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Global Anti-Corruption Insights Update on Recent Enforcement, Litigation, and Compliance Developments
Global Anti-Corruption Insights Update on Recent Enforcement, Litigation, and Compliance Developments Winter 2015 arnoldporter.com Table of contents EXECUTIVE SUMMARY: 2014 YEAR IN REVIEW _______ 3 KEY ENFORCEMENT AND INVESTIGATIVE DEVELOPMENTS _____________________________________ 6 Notable Corporate FCPA Enforcement Actions Resolved by the Justice Department and/or SEC __________________ 6 Justice Department and SEC Enforcement Actions against Individuals for Violations of the FCPA __________________ 11 Top U.S. Enforcement Officials Comment on FCPA ________ 13 FBI Reportedly Tripling Number of Agents Focused on Foreign Bribery __________________________________ 14 DOJ Releases Opinion Regarding Corporate Acquisitions ___ 14 Rounding Out the Enforcement Docket __________________ 15 SEC Whistleblower Program Update____________________ 18 DOJ Recovers Proceeds of Corruption under Its Kleptocracy Initiative _____________________________ 19 FCPA-Related Civil Litigation _________________________ 20 GLOBAL ANTI-CORRUPTION UPDATE ________________ 24 Developments in the United Kingdom ___________________ 24 Former SNC Lavalin Executive Pleads Guilty To Swiss Charges, Is Extradited To Canada To Face Additional Charges _ 27 Brazilian Authorities File Bribery Charges _______________ 28 Former Deutsche Securities Inc. Salesman Receives Suspended Sentence in Japanese Bribe Case ______________ 29 Italy Investigates Oil Company Eni SpA _________________ 29 OECD Releases Foreign Bribery Report _________________ 30 Transparency International Releases -
The 2008 Icelandic Bank Collapse: Foreign Factors
The 2008 Icelandic Bank Collapse: Foreign Factors A Report for the Ministry of Finance and Economic Affairs Centre for Political and Economic Research at the Social Science Research Institute University of Iceland Reykjavik 19 September 2018 1 Summary 1. An international financial crisis started in August 2007, greatly intensifying in 2008. 2. In early 2008, European central banks apparently reached a quiet consensus that the Icelandic banking sector was too big, that it threatened financial stability with its aggressive deposit collection and that it should not be rescued. An additional reason the Bank of England rejected a currency swap deal with the CBI was that it did not want a financial centre in Iceland. 3. While the US had protected and assisted Iceland in the Cold War, now she was no longer considered strategically important. In September, the US Fed refused a dollar swap deal to the CBI similar to what it had made with the three Scandinavian central banks. 4. Despite repeated warnings from the CBI, little was done to prepare for the possible failure of the banks, both because many hoped for the best and because public opinion in Iceland was strongly in favour of the banks and of businessmen controlling them. 5. Hedge funds were active in betting against the krona and the banks and probably also in spreading rumours about Iceland’s vulnerability. In late September 2008, when Glitnir Bank was in trouble, the government decided to inject capital into it. But Glitnir’s major shareholder, a media magnate, started a campaign against this trust-building measure, and a bank run started. -
Lessons for Europe from the 2008 Icelandic Bank Collapse
