Corruption, Crime & Compliance - Bribery, FCPA, AML

Featured Articles:

General

26 Jul, 2017

FCPA Risks and Acquisition Integration Challenges

Chief compliance officers have devoted significant efforts to conducting pre-acquisition due diligence of a proposed target companies. I do not intend to diminish the importance of pre-acquisition due diligence, but I have noticed companies are increasing attention to post-acquisition integration planning and execution. There is no question that disruption in the integration process can be very harmful to the overall success of an acquisition. Companies...
Events

26 Jul, 2017

Webinar: Is Your Company “At-Risk” for a Government Enforcement Action?

Webinar: Is Your Company “At-Risk” for a Government Enforcement Action? Monday, August 7, 2017, 12 Noon EST Sign Up HERE A government investigation and enforcement action can have a devastating impact on a business. Aside from the financial impact, companies can suffer significant reputational harm. To detect and prevent potential misconduct, businesses are dedicating time and resources to design and implement an effective ethics and compliance program. As...
General

25 Jul, 2017

Anti-Corruption Compliance: The Need to Look Under the Cloak of Materiality

Sarbanes-Oxley revolutionized the auditing profession. Section 404 imposed stringent requirements for disclosure of the state of a company’s internal controls and financial reporting. The company’s independent auditor is required to report on the effectiveness of the company’s internal controls, and include bribery, theft and fraud. The requirements are intended to prevent a material misstatement of the company’s financial statements. The key term of art surrounding...
General

25 Jul, 2017

The Strange Case of OFAC Against Exxon for Sanctions Violations

In a bizarre enforcement action, The Treasury Department’s Office of Foreign Asset Control (“OFAC”) assessed a $2 million civil monetary penalty against ExxonMobil (“Exxon”) for violations of the Ukraine sanctions. (Copy Here). OFAC’s enforcement action boiled down to Exxon’s execution of eight legal documents with Igor Sechin, the CEO of Rosneft OAO (“Rosneft”), who is a Specially Designated Nation and Blocked Person on what is...
General

23 Jul, 2017

Is Your Company At-Risk for a Government Enforcement Action?

For some reason, I have always believed that picking successful stocks should not be very difficult. Unfortunately, my record in the stock market does not back up my self-assessment. On the other hand, when it comes to compliance and corporate misconduct, I am confident about identifying and defining “at risk” companies. What is an “at-risk” company? An at-risk company is a company that suffers both...

26 Jul, 2017

FCPA Risks and Acquisition Integration Challenges

Chief compliance officers have devoted significant efforts to conducting pre-acquisition due diligence of a proposed target companies. I do not intend to diminish the importance of pre-acquisition due diligence, but I have noticed companies are increasing attention to post-acquisition integration planning and execution. There is no question that disruption in the integration process can be very harmful to the overall success of an acquisition. Companies...

Events

26 Jul, 2017

Webinar: Is Your Company “At-Risk” for a Government Enforcement Action?

Webinar: Is Your Company “At-Risk” for a Government Enforcement Action? Monday, August 7, 2017, 12 Noon EST Sign Up HERE A government investigation and enforcement action can have a devastating impact on a business. Aside from the financial impact, companies can suffer significant reputational harm. To detect and prevent potential misconduct, businesses are dedicating time and resources to design and implement an effective ethics and compliance program. As...

General

25 Jul, 2017

Anti-Corruption Compliance: The Need to Look Under the Cloak of Materiality

Sarbanes-Oxley revolutionized the auditing profession. Section 404 imposed stringent requirements for disclosure of the state of a company’s internal controls and financial reporting. The company’s independent auditor is required to report on the effectiveness of the company’s internal controls, and include bribery, theft and fraud. The requirements are intended to prevent a material misstatement of the company’s financial statements. The key term of art surrounding...

General

25 Jul, 2017

The Strange Case of OFAC Against Exxon for Sanctions Violations

In a bizarre enforcement action, The Treasury Department’s Office of Foreign Asset Control (“OFAC”) assessed a $2 million civil monetary penalty against ExxonMobil (“Exxon”) for violations of the Ukraine sanctions. (Copy Here). OFAC’s enforcement action boiled down to Exxon’s execution of eight legal documents with Igor Sechin, the CEO of Rosneft OAO (“Rosneft”), who is a Specially Designated Nation and Blocked Person on what is...

General

23 Jul, 2017

Is Your Company At-Risk for a Government Enforcement Action?

For some reason, I have always believed that picking successful stocks should not be very difficult. Unfortunately, my record in the stock market does not back up my self-assessment. On the other hand, when it comes to compliance and corporate misconduct, I am confident about identifying and defining “at risk” companies. What is an “at-risk” company? An at-risk company is a company that suffers both...

General

20 Jul, 2017

Should You Record Internal Investigation Interviews?

As a former federal prosecutor, I noticed a renewed discussion of the important question of whether witness interviews should be recorded (either audio or video). I have always found this issue to be interesting and have welcomed discussion of the pros and cons of recording witness interviews. In this era of focus on prosecutorial misconduct, the issue has taken on greater importance. For example, in...

General

18 Jul, 2017

United States v. Nixon – An Important Reminder

In these days of political turmoil, it is always important to know specific and relevant events from our country’s past. I was fascinated by the Watergate scandal and was enamored with the role played by prosecutors and Congressional investigations that eventually uncovered the full scope of President Nixon’s involvement in the Watergate burglary and cover-up. One of the more significant events, with continuing ramifications today,...

General

17 Jul, 2017

Important Polling Results from BvD Webinar on Beneficial Ownership

On June 28, 2017, Bureau van Dijk, a sponsor of my blog, conducted a webinar on the importance of beneficial ownership information to corporate compliance functions. The blog posting by Alistair King is here, and the replay of the important webinar is here. I have emphasized in a number of postings the importance of beneficial ownership information to compliance functions. It is not enough to...

General

16 Jul, 2017

CCO’s and Delusions About a Company’s Ethical Culture

It is easy to say something and convince yourself it is true. As George Costanza advised Jerry Seinfeld when Jerry had to take a polygraph examination when he failed to admit that he watched “Melrose Place,” “Remember Jerry. It’s not a lie, if you believe it.” See Video Here. This statement from this Seinfeld episode (Season 6, Episode 16) reminds me of compliance professionals who...

General

13 Jul, 2017

New Episode — Everything Compliance

Tom Fox, the Compliance Evangelist and Guru, has posted a new episode of Everything Compliance, a roundtable discussion led by Tom and including Matt Kelly, Jonathan Armstrong, Jay Rosen, and myself. During this episode, we discuss the Uber controversy, blockchain technology, GDPR, and FCPA enforcement trends and questions. Here is a link to the episode. Thanks to Tom, Matt, Jonathan, and Jay!