Job: Compliance Manager (Columbus, Ohio, metro area) A leading industrial growth company that delivers a comprehensive set of products for use in the construction and infrastructure sectors is seeking a Compliance Manager to oversee the day-to-day operation of its compliance program and internal controls procedures. This position is suited for a self-motivated individual seeking to help structure and manage a program from the ground up. ...
There is something a little surreal when a CCO, while negotiating to join a company, raises the issue of his or her own termination. Not to be maudlin, but it is an important issue to consider. The dangerous scenario is not so far-fetched. A CEO or someone from the C-Suite pushes to terminate a CCO because a CCO is likely to uncover some potentially improper...
Lauren Connell, Managing Associate at The Volkov Law Group, joins us again for a posting on DOJ’s recent FCPA guidance announcement. Lauren can be reached at [email protected]. Her bio is here. Lots of people are talking about the DOJ’s new self-disclosure pilot program, but it was only the last of three steps announced in the DOJ’s Fraud Section FCPA Enforcement Plan and Guidance. One...
We all have heard the scenario involving a compliance professional. A new CCO joins a company with promises from the board, the CEO and senior executives of cooperation, compensation and support for a robust independent compliance function. The new CCO arrives with an idealistic spirit only to discover that he or she has been misled. Sure, the CCO has a title, and a nice salary,...
The FCPA Paparazzi have a thick head and a stubborn chin. They just do not understand the significance of Compliance 2.0 to corporate governance and they blindly adhere to simplistic, yet unexplained, solutions to complex problems – kind of sounds like a presidential candidate we all know. Without getting into politics, which I avoid here on this blog, DOJ’s recent FCPA guidance on voluntary, disclosure,...
Compliance programs are required to create and manage case investigation systems to handle potential misconduct, investigate allegations of wrongdoing and then dispense discipline. Lessons learned from these investigations are valuable sources of information to improve compliance programs. Chief compliance officers play a critical role – either supervising the internal investigation system or coordinating with other functions in the organization to monitor internal investigations. Along the...
The D.C. Circuit dealt a blow last week to judicial attempts to exercise supervision over Justice Department negotiated Deferred Prosecution Agreements. In United States v. Fokker (Here), the Court answered the question in a resounding affirmation of the authority of prosecutors to resolve criminal cases and exercise discretion in charging decisions. In the end, the court’s decision was not a great surprise but the strength...
One of the more cynical “commitments” to compliance occurs when a company embraces compliance for the first time in response to a government investigation. I call this — finding “compliance” religion. When a company is under investigation or potentially under investigation, senior management embraces compliance and allocates resources to “protect” the company. We all know this is short-sighted thinking. A number of companies through the...
The media loves a scandal. In the banking and compliance world, the latest scandal to hit the media was the Panama Papers. The Panama Papers is surprising in scope – Panama has become the favorite financial haven for money launderers, PEPs and other miscreants. We have all seen this in the business world as Panamanian banks grew in rapid fashion. As the Cayman Islands, Switzerland...
William Shakespeare’s Hamlet included this often used phrase – hoist with his own petard (a small bomb). Shakespeare never knew that his eloquence would apply to today’s SEC enforcement of internal controls. The FCPA requires companies to make and keep accurate books and records and to devise and maintain an adequate system of internal accounting controls. The FCPA also prohibits individuals and businesses from knowingly...
