DPAs are agreements between prosecutors and companies that essentially say authorities won’t prosecute fraudulent activity if a company agrees to pay a fine and get its regulatory house in order. Corporate leaders should know that the US and UK have different DPA systems in place.
This month, UK authorities announced that they've launched an investigation into KPMG’s conduct related to an audit of Roll Royce’s financial statements. The investigation appears to be part of a trend of holding auditing firms accountable for policing their clients’ financial behavior.
Och-Ziff, one of the world's largest hedge funds, is being investigated for FCPA violations related to activities in Africa. The investigation is evidence that US authorities are increasingly intent on holding individuals accountable for corporate fraud. It's also a strong reminder to US companies of the risks involved when engaging intermediaries to facilitate business transactions abroad.
Welcome back to Global Glance. This week we look at how a Chinese insurance company may be changing the nature of M&As, FIFA’s surprising claim to victimhood, and a strange and lavish soccer school in rural China.
Welcome back to Global Glance.This week we look at: China’s massive state layoffs and zombie plants; Nigeria’s ghost workers; and Barclays’ Africa exit.
In this week's Global Glance we look at a Spanish case that may force a company to bottle Coke against its will, cracking down on illicit financial flows from Africa, and a travel jacket company that received $9 million in Kickstarter Funding.
Corruption is one of the stickier issues organizations must navigate when expanding into new countries. With companies such as JP Morgan battling alleged corruption charges in China, cases like this illustrate the potential pitfalls of operating abroad. Overseas, many forms of corruption remain widespread. Check out Corruption's Big 3: North Korea, Somalia and Afghanistan.
This October, Wal-Mart announced the premature end of its joint venture with retailer Bharti Enterprises in India and the indefinite suspension of its retail plans there. It’s a telling sign that despite government efforts to solicit foreign direct investment – especially in retail – there remain significant obstacles for outside firms hoping to reach the Indian market.
If you’ve expanded into a foreign country, you’ve experienced the transition to a whole new set of laws and business regulations. Foreign laws governing business practices are frequently difficult to adjust to and sometimes quite frustrating. But once in a while, foreign business laws can also be downright surreal. Here are four favorites we’ve come across. We think you might learn something even from these head-scratchers.