The SEC continues to exercise its powerful enforcement tool – internal controls violations – in FCPA enforcement actions against public companies.  Kinross Gold Corporation is the latest company to enter into an FCPA settlement. Kinross agreed to pay $950,000 for inadequate internal controls and books and records violations centered on the activities of two mining companies Kinross acquired.  The SEC cited no evidence of any...

As part of the aggressive enforcement of white collar crime cases, federal  law enforcement officers are executing more search warrants at company offices.  Companies should plan in advance for such an event.  A company can learn valuable information about an ongoing investigation.  Just as important, company officials have to preserve and assert objections when federal agents conduct a search. In this episode, Michael Volkov outlines...

The Ethics and Compliance Initiative recently released the results of its global business ethics survey.  (Download Copy Here).  The last survey was conducted in 2017 and ECI’s survey provides important and valuable insights into corporate metrics and compliance, focusing on misconduct issues. The survey was conducted in late 2016 and 2017.  Thirteen countries were selected: Brazil, China, France, Germany, India, Italy, Japan, Mexico, Russia, South...

Abbott and Costello’s famous routine — Who’s on First, What’s on Second — puts cryptocurrency regulation and enforcement risks in perspective.  Here is the classic comedy routine. When new technologies appear on the scene, Washington regulation is sure to follow.  The exact configuration can take years to sort out, especially when it comes to financial products, given the labyrinth of regulatory bodies seeking to lay...

We always hear about the importance of tone-at-the-top.  Corporate leaders are very familiar with how to say the right things about ethics and compliance and the company’s culture.  But we all know that words are cheap – it is conduct that matters, and it is behavior that ultimately builds trust in an organization. In large corporations, however, the tone-at-the-top can only go so far.  No...

Matt Stankiewicz, an Associate at The Volkov Law Group, rejoins us as a guest contributor for another posting on cryptocurrencies.  Matt can be reached at [email protected]. A few days ago, Congress released its 2018 Joint Economic Report.  As many of you know, the Joint Economic Committee prepares this report as a national assessment of the country’s economic status.  The report often assesses the implications of a...

Last week, the Justice Department announced its first FCPA enforcement action in 2018 – a follow-on settlement from prior FCPA enforcement actions centering on a bribery scheme involving a Russian government official from a subsidiary of Russia’s State Atomic Energy Corporation.  Three individuals have been charged in connection with the bribery scheme. Transport Logistics International, a Maryland company, entered into a deferred prosecution agreement and...

No one needs to be reminded about the importance of anti-corruption compliance.  For global companies, anti-corruption risks are amongst the top 3 risks identified by corporate leaders. Global companies face a growing network of international anti-corruption law enforcement agents and prosecutors who are coordinating and sharing intelligence.  The globalization of anti-corruption enforcement has increased significantly the risk of detection and prosecution.  While the Justice Department...