FCPA, UK Bribery Act interpreted from a EU non-us/uk perspective
|
|
- Jodie Banks
- 6 years ago
- Views:
Transcription
1 NYSBA Prague Regional Meeting 2012 Friday, 9th of March FCPA, UK Bribery Act interpreted from a EU non-us/uk perspective Otto Waechter, Philip Rosenauer
2 NYSBA Prague Regional Meeting 2012 Friday, 9th of March Table of contents I. Introduction II. Numbers III. Corruption IV. Multinational/ European Treaties V. Understanding European VI. Examples VII. Outlook Otto Waechter, Philip Rosenauer
3 I. Introduction FCPA, UK Bribery Act - why bother as Mainland European residing on the Continent? Corruption a concern Treaties (judicial assistance, implementation, etc.) Local Law / Money Laundering Sanctions / Extradition / Debarment Ne bis in idem Data Transfer / Bank Secrecy Taxes Costs (e.g. Compliance, Interviews) Attorneys admitted in NY or other States (Conduct, privilege), etc, etc, etc.. 3
4 I. Introduction - cartoon on bribery
5 I. Introduction/Numbers - Transparency International, Corruption Perception Index 2011
6 I. Introduction/Numbers - Transparency International, Bribe Payers Index 2011
7 II. Corruption bribery theft embezzlement smuggling Corruption illegal funding fraud money laundering grease pay. money rain
8 II. Corruption TELCO AG (seat in Vienna; ADR listed in NY, important business in Glasgow) Secretary of Transportation enacted a regulation in favor of TELCO; Immediately after his resignation his assistant received a salary for 2 years of ,- from TELCO via a lobbyist. Independently, Secretary was invited by TELCO to the Super Bowl, the Salzburger Festspiele and a private Cocktail Party by the CEO of TELCO.
9 IV. Multinational Treaties OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions Members: e.g. Czech Republic, Hungary, Austria, UK and US (mutual assistance, extradition!) United Nation Convention against Corruption (UK ratified) Working Group reports
10 IV. Multinational Treaties FATF - Financial Action Task Force - established by a G-7 summit - develops and promotes policies to combat money laundering and terrorist financing MONEYVAL (Council of Europe) - evaluates measures of anti-money laundering - tasks same as GRECO - cooperates with IMF, World Bank, FATF
11 IV. European Treaties Council of Europe: not an institution of the EU aim: democratic and legal area throughout the whole continent, ensuring respect for its fundamental values: human rights, democracy and rule o. law Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime (amended 2003) Member States: 48 Mutual Assistance and tracking down and seize proceeds 11
12 IV. European Treaties Civil and Criminal Law Convention on Corruption Member States (47): Austria, Bulgaria, Estonia, Finland, Greece, Latvia, Malta, Poland, Rumania, Sweden, Slovakia, Slovenia, Czech Republic, Hungary, Cyprus not: UK, Russia Mutual assistance, corporation and compliance common international definition for rules in connection with civil and criminal corruption claims, damages, protection of employees, preservation of assets, etc. 12
13 IV. European Treaties GRECO monitors the observance of the guiding principles of the treaty monitors the implementation of international legal instruments conduct evaluations of member states prepares reports national authorities are obliged to pursue criminal offences
14 IV. European Union Art 325 AEUV 1. The Union and the Member States shall counter fraud and any other illegal activities affecting the financial interests of the Union through measures to be taken which shall act as a deterrent and be such as to afford effective protection in the Member States, and in all the Union s institutions, bodies, offices and agencies. 2. Member States shall take the same measures to counter fraud affecting the financial interests of the Union as they take to counter fraud affecting their own financial interests. 3. Member States shall coordinate their action aimed at protecting the financial interests of the Union against fraud. To this end they shall organize, together with the Commission, close and regular cooperation between the competent authorities.
15 IV. European Union OLAF Council Regulation on-the-spot checks & investigations carried out by Commission to protect financial interests Commission decision establishing the European Anti- Fraud Office (OLAF) Target: EU expenditure, revenue, staff procedural rights: internal & external investigations, coordination of cases, criminal assistance recommendations: question in dispute is the legal consequence binding for local authorities?
16 IV. European Union OLAF s mandate to investigate: all EU expenditures (structural funds, agricultural policy & rural development, direct expenditure and external aid), a substantial part of EU revenue (customs duties, agricultural duties and sugar levies), EU staff (officials, temporary agents, local agents and contract agents) affecting the EU s financial interests.
