-  Investigations updates from around the world

Tuesday, 01 July 2014

NotW editor to face illegal payment retrial

The former editor of the now-defunct UK newspaper The News of the World (NotW), Andy Coulson, and a former chief reporter, Clive Goodman, are to be retried on charges that they paid police officers for telephone numbers of members of the Royal Family.

Cuba seeking 15-year sentence for Canadian in graft case

A Canadian businessman is facing 15 years in prison in Cuba following multiple allegations of corruption against him, according to an AP report.

Monday, 30 June 2014

GSK bribery allegations surfaced with exec sex tape

Allegations that GlaxoSmithKline paid kickbacks to doctors and officials in China for using GSK products surfaced simultaneously with a secretly filmed tape of a company executive having sex with his girlfriend.

SEC ready to enforce against BlackRock

The US Securities and Exchange Commission (SEC) sent a Wells notice to US investment manager BlackRock on 17 June over a possibl conflict of interest, the company said in an SEC filing on Friday. The notices are typically a sign that the SEC intends to pursue companies for alleged misconduct.

SEC enforcement division chief operating officer steps down

Adam Storch, chief operating officer of the US Securities and Exchange Commission (SEC) enforcement division since 2009, will leave the agency next month, the agency said on Friday. Storch managed the enforcement division and guided it through a restructuring, which saw the creation of its office of the whistleblower and office of market intelligence.

Venice mayor plea deal rejected

An Italian judge has rejected a plea deal for the former mayor of Venice, Giorgio Orsoni, who, together with 34 others, was arrested on corruption charges at the start of June.

Friday, 27 June 2014

The US government's problems selling Bitcoins

The US government has been grappling with the problem of how to sell virtual currency Bitcoins that it has seized in criminal investigations, reports The New York Times. The US government is responsible for selling assets taken from criminals but Bitcoin has presented them with new difficulties.

EuroChem bribery lawsuit blow

Russian fertiliser producer EuroChem said it will continue its bribery and fraud lawsuit against International Mineral Resources (IMR) after a Dutch court dismissed its claim for damages, according to reports.

World Bank signs MoU with international prosecutor

The World Bank's anti-corruption unit has signed a new memorandum of understanding with the Office of the Prosecutor of the International Criminal Court (ICC), the ICC announced. The agreement will improve the "exchange of information and cooperation" between the World Bank and the ICC, which prosecutes the most serious crimes including genocide.

Thursday, 26 June 2014

UK could expand criminal corporate liability to non-bribery offences

The UK's Solicitor General Oliver Heald has said that the British government is considering whether to expand corporate criminal liability to other forms of financial crimes, according to The Financial Times.

New York attorney general sues Barclays over dark pools

New York attorney general Eric Schneiderman has filed a lawsuit alleging Barclays defrauded dark-pool customers by falsifying marketing materials and misleading clients. The securities fraud lawsuit alleges the dark pool, a private trading system, gave an unfair advantage to high-frequency traders despite promising investors the pool would allow them to get the best possible prices.

Wednesday, 25 June 2014

BNP Paribas moving sanctions compliance team to US

French bank BNP Paribas will move its US sanctions compliance team from Paris to New York, according to Reuters, citing unnamed sources. The move comes ahead of the bank's expected US$9 billion settlement with US authorities after it was accused of violating US sanctions, including in Sudan and Iran.

Jenner & Block partner to be Credit Suisse monitor

Jenner & Block partner Neil Barofsky is said to be appointed as the monitor for Swiss bank Credit Suisse after the company agreed to plead guilty to tax evasion charges brought by US authorities, according to The New York Times.

US Supreme Court: police need warrant to search mobile phones

The US Supreme Court today ruled police need to obtain a warrant before they can search the mobile phones of those they’ve arrested.

FCA brings insider trading charges

The UK's Financial Conduct Authority today announced it has charged former Schroders Investment Management securities trader Damian Frank Clarke with nine counts of insider trading.

Tuesday, 24 June 2014

Canada introduces Bitcoin regulations

Canada’s new anti-money laundering and counter-terrorist financing laws regulating digital currencies – like Bitcoin – have come into force. From now on digital currency exchanges will be subject to the same laws as other money service providers.

HSBC adds European compliance head

HSBC has strengthened its compliance department with the hiring of Alison Hewitt, a former retail business risk director at Lloyds Banking Group, to be HSBC’s head of regulatory compliance in Europe.

Ecclestone indictment hints at challenge for prosecutors

Forbes reports that new evidence in Bernie Ecclestone’s bribery trial could make it more difficult for Munich prosecutors to substantiate allegations against the Formula One boss.

New Zealand introduces director criminal offences

New Zealand’s government is expected to pass a bill today that creates two new criminal offences for company directors under the country’s 1993 Companies Act.

Libor lawsuit expands

A US federal district judge in Manhattan yesterday said Libor manipulation claims against Barclays and Rabobank can be added to another lawsuit brought by investment funds trading in Eurodollar futures.

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