Steele Webinar: Top 6 Due Diligence Best Practices Third-Party Risk Management April 16, 2020, 11 AM EST Sign Up HERE Faced with complex, global third-party networks, it’s more critical than ever for companies to have an effective strategy for evaluating and monitoring third-party risk. Without continuous monitoring and a strong anti-bribery anti-corruption (ABAC) program, companies can find themselves the target of multiple enforcement actions for...

The Justice Department and the FBI have quickly acted to focus on fraudsters and hoarders seeking to profit from the public panic in response to the pandemic.  DOJ issued a memo to U.S. Attorneys prioritizing investigations and prosecutions in this area.  (Here). To combat hoarding and price gouging for critical supplies, the President issued an executive order (Here) which prohibits hoarding and price gouging of...

Companies are struggling.  Many have shut down.  Some are surviving from a remote workforce.  Some critical businesses – healthcare providers, food, pharmacies and essential services (e.g. utilities) – are continuing to operate.  Employers have given large numbers of raises and have to adapt to a new marketplace with COVID-19 risks and regulatory requirements.  Certain businesses are hiring large numbers of employees – Amazon, drug stores...

Congress recently enacted the Families First Coronavirus Response Act (“FFCRA”) (Copy Here), which included a number of important changes.  Given the disastrous impact of the pandemic on the workplace, businesses that are still operating have to adhere to health and safety requirements.  OSHA guidelines require companies to sanitize the workplace, and require employees to use protective equipment.  OSHA has released guidance on COVID-19 in the...

Corporate boards and management face serious challenges in navigating the COVID-19 pandemic.  In this difficult environment, companies have to be mindful to apply best practices and exercise care to fulfill their duties of loyalty and care.  The challenges are complex and the risks are exponential. Corporate boards have to exercise responsible oversight by understanding the risks facing the company and the impact of the pandemic...

COVID-19 has had a devastating impact.  The public health crisis has caused tragic human loss and is overwhelming the United States healthcare system.  Businesses have suffered along with the public. Business face real challenges managing the crisis, their respective supply chains and employees. In the second part of a two-part series, Mike Volkov reviews important business responses and strategies for coping with the pandemic.

COVID-19 has had a devastating impact.  The public health crisis has caused tragic human loss and is overwhelming the United States healthcare system.  Businesses have suffered along with the public.   The lack of federal leadership has been glaring.  States and local governments are coping the best they can despite the obvious absence of federal leadership.  In this two-part episode, Mike Volkov examines the federal and...

Congress enacted the largest economic stimulus bill in history, totaling approximately $2 trillion to protect US families and businesses from massive economic damage resulting from the COVID-19 pandemic. Copy of CARES Act HERE. The package includes: $454 billion in loans and guarantees to businesses $349 billion in small business loans $32 billion in loans and guarantees to airlines/ air cargo $301 billion direct aid to...

Chief compliance officers and human relations leaders are facing enormous challenges in this COVID-19 pandemic.  The shut-down of offices and orders to employees to work from home or “tele-work” creates a unique set of risks. Many companies already permit employees to work from home.  But we have never experienced a requirement that employees work from home.  Some jobs cannot be done from home, while others...

Elizabeth Slim, Senior Consultant at The Volkov Law Group, joins us for a posting on AML and BSA compliance during the current pandemic crisis. Elizabeth can be reached at [email protected]. The COVID-19 outbreak has affected all of us and we now face the new normal of self-quarantine and social distancing.  As Anti-Money Laundering (AML) professionals, we are still required to ensure that financial institutions maintain...