Welcome to the October 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.
- Scottish authorities announce first settlement of the criminal offence of failure to prevent bribery
- No extension of Section 7 style corporate liability to 'failure to prevent economic crime'
- FCA and PRA new whistleblowing rules
- First National Risk Assessment of money laundering and terrorist financing
- CPMI consultation on correspondent banking
- Tom Hayes to appeal prison sentence
- Joint Committee of ESAs 2016 work programme
- OECD report on co-operation and information sharing between government agencies to counter financial crimes
- ISSA adopts Financial Crime Compliance Principles for Securities Custody and Settlement
- Paris Prosecutor to launch an investigation into Volkswagen in relation to emission tests scandal
- President of UEFA, Michel Platini, under investigation by FIFA's independent ethics committee
- Reviewing adopted text N°501 of legislative proposal: the duty of care of parent companies and sourcing companies
- Spanish Supreme Court issues a ruling on corporate criminal liability
- Egypt's government resigns amid corruption inquiry
- Iranian tycoon stands trial on corruption charges
- Swiss authorities helping Oman in oil corruption probe
- Ex-chairman of listed company sentenced to three years for HKD 1m bribery over acquisition
- Second appeal for former TVB general manager
- Macau Casino junket figure - case adjourned
China, South East Asia & India
China
- China forbids public fund spending for gifts during public holidays
- Former chairman of state owned steel corporation being investigated
- Deputy Chairman of national sport authority arrested for bribery
- Senior official of China Securities Regulatory Commission being investigated
Singapore
- Former RWS director charged with bribery
Pakistan
- Rangers reports reveals corruption by former petroleum minister
Malaysia
- Deputy Prime Minister defends anti-corruption track record
- US investigation targets Malaysian Prime Minister
East Timor
- East Timor signed memorandum of understanding with Malaysia for anti-corruption cooperation
India
- Indian Supreme Court says no mercy to corruption
- Government officials and bribe givers arrested in crackdown on corruption in the mines department
- Enforcement Directorate officers being investigated
Indonesia
- Former Secretary General of the Ministry of Energy and Mineral Resources sentenced to six years in prison for corruption
- KPK take actions to eradicate natural resources corruption
- Indonesian government's draft anti-criminalization regulation gives rise to controversial concerns on anti-corruption
- Tokyo stock exchange places Toshiba stocks "on alert"
- Former Mt. Gox CEO formally charged with embezzlement
- Ministry official arrested on bribery charges along with former company president
- DOJ prioritizes prosecution of individuals
- Analogic Corp reveals possible FCPA settlement with SEC
- Hitachi agrees to $19 million SEC settlement of FCPA charges
- SEC settles FCPA charges against Hyperdynamics
- Former CFO of Siemens Argentina pleads guilty to FCPA violations
- SEC brings insider trading charges related to P.F. Chang's merger
- Stockbroker pleads guilty in insider trading scheme
- Supreme Court declines to review Newman insider trading case
- Caesars Palace reaches AML settlement with FinCEN
- SEC charges investment advisor with failure to adopt proper cybersecurity policies and procedures
- Amendments to Cuban sanctions regime
Disclaimer
Herbert Smith Freehills LLP has a Formal Law Alliance (FLA) with Singapore law firm Prolegis LLC, which provides clients with access to Singapore law advice from Prolegis. The FLA in the name of Herbert Smith Freehills Prolegis allows the two firms to deliver a complementary and seamless legal service.