Weekly Compliance News - Around the World

GCSG's Weekly Compliance News feature is a compilation of some of the previous weeks interesting trade compliance, anti-bribery/corruption, fraud, and due diligence news bites, from around the world.

An illusion of choice: the conflicts that mire the audit world | Financial Times

"Most listed companies in Britain and the US use one of the Big Four auditing firms.  No fewer than 98 percent of FTSE 350 consituents have their books vetted by one of KPMG, EY, Deloitte or PwC...Conflicts are often hidden discreetly beneath the surface." (Click here for the article) - Global

Deutsche Bank reports show chinks in money laundering armor | Reuters

"Most listed companies in Britain and the US use one of the Big Four auditing firms.  No fewer than 98 percent of FTSE 350 consituents have their books vetted by one of KPMG, EY, Deloitte or PwC...Conflicts are often hidden discreetly beneath the surface." (Click here for the article) - Germany, European Union, Russia, Ireland, Spain, Italy, South Africa

US unveils next round of Chinese imports to face tariffs | BDP International

"The Trump administration on Tuesday unveiled a list of roughly $16 billion worth of imports from China that will be hit with 25% tariffs." (Click here for the article) - China, USA

US guidance on trade sanctions being reimposed on Iran | KPMG

"The US Treasury Department's Office of Foreign Assets Control today announced the following guidance concerning an executive order reimposing sanctions with respect to Iran..." (Click here for the article) - Iran, USA

Fourth Circuit Agrees with Walmart on Privilege Issue Relevant to FCPA Inquiry | FCPA Professor

"Walmart and the government seem to be at an impasse regarding resolution of Walmar'ts FCPA scrutiny first disclosed in late 2011...In late June 2018 the Fourth Circuit, in this decision, agreed with Walmart's position." (Click here for the article) - USA

US slaps export controls on dozens of Chinese firms over threat to national security | South China Morning Post

"Washington has slapped restrictions on dozens of key Chinese companies - including state-owned developers of military-use technologies such as air defence and satellite systems - for reasons of national security." (Click here for the article) - China, USA