06 April 2008

Rise in City Police in bid to stop fraud

This is not "Scotland Yard", home of the Metropolitan Police. This is the City of London police, another of those quaint British mediaeval anomalies. The important seachange is near he bottom of the article: Mark Pieth, the chairman of the OECD working group on bribery, said: 'The findings from this research are remarkable. Those surveyed are employed to protect their companies from prosecution; calling for more prosecutions is not in their self-interest. But companies' integrity has been called into question by the failure of authorities to properly investigate and prosecute instances of bribery. Nowhere is this more acute than in the UK where, despite high profile cases, no prosecution has been brought in the 10 years since the UK government adopted the OECD anti-bribery convention.'
The research is a survey of legal and compliance officers in the City of London [the Square Mile] part of the European Survey of Corporate Integrity [oxymoron there, surely?] This must be the first time these people have actively supported intervention against insider trading. They'll be getting ethics next!

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