by: Kachina Shaw
A unit of Deutsche Bank AG is under investigation in Japan for alleged compliance violations involving entertainment spending with clients. Deutsche Bank is also conducting an “internal investigation,” according to The Wall Street Journal Online.
J.P. Morgan Chase and others are under investigation by the Securities and Exchange Commission for hiring relatives of officials in China, which the SEC could find has violated anti-corruption and anti-bribery rules. Chinese officials may also become involved, looking into other possible violations of Chinese law, as the investigation proceeds (the hiring of officials’ children is not illegal in China).
Expansions of legislation, like Brazil’s new anti-bribery law, set to go into effect in January 2014 and add liability for corporations and their agents, where once only individuals could be charged with corruption, will bring fresh requirements, as well.
In a fascinating interview on Live Mint, British Standards Institution Global Chief Executive Officer Howard Kerr talks about his recent work implementing an anti-bribery management system in India meant to address the UK Bribery Act of 2010.
This article was written by Kachina Shaw and originally published on itbusinessedge