LESSONS FOR EUROPE FROM THE 2008 ICELANDIC BANK COLLAPSE HANNES H. GISSURARSON www.europeanreform.org @europeanreform Established by Margaret Thatcher, New Direction is Europe’s leading free market political foundation & publisher with offices in Brussels, London, Rome & Warsaw. New Direction is registered in Belgium as a not-for-profit organisation and is partly funded by the European Parliament. REGISTERED OFFICE: Rue du Trône, 4, 1000 Brussels, Belgium. EXECUTIVE DIRECTOR: Naweed Khan. www.europeanreform.org @europeanreform The European Parliament and New Direction assume no responsibility for the opinions expressed in this publication. Sole liability rests with the author. AUTHOR TABLE OF CONTENTS 1 INTRODUCTION 6 2 IMPLAUSIBLE NARRATIVES ON THE COLLAPSE 8 3 DID THE CENTRAL BANK FAIL? 14 4 THE SPECIAL INVESTIGATION COMMISSION 21 5 A PROBLEMATIC REPORT 28 Hannes Holmsteinn Gissurarson 6 THE ROLE OF EUROPEAN CENTRAL BANKS 39 Born in 1953, he holds a D.Phil. in Politics from 7 THE US FED REFUSES TO HELP 49 Oxford University and is Professor of Politics at 8 THE CLOSE-DOWN OF ICELANDIC BANKS IN THE UK 59 the University of Iceland. The author of more than a dozen books on political philosophy, 9 THE USE OF AN ANTI-TERRORIST ACT AGAINST ICELAND 74 history and current affairs, he is the research 10 FIVE LESSONS FROM THE ICELANDIC BANK COLLAPSE 85 director of RNH, the Icelandic Research Centre SOME BOOKS IN ENGLISH ABOUT THE COLLAPSE 93 for Innovation and Economic Growth. New Direction - The Foundation for European Reform www.europeanreform.org @europeanreform Lessons for Europe from the 2008 Icelandic bank collapse Hannes H. -
The Truth About Cambridge Analytica-SCL: Psy-Ops by UK-US Deep State Actors
The Truth About Cambridge Analytica-SCL: Psy-ops by UK-US Deep State Actors By Julie Hyland Region: Europe, USA Global Research, March 26, 2018 Theme: Intelligence World Socialist Web Site The scandal surrounding Facebook’s relationship with Cambridge Analytica, the election data company previously associated with former Trump campaign Chairman Steve Bannon, dominates the media in the US and Britain. The serious privacy concerns involved in the harvesting of the personal information of some 50 million Facebook users was underscored by Britain’s Channel 4 News. An undercover investigation filmed Cambridge Analytica CEOAlexander Nix boasting of dirty tricks operations to ensnare politicians and subvert elections. But while the disclosures are being used to bolster hysterical claims of “Russian meddling,” a closer examination reveals that the real and far more fundamental threat to democratic rights involves psy-ops programmes run by elements of the British and US deep state. Cambridge Analytica’s parent company is British-based SCL. Formerly Strategic Communication Laboratories, it is a private behavioural research and strategic communication company, founded in 1993 by Nigel Oakes. The son of Major John Waddington Oakes and a former boyfriend of Lady Helen Windsor, Oakes was formerly employed by Margaret Thatcher’s favourite advertising agency, Saatchi & Saatchi, before establishing SCL. As with Oakes, SCL’s board members include scions of the British ruling class, from former military officers and defence contractors to major Conservative Party donors. Lord Ivar Mountbatten, third cousin to Queen Elizabeth, is on the board, while CEO Roger Gabb is a millionaire wine merchant, a former British special forces officer and major contributor to the Tory Party. -
