Category: Podcasts

27 Mar, 2023

Episode 267 — DOJ Escalates Compliance Program Requirements

The Justice Department is rapidly pushing corporations to a new level of compliance. We are witnessing a watershed moment – DOJ is raising the bar on expectations surrounding corporate compliance programs. It would be a mistake, however, to interpret DOJ’s recent changes as limited to compliance compensation and preservation of internal communications data. When considered together, the changes to the Corporate Enforcement Policy, the Evaluation...

Podcasts

20 Mar, 2023

Episode 266 — Joint Compliance Notice Issued on Sanctions and Export Controls Evasion

As we have noted on numerous occasions, the U.S. Russia Sanctions and Export Control Program is unprecedented and a compliance challenge for all organizations. In another unprecedented action, the Justice Department and the Departments of Commerce and Treasury issued a Joint Compliance Note (“JCN”) on the importance of compliance with the Russia Sanctions and Export Control requirement, which provides important descriptions of red flags and...

Podcasts

13 Mar, 2023

Episode 265 — The Ericsson FCPA DPA Breach Settlement

Ericsson, a multinational telecommunications company, based in Sweden, settled its breach of the 209 Deferred Prosecution Agreement, agreed to enter a guilty plea and pay a $206 million penalty. In 2019, Ericsson entered into a three-year DPA, paid a $1 billion penalty to DOJ and the SEC for FCPA violations. DOJ notified Ericsson in 2021 that it had breached the DPA by violating the DPA’s...

Podcasts

6 Mar, 2023

Episode 264 — Contract/Purchase Order to Invoice to Payment Controls

The SEC knows that it has powerful enforcement tools. The FCPA provides two important requirements on issuers – keep accurate books and records and maintain internal controls to ensure that management’s accounting controls operate effectively to ensure proper use of corporate assets. The SEC knows these are broad requirements and has defined practical requirements. One critical area of focus has been the SEC’s focus...

Podcasts

27 Feb, 2023

Episode 263: LRN’s 2023 Ethics and Compliance Program Effectiveness Report Featuring Susan Divers

LRN continues to provide important insights and trends on the importance of ethics and compliance programs. LRN’s annual report is an important resource and needs to be reviewed by the board, senior management and all compliance-related functions. LRN’s 2023 report emphasizes the importance of commitment, investment and promotion of corporate ethics and compliance, particularly during these difficult economic and geopolitical disturbances. LRN’s report is based...

Podcasts

20 Feb, 2023

Episode 262: DOJ’s Compliance Frontier:Incentives and Disincentives

The Justice Department did not just willy-nilly announce its embrace of clawbacks and deferred payment compensation punishment as a remediation tool for companies that suffer an enforcement action and settlement. To the contrary, DOJ has been examining this issue, even citing it in important policy spheres and enforcement actions, as an important tool in its arsenal. Both the DOJ and the SEC have been weighing...

Podcasts

13 Feb, 2023

Episode 261 — 2023 Ethics Compliance Predictions and Trends

I always enjoy pulling out the crystal ball and looking forward with due consideration of last year’s trends. It is a perspective that gives us all the opportunity to identify important trends and to set an agenda for the next year – 2023. The compliance profession continues to grow in overall importance in the corporate governance landscape. Corporate leaders that fail to appreciate this face...

Podcasts

6 Feb, 2023

Episode 260 — The Person of the Year: The Trade Compliance Officer Featuring Alex Cotoia from The Volkov Law Group

As we start the New Year, every compliance professional (and senior executive) should take a moment to acknowledge the amazing efforts made in 2022 by trade compliance professionals to ensure overall compliance with a maze of complex economic sanctions and export controls implemented in response to Russia’s unprovoked invasion of Ukraine. Starting in February 2022, and almost on a daily basis, the U.S. government, along...

Podcasts

30 Jan, 2023

Episode 259 — Deep Dive into the Honeywell FCPA Case

Honeywell UOP (“Honeywell”) is a U.S.-based subsidiary of Honeywell International, Inc. The settlement resolved bribery charges in the United States and Brazil stemming from bribes paid to high-ranking officials at Petrobras, Brazil’s state-owned oil company. Honeywell agreed to a three-year deferred purchase agreement (“DPA”), which was filed in the Southern District of Texas (Houston). Honeywell agreed to pay approximately $79 million in exchange for the...

Podcasts

23 Jan, 2023

Episode 258 — Deep Dive in the ABB FCPA Case

The Justice Department’s new Corporate Enforcement Policy and the heightened enforcement and compliance expectations were put to the test in its announcement of a $315 million settlement of bribery charges with ABB, a three-time loser in foreign bribery enforcement. However you interpret this case, the ABB enforcement action demonstrates yet again the vitality of DOJ’s commitment to FCPA enforcement, and that the industry can expect...