Podcast: International Finance Corporation (IFC) Impact Investing Standards
FCPA Compliance and Ethics Report-Episode 122-with Matt Kelly on Alstom, Avon and Petrobras
Under mounting pressure from advocates and stakeholders—most prominently the United States government—the World Bank recently rescinded its longstanding ban on financing nuclear power projects and announced its plan to...more
The World Bank Group (WBG) recently revised two key sanctions system procedures to account for 10 to 15 years of sanctions case development and issue management. Companies and individuals participating in WBG-financed...more
El Ministerio de Hacienda y Crédito Público de Colombia, a través de la Unidad de Regulación Financiera, el 8 de noviembre de 2024, expidió el Decreto 1358 de 2024 con el objetivo de definir los criterios para determinar la...more
The global finance industry has been undergoing a significant shift in recent years, with investment patterns showing a slow but steady pivot towards Low Income, Lower Middle Income, and Upper Middle Income nations, as...more
As the Covid pandemic appears to be subsiding worldwide, the World Bank Group and its affiliated multilateral development banks may be ramping up their investigations of sanctionable practices including corruption, fraud, and...more
On February 9, 2023, Treasury Secretary Janet Yellen spoke at the Center for Strategic and International Studies, urging the World Bank to “evolve” and be “bolder and more imaginative” in its operational approach to tackling...more
Ignoring integrity risks in emerging markets when receiving financing from the World Bank Group (WBG) is about to become much riskier, as the WBG Sanctions System Annual Report for Fiscal Year 2022 (FY22) indicates. The...more
The Guidance Note aims to support Equator Principles Financial Institutions navigating the environmental and social due diligence process. In July 2022, the Equator Principles Association published a Guidance Note on how...more
All the hits—and let’s be honest . . . mostly inflation and its staying power—from Treasury Secretary Yellen’s trip to the Hill on Tuesday, including admissions that her and Chair Powell’s frequent use of the term...more
Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption developments from the past month, with links to...more
Southwest Airlines canceled hundreds more flights to start the week, though its operations were closer to normal after a weekend that saw the carrier nix almost 2000 flights. The company blamed a mix of weather problems, “air...more
BCBS rules on NPL securitisations: PRA CP10/21 extended closing date The Prudential Regulation Authority (PRA) has announced that it has extended the closing date, from 26 July 2021 to 9 August 2021, for responses to its June...more
Pillsbury partner and Public Policy group leader Elizabeth Vella Moeller recently sat down with Matthew McGuire, former Executive Director of the World Bank under President Obama, to discuss the Biden administration’s...more
One key facet of the Angolan government's recent reforms is the Privatization Framework Law (Law No. 10/19, enacted in May 2019 and approved by Presidential Decree no. 250/19 in August 2019). This Decree will govern Angola's...more
Pay attention to sanctions and debarment risks amid new COVID-19 financing opportunities. In recent weeks, the World Bank, the African Development Bank (AfDB) and other multilateral development banks (MDBs) have greenlit...more
The COVID-19 crisis has placed extraordinary pressures on the global financial system. The impact on developing countries—particularly in Africa—is dramatic, creating sudden and unexpected risks for states and investors. Oil...more
In response to the COVID-19 "call to action" from the World Bank and the IMF, the G20 announced a debt service suspension initiative (the "DSSI") on 15 April, supporting an NPV-neutral, time-bound suspension of principal and...more
ANTICORRUPTION DEVELOPMENTS - DOJ Files Superseding Indictment in Haitian Port Corruption Plot - On October 30, 2018, the U.S. Department of Justice (DOJ) filed a superseding indictment in the District of Massachusetts...more
• Companies that operate globally face substantial risks associated with activities funded by multilateral development banks (MDBs). • Several recent debarment actions by the World Bank highlight those risks. • To...more
ANTICORRUPTION DEVELOPMENTS – Global Compliance Overhaul for SAP as DOJ and SEC Investigate Payments Allegedly Related to South African Government Contracts – On October 26, 2017, German software company SAP SE...more
Compliance officers at financial institutions have made great strides in improving Know Your Customer (KYC) programs to focus on knowing their customers as a critical function in combating money laundering. As regulators...more
On June 4, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) issued no-action relief from introducing broker (IB) and commodity trading advisor (CTA) registration to persons...more