The Ukraine-Russia Sanctions program is a complex set of executives orders, statutes and regulations defining prohibited business transactions with Russian entities and individuals.  The sanctions program was instituted in 2014 in response to Russia’s invasion of the Ukraine and annexation of Crimea.  In August 2017, Congress enacted statues and directed OFAC to implement additional regulations.  Congress acted in response to fears that the Trump Administration...

In my final posting on ISO 37001, I review requirements for training, raising concerns and internal investigations as part of a company’s anti-bribery risk management system. I could certainly write more on ISO 37001 because there are other issues that I have not addressed, including audits, assessments and reviews of the anti-bribery risk management system. In this posting, it is important to identify and tailor...

In Part IV of my series on ISO 37001, I examine requirements relating to risk assessments, design of policies and procedures, and due diligence requirements. Section 4.5 sets out requirements for conducting risk assessments. ISO 37001 requires companies to conduct regular risk assessments in order to identify the bribery risks the company might reasonably anticipate; analyze, assess and prioritize the identified bribery risks; and evaluate...

In Part III of my continuing series on ISO 37001, today I examine the board and top management’s respective responsibilities in the implementation and oversight of an anti-bribery management system. ISO 37001 defines a “governing body” to include a supervisory board or board committee as having the ultimate responsibility for company activities, governance and policies of its anti-bribery management system. “Top management” is responsible for...

The release of ISO 37001 has triggered an important discussion among legal and compliance professionals. In a five-part series, I plan to address the value of ISO 37001, provide a substantive analysis, and to evaluate the contribution ISO 37001 has made (or will make) in the compliance field. First, I recommend that everyone spend time studying ISO 37001. It is a mistake to write off...

Podcast Episode 6 examines ISO 37001 — Anti-Bribery Risk Management System.  Please sign up HERE for our free webinar on ISO 37001 scheduled for October 24, 2017 at 12 Noon EST. The ISO 37001anti-bribery risk management system was issued in 2016.  The standard provides additional guidance on anti-bribery risk management systems and creates a certification process for organizations. Even after one year, there are still...

Webinar: ISO 37001 — A Review of the Anti-bribery Risk Management System October 24, 2017, 12 Noon EST SIGN UP HERE The new ISO 37001 anti-bribery risk management system was issued almost one year ago. The standard provides additional guidance on anti-bribery risk management systems and creates a certification process for organizations. Even after one year, there are still questions surrounding the value of ISO...

Lawyers get a bad rap, and I am not just referring to all the lawyer jokes we have heard numerous times. Lawyers get a bad rap when it comes to compliance. Much of it is not deserved – but candidly, some of it is deserved. For some reason, Chief Legal Officers have difficult accepting the empowered role of a Chief Compliance Officer. This is not...

Compliance officers have to avoid complicating a compliance program. As in many areas in life, there is a value in simplicity. Take for example a compliance training presentation. If a compliance officer overwhelms his/her audience with legal mumbo jumbo, you can rest assured that no one will retain anything and the training program will not be very successful. On the other hand, if a compliance...