The U.K. Serious Fraud Office stands ready to assist the U.S. Securities and Exchange Commission with inquiries into whether financial firms violated foreign bribery laws in their dealings with sovereign-wealth funds.
But as of Friday, the office wasn’t looking into specific banks, SFO Director Richard Alderman said in a statement to Bloomberg. The statement runs counter to the news service’s report Wednesday that said the SFO was already helping U.S. authorities in the probe, citing an interview with Alderman himself.
Alderman, in his statement, said he “indicated that should the SFO be asked we would assist our U.S. colleagues in any way we could.”
Corruption Currents has requested a copy of the statement and is waiting to hear back from the SFO’s press shop.
The SEC is examining whether banks might have violated the Foreign Corrupt Practices Act in dealings with the Libyan Investment Authority, The Wall Street Journal reported last month. The FCPA bars companies from bribing foreign officials, including employees of sovereign funds and go-betweens.
In a separate probe, the SEC has asked banks, hedge funds and private equity firms to turn over information about their business with national public pension funds and other sovereign-wealth funds.
Source: http://blogs.wsj.com
But as of Friday, the office wasn’t looking into specific banks, SFO Director Richard Alderman said in a statement to Bloomberg. The statement runs counter to the news service’s report Wednesday that said the SFO was already helping U.S. authorities in the probe, citing an interview with Alderman himself.
Alderman, in his statement, said he “indicated that should the SFO be asked we would assist our U.S. colleagues in any way we could.”
Corruption Currents has requested a copy of the statement and is waiting to hear back from the SFO’s press shop.
The SEC is examining whether banks might have violated the Foreign Corrupt Practices Act in dealings with the Libyan Investment Authority, The Wall Street Journal reported last month. The FCPA bars companies from bribing foreign officials, including employees of sovereign funds and go-betweens.
In a separate probe, the SEC has asked banks, hedge funds and private equity firms to turn over information about their business with national public pension funds and other sovereign-wealth funds.
Source: http://blogs.wsj.com
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