17 IV. European Union OLAF in 2010: ( 67,9 mio; 351,2 mio. open) European Anti-Fraud Office, Annual Report 2011
18 V. Europe - Understanding
19 V. Europe - Understanding Council of Europe (Europarat) Corruption (Civil and Criminal Law Convention on Corruption) Examples: Means: purpose: culpability: offender: recipient: how: bribe, concealed party donations distorting the proper performance of any duty or behavior required deliberately acting (willfulness not required) e.g. employee, executives, GmbH, AG, ltd., plc. official or a third person e.g. public official (meaning under national law), wife, kid (relatives) e.g. instigation (Anstiftung); agent
20 V. Europe - Understanding Council of Europe (Europarat) Corruption (Civil and Criminal Law Convention on Corruption Implementation & Enforcement (e.g. Austria) criminal code: civil law: prosecutor, criminal complaint by parties involved (bribery in private sector) civil complaint by parties involved
21 Sanctions: V. Europe - Understanding Council of Europe (Europarat) Corruption (Civil and Criminal Law Convention on Corruption Civil Law: Criminal Law: [Administrative: compensation for damages either by the state or the Offender effective, proportionate and dissuasive sanctions and measures, including fines; and when committed by natural persons, fines, imprisonment and extradition Debarment (P. Procurement Directive)]
22 VI. Examples activity: means: purpose: offender: recipient: $$ (Mio) to secure government contract ($ 1 bio.) even goods of minor value pen neglecting/violating procurement procedures officer, director, employee, agent, stockholder; national, resident, corp. or partnership in the USA; corp. or partnership organized under foreign law foreign public official, foreign political party e.g. officer or employee of a foreign government, or agency thereof, person acting on behalf of such instrumentality
23 VI. Examples Case TELCO (fictitious case) activity: paying means: ,-- purpose: to an Austrian Secretary of Infrastructure to sign an Act (his duty) how: via lobbyist who: issuer of ADRs (TELCO) culpability: knowing influencing signing of an Act recipient: Assistant of the Congressman Defense: outside payment is lawful in Austria?! (Secretary of Employment Act for Public Services)
24 VI. Examples Case TELCO (fictitious case) activity: Cocktail party/ Festspiele/ research paper means: food & beverages / opera / $$ purpose: show off, image; getting him to review draft of an Act prepared by TELCO and to be signed how: via CEO / lobbyist who: executive of subsidiary (TELCO) culpability: intention recipient: Secretary of Infrastructure Defense: payment is lawful in Austria (?) adequate procedures (e.g. risk assessment, DDpolicies, top-level commitments) (?)
25 VI. Differences FCPA only active bribery FCPA limited to foreign officials (Cross border element) No criminal liability for corruption in private sector Settlements: US/UK Deferred Prosecution Agreement Enforcement Sanctions Defenses 25
26 VI. Enforcement FCPA Securities Exchange Commission (SEC) Department of Justice (DOJ) UK Director of the Serious Fraud Office (SFO) EU (Austria) public prosecutor (department on corruption), or private corruption : if aggrieved party demands prosecution mutual assistance and extradition (treaties e.g. OECD)
27 VI. Sanctions FCPA UK civil penalties up to $ ,- and further penalties up to $ 2,- Mio (individuals: $ ,-) or imprisonment of 5 years max. fines up to statutory maximum (unlimited) imprisonment of 1to 10 years EUROPE Country specific Austria imprisonment 1-10 years
28 VI. Defense FCPA lawful under foreign public official s national law, reasonable and bona fide expenditure, or e.g. payment for flight and accommodation to join product presentation securing or expediting routine governmental action e.g. visa, facilitation payments UK adequate procedures (Sec 7) Foreign public official: activity permitted or required under national law (Sec 6) 28
29 VI. Defense EUROPE/ AUSTRIA Receiving a benefit not applicable to federal ministers, mayors, governors, members of supervisory boards of outsourced companies (no employment regulation) Benefits : no, in case feasible and appropriate service in return customary gifts of minor value, or received ex post, or no connection with official act
30 VI. Criticism Criticism from GRECO national congressmen are only liable to prosecution if they are actively/passively bribed for behavior in connection with voting in Congress provisions on the transparency of financing political parties are without any sanctions regulation of disclosure to avoid corruption enacting of Lobbying and Interest Groups Transparency Act demanded (Ministerial Draft Bill) Bribing within the private sector prosecution only by private party mandatory closing of proceedings if public official makes good (active repentance Tätige Reue )
31 VII. Outlook need of standardization of provisions on Corruption within EU (corruption) improve cooperation between authorities and between authorities and private sector (information transfer) implementation of and compliance with Treaties implementation of Compliance-Mechanism in business entities intensify Due Diligence Audits for takeovers
32 FCPA, UK Bribery Act interpreted from a EU non-us/uk perspective Thank you for your attention! Dr. Otto Waechter
OVERVIEW OF INTERNATIONAL ANTI-BRIBERY LAWS
