The Enron and WorldCom collapses mirrored a global phenomenon, which included scandals in the UK, Europe and Australia, where the collapse of the HIH Insurance group constituted the largest corporate failure in Australian history. These scandals, and the international regulatory responses to...

The collapse of Eastern European socialist economies was a key developments which brought comparative corporate governance issues to the forefront in the early 1990s. It also provided the basis for a unique corporate governance experiment, designed to transform Russia into a US-style market...

The United States Securities and Exchange Commission (SEC) issued the rules for Disclosure of Payments by Resource Extraction Issuers for the third time in March 2021. This was prescribed by Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010). These...

Українську версію цієї статті можна знайти тут: 'http://ssrn.com/abstract=3012191' http://ssrn.com/abstract=3012191Russian Abstract: Рассмотрено возникновение и развитие производного (косвенного)...

“A House of Cards Falls: Why ‘Too Big to Debar’ is All Slogan and Little Substance” is a critical response to the article, "FCPA Sanctions: Too Big to Debar" by Drury D. Stevenson and Nicholas J. Wagoner, which aptly demonstrates a common, yet fundamentally flawed understanding of the...

Increased international commerce between the United States and faster growing economies such as The People’s Republic of China (PRC), as well as third world economies rich in natural resources but poor in infrastructure like Nigeria, have created the potential for significant exposure to...

Foreign Corrupt Practices Act (FCPA) enforcement activity is currently at its highest level since enactment of the statute in 1977. There were more enforcement actions brought in 2007 than in the years from 2004 to 2006 combined. The message is clear - the U.S. Government is committed to FCPA...

Soon we can expect a new type of company: the European Private Company (Societas Privata Europaea – SPE) aimed at small and medium-sized enterprises in the EU. In this article, we analyse how creditors of future SPEs will be protected. In the first part, we identify on a general level how...

The U.S. Suspension & Debarment regime is designed to ensure that the federal government does business only with “responsible” partners. One of the most fundamentally (and frequently) misunderstood aspects of the FAR 9.4 suspension & debarment system is that these tools are only to be used...

In a previous publication The Board’s Responsibility for Information Technology Governance, (with Kara Altenbaumer-Price) we examined: The IT Governance Institute’s Executive Summary and Framework for Control Objectives for Information and Related Technology 4.1 (COBIT®); reviewed the Weill...