Major bribery scandals, record enforcement actions, unprecedented cross-border coordination and prosecutions—all this amid a global pandemic made 2020 an unforgettable year for FCPA enforcement.
Jaclyn Jaeger
Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal, enforcement, technology, and more. Prior to joining CW, she spent four years as a legal reporter for Lawyer’s Weekly. Jaclyn attended undergraduate school at St. Joseph’s College of Maine and graduate school at Emerson College, earning degrees in journalism.
Posted inAccounting & Auditing, ESG/Social Responsibility, Ethics & Culture, Financial Services, Internal Controls, Regulatory Enforcement, Risk Management, Technology
Top ethics and compliance failures of 2020
From a massive accounting fraud scandal in Germany to deceitful consumer tactics among China-based companies to unethical practices on the environmental front in the United States—CW’s list of the top ethics and compliance failures of 2020 spans the globe.
Posted inAccounting & Auditing
Gartner report: How coronavirus has altered audit risks for 2021
The coronavirus pandemic has dramatically altered the risk landscape for chief audit executives and audit departments by exacerbating long-standing risks while giving rise to new ones, a new report by research and advisory firm Gartner finds.
Posted inBoards & Shareholders
Nasdaq to SEC: Adopt listing rules requiring board diversity disclosures
Nasdaq has filed a proposal with the Securities and Exchange Commission to adopt new listing rules that would impose board diversity disclosure requirements.
Posted inAnti-Bribery
SBM Offshore FCPA case ends, Swiss investigation begins
SBM Offshore confirmed it has reached the end of its three-year deferred prosecution agreement with the Department of Justice for FCPA violations, but the oil and gas services company is now facing a fresh corruption investigation from Swiss enforcement authorities.
Posted inAccounting & Auditing
Lookers discloses $60.5M loss following accounting fraud probe
After delaying for eight months its 2019 audited financial statements, U.K. car dealership chain Lookers has disclosed a £45.5 million (U.S. $60.5 million) loss following discovery of accounting fraud by a former employee.
Posted inAnti-Bribery
Asia corruption report cites government issues, bribery prevalence
Transparency International’s latest look at corruption and bribery trends in Asia reveals issues at the highest ranks of government, particularly at the parliamentary and senate level.
Posted inFinancial Services
Why OCC ‘Fair Access to Financial Services’ proposed rule is a win-lose
How can true cooperation be achieved when the solution being proposed is essentially to pit high-risk, controversial banking customers against the banks with which they want to do business, wonders Jaclyn Jaeger.
Posted inAnti-Bribery
Apple’s chief security officer (and former CCO) accused of bribery
Apple Chief Security Officer Thomas Moyer, who served as the company’s chief compliance officer for nearly a decade, is facing accusations that he offered bribes in the form of iPads to California state officials in exchange for concealed firearms licenses.
Posted inAnti-Bribery
Four years later, Odebrecht’s external monitorship ends
Odebrecht has reached the end of its compliance monitorship, four years after pleading guilty and resolving charges with authorities in the United States, Brazil, and Switzerland for violations of the Foreign Corrupt Practices Act.
