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The Securities and Exchange Commission recently paid $14 million to an unidentified informant under the Dodd-Frank whistleblower program. Although the particular enforcement action was not identified, the SEC said the whistleblower’s tip led to a substantial recovery of investor funds. Given that awards can range from 10 to 30 percent of the money collected in a case, this recovery was therefore in the range of $67 million to $140 million… [
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In recent years, the US Department of Justice has been aggressively investigating the use of bank accounts outside the US to evade tax. While emphasizing that its enforcement activities are and must remain global, the DOJ has taken public actions relating to banking activities in Switzerland, India, Luxembourg, Israel, the Caribbean and Lichtenstein. These initiatives and ongoing investigations have resulted in the prosecutions of multiple banks, 68 US persons, and professionals (including approximately 30 banking professionals)…. [
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Samsung Electronics Co. (005930) can’t import some smartphones and tablet computers into the U.S. after President
Barack Obama decided not to veto a ban won by
Apple Inc. (AAPL) in a patent-infringement dispute.
“After carefully weighing policy considerations, including the impact on consumers and competition, advice from agencies, and information from interested parties, I have decided to allow” the import ban, Obama’s designee, U.S. Trade Representative
Michael Froman, said in a statement today…. [
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Leighton Holdings hit back at allegations of bribery and corruption. The company
faces shareholder class action lawsuits. Should Australia
take another look at its anti-graft regime? What about how companies
pick directors? (The Australian, ABC News, Brisbane Times, Financial Review)The U.K. Serious Fraud Office
will announce progress in 2014 in its probe of payments made by
Barclays PLC to the Qatar sovereign wealth fund, the agency’s director said… [
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