Wednesday, February 27, 2013

Magyar Telekom executives regulated by US anti-corruption laws

Against corruption in telecoms: "A judge in the Southern District of New York denied three Hungarian nationals’ motion to dismiss charges brought by the Securities and Exchange Commission (SEC) related to violations of the Foreign Corrupt Practices Act (FCPA). In SEC v. Straub (1:11-cv-09645), the SEC brought a lawsuit against the three individuals for an alleged bribery scheme involving government officials in Macedonia. Despite the fact that the Hungarian nationals worked for a Hungarian company and the alleged bribery occurred with foreign nationals outside of the United States, the SEC asserted that it had jurisdiction over the individuals because the company was traded through American Depository Receipts listed on the New York Stock Exchange." 'via Blog this'

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