“Global Glimpses” follows compliance, risk, and corporate governance news both in Europe and around the world. It covers developments at the International Accounting Standards Board, as well as global regulation, anti-bribery, and corruption enforcement, along with other compliance developments abroad. Global Glimpses is written by contributor Paul Hodgson. Hodgson welcomes questions, comments, and statements from readers on global issues and will address them here when appropriate. Readers can contact him at email@example.com.
British engineering company Rolls-Royce has agreed to pay the United States nearly $170 million as part of an $800 million global resolution with U.S., U.K., and Brazilian authorities into a long-running bribery scheme. Jaclyn Jaegerreports.
Volkswagen will plead guilty and pay a total of $4.3 billion in criminal and civil penalties resulting from the company’s long-running emissions-cheating scandal. In addition, six Volkswagen employees are indicted in connection with the conspiracy. Jaclyn Jaegerreports.
Brazil-based petrochemical giant Braskem disclosed yesterday that it will pay a total amount of approximately US$957 million in penalties and damages to resolve a global settlement related to the massive corruption probe surrounding state-owned oil company Petrobras. Jaclyn Jaegerhas more.
The U.K. Serious Fraud Office said yesterday it has closed its investigation into London-based Soma Oil & Gas Holdings, Soma Oil & Gas Exploration Limited, Soma Management Limited, and others, related to allegations of corruption in Somalia. Jaclyn Jaegerreports.
Paul Hodgson provides a look at the Autorité des marchés financiers’ annual report on corporate governance and executive remuneration, which offers an in-depth analysis of compliance with the French governance code, AFEP-MEDEF.
Mining giant Rio Tinto has suspended Alan Davies, chief executive of its energy and minerals division, after uncovering potentially corrupt payments made to a consultant who was providing advisory services on an iron ore project in Guinea. Jaclyn Jaegerreports.