|
|
|
|
|
Compendium Roundup
In early September, a Paris court sentenced Safran to a Euro 500,000 fine for corruption in Nigeria between 2000 and 2003, in connection with a USD 214 million contract to manufacture national identity cards. Bribes were paid to Nigerian officials, including the former Minister of the Interior. The case is summarized briefly here; for the complete Compendium entry, see here.
On 24 September, Tyco International agreed to pay USD 26 million to settle FCPA charges. Six years earlier, the company paid USD 50 million in civil penalties for similar charges. The new allegations involve corrupt payments in 16 countries by Tyco and various local subsidiaries and third-party intermediaries. See here for a brief description of the case, or here for the full Compendium summary.
Following an exposé on Swedish television on 19 September 2012, telecommunications firm TeliaSonera acknowledged that it is under investigation by the National Anti-Corruption Unit of the Swedish Prosecutor General's office. The Company disclosed that the police were investigating the 2007 transaction whereby it acquired 3G licenses worth USD 333 million in Uzbekistan. The complete Compendium summary for this case is available here.
There have also been updates on the investigations of Tenix, Man SE, ZTE, Layne Christensen, Harris, Eni, Finmeccanica and Hewlett Packard, among others. |
 September was a busy month for the TRACEblog. In addition to celebrating the launch of TRAC, our online global due diligence platform, TRACEblog examined the factors contributing to bribery in Italy, and the success of anti-corruption efforts currently underway in Latvia and South Africa (and some failures to curb corruption there as well). The Blog explored how motorcycles and bribery are connected, and speculated on the repatriation of a fugitive from prosecution in one of the Siemens cases. It also took a close look at the efficacy of the UK Bribery Act, and examined the impact of deferred prosecution agreements and the effects of India's relaxation of its foreign direct investment rules. The latest and thus-far greatest whistleblower was introduced, and the virtues of the TRACE Compendium, an invaluable resource for anyone interested in international corruption, were revealed. Finally, the TRACEblog applauds President Obama's new initiatives in the campaign against human trafficking. |
|
Articles and Books
In this eminently readable collection, anti-corruption experts guide the reader through the dark world of international bribery schemes, from Washington, D.C. to Europe and Africa and across Asia. Following the authors' accounts of imaginative and varied schemes in which charitable contributions are tainted and fine art is used as a vehicle for passing bribes to greedy officials, this volume offers recommendations for the best practices companies can incorporate to avoid corruption as they interact with governments, intermediaries and each other in international markets. Available for purchase here.
ByAlexandraWrage,Corporate Counsel, September 20, 2012
By Alexandra Wrage, September 07, 2012 |
|
Upcoming Webinars
03 October 2012, 12:00 pm ET
TRACE makes compliance with due diligence obligations easier and less expensive for organizations by providing flexible and cost-effective due diligence options for all intermediary risk levels. Our due diligence services and solutions range from baseline reviews to on-the-ground, intensive reviews of high risk third parties or acquisition or joint venture targets. For a fraction of the cost of other providers, TRACE offers due diligence solutions that are customizable, practical and comprehensive. Our team of multilingual due diligence analysts and attorneys carefully vets every report for accuracy, alerting you of red flags and higher risk relationships that may require more attention. To learn more about TRACE due diligence services, sign up for tomorrow's complimentary webinar today. Register here. |
|
Featured Tool 
Not all third parties require the same level of due diligence. That's why TRACEselect allows companies to order separately priced components of a due diligence report, tailoring their experience based upon what is important to them. TRACEselect is designed to help companies better manage their commercial intermediaries at all levels of risk and fulfill their unique compliance needs with one simple and cost-effective due diligence solution. To learn more, listen to our recent webinar by clicking here or contact diligence@traceinternational.org. |
03 October 2012
Internal Investigations in Russia and the CIS
Robert Wieck, Forensic Audit Senior Manager, EMEA of Oracle Corporation in Romania
10 October 2012
The Shot Show Case: FCPA Lessons Learned from the Frontlines
Michael J. Madigan, Senior Counsel, White Collar & Corporate Investigations of Orrick, Herrington & Sutcliffe LLP
29-30 October 2012
2012 TRACE Annual Forum
TASA Candidates may earn five credits for attending the TRACE Forum. There is no charge for TRACE members to attend, but pre-registration is required by October 12. Available spaces are open to non-members for a fee. For more information, or to register, please send your name, company affiliation and contact details to workshop@traceinternational.org.
Fall/Winter courses under development include:
Navigating the Evolving Regulatory Landscape in Myanmar to Address Anti-Bribery Challenges
Third Party Due Diligence and Supply and Marketing Chain Compliance - Beyond Anti-Bribery
Anti-Bribery Compliance Challenges in Kazakhstan
Contract Negotiation and Execution: Detecting and Responding to Bribery
Anti-Bribery Compliance Challenges in Venezuela
Global Anti-Corruption Enforcement and Regulatory Update
The FCPA Year in Review and Looking Ahead to 2013
Courses are being added frequently.Visit https://www.thetasa.org/ for course updates and to apply for accreditation.
|
|
News & Press 
September marked the official release of TRAC, the free global online due diligence platform for supply and marketing chain compliance. In a press conference on September 11, TRACE announced the members of the TRAC Leadership Group: ABB, Adobe, American Airlines, Barrick Gold, Home Depot, and International Relief and Development. We thank our Leadership Group companies for their endorsement of TRAC and encourage other companies to join us in tackling bribery, money laundering, sanctions violations, trafficked labor, and the use of conflict minerals in the global marketing and supply chain.
To learn more about TRAC, view a 90 second clip here, or visit www.tracnumber.com.
"TRACE Inc. Launches New Compliance Platform"
Main Justice, September 11, 2012
"TRACE Releases New Marketing and Supply Chain Compliance Tool"
Compliance Week, September 11, 2012
"Due Diligence Platform Aims to Cut Out Compliance Questionaires"
WSJ Corruption Currents, September 11, 2012 |
2012 NACD Board Leadership Conference
Gaylor National Resort, National Harbor, MD, October 14-16, 2012
*Alexandra Wrage, TRACE President, speaking
7th Annual Sustainable Supply Chain Summit
Regents Park Marriott Hotel, London UK, October 22-23, 2012
*Alexandra Wrage, TRACE President, speaking
Managing Third Party Relationship Risks
Hotel Lutetia, Paris, October 23-24, 2012
TRACE Members receive a $200 discount.
*Eileen Radford, Director, Advisory Services, TRACE, speaking
World Bribery & Corruption Compliance Conference 2012
Crowne Plaza St James, London, UK, October 23-25, 2012
TRACE Members receive a 20 percent discount.
*Eileen Radford, Director, Advisory Services, TRACE, speaking
10th Annual General Counsel West Coast Conference
Grand Hyatt, San Francisco, October 30-31, 2012
*Alexandra Wrage, TRACE President, speaking
Please contact dipalma@traceinternational.org for more information about TRACE partner events and discounts.
|
|
Sincerely,
151 West Street
Annapolis, Maryland 21401
410-990-0076 | 410-990-0707 (fax)
www.traceinternational.org
To learn more about TRACE anti-bribery resources and due diligence services, view a short video clip here. |
|
|
