In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments from the past month, with links to primary resources. This month we ask: Which country hosted a first-ever international anti-corruption summit? What new anti-corruption legislation has DOJ proposed? Which court dealt the SEC a serious setback when it comes to disgorgement, and what does the IRS have to say about the deductibility of disgorgement payments? What is the SFO up to these days? And who is the newest FCPA Unit Assistant Chief? The answers to these questions and more are here in our May 2016 Top Ten list:

1. UK Hosts International Anti-Corruption Summit. On May 12, 2016, David Cameron hosted an international anti-corruption summit in London to establish a united global response to corruption. The summit was attended by representatives from 40 countries, including 11 heads of state. A number of concrete developments arose out of the summit, including: (i) the creation of a global forum to step up international efforts to recover stolen assets held overseas; (ii) a commitment from the UK to obligate offshore shell companies and other entities that buy or already own UK property to declare their beneficial owners (this constituted a widening of the recent commitment by the UK to become the first G20 country to set up a publicly accessible register of beneficial owners of UK shell companies); (iii) streamlining of the Mutual Assistance framework through the creation of an International Anti-Corruption Co-Ordination Centre headquartered in London, which will work in partnership with experts within the crime agencies of the U.S., Canada, Australia, New Zealand, and Switzerland (as well as INTERPOL) to assist prosecutors in obtaining information; (iv) an agreement to make public procurement contracting open by default, with an obligation on governments that keep details secret to explain why; and (v) an agreement by 33 of the nations in attendance to embed their summit commitments within national action plans, which would be subject to independent monitoring every two years.