The last five years have seen a dramatic shift in the transparency environment, in a trend that began with Wikileaks launching the Arab Spring, and which is now reaching fruition in the vast data leaks from Luxembourg, Unaoil and Panama. Companies can no longer reliably distribute information as they choose, or maintain control over its interpretation.
Entries in Due Diligence (93)
The Unaoil scandal has again brought FCPA due diligence to the forefront. Specifically, the question asked of compliance officers is, “How much due diligence is enough?”
Shruti Shah on the U.S. response to the Panama Papers: A step in the right direction but more action is needed
The massive leak dubbed the Panama Papers has given the UK Anti-Corruption Summit on May 12 an unexpected boost. Those coming to the summit, now including the U.S., are lining up to make announcements about the steps they are taking to tackle corruption and specifically financial secrecy.
Medical isotope provider Nordion (Canada) Inc. and a former employee settled SEC charges Thursday of violating the Foreign Corrupt Practices Act by bribing Russian government officials. The former employee was also charged with taking kickbacks.
Many individuals, non-profits, and corporations actively support charitable causes around the world. The need to support worthwhile charitable projects in many developing markets is particularly acute due to local needs, the lack of government funding, and the lack of an adequately developed infrastructure.