News & Analysis as of

World Bank

Red Notice Newsletter - October 2017

ANTICORRUPTION DEVELOPMENTS – Global Compliance Overhaul for SAP as DOJ and SEC Investigate Payments Allegedly Related to South African Government Contracts – On October 26, 2017, German software company SAP SE...more

Vietnam Directs Divestment of State-Owned Enterprises

by Jones Day on

The Situation: Vietnam, like other developing countries, is challenged by the prominence of state-owned enterprises throughout its economy. The Development: The Vietnamese government has directed that state ownership in a...more

Unintended Consequences: Ex-U.S. Activities Impacting U.S. Federal Health Care Business

by Ropes & Gray LLP on

Given the uptick in global awareness and enforcement of anti-bribery and corruption laws, most health care companies are attuned to the risks associated with legal infractions caused by ex-U.S. activities. However, ex-U.S....more

Africa Focus: Anticipated trends in project finance - The implications after South Africa's debt rating downgrade

by White & Case LLP on

While credit ratings are designed to assess the creditworthiness of country or corporation to inform the decisions of investors in these entities, the considerations of credit rating agencies may not always be fully aligned...more

Investment opportunities in the Fisheries and Aquaculture sector in Oman

by Dentons on

Oman's "Tanfeedh" programme has been established to promote economic diversification in the Sultanate. Tanfeedh aims to reduce dependence on the oil and gas sector, focusing on five key business sectors – manufacturing,...more

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS - U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations - On July 24, 2017, the United Kingdom’s Serious Fraud Office (SFO) announced that it had opened an investigation...more

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS - U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations - On July 24, 2017, the United Kingdom’s Serious Fraud Office (SFO) announced that it had opened an investigation...more

Red Notice Newsletter - July 2017

ANTICORRUPTION DEVELOPMENTS - U.K. Opens Corruption Investigation of Rio Tinto over Guinea Operations - On July 24, 2017, the United Kingdom’s Serious Fraud Office (SFO) announced that it had opened an investigation...more

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS - Steven Peikin Reported to Become Co-Director of SEC’s Enforcement Division - On May 26, 2017, The Wall Street Journal reported that recently confirmed Commissioner Jay Clayton will hire...more

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS - Steven Peikin Reported to Become Co-Director of SEC’s Enforcement Division - On May 26, 2017, The Wall Street Journal reported that recently confirmed Commissioner Jay Clayton will hire...more

Red Notice Newsletter - May 2017

ANTICORRUPTION DEVELOPMENTS - Steven Peikin Reported to Become Co-Director of SEC’s Enforcement Division - On May 26, 2017, The Wall Street Journal reported that recently confirmed Commissioner Jay Clayton will...more

Red Notice Newsletter - January 2017

ANTICORRUPTION DEVELOPMENTS - Las Vegas Sands Corporation Agrees to Pay Approximately $7 Million to Resolve DOJ FCPA Enforcement Action – On January 19, 2017, Las Vegas Sands Corporation (“Sands”), a Nevada-based...more

Energy supply agreements in an evolving climate change regulatory regime

by Dentons on

Many energy supply agreements currently in place were drafted at a time when it was uncertain what regulatory measures - if any - provincial or federal governments might take to reduce greenhouse gas (GHG) emissions. It is...more

UAE passes federal bankruptcy law - what has changed?

by DLA Piper on

The UAE has succeeded in creating a dynamic economy known for its entrepreneurial spirit. In recent years, however, the rapid development of the business community has outpaced corresponding changes to its legal...more

World Bank publishes Transfer Pricing Handbook for developing countries

by DLA Piper on

On 23 December 2016, the World Bank Group published a transfer pricing handbook "Transfer Pricing and Developing Economies: A Handbook for Policy Makers and Practitioners". The Handbook, which comprises eight chapters...more

World Bank Negative Pledge and Project Financings

by Latham & Watkins LLP on

One of the main functions of the World Bank, a financial institution mandated with fostering the reconstruction and development of sovereign nations after the Second World War, is to extend loans to the governments (and...more

In Win for Financial Services Industry, Second Circuit Limits Use of FCA to Enforce Banking Regulations

by Ropes & Gray LLP on

In United States ex rel. Bishop v. Wells Fargo & Co., 823 F.3d 35 (2d Cir. 2016), the Second Circuit rejected an attempt to use the False Claims Act (“FCA”) as an enforcement mechanism for banking regulations in the lead-up...more

Red Notice Newsletter - November 2016

JPMorgan Resolves Enforcement Action Regarding China Subsidiary’s Hiring Practices - On November 17, 2016, JPMorgan Chase & Co. (JPMC) entered into a nonprosecution agreement with the Department of Justice (DOJ), and...more

FinCEN’s Beneficial Ownership Rule and Increased AML Burden

Compliance officers at financial institutions have made great strides in improving Know Your Customer (KYC) programs to focus on knowing their customers as a critical function in combating money laundering. As regulators...more

World Bank’s Integrity Vice President (INT) Releases Annual Report for Fiscal Year 2016

On October 7, 2016, the Integrity Vice President (INT) of the World Bank Group (the “Bank”) released its annual report for fiscal year 2016 (the “Report”). In the Report, INT provides insight into the Bank’s efforts to combat...more

Five on Friday – Five Recent Developments that We’ve Been Watching Closely: July 2016 #2

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: the release of the third, and likely final, draft of the World...more

Michael Fiddy, Co-chair of DLA Piper's global restructuring group, reflects on significant restructuring developments around the...

by DLA Piper on

This edition of Global Insight comes to you shortly after the United Kingdom voted to leave the European Union. The morning after the vote we provided clients with a summary of its immediate impact, stressing that the...more

IREG Update - Global pandemic emergencies: the insurance industry tackles a seemingly unmanageable risk

by Dentons on

Global pandemic emergencies: the insurance industry tackles a seemingly unmanageable risk - On May 21, 2016, the World Bank Group announced the Pandemic Emergency Financing Facility (PEF), a new global financing...more

Climate Change Further Threatens MENA Water Security

by Latham & Watkins LLP on

Climate Change Further Threatens MENA Water Security - The Middle East and North Africa (MENA) is home to 14 of the 33 most water scarce countries globally, with six times less water availability than the worldwide...more

IAIS Secretary General Considers Path to International Cybersecurity Standard

by Foley & Lardner LLP on

Last week, the National Association of Insurance Commissioners (NAIC) hosted the 2016 NAIC International Insurance Forum. The Forum addressed topics such as the management of catastrophic disaster risks, industry perspectives...more

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Cybersecurity

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