Global Investigations in an International World: Managing Investigations in the Face of a Proliferation of New Anti-Bribery Laws and Cooperation Among Governments Todd Braunstein, Willis Towers Watson
More informationAn Overview of the Foreign Corrupt Practices Act
BEIJING BRUSSELS CHICAGO DALLAS FRANKFURT GENEVA HONG KONG LONDON LOS ANGELES NEW YORK SAN FRANCISCO SHANGHAI SINGAPORE SYDNEY TOKYO WASHINGTON, D.C. An Overview of the Foreign Corrupt Practices Act Presentation
More informationWorking Group on Bribery: 2012 Data on Enforcement of the Anti-Bribery Convention
Working Group on Bribery: 2012 Data on Enforcement of the Anti-Bribery Convention Highlights from the Working Group on Bribery Enforcement Data, as of December 2012 221 individuals and 90 entities have
More informationModern Strategies For Tackling Proceeds From Organized Crime And Corruption Lithuanian Experience
Modern Strategies For Tackling Proceeds From Organized Crime And Corruption Lithuanian Experience Dr. Skirmantas Bikelis Law Institute of Lithuania The Stockholm Criminology Symposium 8-10th June 2015
More informationInternational Business Transactions. FCPA, OECD Convention and OECD Member States New Legislation
International Business Transactions Introduction to the International Anti-bribery Laws FCPA, OECD Convention and OECD Member States New Legislation Analysis, Comparison and Risk Management A European
More informationLiechtenstein. I. Brief Introduction to the Legal System of Liechtenstein
Liechtenstein I. Brief Introduction to the Legal System of Liechtenstein As Liechtenstein is a very small country and has always been greatly affected by Austrian history, both Liechtenstein s legal system
More informationEnforcement of Foreign Bribery under the OECD Anti-Bribery Convention
Enforcement of Foreign Bribery under the OECD Anti-Bribery Convention Kathleen Kao Anti-Corruption Division, OECD The views expressed in this presentation do not necessarily NOT PROTECTIVELY represent
More informationSUNEDISON, INC. September 2013 FOREIGN ANTI-CORRUPTION POLICY
SUNEDISON, INC. September 2013 FOREIGN ANTI-CORRUPTION POLICY Statement of Policy. It is the policy of the Company that the Company, all of its subsidiaries and affiliates, and any of its and their officers,
More informationTREATY SERIES 2003 Nº 2. Convention on Combating Bribery of Foreign Public Officials in International Business Transactions
TREATY SERIES 2003 Nº 2 Convention on Combating Bribery of Foreign Public Officials in International Business Transactions Done at Paris on 17 December 1997 Signed on behalf of Ireland on 17 December 1997
More informationUnited States Department of Justice Foreign Corrupt Practices Act Initiative for Pharmaceutical and Medical Device Manufacturers
United States Department of Justice Foreign Corrupt Practices Act Initiative for Pharmaceutical and Medical Device Manufacturers The Tenth Annual Pharmaceutical Regulatory and Compliance Congress and Best
More informationBRIBERY IN INTERNATIONAL BUSINESS TRANSACTIONS
BRIBERY IN INTERNATIONAL BUSINESS TRANSACTIONS GLOBAL Headquarters the gregor building 716 West Ave Austin, TX 78701-2727 USA TABLE OF CONTENTS I. INTRODUCTION 1BCourse Overview... 2 94BMajor International
More informationBribery and Corruption
Bribery and Corruption The FCPA, UK Bribery Act, and Other Anti-Corruption Measures 2018 Association of Certified Fraud Examiners, Inc. Introduction The FCPA and the UK Bribery Act are the two premier
More informationInstitute of Internal Auditors 2018 IIA CHICAGO CHAPTER JOIN NTAC:4UC-11
IIA CHICAGO CHAPTER JOIN US: @IIACHI UNDERSTANDING THE FCPA: RECENT TRENDS AND CONSIDERATIONS PRESENTED BY: ALI RAMPURAWALA, MANAGER MUMTA TANEJA, MANAGER AGENDA Overview of Foreign Corrupt Practices Act
More informationINTERNATIONAL COOPERATION IN THE FIELD OF CONFISCATION AND RECOVERY OF CRIMINAL ASSETS: TOOLS AND INSTRUMENTS
INTERNATIONAL COOPERATION IN THE FIELD OF CONFISCATION AND RECOVERY OF CRIMINAL ASSETS: TOOLS AND INSTRUMENTS Luis Rodríguez Sol Prosecutor. Spanish Liaison Magistrate to Italy Malta, 11 June 2018 To fight
More informationINTERNATIONAL COOPERATION IN THE FIELD OF CONFISCATION AND RECOVERY OF CRIMINAL ASSETS: TOOLS AND INSTRUMENTS
INTERNATIONAL COOPERATION IN THE FIELD OF CONFISCATION AND RECOVERY OF CRIMINAL ASSETS: TOOLS AND INSTRUMENTS Luis Rodríguez Sol Prosecutor. Spanish Liaison Magistrate to Italy Leipzig, 29 November 2017
More informationForeign Corrupt Practices Act Policy August 16, 2017
I. PURPOSE To provide guidelines to all officers, directors, employees, consultants and agents that are employed by the Company to ensure compliance with the Foreign Corrupt Practices Act of the United
More informationDouble Jeopardy in Investigations and Prosecutions: Risks and Best Practices for companies and individuals
Double Jeopardy in Investigations and Prosecutions: Risks and Best Practices for companies and individuals A sketch of the legal framework IBA - Anti-Corruption Conference, OECD Paris 15 June 2016 - Double
More informationVoya Financial Anti-Corruption and Anti-Bribery Policy
Voya Financial Anti-Corruption and Anti-Bribery Policy Version 2.0 April 2014 Information Sheet ISSUED BY Voya Financial Compliance OWNED AND APPROVED BY Board of Voya Financial TARGET AUDIENCE All Voya
More informationFOREIGN CORRUPT PRACTICES ACT ANTIBRIBERY PROVISIONS
Text Only Version FOREIGN CORRUPT PRACTICES ACT ANTIBRIBERY PROVISIONS United States Department of Justice Fraud Section, Criminal Division 10th & Constitution Avenue, NW (Bond 4th Fl.) Washington, D.C.
