AOL’s Money and Finance Section put together a slideshow of 18 famous financial criminals, with their crimes and what they are doing now: Financial Felons: Where Are They Now? Read more »
Effective Date for FINSA and CFIUS Regulations
The final regulations were published in the Federal Register on November 21 and will become effective on December 22, 2008. Read more »
Implementation of Foreign Investment and National Security Act
Davis Polk & Wardwell attorneys Margaret M. Ayres and Jeanine P. McGuinness prepared a memorandum entitled FINSA Final Regulations (.pdf) discussing the final regulations issued by the U.S. Department of the Treasury to implement the Foreign Investment and National Security Act of 2007. That law amended the 1988 “Exon-Florio” statute and made significant changes to … Read more »
Leading Corporate Integrity: Defining the Role of the Chief Ethics and Compliance Officer
Fellows of the Ethics Resource Center, Business Roundtable Institute for Corporate Ethics, the Ethics and Compliance Officer Association, the Open Compliance and Ethics Group (OCEG), and the Society of Corporate Compliance & Ethics put together Leading Corporate Integrity: Defining the Role of the Chief Ethics and Compliance Officer (pdf). Senior corporate executives are under great … Read more »
Specially Designated Nationals and Blocked Persons List Updated
Here are the new bad guys on the OFAC’s Specially Designated Nationals list: AW-MOHAMED, Ahmed Abdi (a.k.a. ABUZUBAIR, Muktar Abdulrahim; a.k.a. AW MOHAMMED, Ahmed Abdi; a.k.a. “ABU ZUBEYR”; a.k.a. “GODANE”; a.k.a. “GODANI”; a.k.a. “SHAYKH MUKHTAR”); DOB 10 Jul 1977; POB Hargeysa, Somalia; nationality Somalia (individual) [SDGT] EL HABHAB, Redouane (a.k.a. “ABDELRAHMAN”), Iltisstrasse 58, Kiel 24143, … Read more »
Violation Reporting under the Federal Acquisition Regulations
Government contractors have new reporting requirements under the Federal Acquisition Regulations. Beginning December 12, 2008, contractors and subcontractors performing federal contracts—irrespective of monetary value or duration—will be legally obligated to disclose to the relevant federal agency’s Office of Inspector General credible evidence of federal criminal law violations involving fraud, conflict of interest, bribery or gratuities; … Read more »
Update to the Federal Acquisition Regulations
The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (Councils) have agreed on a final rule amending the Federal Acquisition Regulation (FAR) to amplify the requirements for a contractor code of business ethics and conduct, an internal control system, and disclosure to the Government of certain violations of criminal law, violations of the … Read more »
Even Rocket Scientists Get Caught Under The FCPA
Shu Quan-Sheng (Shu), 68, a native of China, naturalized U.S. citizen and Ph.D. physicist, entered a guilty plea before Judge Henry C. Morgan, Jr. in U.S. District Court for the Eastern District of Virginia, Norfolk Division to charges that he illegally exported space launch technical data and defense services to the People’s Republic of China … Read more »
Comments on CFIUS
Over at Sheppard Mullin’s Government Contracts Blog, Lucantonio N. Salvi put together a summary of comments to the draft CFIUS regulations: Comments On Proposed CFIUS Rules Range From Cautious Praise To Outright Criticism. [T]he U.S. Department of the Treasury published on April 21, 2008 proposed rules designed to strengthen the process by which the Committee … Read more »
FCPA Presentation by Sheppard Mullin
Bethany Hengsbach of Sheppard Mullin published a slidedeck all about the Foreign Corrupt Practices Act: The FCPA: What Our Clients Need to Know and Why They Need to Know it? Read more »