Region: Switzerland

Marshall Miller: ABB resolution shows DOJ is serious about new self-disclosure policy

ABB’s demonstration of intent to self-disclose bribery misconduct before a media report broke helped the repeat FCPA offender obtain a parent-level DPA, the principal associate deputy attorney general said.

07 December 2022

FCPA Docket: ABB settles SEC charges

The SEC levied a $75 million civil penalty on ABB, a Korean data company has been debarred from the World Bank, and Mexican bribery charges have been added to the DOJ’s case against Javier Aguilar.

05 December 2022

Glencore to pay $180 million to the DRC over corruption claims

Anglo-Swiss commodities trader Glencore will pay the Democratic Republic of Congo $180 million as part of an agreement over its alleged corrupt practices in the country.

05 December 2022

ABB to pay $327 million in multilateral bribery resolution

The Zurich-based industrial company entered resolutions with US, Swiss and South African authorities, while a resolution of a German investigation is anticipated.

02 December 2022

FCA fines Swiss bank £18m for corrupt dealings

30 November 2022

Glencore fined £281m in UK over Africa bribery schemes

A Glencore subsidiary received the UK’s highest-ever penalty for a corporate criminal conviction after a judge found that bribery was “part of the culture” on the trader’s West Africa oil desk.

03 November 2022

People News: Credit Suisse brings in new compliance chief

Featured in In-house

In the latest roundup, Swiss lender Credit Suisse has brought in a new chief compliance officer after her predecessor was in the role for just one year, while several law firms have announced promotions to partner level.

03 November 2022

Glencore office in Switzerland doled out cash bribes, court hears

A prosecutor described how Glencore executives flew to African countries in private jets packed with cash bribes, as the commodity trader’s UK subsidiary awaits its sentence on Thursday.

02 November 2022

US court dismisses Libor-rigging charges against convicted ex-trader

A Manhattan federal court has thrown out a ten-year-old indictment against Tom Hayes, a British former trader who was convicted in the UK in 2015 for manipulating an interest rate benchmark.

31 October 2022

Nigeria loses bid for victim compensation in Glencore’s UK bribery case

A London court has denied a request from the Nigerian government to receive compensation from Glencore over bribes the commodities trader has admitted paying to a state oil company.

26 October 2022

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