More informationPrevention of corrupt practices and transfer of funds of illicit origin
United Nations General Assembly Distr.: General 2 July 2002 Original: English A/57/158 Fifty-seventh session Items 87 (c) and 102 of the preliminary list * Sectoral policy questions: preventing and combating
More informationWikiLeaks Document Release
WikiLeaks Document Release February 2, 2009 Congressional Research Service Report RL30079 FOREIGN CORRUPT PRACTICES ACT Michael V. Seitzinger, American Law Division Updated March 3, 1999 Abstract. The
More informationRecommendation of the Council for Further Combating Bribery of Foreign Public Officials in International Business Transactions
Working Group on Bribery in International Business Transactions Recommendation of the Council for Further Combating Bribery of Foreign Public Officials in International Business Transactions 26 NOVEMBER
More informationAvoiding Fraud and Corrupt Practices. Michael Steinberg IES Abroad AIEA Conference February 2014
Avoiding Fraud and Corrupt Practices Michael Steinberg IES Abroad AIEA Conference February 2014 Types of Corruption Bribery Bribery» E Extortion Embezzlement Grey Market Avoiding Fraud and Corrupt practices
More informationQUESTIONNAIRE Country self-assessment report on implementation and enforcement of G20 commitments on foreign bribery
QUESTIONNAIRE Country self-assessment report on implementation and enforcement of G20 commitments on foreign bribery G20 countries are invited to complete the questionnaire, below, on the implementation
More informationUS, UK, EU: How does it all fit together?
US, UK, EU: How does it all fit together? NYSBA/Czech Bar Association Prague 9 th March, 2012 2011 Duane Morris LLP. All Rights Reserved. Duane Morris is a registered service mark of Duane Morris LLP.
More informationLaw No. 80 for Promulgating Anti- Money Laundering Law, Amended by Law No. 78 for 2003*
First Draft 1 Law No. 80 for 2002 Promulgating Anti- Money Laundering Law, Amended by Law No. 78 for 2003* In the Name of the People, The President of the Republic, The People's Assembly approved the following
More informationALTAIR ENGINEERING INC. FOREIGN CORRUPT PRACTICES ACT POLICY. (Adopted as of August 29, 2012)
ALTAIR ENGINEERING INC. FOREIGN CORRUPT PRACTICES ACT POLICY (Adopted as of August 29, 2012) The U.S. Foreign Corrupt Practices Act of 1977, as amended (the Act or the FCPA ), amended the U.S. federal
More informationLeveraging OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions
Improving Transparency in Reconstruction, Aid Flow and Reforms in Lebanon Beirut February 20, 2007 Leveraging OECD Convention on Combating Bribery of Foreign Public Officials in International Business
More informationMPLX LP POLICY STATEMENT
ANTI-CORRUPTION COMPLIANCE GUIDELINES The policy of (the Partnership, and together with its subsidiaries, the Partnership Group ) is to comply with all anti-corruption laws, including the U.S. Foreign
More informationANTI-CORRUPTION POLICY
ANTI-CORRUPTION POLICY BACKGROUND: Alcoa Corporation ( Alcoa ) and its management are committed to conducting all of it operations around the globe, ethically and in compliance with all applicable laws.
More informationCOMMISSION OF THE EUROPEAN COMMUNITIES REPORT FROM THE COMMISSION
COMMISSION OF THE EUROPEAN COMMUNITIES Brussels, 25.10.2004 COM(2004) 709 final REPORT FROM THE COMMISSION Implementation by Member States of the Convention on the Protection of the European Communities
More informationUniversity of California, Berkeley
University of California, Berkeley Corruption to Good Governance: Are There Lessons from Abroad? Ken Taymor, Executive Director Berkeley Center for Law, Business & the Economy July 9, 201 1 Overview Introduction
More informationForeign Corrupt Practices Act Policy
Foreign Corrupt Practices Act Policy Current as of April 1, 2015 IPM Headquarters 8401 Colesville Road, Suite 200 Silver Spring, MD 20910 USA Phone 1-301-608-2221 Fax 1-301-608-2241 www.ipmglobal.org Introduction
More informationUK Bribery Act 2010: Understanding and Meeting the Challenge. 13 October2010 Presented by Rose Parlane, Senior Associate, McGuireWoods London LLP
UK Bribery Act 2010: Understanding and Meeting the Challenge 13 October2010 Presented by Rose Parlane, Senior Associate, McGuireWoods London LLP Key Offences Offences of bribing another person (s.1) Offences
More informationSelf-assessment checklist on the implementation of the United Nations Convention against Corruption
Self-assessment checklist on the implementation of the United Nations Convention against Corruption Assessment Name: Federal Ministry of Justice Country: Germany Create Date: 06.08.2007 Assessor: korte-ma
