirements for per diem expense reimbursements? Kyden Creekpaum writes.
7. Does a Golden Passport portend corruption? Dick Cassin explores in the FCPA Blog.
8. Magistrate recommends PdVSA suit alleging recoupment of bribery proceeds by tossed. Carol Balado reports.
9. Is the (SEC) glass half-full or half-empty? In half-full article, FCPA Unit head says more industries about to be sweep. In the half-empty department, Co-Director of Enforcment, Stephanie Akavian says its impact, not numbers that matter (meaning the numbers are way down). Francine McKenna reports.
10. Ever wonder how a SEC investigation begins? Dan Portnov explains it.
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