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Within the last decade there has been a concerted effort from a number of sources to control the pervasive and persistent problem of corruption among the international business community. Corruption undermines democracy and development, fundamentally distorts public policy, discourages...
Persistent link: https://www.econbiz.de/10014206539
U.S. regulators and Congress gave an increased level of scrutiny to recently approved international mergers involving a U.S. telecommunications firm merging with a company in which a foreign government owns a controlling interest. A foreign government that is friendly today has the potential to...
Persistent link: https://www.econbiz.de/10014206540
In the 1970s, Congress reacted to the financial wrongdoing of Lockheed Corp. and others by enacting SEC 102 of the Foreign Corrupt Practices Act (FCPA), which (1) requires corporations to keep records that accurately reflect financial transactions and (2) mandates a system of internal accounting...
Persistent link: https://www.econbiz.de/10014206707
Persistent link: https://www.econbiz.de/10001114848
The U.S. stood alone in its anti-bribery legislation from 1977 when the Foreign Corrupt Practices Act (“FCPA”) was initially passed until the Organization for Economic Cooperation and Development (the “OECD”) adopted the Convention on Combating Bribery of Foreign Public Officials in...
Persistent link: https://www.econbiz.de/10014206757
It has been argued that hedge funds were among the contributors to the fiscal crisis that arose from the securitization of subprime loans. The hedge fund industry, however, did not play a direct precipitating role in the events leading to the financial meltdown. Indeed, there is no one...
Persistent link: https://www.econbiz.de/10013141703