More informationGlobal Anti-Bribery Policy
Global Anti-Bribery Policy A. Introduction Power Corporation of Canada ( Power Corporation or the Corporation ) and its Board of Directors are committed to carrying out business worldwide ethically and
More informationDividends from the EU to the US: The S-Corp and its Q-Sub. Peter Kirpensteijn 23 September 2016
Dividends from the EU to the : The S-Corp and its Q-Sub Peter Kirpensteijn 23 September 2016 The Inc: large multinational manufacturing company residents The LLC: holding company owned by tax residents
More informationMutual recognition of judicial decisions on confiscation: the way forward
Mutual recognition of judicial decisions on confiscation: the way forward 1. Introduction Confiscation of assets derived from criminal activities, organized crime and corruption in particular, has been
More informationDavid Krakoff Partner, Washington D.C
The FCPA Extends Its Reach October 20, 2009 Stephen Hood Partner, São Paulo +55 11 21 26 48 55 shood@mayerbrown.com David Krakoff Partner, Washington D.C. +1 202 263-3370 dkrakoff@mayerbrown.comk Lynn
More information2017 Enforcement of the Anti-Bribery Convention
2017 Enforcement of the Anti-Bribery Convention Special focus: What happened to the public officials in sanctioned foreign bribery schemes? OECD Working Group on Bribery November 2018 HIGHLIGHTS 560 individuals
More informationPROGRESS REPORT ON THE G20 SELF-ASSESSMENT ON COMBATING THE BRIBERY OF FOREIGN PUBLIC OFFICIALS
PROGRESS REPORT ON THE G20 SELF-ASSESSMENT ON COMBATING THE BRIBERY OF FOREIGN PUBLIC OFFICIALS June 2015 1 Introduction 1. At the meeting of the G20 Anti-Corruption Working Group (ACWG) in February 2014,
More informationCROSS BORDER STATUTES & OTHER MEASURES TO CURB MONEY LAUNDERING 25 November 2005, Makati Shangrila, Rizal Ballroom Makati, Philippines
SUMMARY REPORT ON ALA WORKSHOP II Rapporteur: Atty. Diane A. Desierto CROSS BORDER STATUTES & OTHER MEASURES TO CURB MONEY LAUNDERING 25 November 2005, Makati Shangrila, Rizal Ballroom Makati, Philippines
More informationAnti-Corruption Compliance Policy
Anti-Corruption Compliance Policy I. Introduction Purpose Gibraltar s reputation in the marketplace - with customers, vendors, business partners, and with regulators and other legal authorities - is among
More informationAnti-Bribery and Corruption Policy
Anti-Bribery and Corruption Policy Steadfast Group Limited ABN: 98 073 659 677 Anti-Bribery and Corruption Policy 1 Contents Our commitment 2 1. INTRODUCTION 3 1.1 Summary of policy... 3 1.2 Who does this
More informationCONVENTION ON COMBATING BRIBERY OF FOREIGN PUBLIC OFFICIALS IN INTERNATIONAL BUSINESS TRANSACTIONS. and Related Documents
CONVENTION ON COMBATING BRIBERY OF FOREIGN PUBLIC OFFICIALS IN INTERNATIONAL BUSINESS TRANSACTIONS and Related Documents OECD 2011 Applications for permission to reproduce or translate all or part of this
More informationFINANCIAL ACTION TASK FORCE ON MONEY LAUNDERING THE FORTY RECOMMENDATIONS OF THE FINANCIAL ACTION TASK FORCE ON MONEY LAUNDERING
FINAL FATF-VII ANNEX 1 FINANCIAL ACTION TASK FORCE ON MONEY LAUNDERING THE FORTY RECOMMENDATIONS OF THE FINANCIAL ACTION TASK FORCE ON MONEY LAUNDERING 28 June 1996 1 Introduction 1. The Financial Action
More informationCRS-2 develop and promote policies to combat money laundering and terrorist financing. 3 Recently, China and South Korea were granted observer status,
Order Code RS21904 Updated January 30, 2008 Summary The Financial Action Task Force: An Overview James K. Jackson Specialist in International Trade and Finance Foreign Affairs, Defense, and Trade Division
More informationEuropean Anti-Fraud Office (OLAF) 18 June Neil RITCHIE, Head of Sector Directorate A Investigations I Centralised Expenditure A.
European Anti-Fraud Office (OLAF) 18 June 2018 Neil RITCHIE, Head of Sector Directorate A Investigations I Centralised Expenditure A.3 A little history 1988 creation of OLAF predecessor, UCLAF 1999 creation
More informationADVISORY White Collar
ADVISORY White Collar April 15, 2010 THE BRIBERY ACT 2010 - A BRAVE NEW WORLD FOR BUSINESS? Summary On 8 April 2010, the UK Bribery Bill received Royal Assent as the Bribery Act 2010 (the Act ). The Act,
More informationLaw on. Combating Money Laundering and Terrorism Financing LAW ON COMBATING MONEY LAUNDERING AND TERRORISM FINANCING
LAW ON COMBATING MONEY LAUNDERING AND TERRORISM FINANCING Law on Combating Money Laundering and Terrorism Financing PUBLISHED BY: AL ALAWI & CO., ADVOCATES & LEGAL CONSULTANTS CORPORATE ADVISORY GROUP
More informationAnti-Corruption. Will increased international cooperation stem corruption?
