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Hong Kong Moves to Limit Information on Executives

Neil Gough of The New York Times exposes pending legislation that would cloud existing corporate transparency in Hong Kong in his article which also appeared in the International Herald Tribune: “Hong Kong Moves to Limit Information on Executives.” Ben Rowse, comments on how these laws, included in a package proposed to the local legislatures, could greatly impact the way investors, investigators and journalists are able to do their jobs. “If these changes go through, it would be a sad day for Hong Kong, which generally has been a beacon of transparency in a region where opacity is rife.”

Ben continues on to mention the importance of the information these laws are trying to regulate, saying “[the information is] extremely important, particularly when you are trying to work out the existence of any related party transactions or conflicts of interest that may have not been disclosed to a potential investor or business partner.”read more

Low Hopes for FCPA Guidance

Samuel Rubenfeld, writing for the WSJ’s Corruption Currents blog, reports that industry experts have “low expectations for a coming guidance on US foreign bribery law.” Dan Nardello, one of the experts consulted, remarked, “anybody acting for clients in this space sees the need, certainly, for more certainty and more clarity around numerous issues,” adding, “I don’t think it’s going to change unless they take a more reasonable approach than they have. The act is prosecutorially defined.”read more

US Weighs Retail Sweep after Wal-Mart Bribery Scandal

Aruna Viswanath provides commentary on the impact that the Wal-Mart scandal has had on strategies employed by US regulatory agencies. “They have taken an industry-based enforcement approach, and I’m sure this has piqued their interest and gotten their prosecutorial juices flowing,” says Dan Nardello when explaining a possible motivation for a wide-ranging anti-corruption probe.read more