Welcome to Dorsey & Whitney’s monthly Anti-Corruption Digest. In this digest, we draw together news of enforcement activity throughout the world and aim to reduce your information overload. Our London, Minneapolis, New York and Washington DC offices edit the digest and select the most important material so that you can use this digest as a single source of information.
In this edition, among the many topics discussed, we report on the changes to the processes the DOJ and the SEC will use to decide if a company will receive “cooperation credit”; a speech made by the Director of the SEC’s Enforcement Division in which he repeatedly emphasized the importance of empowering compliance professionals, suggesting that companies should include compliance personnel in critical meetings and give them adequate resources; news that the international telecommunications and media company, Millicom, self-disclosed possible FCPA violations to law enforcement in the U.S. and Sweden regarding alleged payments made in Guatemala by the company’s joint venture which sells mobile services.
Updates from the UK include a report on the first charges in the SFO’s investigation into allegations that a number of individuals conspired to manipulate EURIBOR in an attempt to influence the prices of various financial instruments; news of an international investigation into an unnamed defense company based in the U.K. amid allegations that it paid bribes in order to secure a multimillion dollar contract with the U.S. government; and an update into the SFO’s approach to deferred prosecution agreements.
Global updates include news from Brazil that a parliamentary commission report has been published regarding the ongoing investigation into Petrobras which does not criticize those closely associated with the company, including President Dilma Rousseff; an update from Norway regarding alleged corruption in VimpelCom’s dealings in Uzbekistan for mobile telephone frequencies and licenses to enter its telecom market; a report regarding the investigation into the former President of the International Association of Athletics Federations amid allegations of corruption that are linked to a claimed cover-up of failed drugs tests by athletes; an update from South Korea where 32 individuals have been indicted in an alleged corruption matter involving the nation’s biggest steelmaking company, Posco; plus anti-corruption developments in China, Peru, Vietnam and more from around the globe.
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Corruption issues are also addressed in the Anti-Fraud Network’s newsletters: see http://www.antifraudnetwork.com for current and archived material; see also the Computer Fraud website at http://computerfraud.us and SEC Actions at http://www.secactions.com.
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