Volume 3 Issue 6 Anti-Corruption Will increased international cooperation stem corruption? John E Davis leads the global interview panel covering anti corruption regulation and investigations in key economies
More informationAnti-Corruption Law in Vietnam Foreign Corrupt Practices Act
Anti-Corruption Law in Vietnam Foreign Corrupt Practices Act Orsolya Szotyory-Grove September 2008 Anti-Corruption Law in Vietnam Corruption Perceptions Index Asia Pacific Region, 2007 Transparency International,
More informationStrasbourg, 6 November 2015 C198-COP(2015)PROG3-ANALYSIS
Strasbourg, 6 November 2015 C198-COP(2015)PROG3-ANALYSIS CONFERENCE OF THE PARTIES Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing
More informationJosé Lopes da Mota Deputy Prosecutor General Former President of Eurojust
* José Lopes da Mota Deputy Prosecutor General Former President of Eurojust 1 2 Fraud and corruption in health care recognised as a global problem Different players (persons, companies, entities) Acting
More informationGroup Gifts and Hospitality Policy
Policy # BW-GRP- ABC-03 Group Gifts and Hospitality Policy Effective Date 30 September 2017 Email HilaryW@barloworld.com Version V 2.2 Contact Hilary Wilton Phone 011 445 1168 Purpose... 1 Scope... 1 Regulatory
More informationMichael Connolly Head of Specialist Investigations Inland Detection Scotland, N.Ireland & NE England. Tackling Tobacco Smuggling Together
Michael Connolly Head of Specialist Investigations Inland Detection Scotland, N.Ireland & NE England Tackling Tobacco Smuggling Together HMRC Operational delivery HMRC Intelligence Strategy/Policy Investigation/Detection
More informationAnti-Bribery & Corruption Policy
Anti-Bribery & Corruption Policy TABLE OF CONTENTS 1 INTRODUCTION... 4 2 GENERAL PRINCIPLES... 4 2.1 What is prohibited?... 4 2.2 What does "Anything of Value" mean?... 5 2.3 Who is a "Government Official"?...
More informationANNUAL REVIEW BY THE COMMISSION. of Member States' Annual Activity Reports on Export Credits in the sense of Regulation (EU) No 1233/2011
EUROPEAN COMMISSION Brussels, 7.2.2017 COM(2017) 67 final ANNUAL REVIEW BY THE COMMISSION of Member States' Annual Activity Reports on Export Credits in the sense of Regulation (EU) No 1233/2011 EN EN
More informationEva Rossidou Papakyriacou Senior Counsel of the Republic Head of the Unit for Combating Money Laundering (MOKAS)
Eva Rossidou Papakyriacou Senior Counsel of the Republic Head of the Unit for Combating Money Laundering (MOKAS) The process by which criminals conceal the true origin and ownership of the proceeds of
More informationBrazil s Clean Company Act: How U.S., U.K., and Global Models May Influence Enforcement
Brazil s Clean Company Act: How U.S., U.K., and Global Models May Influence Enforcement July 14, 2014 1) Introduction Brazil s new anti-bribery law (Law no. 12.846/2013), often referred to as the Clean
More informationCORRUPTION. A Reference Guide and Information Note. on the use of the FATF Recommendations. to support the fight against Corruption
FINANCIAL ACTION TASK FORCE CORRUPTION A Reference Guide and Information Note on the use of the FATF Recommendations to support the fight against Corruption The Financial Action Task Force (FATF) is the
More informationMONEY LAUNDERING - The EU and Malta
MONEY LAUNDERING - The EU and Malta Author: George Farrugia α Background The new Prevention of Money Laundering Regulations 2003, which have just been published in August, implement the second European
More informationCouncil of Europe COMMITTEE OF MINISTERS
Word FranГais Explanatory Memorandum Council of Europe COMMITTEE OF MINISTERS Recommendation Rec(2001)11 of the Committee of Ministers to member states concerning guiding principles on the fight against
More informationWhat Retailers Need To Know Now About the Foreign Corrupt Practices Act. Karen A. Popp Brenda A. Jacobs December 2, 2009
What Retailers Need To Know Now About the Foreign Corrupt Practices Act Karen A. Popp Brenda A. Jacobs December 2, 2009 FCPA Overview What is the FCPA? New Developments and Enforcement Trends How To Manage
More informationA. INTRODUCTION AND FINANCING OF THE GENERAL BUDGET. EXPENDITURE Description Budget Budget Change (%)
DRAFT AMENDING BUDGET NO. 2/2018 VOLUME 1 - TOTAL REVENUE A. INTRODUCTION AND FINANCING OF THE GENERAL BUDGET FINANCING OF THE GENERAL BUDGET Appropriations to be covered during the financial year 2018
More informationANTI-BRIBERY POLICY STATEMENT
ANTI-BRIBERY POLICY STATEMENT 1. BACKGROUND AND PURPOSE Department 13 (D13) maintains an Anti-Bribery Policy prohibiting any improper or unethical payment to government officials or a party to a private
More informationRetail Solutions Inc.
