Three UK board members of Alstom, the French engineering group, have been arrested on suspicion of bribery and corruption after raids by the Serious Fraud Office. Three Alstom UK directors have been arrested as part of an SFO investigation into bribery and corruption. Alstom has contracts to build four power stations in the UK, such […]

A Bahraini minister is under investigation after being charged with laundering money from criminal enterprises, judicial officials said Wednesday. The former minister has been released on bail while investigations are underway, officials said, but prosecutors have imposed a travel ban on him and frozen his assets. On Tuesday, Bahrain’s prosecutor general charged Mansour bin Rajab, […]

AN INSPECTOR CALLS…EMERGENCY CHECKLIST – the Golden rules – General∙∙ Be polite but firm ∙∙ Stay calm, be factual∙∙ If you don’t know the answer to a question, say so∙∙ Tell the truth; never speculate even if asked to do so∙∙ Be helpful (non-compliance may be a crime) but don’t answer incriminating questions∙∙ Consider your […]

Global Financial Integrity: Privately Held, Non-Resident Deposits in Secrecy Jurisdictions – This report from Global Financial Integrity (GFI) on private, non-resident deposits in secrecy jurisdictions finds that the United States, United Kingdom, and the Cayman Islands are the most popular destinations for financial deposits by non-residents. Switzerland, Luxembourg, and Hong Kong also make the top […]

The German-based car company Daimler and three of its subsidiaries have been accused of paying bribes to a large number of foreign governments. The allegations were made in court papers filed in the United States. Daimler, which makes Mercedes-Benz cars and trucks, is said to have made payments from 1998 to 2008. The US Justice […]

The U.K. Financial Services Authority on Wednesday announced an arrest in its insider trading probe as French securities firm Exane confirmed one of its employees was among those questioned. Andrew Melrose, chief executive of the U.K. arm of Exane, said that Clive Roberts, a senior employee with the firm, had been questioned and that Roberts […]

Major corruption loopholes are jeopardising Egypt’s attempts to combat the problem despite the existence of a broad range of anti-corruption laws and regulations, according to a new report released today by Transparency International (TI). http://www.transparency.org/news_room/latest_news/press_releases/2010/2010_03_20_nis_egypt_english

The Financial Services Authority (FSA) published a consultation paper on effective corporate governance earlier this year. The paper reinforces the FSA’s renewed focus on the quality of firms’ governance and sets out proposed changes to the approved persons regime, the FSA’s expectations in relation to non-executive directors (NEDs) and implementing measures in support of Sir […]