ANTICORRUPTION DEVELOPMENTS –
Canadian Mining Company Settles with SEC over FCPA Charges –
On March 26, Kinross Gold Corporation settled with the Securities and Exchange Commission (SEC) over its alleged failure to implement and maintain adequate anticorruption controls at two of its subsidiaries in Mauritania and Ghana. As part of the settlement, Kinross agreed to pay a civil penalty of $950,000. In a separate SEC filing, Kinross noted that the Department of Justice (DOJ) had declined to prosecute after conducting an investigation of these same issues.
South Africa’s Zuma Summoned to Appear in Court over Decade-Old Corruption Charges -
On March 26, South African law enforcement authorities summoned the former South African President Jacob Zuma to appear in court to face charges of corruption related to a military arms deal in which he was involved in the 1990s. Allegations of wrongdoing were first leveled against Zuma in 2005, and he was indicted in 2007, though the case was withdrawn in 2009, just a few weeks before he assumed the presidency. Prosecutors reinstated the charges earlier this month, following Zuma’s resignation at the behest of the leadership of his political party, the ANC, in February 2018. Zuma is scheduled to appear in court on April 6.
Please see full publication below for more information.
