I recently wrote about banks behaving badly. Currently, Exhibit A in that list is HSBC. In December, 2012, the UK banking giant HSBC agreed to pay a fine of $1.92 billion for its transgressions involving money laundering. Today I want to look at the violations which the company engaged in and its resolution. Weiterlesen
FCPA: The HSBC AML Settlement – Lessons Learned for the AML Compliance Practitioner
Veröffentlicht unter Compliance USA
Verschlagwortet mit AML, Anti-Money Laundering, Background Checks, Compliance Programms, Deferred Prosecution Agreement, due diligence, FCPA, HSBC, Nietzer&Häusler, US-Gesellschaftsrecht
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The New York Family Office – Newsletter: 4. Quartal 2012
Hier kommen Sie direkt auf das Dokument, für welches sich Herr J. Arne Volkers, der den Newsletter für das Einstellen in diesen Blog genehmigt hat, als Autor urheberrechtlich verantwortlich zeichnet.
Veröffentlicht unter Allgemein
Verschlagwortet mit Direktinvestition, Immobilien, Nietzer&Häusler, Steuern, The New York Family Office, US-Gesellschaftsrecht, Volkswirtschaftliche Betrachtung, Wirtschaft und Unternehmen, Zahlen & Daten
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Most ridiculous lawsuits: Suit claims Spurs violated state law
The San Antonio Spurs are being sued by a lawyer who is alleging the team violated the state’s deceptive and fair trade practices law.
On Monday, Larry McGuinness filed a class-action suit in Miami-Dade County, stating Spurs coach Gregg Popovich „intentionally and surreptitiously“ sent their best players home without the knowledge of the league, the team and the fans attending the Nov. 29 game against the Miami Heat. McGuinness contends that he, as well as other fans, „suffered economic damages“ as a result of paying a premium price for a ticket that shouldn’t cost more. Weiterlesen
Veröffentlicht unter Allgemein, Klage
Verschlagwortet mit class action, Lawsuit, Miami Date County, NBA, Nietzer&Häusler, San Antonio Spurs, US-Gesellschaftsrecht
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ILR: The Now Even-Longer Reach of U.S. Law Over Foreign Corporations
Corporate Counsel | Dec 19, 2012
As global commerce has expanded beyond traditional territorial bounds, the jurisdiction of the U.S. courts has undergone a similar expansion. Long behind us are the days when a foreign corporation could consider itself comfortably beyond the reach of a U.S. court so long as it maintained no „physical presence“ in that court’s geographical jurisdiction.
The Now Even-Longer Reach of U.S. Law Over Foreign Corporations
Veröffentlicht unter Allgemein
Verschlagwortet mit Department of Justice, International, Nietzer&Häusler, U.S. Law over foreign corporations
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FCPA: Internal Audit Review of Charitable Donations Under the FCPA
When is a rose not a rose? When it is a charitable donation not made for philanthropic purposes and it violates the Foreign Corrupt Practices Act (FCPA). I thought about that concept when reviewing the Eli Lilly and Company (Lilly) FCPA enforcement action brought by the Securities and Exchange Commission (SEC) late last month. The Lilly enforcement action discussed a bribery scheme utilized by Lilly in Poland. Weiterlesen
Veröffentlicht unter Compliance
Verschlagwortet mit Best Practices, Books and Records, Charitable Donations, Compliance programs, Department of Justice, Enforcement Actions, Internal Audit, Investigations, Nietzer&Häusler, SEC, US-Gesellschaftsrecht
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Most ridiculous lawsuits: Flying hot dog lands Royals‘ mascot back in court
KANSAS CITY, Mo. • Sluggerrr, the Kansas City Royals mascot, is going back to court.
A Missouri appeals court on Tuesday reversed a lower court decision in a lawsuit filed by John Coomer of Overland Park, Kan., against the Royals and their mascot. Weiterlesen
Veröffentlicht unter Klage
Verschlagwortet mit Baseball, General News, Law and Order, Legal Proceedings, Nietzer&Häusler, Sports, US Chamber of commerce, US-Gesellschaftsrecht
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ILR: UBS to Pay $1.5 Billion to Settle Libor Charges
Wall Street Journal | Dec 19, 2012
UBS AG became the second bank to settle accusations that it tried to rig benchmark interest rates, agreeing to pay roughly $1.5 billion in a deal with authorities in multiple countries that points to a broader manipulation scandal than previously known.
Veröffentlicht unter Allgemein
Verschlagwortet mit Department of Justice, Financial Services, Libor Charges, Nietzer&Häusler, UBS
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FCPA: Top Ten Enforcement Actions for 2012
As we welcome in 2013, it is appropriate to reflect back on some of the things which have occurred over 2012 and in the Foreign Corrupt Practices Act (FCPA) enforcement world, it was quite a significant year. The Department of Justice (DOJ) and Securities and Exchange Commission (SEC) both have used enforcement actions to educate compliance professionals on several different aspects of the FCPA and FCPA compliance. This is my list of what I believe to be the most significant enforcement actions over the past year and the lessons which can be drawn from them. Weiterlesen
Veröffentlicht unter Allgemein, Compliance USA
Verschlagwortet mit Department of Justice, Enforcement Actions, FCPA, Nietzer&Häusler, SEC, US Recht, US-Gesellschaftsrecht
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ILR: NY Appellate Court Dismisses Short-Sellers‘ Porsche Suit, Closes off Possible Morrison Escape Route
D & O Diary | January 2, 2013: In a decision that could foreclose a possible way for claimants to try to circumvent the U.S. Supreme Court’s decision in the Morrison v. National Australia Bank case, a New York appellate court has reversed a lower court and dismissed the fraud suit short-seller hedge funds had brought in New York state court against Porsche on forum non conveniens grounds.
Read more: NY Appellate Court Dismisses Short-Sellers‘ Porsche Suit, Closes off Possible Morrison Escape Route
Veröffentlicht unter Urteil
Verschlagwortet mit D & O Diary, International, Nietzer&Häusler, Securities Litigation, US Recht, US Surpreme Court
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FCPA: The CCO: Co-Equal to the General Counsel in the Eyes of the DOJ
One of the items that the Department of Justice (DOJ) has increasingly focused on in its enforcement actions is the role of the Chief Compliance Officer (CCO) and whether this position has adequate staffing and resources to accomplish its mandated tasks in a minimum best practices compliance program under the Foreign Corrupt Practices Act (FCPA). In the recent Pfizer Deferred Prosecution Agreement (DPA), it stated regarding the CCO position (called Chief Compliance and Risk Officer) that: Weiterlesen
Veröffentlicht unter Allgemein, Compliance USA
Verschlagwortet mit Best Practices, Chief Compliance Officer, Compliance programs, Department of Justice, FCPA, FCPA Guidance, Nietzer&Häusler, US-Unternehmensrecht
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