Kweku Adoboli is the former UBS trader who took positions that led the firm to sustain a $2.3 billion dollar loss—as he dryly noted, “for which I took responsibility in September 2011—and to my eventual imprisonment.” What are the cultural lessons for compliance?
Tom Fox
Thomas Fox has practiced law for over 40 years. Tom writes the daily award-winning blog, the FCPA Compliance and Ethics blog and founded the Compliance Podcast Network. Tom leads the discussion on AI in compliance through his best-selling book Upping Your Game. He has 38 other books on the use of AI in compliance and business ethics, leadership including the seminal work, The Compliance Handbook, with its 7th edition coming out in 2025. He is the founder of the award-winning Compliance Podcast Network.
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Posted inAnti-Bribery
Public company scrutiny under the FCPA
A look at what could happen should Uber ever go public in terms of the books-and-record provision under the Foreign Corrupt Practices Act.
Posted inAnti-Bribery
Third-Party Risk Management Summit takes a deep dive
Get a recap of the Third-Party Risk Management and Oversight Summit, hosted by Financial Risk Associates and Compliance Week, which took an in-depth look at what companies are doing to manage third-party risks both on the sales and supply chain sides.
Posted inAnti-Bribery
The hard truths of the SQM enforcement action
The FCPA shows just how far its authority can extend when it comes to companies that blatantly disregard U.S. anti-corruption law.
Posted inAnti-Bribery
Brazil’s new approach to compliance
Brazil is taking a page out of U.S. businesses’ books and moving from paper compliance programs to actually doing compliance.
Posted inAnti-Bribery
Venezuela investigates PDVSA for corruption
A look at the ironic Venezuelan investigation into corrupt company Petróleos de Venezuela SA.
Posted inAnti-Bribery
New foundation to protect sports whistleblowers
A venture capitalist, a former United States federal prosecutor, and an Olympic gold medalist have formed a non-profit foundation, Fair Sport, to help mitigate risk for whistleblowers in the wide, wide world of sports.
Posted inAnti-Bribery
Deliberate ignorance and the FCPA
Tom Fox explores the term “conscious avoidance” under the FCPA, specifically in the case of Frederick Bourke, who invested in an enterprise in Azerbaijan that was engaged in bribery and corruption to obtain certain oil and gas rights of which Bourke claimed he had no knowledge.
Posted inEthics & Culture
Ethical questions from running
Tom Fox explores the case of new light-weight Nike footwear, scheduled to be released in June, which may violate standards set forth by the International Amateur Athletic Federation.
Posted inAnti-Bribery
Haiti Teleco—the sordid affair nears an end
The sordid 2011 Haitia Teleco matter may finally be winding down, as the last player was arrested in February for his involvement in payments of more than $1.4 billion to Haiti Telco representatives.