August 25th, 2011
As many of our readers know, the Foreign Corrupt Practices Act (FCPA) is
under assault by the Chamber of Commerce and some members of Congress. This valuable statute prohibits domestic companies from bribing foreign officials for the purpose of obtaining or retaining business opportunities abroad and has a purposefully broad reach, extending to any company operating globally with securities registered in the U.S.
It should go without saying this kind of corruption undermines the integrity of foreign governments and competitive business practices internationally. In spite of this, the Chamber of Commerce wants to “reform” the statute so corporations can more easily...
August 25th, 2011
Libya: Moammar Gadhafi and His Billions Are Unaccounted For ABC World News With Diane Sawyer, August 23, 2011 Tracking Assets in the Arab Spring Wall Street Journal, August 25, 2011 “Lenient” UK-Swiss tax evasion deal provokes criticism The Telegraph, August 25, 2011 A Quick Guide To The Lokpal Bills Wall Street Journal, August 24, 2011
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August 24th, 2011
The tax deal between the UK and Switzerland
initialed today is reported to:
retrospectively tax existing banking relationships in Switzerland, persons resident in the UK should be given one chance to make an anonymous lump-sum tax payment. The size of this tax burden will vary from between 19% to 34% of the assets in question, and will be determined based on the duration of the client relationship as well as the initial and final amount of the capital. Instead of such a payment, those affected should also have the possibility of disclosing their banking relationship in Switzerland to the British authorities.
To...
August 24th, 2011
WASHINGTON, DC – Comparable to the dogged pursuit of Al Capone by Eliot Ness, “
Chasing Madoff” is the compelling story of Harry Markopolos and his team of investigator's ten-year struggle to expose the truth behind the infamous Bernie Madoff scandal. Over the course of a decade, Markopolos pieced together a chain of white-collar crooks including international bankers, lieutenants, and henchmen, linked to Madoff’s devestating Ponzi scheme.
As the investigation deepened, the danger posed to Markopolis and his team grew. Finding himself trapped in a web of deceit and intimidation, the once unassuming Boston securities analyst turned vigilante investigator...
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