Risk Link Roundup

Link Roundup

Here are a few recent articles that highlight issues impacting the world of risk and insurance, including blogs and articles about FIFA corruption, whistleblower programs—both pro and con—and the supply chain in outer space.

Iran, Russia Reject Idea of Joint Oil Output Cuts with Saudi Arabia
Reuters: Oil-producing countries looked unlikely to reach a deal to lift languishing prices at a meeting on Friday after Iran, Iraq and Russia swiftly rejected a surprise proposal that appeared to have been floated by Saudi Arabia.

16 Additional FIFA Officials Indicted for Racketeering Conspiracy and Corruption
U.S. Department of Justice: A 92-count superseding indictment was unsealed earlier today in federal court in Brooklyn, New York, charging an additional 16 defendants with racketeering, wire fraud and money laundering conspiracies, among other offenses, in connection with their participation in a 24-year scheme to enrich themselves through the corruption of international soccer.

Are Whistleblower Reward Programs Really a Good Idea?
FCPA Blog: Since the start of the SEC whistleblower program in 2011, the agency has awarded $54 million to 22 whistleblowers “who provided the SEC with unique and useful information that contributed to a successful enforcement action.”

Yes, We Need Whistleblower Rewards
FCPA Blog: Congress could not have been any clearer in its statutory design. Nor the SEC any more outspoken in its revitalized approach to government enforcement. Whistleblower rewards work.

Supply Chain Challenges in Space Exploration
OPS Rules Blog: Space supply chains are low demand and highly schedule driven. This might seem to be in contrast to commercial supply chains, which deal with high volume and compressed lead times. But applying the principles governing the commercial fast paced supply chains to the space supply chain can make it more agile and cost efficient.

Risk Link Roundup

Here are a few articles that caught my attention this week, highlighting some relevant issues impacting the world of risk and insurance. They include a look behind the recent toxic chemical spill into the Animas River in Colorado, how Bumble Bee’s outdated ovens caused a workers death, the DOJ’s expectations with compliance programs and the U.S. government’s appeal of the ruling on the AIG bailout.

What the Gold Mine Disaster Tells Us

The New York Times: The General Mining Law of 1872 is among the last surviving statutes of the boisterous era of westward expansion. Signed by Ulysses S. Grant, it establishes the basic rules for mining hard-rock minerals like gold, copper and uranium on public lands.

Bumble Bee Foods to Pay $6 million in Death of Worker in Pressure Cooker

Los Angeles Times: On one of his early morning shifts, Jose Melena stepped into a 35-foot-long cylinder-shaped oven at the Bumble Bee Foods plant in Santa Fe Springs. The 62-year-old father of six needed to make a quick repair inside the massive industrial pressure cooker, which is used to sterilize thousands of cans of tuna at a time.

What the DOJ Expects of ‘Effective’ Compliance Programs

National Law Review: If you have been keeping up with current U.S. Department of Justice (DOJ) antitrust investigations, you have no doubt noticed the hefty criminal fines that have been paid by violators of U.S. antitrust laws. In recent years, the United States government has literally collected billions of dollars in criminal fines.

U.S. Government Appeals Judge’s Ruling Over 2008 AIG Bailout

Reuters: The United States filed an appeal on Wednesday against a U.S. judge’s ruling in June that sided with former American International Group chief executive Maurice “Hank” Greenberg on a legal claim over the company’s 2008 bailout.