Weekly Industry News - Anti-Corruption/ FCPA & International Trade

Anti-Corruption / FCPA & International Trade – the latest on India’s anti-corruption bill, SEC bribery drops by two -thirds and more.

India’s Parliament Passes Anti-Corruption Bill by NIRMALA GEORGE Published on abc.com

India’s Parliament approved a landmark anti-graft bill on Wednesday that empowers an independent ombudsman to investigate and prosecute cases of corruption by politicians and civil servants. The “Lokpal,” or watchdog, bill was passed by the lower house of Parliament after the government agreed to several amendments suggested by opposition lawmakers. The bill cleared the upper house on Tuesday after fierce debate… [ Read More]

SEC Bribery Actions Drop By Two-Thirds by RACHEL LOUISE ENSIGN Published on WSJ.com

Foreign Corrupt Practices Act enforcement dropped steeply in fiscal 2013 by one measure. The Securities and Exchange Commission brought five FCPA enforcement actions in the fiscal year ended Sept. 30, down from 15 in fiscal 2012 and 20 in fiscal 2011, according to enforcement figures released by the agency Tuesday… [ Read More ]

JP Morgan Chase, the FCPA and Corruption of America by Robert Reich Published on ukprogressive.co.uk

The Justice Department has just obtained documents showing that JPMorgan Chase, Wall Street’s biggest bank, has been hiring the children of China’s ruling elite in order to secure “existing and potential business opportunities” from Chinese government-run companies. “You all know I have always been a big believer of the Sons and Daughters program,” says one JP Morgan executive in an email, because “it almost has a linear relationship” to winning assignments to advise Chinese companies… [ Read More ]