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  • Avon China Pleads Guilty To Violating The FCPA By Concealing More Than $8 Million In Gifts To Chinese Officials - Avon Products Inc. And Avon Products (China) Co. Ltd. Will Pay More Than $135 Million In Criminal And Regulatory Penalties

    Date 18/12/2014

    Avon Products (China) Co. Ltd. (Avon China), a wholly owned subsidiary of the New York-based cosmetics company, Avon Products Inc. (Avon), pleaded guilty today to conspiring to violate the accounting provisions of the Foreign Corrupt Practices Act (FCPA) to conceal more than $8 million in gifts, cash and non-business meals, travel and entertainment it gave to Chinese government officials in order to obtain and retain business benefits for Avon China.  Avon China and Avon admitted the improper accounting and payments and Avon entered into a deferred prosecution agreement to resolve the investigation.  In a proceeding today before United States District Judge George B. Daniels, the criminal Informations were filed against Avon and Avon China, and Avon China entered its guilty plea and was sentenced.

  • Federal Reserve Issues FOMC Statement

    Date 17/12/2014

    Information received since the Federal Open Market Committee met in October suggests that economic activity is expanding at a moderate pace. Labor market conditions improved further, with solid job gains and a lower unemployment rate. On balance, a range of labor market indicators suggests that underutilization of labor resources continues to diminish. Household spending is rising moderately and business fixed investment is advancing, while the recovery in the housing sector remains slow. Inflation has continued to run below the Committee's longer-run objective, partly reflecting declines in energy prices. Market-based measures of inflation compensation have declined somewhat further; survey-based measures of longer-term inflation expectations have remained stable.

  • Statement By US Treasury Secretary Jacob J. Lew On Cuba Policy Changes

    Date 17/12/2014

    “Enhanced contact with the United States is key to advancing political and economic freedom for the Cuban people.  The steps we are taking will increase travel, commerce, communications and private business development between the United States and Cuba and promote positive change for Cuba’s citizens.  

  • Federal Reserve Board And Federal Open Market Committee Release Economic Projections From The December 16-17 FOMC Meeting

    Date 17/12/2014

    The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Reserve Board members and Federal Reserve Bank presidents for the December 16-17 meeting of the Federal Open Market Committee.

  • CFTC Swaps Report Update

    Date 17/12/2014

    CFTC's Weekly Swaps Report has been updated, and is now available.

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