Global Investigations Review - The law and practice of international investigations


Korean courts put bid riggers in jail

February 07, 2014, GIR

The efforts of Korea’s Fair Trade Commission to increase its criminal cartel enforcement received a significant boost this week as two Korean courts issued decisions that included, for the first time, enforced prison sentences for individuals.

AG tells ECJ to permit umbrella claims

February 05, 2014, GIR

An advocate-general of the European Court of Justice asked the court to confirm the ability of claimants to bring damages claims if the goods bought have only been indirectly affected by cartel activity.

EU publishes first anti-corruption report

February 03, 2014, GIR

The European Commission’s report singles out the UK’s Bribery Act as an example of good practice within EU member states, saying it is among the strongest foreign bribery legislation in the world.

Building a legacy

February 03, 2014, GIR

With the clock ticking on his time as Europe’s competition commissioner, Joaquín Almunia has shifted his focus to the big cases remaining on DG Comp’s docket. Henry Vane looks ahead to his final few months and asks how far he is willing to pursue settlements in order to secure his legacy

As EU foam probe wraps up, US investigation carries on

February 03, 2014, GIR

While the European Commission has put the final touches on settlements with four polyurethane foam makers accused of operating a cartel in the market, a parallel investigation in the US – one that began months before raids were carried out in Europe – remains on the plate of antitrust officials in New York.

Alleged cement cartel facing unprecedented CADE fines and asset sales

January 30, 2014, GIR

Members of Brazil’s Administrative Council for Economic Defence (CADE) have proposed unprecedented fines and structural remedies to punish members of an alleged long-standing cartel among cement suppliers, in a move observers say will pave the way for lengthy court battles.

Antitrust whistleblowers should balance speed and thoroughness, observers say

January 30, 2014, GIR

Antitrust lawyers tasked with defending companies caught in criminal investigations say there is a tricky balance to be struck between rushing to win leniency from the Department of Justice, and hanging back to ensure counsel understands the supposed criminal activity before self-reporting.

General Court tweaks SKW calcium carbide fines

January 24, 2014, GIR

The EU General Court has upheld the fine imposed on SKW Stahl-Metallurige (SKW) for its role in the calcium carbide cartel, but slightly reduced the penalties on its former parent companies Gigaset (previously Arques) and Evonik Degussa after finding flaws in the commission’s fine calculation.

Big Four China affiliates blocked from US audits

January 24, 2014, GIR

A US Securities and Exchange Commission (SEC) administrative judge has ruled the Chinese affiliates of KPMG, Deloitte, Ernst & Young and PricewaterhouseCoopers (PwC) failed to comply with SEC document orders.

Standard Bank fined over money laundering controls

January 24, 2014, GIR

The UK’s Financial Conduct Authority (FCA) has fined Standard Bank £7.6 million (€9.2 million) for its politically exposed persons (PEP) policies.