Retail Solutions Inc. Policy Name: Foreign Anti-Corruption Policy Effective Date: April 2012 Next Review Date: April 2013 Policy Sponsor: Peter Rieman Approved By: Jonathan Golovin Purpose The purpose
More information2016 Data on Enforcement of the Anti-Bribery Convention
2016 Data on Enforcement of the Anti-Bribery Convention Special focus on international co-operation OECD Working Group on Bribery November 2017 HIGHLIGHTS 443 individuals and 158 entities have been sanctioned
More informationLegal Framework on Asset Recovery The United Nations Convention Against Corruption 1. Oliver Stolpe UNODC
Legal Framework on Asset Recovery The United Nations Convention Against Corruption 1 Introduction Oliver Stolpe UNODC 1. Asset recovery represents an entirely new field of international law and international
More informationAnti-Corruption Compliance for Investment Companies
Anti-Corruption Compliance for Investment Companies Robert J. Meyer Willkie Farr & Gallagher LLP rmeyer@willkie.com (202) 303-1123 Jim Davis Franklin Templeton & Mutual Series Funds jdavis@frk.com (650)
More informationWHL ANTI-BRIBERY, CORRUPTION AND SANCTIONS POLICY
WHL ANTI-BRIBERY, CORRUPTION AND SANCTIONS POLICY 1. POLICY OVERVIEW Woolworths Holdings Limited ( WHL ) and its subsidiaries ( the Group ) is committed to conducting its business in accordance with all
More informationEUROPEAN COMMITTEE ON CRIME PROBLEMS (CDPC)
Strasbourg, 14 May 2004 MONEYVAL (04) 7Summ EUROPEAN COMMITTEE ON CRIME PROBLEMS (CDPC) SELECT COMMITTEE OF EXPERTS ON THE EVALUATION OF ANTI-MONEY LAUNDERING MEASURES MONEYVAL SECOND ROUND EVALUATION
More information2017 Year-End Review: Anti-Corruption Trends and Other Corporate Enforcement Issues
2017 Year-End Review: Anti-Corruption Trends and Other Corporate Enforcement Issues January 25, 2018 Davis Polk & Wardwell LLP CLE CREDIT AVAILABLE Agenda 2017 Facts and Figures DOJ Developments FCPA Corporate
More informationThe EU: your questions answered
1 The EU: your questions answered This booklet gives a brief overview of some of the issues and questions people have raised about the European Union. Many people have said that they don t have enough
More informationThe Bribery Act A Brave New World for Business?
The Bribery Act 2010 - A Brave New World for Business? By John Rupp and Alexandra Melia (Covington & Burling LLP) Summary On April 8, 2010, the UK Bribery Bill received Royal Assent as the Bribery Act
More informationANTI-CORRUPTION POLICY
ANTI-CORRUPTION POLICY PURPOSE AND APPLICATION As the Foundation for a Smoke-Free World, Inc. (the Foundation or we ) expands and develops internationally, the Foundation must ensure that all employees
More informationBeyond the FCPA. A Global Change in Anti-Corruption Enforcement. Presented by: Dana Choi John Irving Sonya Strnad. July 19, 2011
Beyond the FCPA A Global Change in Anti-Corruption Enforcement July 19, 2011 Presented by: Dana Choi John Irving Sonya Strnad Copyright 2011 Holland & Knight LLP. All Rights Reserved Global Approach to
More informationEUROPEAN COMMISSION. Annual Review of Member States' Annual Activity Reports on Export Credits in the sense of Regulation (EU) 1233/2011
EUROPEAN COMMISSION Annual Review of Member States' Annual Activity Reports on Export Credits in the sense of Regulation (EU) 1233/2011 EN 1. Introduction: Regulation (EU) No 1233/2011 of the European
More informationMTI WIRELESS EDGE LTD - Anti-Bribery Compliance Policy
Purpose - The purpose of this Policy is to assist directors, officers, employees and business partners in identifying anti-bribery related issues and in understanding and complying with applicable antibribery
More informationGENERAL GUIDANCE NOTE
BACKED BY SAMPLE POLICY Anti-Bribery Compliance GENERAL GUIDANCE NOTE This sample anti-bribery policy is generically illustrative, but is neither legal advice nor a substitute for consultation with knowledgeable
More informationOECD Working Group on Bribery
OECD Working Group on Bribery Annual Report OECD WORKING GROUP ON BRIBERY 2010 ANNUAL REPORT Table of contents MESSAGE FROM THE SECRETARY-GENERAL 2 MESSAGE FROM THE CHAIR, OECD WORKING GROUP ON BRIBERY
More informationPractical Implementation of UN Standards and Financial Action Task Force on Money Laundering (FATF) Recommendations: Challenges and Assistance
2007/ACT/WKSP/005 Practical Implementation of UN Standards and Financial Action Task Force on Money Laundering (FATF) Recommendations: Challenges and Assistance Submitted by: United Nations Office on Drugs
More informationCOMMUNICATION FROM THE COMMISSION
EUROPEAN COMMISSION Brussels, 20.2.2019 C(2019) 1396 final COMMUNICATION FROM THE COMMISSION Modification of the calculation method for lump sum payments and daily penalty payments proposed by the Commission
