On October 7th, 2011, the WSJ reported Allianz SE, Europe’s largest insurer, is close to reaching a settlement with the Securities and Exchange Commission over allegations that it paid bribes in Indonesia.
Read the WSJ article.
Munich-based Allianz SE is a Global Compact participant since 2002/07/02.
This blog provides information on how U.N. Global Compact participants' walk the talk. The GC is a voluntary initiative at the strategic level to engage businesses towards sustainability principles. There is however a risk of 'blue-washing' by covering up corporate misbehaviour and law infringement from large MNEs through poorly enforced 'Integrity Measures' and weak U.N supervision. Let's 'WE', civil society stay tuned!
My Blog List
Tuesday, October 11, 2011
Allianz SE Close To Settlement With SEC Over Bribery Allegations
Labels:
Allianz SE,
corruption,
FCPA,
Germany,
Indonesia,
SEC,
settlements
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