Today we conclude a multipart blog post series exploring one of the biggest corporate scandals of the 1990s, the Bre-X mining scandal. In our most recent blog post we explored the foundational lessons from the Bre-X scandal...more
As we close out this series on the Bre-X mining scandal, the lessons from this notorious case continue to resonate, especially for today’s compliance professionals. The fraud that led to the downfall of Bre-X and the ensuing...more
The Bre-X mining scandal of the 1990s is one of history’s most infamous corporate fraud cases. Bre-X Minerals Ltd., a small Canadian company, falsely reported one of the largest gold deposits ever discovered in Indonesia,...more
In the annals of corporate fraud, few scandals match the magnitude of the Bre-X mining affair. For compliance professionals, the lessons from this incident resonate deeply, not just because of the scale of the deception but...more
Few corporate scandals are still as infamous or devastating as the Bre-X mining scandal. What began as a story of incredible wealth, fueled by the promise of one of the largest gold deposits ever discovered, unraveled into...more
The United States has reversed its 2023 relaxation of certain sanctions against Venezuela in response to failures by representatives of Venezuela President Nicolás Maduro to uphold commitments outlined in a roadmap for...more
During arguments on Wednesday in the most significant environmental dispute before the U.S. Supreme Court this year, the Court's conservative justices expressed skepticism over the Environmental Protection Agency's efforts to...more
On October 18, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) eased certain sanctions on the oil and gas sector, as well as the gold sector, in Venezuela, following the announcement of a...more
Part 1: Permitted Investments and Compliance - The self-directed individual retirement account (IRA) is an increasingly popular option for an IRA account owner, especially those owners who have significant net worth and...more
On June 30, in Deutsche Bank AG v. Central Bank of Venezuela, the Court of Appeal of England and Wales handed down the latest judgment in the ongoing battle between the board of the Central Bank of Venezuela, or BCV,...more
On 21 July 2022, the EU expanded its Russia-related asset freeze list, adding 58 individuals and 11 entities, but also extended the available derogations. It now also prohibits imports of Russian gold and gold jewellry, has...more
The Department of Treasury issued additional sanctions against Russia, targeting almost 100 entities and individuals, and prohibited import of Russian gold. The United States’ latest action reflected commitments recently...more
The Bass, Berry & Sims international trade team is actively monitoring the situation in Russia and Ukraine and providing real-time advice to clients on managing the situation. This post summarizes new U.S. sanctions and...more
On June 27, 2022, the Biden Administration announced a new round of economic measures it is imposing in response to Russia’s invasion of Ukraine. The White House made the announcement in concert with the G7 leaders’ meeting...more
The decision clarifies the role of the English courts and the UK executive branch in the recognition of foreign heads of state and the ability of English courts to adjudicate the lawfulness of executive and legislative acts...more
Mining companies entered 2020 in good financial shape and have continued to secure finance despite disruption from COVID-19 - The mining industry has navigated the past nine months in better shape than most sectors, even...more
In 2020, the price of gold has jumped over 30 percent from $1,517 per ounce on January 3, 2020 to over $2,000 per ounce on August 6, 2020. The spike in the price of gold isn’t yet at the level reached in the 2017 Bitcoin boom...more
In September 2019, the World Gold Council (WGC) issued the Responsible Gold Mining Principles (RGMPs), setting out a framework for responsible gold mining across the mine life-cycle....more
Wells Fargo & Co. agreed to pay a total of $3 billion to resolve criminal and civil investigations by the DOJ and SEC. Wells Fargo admitted “that it took millions in wrongful fees and interest, misused customer information...more
This week’s summary includes updates on anti-money laundering in the crypto-friendly nation of Malta and a proposal to regulate cryptocurrency miners in the United States to help stop human trafficking....more