Category: General

4 Oct, 2018

Developing an Employee Handbook that Helps Protect Your Business from Lawsuits

Karin Sweigart, a Senior Associate at The Volkov Law Group, rejoins us for another posting on employment compliance and litigation risks. Karin can be contacted at [email protected]. There are many reasons to have an employee manual or handbook can be good for your business. Employee manuals help set expectations, provide guidance on how to handle conflicts, and, when drafted and implemented correctly, can protect your...

General

4 Oct, 2018

Wit and Wisdom from Michael Volkov: It’s the Culture Stupid: Ethics and the Definition of Successful Companies

I am pleased to announce the release of my new e-book, It’s the Culture Stupid: Ethics and the Definition of Successful Companies. (Available Here). Many thanks to Corporate Compliance Insights, Maurice Gilbert, Sarah Hadden and Emily Ellis for their continuing support. I am proud to partner with such a fine organization and professional group.

General

3 Oct, 2018

What Happens When a CFO Fails to Listen to the CCO?

Chief financial officers are powerful players in the corporate governance landscape. CFOs play a critical role in the management and oversight of the company’s internal accounting controls. Sarbanes-Oxley lifted the importance of CFOs and internal auditors as important gatekeepers. With that important role, CFOs and corporate leaders have to certify as to the accuracy of the company’s financial reports, subject to potential criminal consequences. CFOs...

General

2 Oct, 2018

Petrobas Closes Out “Massive” Corruption Investigations and Litigation

When it comes to a poster-child for corrupt organizations, there is very little competition that can eclipse Petrobas, the Brazilian state-owned oil and gas company. Petrobas has long suffered under a stigma of corruption, and as outlined in its recent settlement actions, the title was well deserved. Petrobas’ corruption was firmly coordinated and entrenched with Brazil’s political corruption. The pervasive nature of Brazil’s political and...

General

1 Oct, 2018

Stryker Suffers “Strike Two” and Settles SEC FCPA Case

Stryker Corporation has suffered a second FCPA enforcement action, and will now bear the stigma of FCPA “recidivist.” In reaching a settlement with the SEC and agreeing to pay a $7.8 million civil penalty, Stryker will now be subject to an SEC-imposed compliance monitor. (Here). Stryker’s recent set of violations surrounded books and records violations and deficient accounting and compliance controls in India, China and...

General

28 Sep, 2018

Maintaining Your Company’s Compliance Program in the Rapid Policy World of Change by Tweet

Traditionally, businesses were able to prepare for changes in laws and regulations in advance by monitoring legislative and regulatory actions in Washington, D.C. and relevant state capitols. Agencies would initiate rulemakings and give notice to interested parties of new or changed rules. Congress would consider legislation and it would be subject to some kind of “regular order” or process. In the “good old days,” businesses...

General

26 Sep, 2018

Compliance and Recruiting Women in the Workforce

Karin Sweigart, a senior associate from The Volkov Law Group, joins us for a posting on compliance and recruiting women. Karin’s profile is located here. She can be reached at [email protected]. With unemployment near record lows (3.9% according to the Bureau of Labor Statistics) more businesses are struggling to recruit the talent they need in the market. HR professionals know they need to be more...

General

25 Sep, 2018

OFAC Enforcement: The Epsilon Case and Third Party Risks

The Department of Treasury’s Office of Foreign Asset Control (“OFAC”) recently announced the settlement of the Epsilon enforcement action. (Here). This case requires a theme song and there is none better than Truckin (here) from Grateful Dead’s second compilation album — What a Long Strange Trip its Been. This case involved two separate OFAC investigations for violations of the Iran Sanctions Program, an appeal to...

General

24 Sep, 2018

Cryptocurrency 101 for Lawyers – What is Mining?

Matt Stankiewicz, a senior associate at The Volkov Law Group, rejoins us for another posting on cryptocurrency. He can be reached at [email protected]. As we have continued with our cryptocurrency posts, we are often asked questions about the foundational elements of the technology behind cryptocurrency. This is not surprising really, it’s a new technology that’s still finding itself and innovations are occurring monthly, if not...

General

20 Sep, 2018

A Compliance Priority — Watching Where Your Money Goes

His money is twice tainted: taint yours and taint mine – Mark Twain In a number of enforcement contexts, I am always struck by a common theme – crooks are able to obtain access to corporate money for improper purposes. You never hear about a crook who uses his own money to pay bribes or secure any illegal advantage. Companies have to maintain vigilant financial...