Financial institutions, investment banks, private equity firms and hedge funds are having a rough time.  Things are just not going well for them.  While the economic outlook is turning positive, the enforcement atmosphere is casting a black cloud over boardrooms and senior management in the financial industry. In recent statements from the Justice Department and regulatory officials, prosecutors and regulators have warned the industry that...

Chief Ethics and Compliance Officers are giddy these days – the push for empowerment: independence and resources is continuing to succeed.  Of course, the transformation will take time. Corporate boards and senior executives have to be educated and convinced that increasing compliance spending is a priority.  Given all of the competing concerns, this is no easy task. In arguing their respective cases, CECOs have to...

The Justice Department and the SEC have underscored the importance of a company maintaining a clear disciplinary process so that executives, managers and employees are aware that a violation of the corporate code of conduct or the law will result in disciplinary action. In addition, the Justice Department and SEC have emphasized the importance of including positive incentives for compliance with a corporate code and...

As the compliance profession continues to ascend, I hate to divert attention to what may appear to be a trivial issue.   We all know that too much time is spent on issues such as size of offices specific titles given to various positions, and other topics that are not focused on important organizational purposes and tasks. This issue, however, may carry symbolic importance.  The location...

Washington is a town that is filled with secrets – some interesting and others not so interesting.  I grew up and have practiced law in Washington, DC. all of my career.  Nothing really surprises me in Washington, DC. With the globalization of the economy, a little known process for reviewing proposed foreign investments in the United States is quickly rising in importance. CFIUS (“The Committee...

I always comment that we live in a world of ADHD – no one really focuses on anything these days.  Instead, they pick and chose from the stream of sensory bombardment delivered electronically to everyone through the Internet. We all love Twitter for that reason, but have you ever noticed how many people rely on Twitter as their primary source of news?  It is a...

I am pleased to announce the recent publication by Corporate Compliance Insights of my recent E-Book, The Impact of New Technologies In Corporate Governance, Risk Management and Compliance.  You can download the book for free HERE. From the boardroom to the sales call, technology will revolutionize GRC systems. The challenge for corporations is to harness GRC systems to increase efficiency and management capabilities while protecting...

Forgive me for taking the FCPA Paparazzi to task but when they deserve it, they deserve it. A quick diversion — I often am asked by fellow bar members and commenters if I am referring to them as being a member of the FCPA Paparazzi.  My definition of the FCPA Paparazzi usually covers those writers who confuse FCPA information with FCPA scare tactics and manipulate...

As a profession, Chief Compliance Officers have to be aware of the old adage – “Be careful what you ask for, you just might get it.”  Whoever crafted that saying, it applies right now to CCOs. As more CCOs are given the “opportunity” to run a compliance program with the resources they request and the authority they need, all eyes will be on their performance. ...