Posted Friday February 27, 2015

Weekly roundup

Lifetime bans for executives of publicly traded companies, legal experts identify the model for handling bribery probes, and more

  • Big banks are forced to rethink their ambitions of offering all services in all regions due to increased global financial regulations, according to Bloomberg Business.
  • Executives of publicly traded companies could face lifetime bans for violating regulations according to the US Securities and Exchange Commission.
  • Goodyear Tires’ $16M settlement with regulators for bribery in Africa is described as the model for how companies should handle corruption probes by legal experts.

And finally, UK authorities have unveiled a new 12-month pilot project for a Joint Money Laundering Intelligence Taskforce (JMLIT) as investigators in New York question the extent of money laundering controls at major banks. Meanwhile, investigations by US authorities have highlighted how Mexican Cartels have used the financial sector to launder illicit money.

Arachnys weekly update:

New sources: 64

Source of the weekChina Labor Watch (CLW): Founded in 2000, CLW is an independent not-for-profit organisation which seeks to increase transparency of supply chains and factory labor conditions, advocate for workers’ rights, and support the Chinese labor movement

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