Matt Stankiewicz, Senior Counsel at The Volkov Law Group, rejoins us for a posting on compliance lessons from the NBA Finals. Matt can be reached at mstankiewicz@volkovlaw.com. As a huge sports fan and compliance practitioner, I can’t seem to divorce the two when I’m watching a sporting event, for better or for worse. So while watching the National Basketball Association (“NBA”) Finals, one major event...
Jessica Sanderson, Of Counsel at the Volkov Law Group, rejoins us for a posting on OFAC’s recent enforcement actions involving Expedia and other cases involving acquisitions of foreign-owned companies. Jessica can be reached at jsanderson@volkovlaw.com. On June 13, 2019, OFAC announced a settlement with Expedia Group, Inc. for violations of the Cuban Assets Control Regulations (“CACR”). (Available here). Expedia’s foreign subsidiaries assisted more than 2,200...
OFAC’s new framework guidance for sanctions compliance programs stretched into new territory with its risk assessment requirement. This new approach reflects OFAC’s recent aggressive enforcement programs. The scope of a risk assessment has to mirror the breadth of enforcement risks and has to include review of: (i) customers, supply chain, intermediaries, and counter-parties; (ii) the products and services it offers, including how and where such items fit into...
The Justice Potter Stewart phrase, “You know it when you see it,” applies to life issues and even compliance. Global companies struggle with program design, allocation of resources (e.g. human resources and money/assets), and program operation. We all hear (and repeat ourselves) “no-one-size-fits-all” when addressing specific recommendations on how to design and implement a global ethics compliance program. But that does not mean that certain...
There is no question that OFAC continues to dominate the enforcement landscape this year. OFAC has provided plenty of warning and notice to global companies, especially those in the manufacturing and industrial sectors. OFAC has exercised its prosecutorial discretion to underscore the risks global companies face in their distribution channel, i.e. use of third party distributors, and in its supply chain. These twin risk areas...
Matt Stankiewicz, Senior Counsel at The Volkov Law Group, rejoins us for a posting on compliance lessons from the NBA Finals. Matt can be reached at mstankiewicz@volkovlaw.com. As a huge sports fan and compliance practitioner, I can’t seem to divorce the two when I’m watching a sporting event, for better or for worse. So while watching the National Basketball Association (“NBA”) Finals, one major event...
Jessica Sanderson, Of Counsel at the Volkov Law Group, rejoins us for a posting on OFAC’s recent enforcement actions involving Expedia and other cases involving acquisitions of foreign-owned companies. Jessica can be reached at jsanderson@volkovlaw.com. On June 13, 2019, OFAC announced a settlement with Expedia Group, Inc. for violations of the Cuban Assets Control Regulations (“CACR”). (Available here). Expedia’s foreign subsidiaries assisted more than 2,200...
OFAC’s new framework guidance for sanctions compliance programs stretched into new territory with its risk assessment requirement. This new approach reflects OFAC’s recent aggressive enforcement programs. The scope of a risk assessment has to mirror the breadth of enforcement risks and has to include review of: (i) customers, supply chain, intermediaries, and counter-parties; (ii) the products and services it offers, including how and where such items fit into...
The Justice Potter Stewart phrase, “You know it when you see it,” applies to life issues and even compliance. Global companies struggle with program design, allocation of resources (e.g. human resources and money/assets), and program operation. We all hear (and repeat ourselves) “no-one-size-fits-all” when addressing specific recommendations on how to design and implement a global ethics compliance program. But that does not mean that certain...
There is no question that OFAC continues to dominate the enforcement landscape this year. OFAC has provided plenty of warning and notice to global companies, especially those in the manufacturing and industrial sectors. OFAC has exercised its prosecutorial discretion to underscore the risks global companies face in their distribution channel, i.e. use of third party distributors, and in its supply chain. These twin risk areas...
In a controversial decision, on May 15, 2019, the US Commerce Department announced the addition of Huawei Technologies Co., Ltd. (“Huawei”) and 68 affiliates to its Entity List. As a result, export licenses for Huawei are subject to a presumption of denial. The Commerce Department cited a number of reasons for its decision, including alleged violations of the International Emergency Economic Powers Act (IEEPA), conspiracy...
I am pleased to announce the release of my new e-book: The Road Ahead: The Justice Department’s Path to a Balanced White-Collar Enforcement Policy. The new e-book can be downloaded HERE. Thanks to Corporate Compliance Insights for publishing the book and its continuing support. The Justice Department’s FCPA Corporate Enforcement Policy, adopted in November 2017, was a watershed moment in criminal justice. Over the last...
As the old adage provides – better late than never. (Same applies for my somewhat tardy posting on this case). Telefônica Brasil settled FCPA violations with the SEC for a pretty penny — $4.125 million in civil penalties in connection its hospitality program for the 2014 World Cup and 2013 Confederations Cup According to the settlement agreement, Telefônica Brasil failed to maintain adequate internal controls...
Data privacy has become a hot topic lately. Companies have built massive fortunes by selling users’ personal information to the highest bidder. Meanwhile, they often fail to secure that same data while hackers run amok, putting the users at risk. What’s a person to do? Enter ImagineBC. In the ImagineBC community, you’re in control of your personal information – and free to monetize it. Built on...
On June 5, 2019, Colleen Hurson, Senior Counsel at The Volkov Law Group conducted a webinar on ITAR Compliance: Navigating Complex Risks. A free recording of the webinar is here. Colleen’s contact email is churson@volkovlaw.com; her profile is here.
