Welcome to the September 2015 edition of our corporate crime update - our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. For the full update on each jurisdiction, please click on the name of the jurisdiction below. Below we provide a brief overview of what is covered in each update.
- Former derivatives trader convicted of LIBOR fixing
- SFO investigation into Soma Oil and Gas
- HMT/BIS review of AML/CTF rules
- Suspects charged with £12 million fraud and money laundering against public and private bodies
- Delay to implementation dates of Small Business, Enterprise and Employment Act
- New multi-agency International Corruption Unit
- Advocate General opinion on MLD III
- Transposition of Directive on attacks against information systems
- French Ministry of Finance outlines contemplated bill aiming at improving transparency
- France enacts new limits to the amount of cash that can be paid by professionals to settle liabilities
- Hong Kong Monetary Authority disciplined against State Bank of India
- HKMA Cautions Banks on Malpractice by Intermediaries and Sales Agents
- BNP Paribas Securities (Asia) Limited fined by Hong Kong's SFC for dark pool operations
- SFC hands out hefty fines against Nomura Hong Kong for failing to self-report non-compliance in a timely manner
- Hong Kong Resources chairman faces bribery charges
China, South East Asia and India
China
- China passes amendments to its criminal law
- SAIC issued new circular on scrutiny of automotive industry
- Former vice-minister for environmental protection under investigation
- Former executive of Shanghai-based retail giants convicted of corruption
- Wison Engineering and its chairman convicted of bribery in China
- People’s Bank of China Enters into Anti-Money Laundering Cooperation Arrangement with Macau’s Monetary Authority
India
- Louis Berger in bribery scandal
- Draft bill proposed to tackle bribery of foreign officials
Thailand
- Thailand tourism official charged with bribery
Indonesia
- Trade ministry officials and an importer businessman under investigation for suspected corruption Philippines
- State prosecutor suspended for demanding bribes
Taiwan
- Bribery scandal of Formosa Plastics
Pakistan
- Court orders arrest of former Prime Minister and Commerce Minister on charges of corruption
South Korea
- Supreme Court upheld bribery conviction against former Prime Minister
Vietnam
- Vietnam working with Singapore to recover corrupt official's illegal property
- Revision of Guidelines to prevent bribery of foreign officials
- Bitcoin Exchange company CEO arrested in Tokyo
- Revisions to the FCPA Resource Guide
- Mead Johnson Nutrition Company pays US$12 million in FCPA settlement with SEC
- BNY Mellon agrees to pay US$14.8 million to settle SEC FCPA charges
- Former SAP executive pleads guilty to FCPA charges
- Navigators Insurance Company reaches settlement with OFAC regarding alleged sanctions violations
- OFAC issues Finding of Violation to Schlumberger Oilfield Holdings in relation to violations of sanctions against Iran and Sudan
- Solicitor General seeks Supreme Court review of Newman decision
- SEC and DOJ charge former investment bank analyst with insider trading
- SEC charges 32 defendants in connection with insider trading hacking scheme
- Citigroup Global Markets settles with SEC in relation to compliance and surveillance failings
- FINCEN money laundering ruling in relation to FBME Bank
- US Senate resolution disapproving of JCPOA fails
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