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In September 2022, Deputy Attorney General Lisa Monaco outlined the Department of Justice (DOJ) approach to enforcing corporate misconduct and directed agencies to review existing voluntary self-disclosure policies or, if none exist, draft new ones. Jardine Lloyd Thompson Group Holdings Ltd.
On May 7, the Malaysian government launched its 2024-2028 National Anti-Corruption Strategy (NACS), a continuation of its 2019 National Anti-Corruption Plan (NACP) that ended in 2023. The country enjoyed comparatively marginal improvements, rising to 61st in 2022 and 57 in 2023. billion) between 2018 and 2023.
Treasury Department and Financial Crimes Enforcement Network (FinCEN) to craft regulations for the recently established Anti-Money Laundering (AML) Whistleblower Program that are consistent with the United States’ global anti-corruption agenda. s anti-corruption agenda.
On May 6, Andrea Gacki gave prepared remarks at the SIFMA AML Conference where she spoke about the new whistleblower program, which was reformed into a best-practice whistleblower program by the passage of the AML Whistleblower Improvement Act in December 2022. FinCEN has also failed to publish draft rules for the whistleblower program.
On December 14, the Department of Justice (DOJ) announced that Freepoint Commodities LLC, a Connecticut-based commodities trader, had agreed to a three-year deferred prosecution agreement (DPA) to resolve a DOJ investigation into violations of the Foreign Corrupt Practices Act (FCPA).
The three senators, who were instrumental in leading the Senate to its unanimous passage of the Act at the end of 2022 , wrote that “We were proud to introduce and pass this legislation because it provides vital support to U.S. ’” FinCEN has also failed to publish draft rules for the whistleblower program.
On its part, the Respondent raised several objections to the jurisdiction of the Tribunal, specifically pointing to several instances of corrupt and illegal acts allegedly committed by Worley at the making and during the operation of the investment. Worley may have willfully failed to monitor and investigate Tecnazul’s corrupt activities.
Originally published in the 2022 ProcureCon Report “Transforming Procurement: Embracing Digital Innovation and Driving Sustainability” Ethical business practices and sustainability initiatives are forcing organizations to not only stand up, but to also set themselves apart from the competition by implementing ESG and CSR commitments.
In instances of active waste, such suboptimal decisions are motivated by personal gain, as exemplified by corruption. For LAC countries, digital technologies can be an important ally in achieving this balance. This continuous data flow strengthens public trust by minimizing corruption risks and reaffirming a commitment to transparency.
1782/2022 (Commercial) , the DCC did not allow the claimant to have recourse to the courts to hear his claim. 1514/2022 (Commercial) (also discussed in a prior blog post ). The General Assembly has a number of powers amongst which is the power to consider and decide on points of law, which are complex, new or of significant importance.
She’s also just been elected President of the African Public Procurement Network (APPN), which convenes procurement authorities from 54 countries and she emphasizes the importance of building on existing foundations to strengthen the network’s support for public procurement in Africa. Rwanda’s debarment regime was also revised in 2022.
From late 2019 through 2022, the United States Fish and Wildlife Service (FWS) issued twenty-one whistleblower awards to individuals who provided high-quality information about wildlife crime. From November 21, 2019 through August 12, 2022, FWS paid out twenty-one whistleblower awards. In contrast to FWS, other U.S.
How domestic courts approach challenges to arbitration awards is of increasing importance as foreign parties often decide to seat an arbitration in a jurisdiction that they believe will provide the greatest stability to governing the arbitration process.
On April 24 2022 Serik organized a public event in the Academy highlighting approaches promoting interaction between government institutions and civil society in procurement. Rachmaninov went on to organize his own distance learning course for experts and activists in September 2022, with a mini-grant from the School.
We are also very pleased that we achieved one of the closest gender balances in survey responses last year, closing the gap between Men and Women from a 22% differential in 2022, to an 11% differential in 2023. These will be important points to double down on in our new strategy.
In April 2024, a law passed by the Investment Authority opened the import, wholesale, retail and export (of raw coffee, khat, oilseeds, pulses, hides and skins, forest products, poultry and livestock bought from the local market) sectors to foreign investments. The digital financial services sector was just recently liberalized in 2022.
In the 2022 case of Omega Engineering LLC and Oscar Rivera v. Additionally, the Claimants claimed that Panama’s actions included a smear campaign, which involved a criminal investigation into corruption allegations against Mr. Rivera, damaging his global reputation. Republic of Panama (ICSID Case No.
The importance of the subject matter of the claim has been confirmed by several court decisions (e.g., As such, in the final analysis, the subject matter of the claim is likely a more important factor than the parties against which the claim is brought. most recently, Decision No. 2023/PN.Jkt.Sel and Decision No.
The Arbitration Bill followed the latter approach, showing the importance of statutory recognition of emergency arbitration. The Law Commission in its Final Report (July 2023) rightfully departed from its initial recommendation, thus acknowledging the importance of section 44(5).
ICSID reported that, out of the new forty-five registered cases, twenty-one were brought against Latin American and Caribbean states (the annual report covers the fiscal year from July 1, 2022 to June 30, 2023). Corruption allegations in arbitration proceedings relating to Peru remain very common. As reported by Hon.
Vision 2030 highlights the importance of providing equal opportunities for men and women in all sectors. Other steps to foster gender diversity include the adoption in 2022 by the Saudi Cabinet of Ministers of its Decision No. That same year, KSA launched its Vision 2030 with the aim of achieving economic diversification in the KSA.
