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FCPA, CEOs and risk assessments

Tom Fox | August 15, 2017

Jesse Eisinger and his new book The Chickenshit Club have rekindled the debate on whether the U.S. government was robust enough in its failure to seek prosecution of any business leaders who helped to bring on the financial crisis. In the FCPA world, we often see CEOs resign during or after a scandal involving corruption is made public. Certainly, in the wider world of corporate scandals, we have seen several high-flying CEOs resign for scandals that erupted during their watch. Witness Martin Winterkorn, formerly CEO of Volkswagen; John Stumpf, formerly CEO of Wells Fargo; and Travis Kalanick, formerly CEO of Uber as Exhibits A, B, and C.

Now we have another example, as reports indicate Ian Narev may resign as CEO of Australia’s largest bank, the Commonwealth Bank of Australia. The bank had been severely criticized for “failing to report more than 53,000... To get the full story, subscribe now.