The Swiss Commodity Supervisory Authority (“ROHMA“) presented here is a fictional authority deriving from the vision of Public Eye (formerly Berne Declaration) that would see Switzerland taking effective measures to combat the Resource Curse. The problems, which should and must be attended to, are on the other hand real.

We have been inspired by the website of the Swiss Financial Market Supervisory Authority FINMA because it is an example of sector regulation which shows, that with the right political will, the commodity sector could be regulated just as the finance sector is.

The Swiss Commodity Supervisory Authority “ROHMA” is a campaign instrument from:

ROHMA opens an investigation against Demynag for possible failures to carry out required due diligence

08.07.2014

A report by the Berne Declaration claims that between 2009 and 2011, Demynag delivered petroleum products to Nigerian companies linked to politically exposed persons (PEP), accused of having unduly levied subsidies on imports of petroleum products. Should this turn out to be the case, Demynag may have breached its duty to carry out due diligence aimed at preventing the embezzlement of public assets.

ROHMA has decided to open an investigation to determine whether Demynag has taken all measures necessary to ensure the proper conduct of its activities. The enquiry will focus on a possible violation of ROHMA Circular 2014/2, in particular the supply chain provision on "know your business partners” dated 28.06.2014. ROHMA will also review whether any of the company’s other activities have infringed on the provisions requiring good internal organization and risk management.

Contact

Oliver Classen, spokesman, tel. +41. (0)44.277.70.06