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Brazil should rapidly amend its legislation to make companies directly liable for the payment of bribes to foreign public officials, and to ensure that effective, proportionate and dissuasive sanctions are applicable, according to a new report by the OECD Working Group on Bribery.
These reports provide a record of the main achievements of the OECD Investment Committee within its investment policy work programme with non-member economies and make available to a wider audience some of the background analytical work developed under the aegis of this programme.
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Organised in Paris on 13 December 2007, discussions covered recent policy developments; the transparency and predictability of investment policies addressing essential security concerns; and the benefits of open investment markets for energy security. In addition, a consultation was held in which business and trade union partners discussed the policy issues raised by investments of Sovereign Wealth Funds (SWFs).
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This report focuses on the role of competition policy in promoting energy security. It does not attempt to establish a precise definition of energy security, but notes that it is mainly about managing vulnerability to supply disruptions and associated price spikes. This report by the OECD Competition Committee Secretariat was presented to participants at the 6th OECD Roundtable on Freedom of Investment held on 13 December 2007.
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Competition can improve the functioning of the retail banking sector without harming prudential regulation. Customer mobility and choice are essential to stimulate banking competition; credit ratings and easy, low-cost transaction costs for switching are crucial for promoting customer mobility.
This Annual Report provides an account of the actions the adhering governments have taken over the 12 months to June 2007 to enhance the contribution of the Guidelines to the improved functioning of the global economy. This publication also contains the results of the 2007 OECD Roundtable on Corporate Responsibility which focused on the OECD Guidelines for Multinational Enterprises and the financial sector.
On 11 July 2007, Egypt became the first Arab and first African country to sign the OECD Declaration on International Investment and Multinational Enterprises. This marks a new stage in Egypt's drive to attract more foreign direct investment (FDI). A series of policy reforms have helped to underpin a fifteen-fold increase in Egypt’s FDI between 2001 and 2006. FDI reached a record USD 9 billion in the first three quarters of its 2007
The NEPAD-OECD Roundtable in Lusaka, Zambia, 27-28 November 2007 aimed to develop policy capacity building tools that will help NEPAD countries improve the investment related content of Africa’s peer review process (APRM) and support implementation of investment climate reform policies, with a specific focus on the investment environment conditions conducive to attracting investment for development in the water and sanitation sector.
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On the occasion of the tenth anniversary celebration of the adoption of the Anti-Bribery Convention, signatory countries issued a statement reaffirming their commitment to fight bribery of foreign public officials in international business transactions.
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Regulation of the legal professions, including self-regulation, typically involves many restrictions on entry and professional conduct. Certain restrictions may be a remedy to market failures and may also be based on distributional or paternalistic motives. But other restrictions can be based on rent-seeking and achieve cartel-like effects. The major policy challenge is to identify and remove the restrictions which are unnecessary or