Wednesday, January 21, 2015 13:38
Norway may be no. 5 on the Transparency International Corruption Perception Index published last week. But it isn't corruption free. Todays article is from friend of thebriberyact.com, the excellent Frode Elgesem. Frode gives us the Norwegian legal context and a run down of recent cases and a taster of things to come with the next cases slated for January 2015. By Frode Elgesem - Partner Thommessen, Oslo Norway Enforcement in Norway shed light on general issues pertaining to the application of anti-corruption legislation. The ambition behind the 2003 reform of Norway’s anti-corruption legislation was no less than to establish the world’s strictest regime. The legislation has wide international reach and covers both bribery committed in Norway and in any other place in the world. Bribery outside Norway involving only foreigners is also covered. Prosecution in such cases is absolutely thinkable when there is a Norwegian nexus, but requires a separate decision by ...
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By Michael Ruck, Senior Associate Pinsent Masons (formerly with FCA enforcement) In the spirit of regulatory togetherness the SEC and FCA have both announced they will focus on financial crime, including bribery and sanctions breaches, within the financial services industry. The story was covered in some detail in the Financial Times. This will result in an increase in the number of investigations of senior management, greater prosecutions of individuals, a focus on firm systems and controls and investigation of potentially fraudulent accounting procedures (the FCA recently passing on its investigation of Tesco in favour of allowing the SFO to investigate). Whilst the FCA is likely to refer any criminal prosecutions in the UK to the SFO to ensure its general desire to see senior management behind bars rather than facing fines alone, the spirit of international co-operation is being touted as extremely strong following the work on the Libor and FX investigations. The ...
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News & what’s on
BREAKING: SFO Christmas present – Smith & Ouzman & two former Directors convicted of bribes using ‘Chicken’
SME's and those working for them should take note. Yesterday, in a Christmas themed prosecution, the SFO successfully obtained convictions of Smith and Ouzman Ltd, its former Chairman and Sales and Marketing Director who were convicted following an SFO investigation into corrupt payments made for the award of business contracts to the company. Merry Christmas Smith and Ouzman is a security printer, and the supplier of many of the Christmas vouchers for some of the UK’s top high street retailers. The Company's other security printing services ranging from financial services to event ticketing and election and government. The SFO press release reports that the corrupt payments were made to public officials for business contracts in Kenya and Mauritania, often under the guise of 'chicken'. Smith and Ouzman Ltd was convicted of three counts of corruptly agreeing to make payments, contrary to section 1(1) of the Prevention of Corruption Act 1906. Christopher John Smith, former chairman of Smith and ...
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Bribery Act & Proceeds of Crime
The SFO has successfully prosecuted its first series of Bribery Act convictions. On Friday the SFO reported that "Gary Lloyd West, former Director and Chief Commercial Officer of SAE, James Brunel Whale, former Director, Chief Executive Officer and Chairman of SGG and Stuart John Stone, Director of SJ Stone Ltd, a sales agent of unregulated pension and investment products, were convicted of Bribery Act 2010 offences at Southwark Crown Court." The first SFO convictions are of individuals, not a corporate and related to a good old fashioned boiler room fraud scheme. But they are significant. Media focus has been and remains on the investigation and prosecution of exotic (normally overseas) bribery and fraud involving corporate fat cats and corporations operating in the City of London and other financial centres. This case was none of the above and at the unglamorous end of SFO investigations - though importantly commenting on the verdict David Green, SFO ...
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Your Questions: Answered
Richard Bistrong: Q&A “…it is pretty clear that the current compliance models, while essential, are still not working.”
An interview with Richard Bistrong. You must read it. Find out about bribery from the front line from someone who has been there, seen it, done it and got the jumpsuit. Where did you go to school, university etc? First, Barry, I want to thank you for inviting me to thebriberyact.com, and for giving me the opportunity to exchange perspectives with you and your community. I really enjoyed our discourse at the Pinset Masons Regulatory Symposium and I appreciate the chance to continue the dialog. As to education, I went to undergraduate school at the University of Rochester where I received my bachelors in Political Science, cum laude with high honors, which included studies at the Institute for European Studies in Vienna. Immediately thereafter I commenced graduate studies at the University of Virginia, where I received a Masters of Arts in Foreign Affairs in 1987. At the Regulatory Conference, I think we ...
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