Category: General

Watching the River Flow: The Evolution and Future of Compliance (Part I of III)

People disagreeing on all just about everything, yeah Makes you stop and all wonder why Why only yesterday I saw somebody on the street Who just couldn’t help but cry Oh, this ol’ river keeps on rollin’, though No matter what gets in the way and which way the wind does blow And as long as it does I’ll just sit here And watch the...

Ethics and Culture Lessons from the NBA Finals

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...

U.S. Entities Engaged in M&A Transactions Beware; OFAC Highlights the “Unique Sanctions Risks” Posed by Foreign Acquisitions

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...

Operationalizing Your Compliance Program: Local Compliance Officers and Businesses

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...

OFAC Fines US Company for Iran Sanctions Violations

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...

Commerce Department Blocks Export Licenses to Huawei Technologies Co., Ltd.

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...

Michael Volkov Releases New E-Book: The Road Ahead — The Justice Department’s Path to a Balanced White-Collar Enforcement Policy

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...

Telefônica Brasil Pays $4.125 Million for Hospitality-Related FCPA Violations

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...

OFAC’s New Sanctions Compliance Training and Testing Requirements (Part IV of IV)

When providing compliance program guidance, the Justice Department and OFAC, like every compliance practitioner, will pay homage to the relatively obvious point that there is no one-size-fits-all compliance solution.  In other words, as is often repeated, a company’s compliance program will vary depending on a variety of factors, including the company’s size, sophistication, products and services, and geographic configuration.  These factors eventually form the basis...