Middle East Eye.Net (Website), Accessed June 26, 2019
NOTES INTRODUCTION: THE RED SEA CONSPRACY AND THE GRAND BARGAIN 1. “David Hearst,” Middle East Eye.net (website), accessed June 26, 2019. https:// www.middleeasteye.net/users/david-hearst; David Hearst, “Exclusive: The Secret Yacht Summit That Realigned the Middle East,” Middle East Eye, March 19, 2018. https://www.middleeasteye.net/fr/news/george-nader-yacht- how-mbs-salman-red-sea-summit-mbz-sisi-plotted-qatar-turkey-jordan-saudi- gcc-arab-league-867425259 2. David Hearst, “Exclusive: The Secret Yacht Summit That Realigned the Middle East,” Middle East Eye, March 19, 2018. https://www.middleeasteye. net/fr/news/george-nader-yacht-how-mbs-salman-red-sea-summit-mbz-sisi- plotted-qatar-turkey-jordan-saudi-gcc-arab-league-867425259 3. “Contributor: David Hearst,” HuffPost, accessed June 26, 2019. https:// www.huffpost.com/author/davidhearst129-926 4. David Hearst, “Exclusive: The Secret Yacht Summit That Realigned the Middle East,” Middle East Eye, March 19, 2018. https://www.middleeasteye. net/fr/news/george-nader-yacht-how-mbs-salman-red-sea-summit-mbz-sisi- plotted-qatar-turkey-jordan-saudi-gcc-arab-league-867425259 5. David Hearst, “Exclusive: The Secret Yacht Summit That Realigned the Middle East,” Middle East Eye, March 19, 2018. https://www.middleeasteye. net/fr/news/george-nader-yacht-how-mbs-salman-red-sea-summit-mbz-sisi- plotted-qatar-turkey-jordan-saudi-gcc-arab-league-867425259 6. Dexter Filkins, “A Saudi Prince’s Quest to Remake the Middle East,” New Yorker, April 2, 2018. https://www.newyorker.com/magazine/2018/04/09/a- saudi-princes-quest-to-remake-the-middle-east 7. -
Ahli United Bank Building a Pan-Regional Bank Based in the Gcc
Volume XXVI, Number 1 Autumn 2015 £5.95 The Global Magazine of the Arab Bankers Association (ABA) AHLI UNITED BANK BUILDING A PAN-REGIONAL BANK BASED IN THE GCC IRAQI BANKS LOOK TO THE FUTURE HENLEY & PARTNERS AND LONDON & CAPITAL RESIDENCY, CITIZENSHIP AND INVESTMENTS SAUDI FINANCIAL MARKETS PREPARING FOR CHANGE THE FIGHT AGAINST FINANCIAL CRIME HOW TO ENGAGE WITH CHINESE BANKS UNDERSTANDING THE DIAMOND MARKET OVER £742M DRAWN DOWN BY MFL CLIENTS DURING 2014 7UJLHNHPU^VYRPUN[`WPJHSS`VUH;=++-;;764AIHZPZ5.4OHZHZZPZ[LKJSPLU[Z^P[O+7584-<-, HUK,:)?6,7?6MHJPSP[PLZVMHSTVZ[T,LHSZYHUNLPUZPaLMYVTJT^P[OUV\WWLYSPTP[ :LNHYKSLZZVM[OLZPaLVM[OLKLHS5.4^PSS[YLH[`V\PU[OLZHTLWYVMLZZPVUHSTHUULY œLSVUNLZ[HISPZOLK[LHTH[5.4PZH[[OLMVYLMYVU[VMZ[Y\J[\YLKYLHSLZ[H[LUHUJPUNWYVK\J[Z ?LTHPU[HPUYPNVYV\ZHUKSVUNZ[HUKPUNYLSH[PVUZOPWZ^P[OSLUKLYZVSKHUKUL^[VLUZ\YLV\Y JSPLU[ZOH]L[OLTH_PT\TL_WVZ\YL^OLUZLLRPUNUHUJL œLTHYRL[WSHJLMVYSLUKLYZOHZPUJYLHZLKK\YPUNHUK^LOH]LZLLUHKYHTH[PJU\TILYVM UL^LU[YHU[ZHUKL_JP[PUNSLUKLYZYL[\YUPUN[V[OLTHYRL[œLWYPJPUNPZNYHK\HSS`PTWYV]PUN^P[O THYNPUZHUKSLUKPUN[LYTZPTWYV]PUNPUYLJLU[TVU[OZ Riverside Tower Penthouse Residential Equity Release Residential Development Investment Industrial Property THE PROPOSAL THE PROPOSAL THE PROPOSAL œLJSPLU[^HZHUL_WLYPLUJLK œLJSPLU[Z^LYLHOPNOUL[^VY[O œLJSPLU[^HZHULZ[HISPZOLKWYVWLY[` YLZPKLU[PHSKL]LSVWLY^P[OHNVVK MHTPS`MYVT[OL5PKKSL-HZ[œL` SHUKSVYK^P[OHZ\IZ[HU[PHSWVY[MVSPV [YHJRYLJVYK0LOHKV^ULK[OLZP[L OHKV^ULKHZ\IZ[HU[PHSYLZPKLU[PHS VMPUK\Z[YPHSWYVWLY[PLZSVJH[LK^P[OPU SVJH[LKVUHWYPTLœHTLZZPKL WLU[OV\ZLHWHY[TLU[PU[OL:LNLU[Z