In a telephone conference call sponsored by the ABA, Lorin Reisner, Deputy Director of Enforcement at the SEC, disclosed that the SEC is relying on data analytics and industry-specific risk analysis to initiate FCPA investigations.  Reisner’s disclosure is extremely significant because he specifically explained that investigations initiated as a result of voluntary disclosures by companies constitute a smaller percentage of the SEC’s investigations. What does...

Money laundering continues to be a significant problem. The precise amount involved in the global economy is very hard to measure with estimates ranging from $1.5 to $4 trillion. For compliance officers, money laundering is not a new risk, especially since the USA PATRIOT Act was passed in 2001, which imposed a new set of laws and regulations on the financial industry. But make no mistake,...

A number of large multinational companies are allegedly under investigation for FCPA violations in Indonesia.  That should not be a surprise.  The United States and Indonesia have established cooperative arrangements to investigate bribery.  Indonesia’s Corruption Eradication Commission (“KPK”) has been a victim of its own success — rival law enforcement agencies and a small number of businesses have launched challenges to KPK’s authority and aggressive...

A number of large multinational companies are allegedly under investigation for FCPA violations in Indonesia.  That should not be a surprise.  The United States and Indonesia have established cooperative arrangements to investigate bribery.  Indonesia’s Corruption Eradication Commission (“KPK”) has been a victim of its own success — rival law enforcement agencies and a small number of businesses have launched challenges to KPK’s authority and aggressive...

A number of large multinational companies are allegedly under investigation for FCPA violations in Indonesia.  That should not be a surprise.  The United States and Indonesia have established cooperative arrangements to investigate bribery.  Indonesia’s Corruption Eradication Commission (“KPK”) has been a victim of its own success — rival law enforcement agencies and a small number of businesses have launched challenges to KPK’s authority and aggressive...

For those companies dedicated to compliance, the first and most critical step is a commitment to empower its compliance office.  A company must assign adequate personnel and allocate adequate resources to fulfill its mission.  An effective compliance officer must be regarded as equal to, or even senior to, the company’s Chief Financial Officer or General Counsel.  Gone are the days when compliance offices are a...

In reality, many companies do not have adequate internal controls for FCPA compliance.  Of course, Sarbanes-Oxley imposed new and significant requirements on companies to implement adequate internal controls.  Companies responded quickly to the SOX requirements.  When it comes to the FCPA, the story is different.  There are certain basic requirements which need to be implemented.  Assuming that a company is interested in preserving documents and has that...

In reality, many companies do not have adequate internal controls for FCPA compliance.  Of course, Sarbanes-Oxley imposed new and significant requirements on companies to implement adequate internal controls.  Companies responded quickly to the SOX requirements.  When it comes to the FCPA, the story is different.  There are certain basic requirements which need to be implemented.  Assuming that a company is interested in preserving documents and has that...

In reality, many companies do not have adequate internal controls for FCPA compliance.  Of course, Sarbanes-Oxley imposed new and significant requirements on companies to implement adequate internal controls.  Companies responded quickly to the SOX requirements.  When it comes to the FCPA, the story is different.  There are certain basic requirements which need to be implemented.  Assuming that a company is interested in preserving documents and has that...

In reality, many companies do not have adequate internal controls for FCPA compliance.  Of course, Sarbanes-Oxley imposed new and significant requirements on companies to implement adequate internal controls.  Companies responded quickly to the SOX requirements.  When it comes to the FCPA, the story is different.  There are certain basic requirements which need to be implemented.  Assuming that a company is interested in preserving documents and has that...