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Weekly Roundup: US Tags Chinese Bank with Enforcement Action, Hedge Fund Admits Corruption, and More
printThe U.S. Federal Reserve ordered the Agricultural Bank of China to produce within 60 days a written plan to overhaul the AML and transactional-monitoring programs of its New York branch, Bloomberg said. More U.S. hedge fund Och-Ziff and CEO Daniel Och will pay more than $412 million and $2 million respectively to defer prosecution for participating in a scheme to bribe officials in several African countries, Reuters said. The case marks the conclusion of the U.S. Justice Department's first case against a hedge fund for violating the Foreign Corrupt Practices Act. More U.N. sanctions on Iran's Bank Sepah and Bank...
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