As the old saying goes, even a broken clock is correct two times a day.  My prediction several weeks ago is turning out to be on target.  FCPA enforcement is continuing and will increase throughout the year – DOJ/SEC resources are available and long-term investigations are bearing fruit. In the last week, DOJ announced criminal indictments/pleas with three individuals – two from Alstom and one...

There are many unique challenges to managing an AML compliance program.  Depending on the size of the bank or financial institution, each presents a different constellation of compliance factors. Not to be trite but a lot depends on the size of the business and the accompanying volume of transactions and activities.  In comparison to an anti-corruption program where the focus is on interactions between company...

It is not every day that I can report on a new governance innovation which is being rapidly embraced and implemented by companies.  It may be one of the most significant corporate governance developments in the last five years, almost matching the empowerment of independent compliance officers. A few years ago the percentage of companies reporting the creation of a compliance committee was around 20...

Like every compliance project, when you start the process, it is important to conduct a careful assessment of risks and your company’s compliance program.  With the growing risk of criminal, civil and regulatory enforcement of BSA, sanctions and AML laws, banks and other financial institutions need to dedicate some time and effort to this process. From my experience, banks and financial institutions turn to –...

I am a little reluctant to raise this issue.  I am sure the overwhelming response will be “Yes, of course.”  I am prepared for that and for any criticism that I am only offering another profound grasp of the obvious. Is there a distinction between a corporate compliance officer and a corporate ethics officer?  I am a literal person, so I can easily say yes...

I used to say – if your business operates in China, you are likely violating the FCPA in one  way or another.  Permit me to revise my admonition: if your business operates in India, you are likely violating the FCPA in one way or another. What has happened?  From my own anecdotal experiences, which I know is not based on reliable sampling techniques, there appears...

Last year was the year of Bank Secrecy, sanctions and anti-Money Laundering enforcement.  The HSBC settlement sparked significant controversy over the claim by the Justice Department that HSBC and other banks are “too big to jail.”  Below the high-profile cases, there is another phenomena occurring – a resurgence in regulatory enforcement against banks and other financial institutions. With this constellation of enforcement – high-profile mega-cases...

I have reprinted below an article I wrote this week for Corporate Counsel — link is here I thought the debate was over on this issue: The train has clearly left the station for the “best practice” of separating the legal and compliance functions—empowering a separate chief compliance officer with direct reporting authority to the board of directors. As a former prosecutor and now defense...

Talk about a way to start off FCPA enforcement in 2013.  The Department of Justice has sent an emphatic message: Just when you think things are slowing down, they come out and surprise you. I hate to say it but I predicted the BizJet indictments back at a n October 2012 seminar in Houston.  Tom Fox and Dan Chapman from Parker Drilling are my witnesses....