The Guidance to the new anti-bribery law was released this morning. Heather Lowe, Legal Counsel and Director of Government Affairs at Global Financial Integrity, released the following statement about the Guidance earlier today:
"The UK Government has taken an iron-clad piece of legislation that, if applied as written, would have put UK and U.S. companies on a level playing field when it comes to preventing bribery and corruption and turned it into rubber. The Guidance to the Bribery Act published by the UK Ministry of Justice today molded the previously strong standards of corporate liability set out...
Sanctions Against Libya Test Banks, Companies Wall Street Journal, March 30, 2011 WikiLeaks Politics: India Survives its Week of Leaks Hot Hit News, March 29, 2011 Government bows to pressure from business to allow bribery through the back door Global Witness, March 30, 2011 Our view: Fix corporate taxes to increase competitiveness USA Today (Opinion),
As the United States budget deficit currently looms large in the national conversation, Lesley Stahl of CBS News’ 60 Minutesexplored American companies’ use of tax havens this past Sunday (Watch the full segment in the video below). Every year, U.S. companies avoid paying $60 billion in tax by moving the “headquarters” of their corporations abroad, at least on paper. As Stahl notes, this is not a new issue as American companies also moved their assets abroad in...
There is trouble in the world of microfinance.
Muhammad Yunus, the founder of Grameen Bank, a winner of the Nobel Peace Prize, and a pioneer of microlending, is in some hot water. Earlier this month, the government of his home country, Bangladesh, ordered him out of his post as head of Grameen bank for failure to comply with the nation’s retirement laws, which mandate the retirement of company heads at the age of 60. Yunus has already met his 70th birthday.
Yunus' Grameen Bank (which, incidentally, also funded the Grameenphone, a topic of another blog) is a pioneer in...