While there is progress to be made in the thought leadership space and in ensuring greater independence from governments, Professor Rajoo considered the conference as an important opportunity “ to contribute to the collective momentum propelling us towards groundbreaking advancements in the field of arbitration” in Asia.
The general importance of climate change-related disputes can be measured on the steady increase of cases which are being brought by environmental advocacy organisations or governments in anticipation of the massive costs related to adapting to or mitigating climate change. 2 O 285/15 Essen High Court).
Sobota highlighted significant legislative measures enacted by the United States, such as the CHIPS and Science Act of 2022 and the Inflation Reduction Act of 2022 , aimed at bolstering domestic technology production and imposing restrictions on semiconductor imports.
The keynote address also offered insights into ICC case statistics, revealing Paris as the consistent top choice throughout the years, 2008-2022, except for two instances in 2019 and 2021 when London briefly took the lead. Closing off, Ms.
For example, Article 34(6) of the Dubai International Arbitration Centre Rules 2022 (“ DIAC Rules ”) provides that “ [i] f signed in ink, the award shall be signed on each page. 42 of 2022. More importantly, a party may consider enforcing the award in a jurisdiction where electronically signed awards are not enforceable.
While the introduction of these tools was generally met with approval, a position paper resulting from a conference of several presidents of higher courts in Germany in 2022 implies that AI is not poised to substitute the human decision-making process in the immediate future.
The KSA’s Government Tenders and Procurement Law also received an important update in June 2023 with the issuance of Resolution No. An SCCA study of Saudi arbitration-related case law between 2017-2022 revealed that out of 131 annulment applications brought in Saudi courts, 92% were denied and only 3.8%
He emphasised the importance of arbitration to business and society, particularly owing to the present burden on the courts. This 2022 Supreme Court judgment followed the leading Supreme Court judgment from 2016 (U.2016.1558/2H), A Need for a New Danish Arbitration Act? The Supreme Court decision (U.2022.1117)
decisions made by referees or umpires or juries), unless there are fraud or corruption allegations, but this is a high threshold to reach. In this respect, the panelists referred to the well-known saying “ the most important thing is not to win but to participate ”. This does not cover field of play matters (i.e.,
2078 (June 13, 2022), certain Circuits permitted parties to private international commercial arbitrations to avail themselves of U.S. In June 2022, the Supreme Court issued its unanimous decision in ZF Automotive holding that §1782 did not apply to international commercial arbitrations. 21-MC-2547 (MKB) (RML), 2022 U.S.
A recent ruling by the Chilean Supreme Court has clarified the extent of control that Chilean tribunals can exert when reviewing the procedural rules applied in arbitration awards seeking recognition in Chile ( see Case N° 133.313-2022 , dated 27 July 2023). Claimant filed its enforcement petition on 21 October 2022.
On 16 November 2022, the tribunal rendered the arbitral award (“the Award”) obliging NHP to compensate Thywissen damages, interest, and arbitration costs, including legal costs. Pesa case and referred to the ECtHR’s practice which emphasised the importance of a judge’s impartiality (established in Kyprianou v. Cyprus and Revtyuk v.
Introduced in 2019, this law emphasized the importance of economic freedom, good faith, and the respect for contracts. That is why the Brazilian Economic Freedom Act might be important after all. Gazprom (2022), as well as the decisions issued in Portugal by the Court of Appeal of Lisbon ( Proc. 3409/21.2T8BRG.G1 [2022]).
The German Federal Court of Justice (“BGH”) set off a heated debate when it vacated an arbitral award based on the false application of certain sections of the German Competition Act (GWB) on September 27, 2022 (BGH KZB 75/21), conducting a full review of the arbitral award on the merits.
Early this year, the European Union (“EU”) finalized the required internal procedures for the entry into force of the Sustainable Investment Facilitation Agreement concluded between the European Union and the Republic of Angola on 18 November 2022 (“SIFA” or the “Agreement”).
Decision 4A_575/2022 (7 August 2023) concerned a dispute arising from a licence agreement for the operation of a telecommunications network in a part of the southern Republic of Sudan (now the Republic of South Sudan), concluded on 15 October 2003 between C. Decision 4A_486/2022 (26 April 2023) concerned a tennis player (A.)
It is now important for the Centre to show that it is independent and efficient with a commitment to promote ADR services in Asia and beyond. This is one of the most important features that will assist in the enforcement of the Islamic arbitration awards.
The panel also stressed the importance of delivering on environmental and cultural commitments in order to build positive relationships and avoid disputes. The panel also noted the continued positive perception of arbitration within the energy sector, as reported in Queen Mary University of London’s 2022 Energy Arbitration Survey.
As a State seeking to be a full participant in the global order, South Africa recognised, while establishing the judiciary as guardian of its constitutional democracy, that alternative forms of dispute resolution would also be important in ensuring access to justice and legal services.
” Verónica Valle, Director, ChileCompra Transparency and access to information In late 2023, ChileCompra introduced a campaign called “Stop Corruption”, to promote the Observatory’s channels for citizens to submit confidential complaints. The higher a procedure’s score, the more rules have potentially been broken.
This has resulted in two consultation papers being published in 2022 and 2023 involving significant input from various stakeholders and the bill has now been presented before the House of Lords.
Supreme Court of Chile, 71.508-2022, 05 October 2023 Laura Aguilera Villalobos, Centro de Arbitraje y Mediación de la Cámara de Comercio de Santiago (CAM Santiago), ITA Reporter for Chile The Supreme Court of Chile grants exequatur, recognizing and authorizing the enforcement of a foreign arbitration award from France, based on Law No.
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