Several months ago, I received a call from the general counsel of a multinational corporation concerned about new anti-corruption laws that are now part of the international business law landscape. He was particularly concerned with the recently enacted UK Bribery Act, which he characterized as the FCPA “on steroids.” While the UK’s Bribery Act certainly… Continue Reading
Category Archives: Corporate Governance
Subscribe to Corporate Governance RSS FeedInternational Law Practitioners Love the International Law Quarterly.
Posted in Business Transactions, Corporate Governance, Dispute Resolution, International Banking, International LitigationThe spring edition of the Florida Bar’s International Law Quarterly (ILQ) is out. The ILQ is quickly becoming required reading for any international lawyer. As Editor-in-Chief Alvin F. Lindsay points out, each issue of the ILQ strives for a balance of scholarship and practical articles that will be useful to all international practitioners. The spring edition… Continue Reading
3 Things Every U.S. Company Must Know About the IRS’ New Foreign Accounts Reporting Requirement.
Posted in Corporate GovernanceWorking overseas is a great experience. Along with the cultural experience it brings, working abroad is a sure fire way for an employee to earn a promotion once he or she returns home to the U.S. The arrangement also establishes the U.S. company as a true international player. In today’s globalized economy, nothing beats that… Continue Reading
Global Compliance Symposium, Washington, D.C. March 31 & April 1, 2011
Posted in Corporate GovernanceAs global business markets spring back to life, it’s never been more important to stay on top of compliance and regulatory issues around the world. For in-house counsel, keeping up with multi-jurisdictional regulatory regimes often requires the assistance of support staff and outside counsel. As an international business attorney based in Miami, Florida, I’m often… Continue Reading
Corruption in Legal Systems Persist Around the World. And Will Continue.
Posted in Business Transactions, Corporate Governance, International Arbitration, International Banking, International Litigation, Random Thoughts and ObservationsAshby Jones of the Wall Street Journal’s Law Blog, just published an article on the findings of a major global survey on corruption released today at the 2010 International Bar Association (IBA) Annual Conference in Vancouver, Canada. While it comes as no surprise that corruption persists in many jurisdictions around the world, many in… Continue Reading
Harvard Study Explores Link Between Human Rights and Corporate Securities Law
Posted in Corporate GovernanceOver at the Harvard Law School Forum on Corporate Governance, there’s an insightful article on the results of a research project that examined whether and how corporate and securities law in more than 40 jurisdictions around the world currently fosters corporate respect for human rights. It is believed to be the first in-depth, comparative study… Continue Reading
Swiss Banks: Not a Good Place for International Icons of Intrigue to Stash Their Cash (But Still Great for Everyone Else).
Posted in Corporate GovernanceJames Bond , Jason Bourne and other international icons of intrigue may soon need to look elsewhere to keep their secret bank accounts. A Swiss parliamentary committee recommended yesterday that the full Parliament back an agreement with the United States to hand over the bank details of UBS’ 4,450 American clients in spite of Switzerland’s… Continue Reading
Goldman Sachs’ Annual Report: It’s All Smoke and Mirrors.
Posted in Corporate GovernanceAs an international business attorney, I read my fair share of annual reports– both domestic and foreign. While the amount of information disclosed in the reports varies widely depending on the industry and country, most reports fall on the far left of the transparency continuum i.e. on the fringe of what the law requires. … Continue Reading
Global Corporate Tax Trends for 2010: An Overview of 183 Countries.
