Tag Archives: anticorruption

Thinking About the FIFA Bribery Scandal

The U.S. Department of Justice’s blockbuster announcement in late May that U.S. prosecutors have indicted fourteen defendants on corruption charges involving activities of the International Federation of Football (FIFA) and related regional member organizations captured news headlines around the world. The story has continued to dominate the news, as new details about the scandal have … Continue Reading

Many Companies’ Most Significant Regulatory Risks Are Not in Their Home Country

When Chinese regulators hit GlaxoSmithKline with a $489 million penalty last month – the largest corporate penalty ever in China – it set off alarm bells around the world. Among other things it sent out a “wake-up call for global companies that assumed that their main regulatory risk is in their home countries,” according to … Continue Reading

The Brazilian Clean Companies Act

For those of you looking ahead to 2014, one date you will want to note on your calendar is January 29, 2014. That is the effective date of the Brazilian Clean Companies Act, a new anti-bribery statute that signals Brazil’s intention to crack down on corruption. The Act represents an operational and compliance challenge for … Continue Reading

Corruption Allegations: More Securities Suits Against U.S.-Listed Chinese Companies?

As many readers will recall, a couple of years ago there was an intense barrage of securities litigation class action lawsuit filings against U.S.-listed Chinese companies. Many of the cases involved Chinese companies that obtained their U.S. listings by way of a reverse merger with publicly traded shell, and almost all of the cases involved alleged … Continue Reading

Significant Anticorruption Enforcement Developments Highlight Threats

Two developments involving major European companies illustrate both the challenges and uncertain progress of global efforts to combat corruption.   First, on July 29, 2008, Siemens announced (here) that its Supervisory Board has resolved to claim damages from ten former members of the company’s Managing Board executive committee, including two former CEOs and a former CFO. … Continue Reading

Anticorruption Enforcement “Stalemate” and Other Web Notes

In prior posts, I have examined the increasing importance of anticorruption efforts and their significance for purposes of corporate governance. But a recent report by a global watchdog group suggests that not all governments are actively enforcing their anticorruption commitments, with potentially serious consequences for the developing world.   Transparency International describes itself as a … Continue Reading