Included in this issue: BRIBERY AND CORRUPTION: Malaysia's Leader, Najob Razak, Faces U.S. Corruption Inquiry | Former Brazil Workers' Party treasurer sentenced for corruption | Romanian prime minister to face corruption trial | Was Tom Hayes running the biggest financial conspiracy in history? | CYBER CRIME: SEC issues cyber security initiative | Xi Jinping seeks to ease hosts' fears as US visit begins | FRAUD: Wandsworth man jailed for £1m wine investment fraud | MONEY LAUNDERING: Bitcoin seller to train enforcement officials | SANCTIONS: Standard Chartered faces new scrutiny over Iran business ties | TAX: Landfill tax £78m fraud probe arrests across North East | GENERAL: VW emissions scandal | FCA beefs up enforcement committee with swathe of big hires

Bribery and Corruption    
  
Malaysia's Leader, Najob Razak, Faces U.S. Corruption Inquiry

A federal grand jury is examining allegations of corruption involving the prime minister, Najob Razak, and people closest to him. 

The New York Times, 21 September 2015

Former Brazil Workers' Party treasurer sentenced for corruption

The former treasurer of Brazil's governing Workers' Party, Joao Vaccari Neto, has been sentenced to 15 years and 4 months in jail for corruption and money laundering. Mr Vaccari was accused of channelling money from alleged corruption at the state oil giant, Petrobras, in the form of corporate donations. The former director of Petrobras was also sentenced to 20 years and 8 months. 
BBC, 22 September 2015

Romanian prime minister to face corruption trial

Victor Ponta, Romania's prime minister, was formally indicted on Thursday on charges of forgery, money laundering and being an accessory to tax evasion. Mr Ponta has denied all accusations against him. 

BBC, 17 September 2015

Was Tom Hayes Running the Biggest Financial Conspiracy in History?

Bloomberg explores Hayes' defence that Libor rigging was an industry wide practice at the time, and how times have changed in the Banking industry since 2007. 

Bloomberg, 14 September 2015

Cyber Crime

SEC Issues Cyber security Initiative

The US Securities and Exchange Commission (the SEC)  has announced that the Office of Compliance Inspections and Examinations (OCIE) will be conducting a review of registered broker-deals and investment advisers' cyber security preparedness. 

JDSupra Business Advisor, 22 September 2015

Xi Jinping seeks to ease hosts' fears as US visit begins

Chinese President Xi Jinping pledged on Tuesday that it would work with the United States to address cyber crimes. 

The Telegraph, 23 September 2015

Fraud

Wandsworth man jailed for £1m wine investment fraud

Jonathon Braybrook was the director of sham online broker Le Bordeaux Wines Limited. The company purported to sell vintage bottles of wine that did not exist and money Mr Braybrook offered clients for selling their wine never materialised. 

BBC News, 23 September 2015

Money Laundering

Bitcoin Seller to train Enforcement Officials

Pascal Reid, accused of money laundering after selling bitcoins to an undercover agent, has agreed to train law enforcement officials about the cyber currency in exchange for a reduced charge. 

Bloomberg, 16 September 2015

Sanctions

Standard Chartered faces new scrutiny over Iran business ties

Market Watch reports on an investigation published by the Financial Times which suggests that Standard Chartered Bank is continuing to do business with Iran and Iranian-related companies. 

Market Watch, 21 September 2015

Tax

Landfill tax £78m fraud probe arrests across North East

HMRC said it was looking into a "suspected systematic abuse of the landfill tax system" and fourteen people have been arrested in dawn raids in relation to the suspected £78m landfill tax fraud. 

BBC News, 23 September 2015

General

VW emissions scandal

Volkswagen says 11 million vehicles worldwide are involved in the scandal that has erupted over its rigging of US car emissions tests. It said it was setting aside £4.7bn to cover costs of the scandal. VW shares were down almost 17% on Tuesday in Frankfurt, after losing 19% on Monday. Martin Winterkorn, Chief Executive of Volkswagen, resigned on Wednesday.

German Financial Regulatory, Bafin, has announced that it will examine the trading of shares in Volkswagen AG after disclosure of the scandal.

The UK Department of Transport has called for an EU-wide investigation into the affair.

It is understood that other manufacturers also face being involved in the scandal. 
Various, 21-23 September 2015

FCA beefs up enforcement committee with swathe of big hires

The City watchdog has appointed 10 new members to its influential committees covering areas from competition to punishment, with lawyers, regulators and City representatives all being called up. 

The Telegraph, 22 September 2015