Posted in Business Transactions, Corporate Governance, International InvestmentsThe World Bank Group’s Doing Business Project recently released the 2010 edition of its Paying Taxes Report. The report is unique in that it measures the ease of paying taxes across 183 economies, by assessing the time required for companies to prepare and file tax returns and pay taxes, and also the company’s total tax… Continue Reading
Switzerland and United States Reach Landmark Agreement in UBS Tax Case
Posted in Business Transactions, Corporate Governance, International Banking, International LitigationSwiss Parliament Must Still Approve Amended Protocol The CBS news magazine 60 Minutes featured a story on January 3, 2010 concerning the tax controversy between Switzerland and the United States over Switzerland’s secretive banking industry. At the time, it appeared there would be no end in sight to the impasse. 60 Minutes: A Crack in… Continue Reading
UK Investors Offered Amnesty Under Liechtenstein Tax Deal
Posted in Business Transactions, Corporate Governance, International BankingIn a trend that could spread to other jurisdictions, Liechtenstein is asking wealthy UK investors who have assets hidden abroad to take advantage of its “unique and attractive” amnesty program. The agreement reached between the UK and Liechtenstein combines generous terms with a promise by the principality to close the accounts of customers who could… Continue Reading
Are You Sure Your China Business Operations Do Not ViolateThe Foreign Corrupt Practices Act ? Don’t Be an Unwitting FCPA Violator
Posted in Corporate GovernanceIts incredible how every business discussion these days centers on China. While the U.S. and Europe struggle to get things moving, China continues to dominate the world’s leading economic indicators. GNP. check. GDP. check. FDI. check. As more U.S. companies shift production to China, competitive forces have upped the ante for businesses to deliver the… Continue Reading
The Ultimate Hidden Fee: U.S. Based Multinational Companies Face $122 Billion Tax Burden Under Proposed Bill
Posted in Business Transactions, Corporate Governance, International Investments, Random Thoughts and ObservationsAnd Why Relocating to Switzerland May be the Best Corporate Strategy There’s nothing more annoying than finding hidden fees buried deep inside obtuse and mangled contract language. The only thing worse than finding hidden fees is learning about these punishing provisions from someone else—after you’ve signed the agreement. If you thought hidden fees provisions were… Continue Reading
Ch-Ch-Ch-Changes: SEC Switches Position and Issues Disclosure Guidance on Material Risks Impacting International Climate Change Accords.
Posted in Corporate GovernanceSEC Wants to Know: Is Your Carbon Footprint a "Material Risk" to International Climate Change Agreements? Climate Change is a red hot area right now and is a top priority of discussion this week at the World Economic Forum in Davos, Switzerland. It seems that everyone is throwing their hat into the ring in… Continue Reading
The Great Firewall of China: How Lessons from the Apartheid Era Can Lift the Information Curtain
Posted in Corporate Governance, Random Thoughts and ObservationsCorporate Codes of Conduct Played a Major Role in the Collapse of Apartheid in South Africa and Are a Viable Means to End Digital Censorship in China. The remarks of U.S. Secretary of State Hillary Clinton yesterday that “we stand for a single Internet where all of humanity has equal access to knowledge and… Continue Reading
Minimize Corporate Governance Issues in Closely-held Corporations with Multiple Large Shareholders
Posted in Corporate GovernanceA must read study examining corporate governance issue in closely-held corporations was recently published by the Harvard Law School Forum on Corporate Governance and Financial Regulation. Closely-held Corporations Integral part of Global Economy The study is important to business owners and shareholders all over the world given the integral role closely-held corporations play in the… Continue Reading
2010 Index of Economic Freedom Released: United States Ranks Eighth
Posted in Corporate Governance, Dispute Resolution, International InvestmentsThe Wall Street Journal and the Heritage Foundation released its annual 2010 Index of Economic Freedom. Of the world’s 20 largest economies, Hong Kong ranked first while the U.S. came in at number eight. According to the Wall Street Journal article, The U.S. is Not as Free as It Used to Be, a number… Continue Reading
2009 Corruption Perception Index Released: Can You Guess Where the U.S. Ranked?
Posted in Corporate GovernanceThey say timing is everything. Following on the heels of my last post about the Foreign Corrupt Practices Act, comes Transparency International‘s hot-off-the-presses 2009 Corruption Perception Index The Index focuses on corruption in the public sector and uses surveys to establish how much corruption is perceived to exist within the country. This year’s worst included… Continue Reading
SEC Steps Up Enforcement of Foreign Corrupt Practices Act: Is Your Company Ready?
Posted in Corporate GovernanceLast month, I was honored to attend a press conference and speak with Robert F. Kennedy’s daughter, Kerry Kennedy, founder of the Robert F. Kennedy Center for Human Rights. The press conference centered on Mrs. Kennedy’s recent tour of the toxic drilling sites in the Amazon province of Sucumbios in Ecuador in connection with the ongoing… Continue Reading
About Santiago A. Cueto
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Board Certified International Law Expert and Founding partner Santiago A. Cueto focuses his practice on international business law with an emphasis on international business litigation, arbitration and transactions. His practice is based in Miami, Florida.
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