In this issue:

- NFA Amends CPO and CTA Quarterly Reporting Requirements

- SDNY Imposes Second Highest Penalty Under Foreign Corrupt Practices Act

- Grand Jury Indicts Swiss Lawyer and Banker in Tax Evasion Scheme

- FDIC and OCC Propose Limits on Deposit Advance Loans

- Excerpt from: SDNY Imposes Second Highest Penalty Under Foreign Corrupt Practices Act

The US District Court for the Southern District of New York recently ordered Uriel Sharef, a former Siemens AG board member and German citizen accused of bribing Argentine government officials, to pay a $275,000 civil penalty pursuant to a settlement agreement with the Securities and Exchange Commission. This is the second-highest civil penalty imposed on an individual under the Foreign Corrupt Practices Act (FCPA).