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Publication
Keeping your dawn raid guidance current
Unannounced inspections or ‘dawn raids’ are used by antitrust authorities to obtain evidence when there are suspicions that individuals or businesses have infringed the antitrust rules.
Author:
Global | Publication | February 2024
During a panel discussion at the 2024 Investing in Africa Mining Indaba, held in Cape Town in the week of 5 February, panellists engaged on the main corruption risks in mineral supply chains, the steps companies should take to adequately address bribery and corruption risks, challenges and opportunities for law enforcement and the role of strategic partnerships.
Bribery and corruption has long been back-of-mind in the mining industry, but often not talked about. The industry remains vulnerable to risks, particularly due to government interaction and administrative procedures. The high influx of capital and fast-paced nature of the industry, coupled with weak local governance exacerbates the issue.
As the industry transitions towards renewable energy and a low carbon economy, it is imperative that the topic be placed at the forefront of government and company agendas.
We discuss some of the key takeaways from the panel – and our experience in the industry – below.
Panellists emphasised the need for public-private collaboration – involving business, government, and civil society – to effectively promote and advance essential risk-mitigating factors, transparency, accountability, and disclosure.
It is essential that companies develop and implement adequate policies and procedures within their organisation to reinforce a culture of right and wrong, and to combine that with effective whistleblowing mechanisms. A company’s zero-tolerance approach to bribery and corruption ought to be clear and non-negotiable. Risk appropriate due diligence should be put in place for the appointment of third-party agents.
A clear and well-implemented regulatory framework will provide an effective foundation to mitigate risks. Governments should direct their attention to improving laws, regulations and governance, and ensure competitive and transparent licensing and award processes. This ought to also include disclosure of sufficient information and access to critical data on bidding requirements, processes, and the recipients of contract awards and licenses.
Ultimate beneficial ownership information remains opaque in numerous jurisdictions. Improved disclosure requirements are necessary to ensure sufficient oversight, and to protect against the risk of unlawful awards to politically exposed and connected persons.
Panellists included:
Publication
Unannounced inspections or ‘dawn raids’ are used by antitrust authorities to obtain evidence when there are suspicions that individuals or businesses have infringed the antitrust rules.
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The EU Foreign Subsidies Regulation, or FSR, is intended to prevent or remedy distortions of the EU internal market caused by “foreign” – meaning non-EU – subsidies benefitting companies active in the EU.
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The English High Court has given its judgment in the legal battle between FW Aviation (FWA) and VietJet Aviation Joint Stock Company (VietJet). This case revolved around the enforcement of leasing agreements for four Airbus aircraft and the alleged interference by VietJet in the aircraft’s repossession in Vietnam.
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