More informationThe Protocol to Eliminate Illicit Trade in Tobacco Products: an overview
The Protocol to Eliminate Illicit Trade in Tobacco Products: an overview Background The Protocol to Eliminate Illicit Trade in Tobacco Products is an international treaty with the objective of eliminating
More informationForeign Corrupt Practices Act. 15 February 2018
Foreign Corrupt Practices Act 15 February 2018 Introduction The Foreign Corrupt Practices Act ( FCPA ), codified at 15 U.S.C. 78dd-1, et seq., has two separate parts. The antibribery provisions prohibit
More informationInternational Standards on Combating Money Laundering and the Financing of. The FATF Recommendations
International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation The FATF Recommendations February 2012 INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE
More informationCOMMENTARY. Enforcement JONES DAY
May 2012 JONES DAY COMMENTARY FCPA and International Anticorruption Enforcement For the last several years, the Department of Justice ( DOJ ) and Securities and Exchange Commission ( SEC ) have taken an
More informationConference of the States Parties to the United Nations Convention against Corruption
United Nations CAC/COSP/2013/L.11/Rev.1 Conference of the States Parties to the United Nations Convention against Corruption Distr.: Limited 28 November 2013 Original: English Fifth session Panama City,
More informationPHASE 1 REPORT ON IMPLEMENTING THE OECD ANTI-BRIBERY CONVENTION IN THE RUSSIAN FEDERATION
PHASE 1 REPORT ON IMPLEMENTING THE OECD ANTI-BRIBERY CONVENTION IN THE RUSSIAN FEDERATION March 2012 This Phase 1 Report on the Russian Federation by the OECD Working Group on Bribery evaluates and makes
More informationOverview of the U.S. Foreign Corrupt Practices Act
Presentation for the Swiss- American Chamber of Commerce: Overview of the U.S. Foreign Corrupt Practices Act Kevin M. King November 16, 2011 2010 Cooley LLP, Five Palo Alto Square, 3000 El Camino Real,
More informationThe Bribery Act 2010:
The Bribery Act 2010: Overview Introduction The Bribery Act 2010 (the Act ) came into force on 1 July 2011. The main four offences under the Act are: 1. bribing another person (section 1); 2. being bribed
More informationConference of the States Parties to the United Nations Convention against Corruption
United Nations CAC/COSP/IRG/I/4/1/Add.56 Conference of the States Parties to the United Nations Convention against Corruption Distr.: General 8 May 2017 English Original: French Implementation Review Group
More informationDuke University Anti-Corruption Policy Approved: December 3, 2014
Duke University Anti-Corruption Policy Approved: December 3, 2014 I. Introduction Duke University, Duke University Health System and their controlled support corporations, affiliates and agencies (collectively,
More informationGovern d Andorra Missió Permanent del Principat d Andorra a l OSCE NOTE VERBALE
Govern d Andorra Missió Permanent del Principat d Andorra a l OSCE FSC.EMI/42/10 1 April 2010 ENGLISH only NOTE VERBALE The Permanent Mission of the Principality of Andorra to the Organization for Security
More informationANTI-CORRUPTION AND ANTI-BRIBERY POLICY
COMPLIANCE 18.0 ANTI-CORRUPTION AND ANTI-BRIBERY POLICY I. SCOPE This policy applies to all directors, officers, employees, agents, and shareholders of UHS of Delaware, Inc. (hereafter, UHS ), its subsidiaries
More informationSOUTHWESTERN ENERGY COMPANY ANTI-CORRUPTION COMPLIANCE POLICY
SOUTHWESTERN ENERGY COMPANY ANTI-CORRUPTION COMPLIANCE POLICY I. Introduction At Southwestern Energy Company, we and our controlled subsidiaries and joint ventures (collectively, SWN or the Company ) build
More informationSecond Evaluation Round
DIRECTORATE GENERAL OF HUMAN RIGHTS AND LEGAL AFFAIRS DIRECTORATE OF MONITORING Strasbourg, 5 December 2008 Public Greco RC-II (2006) 3E Addendum Second Evaluation Round Addendum to the Compliance Report
More informationFraud, Bribery and Corruption Control Policy
Fraud, Bribery and Corruption Control Policy 1. Introduction DuluxGroup acknowledges the need for directors, executives, employees and contractors to observe the highest ethical standards of corporate
More informationTrends and Developments in Global Anti-Bribery Enforcement
IIA Norge 2017 Trends and Developments in Global Anti-Bribery Enforcement Pia Vining Senior Director, Due Diligence 30 May 2017 Raising the Standard of Anti-Bribery Compliance Worldwide 2016 TRACE International,
More informationLimitation of Administrative Penalties by the European Convention of Human Rights and the EU Charter of Fundamental Rights
Limitation of Administrative Penalties by the European Convention of Human Rights and the EU Charter of Fundamental Rights Prof. Giuseppe Marino Professor of Tax Law University of Milan Taxpayers rights
More information