As chief compliance officers realize the importance of criminal antitrust compliance, it is important to identify the real risk factors. All too often we get lost in the mumbo-jumbo (a technical term, I know) of compliance, tone-at-the-top, communication, training, and other obvious terms. While I often have suggestions on how to enhance a company’s risk assessment process, antitrust risks require precision and careful cost-benefit analysis....

We often read articles and blog postings about anti-corruption, anti-money laundering, export controls and sanctions compliance issues. The focus on these topics is justified. However, there is one glaring omission – antitrust compliance programs. There are a number of reasons for this omission. First, the Justice Department’s Antitrust Division has been slow to credit companies for their compliance programs. For many years, the Antitrust Division...

If you are a fan of Simon Sinek, you will understand and probably agree with the thrust of this posting. Sinek is a great motivational and business speaker. Many of his observations are spot-on and I would urge you to review some – here are some samples (here, here, here, and here). Getting back to the importance of accountability in a corporation, let’s start with...

Just when you thought it could not get any worse, events remind us that things actually can get worse. Volkswagen suffered through a horrible scandal involving an elaborate scheme to circumvent emissions regulations. The scandal rocked VW and slowly stretched to other German auto manufacturers, including Audi, BMW, Daimler and Porsche. It turns out that this coordination on the emissions testing equipment was just the...

Many companies have been laser-focused on anti-corruption compliance, and with good reason given the risks and consequences of an anti-corruption enforcement action. In doing so, companies have to be careful to avoid ignoring sanctions risks, especially in the ever-evolving nature of sanctions rules and regulations. The Office of Foreign Asset Control is an enforcement agency that coordinates its investigations activity with the Department of Justice...

Tom Fox and I recorded a podcast recently reviewing the Justice Department’s declinations in the Linde Gas and the CDM Smith matter.  It is always a pleasure to collaborate with Tom. The link to the recording is here. Thank you for your support and have a great weekend!!

For years, the Justice Department and the Securities and Exchange Commission touted the FCPA “sweep” of the pharmaceutical and medical device industries. With good reason, DOJ and the SEC turned the drug and medical device industries into virtual enforcement punching bags as company after company reached settlements with the DOJ and/or SEC. Indeed, the drug and medical device industries replaced the earlier enforcement punching bag...

Every company has done it. Chief Compliance Officers have had to hold their respective noses and push forward with due diligence to retain a risky third party. Rather than reject the third party, a CCO convinces him or herself that the company can mitigate the risks by contract representations and warranties, annual certifications, and a plan to monitor and audit the third party in the...

Ethical culture is the flavor of the year these days. We are seeing more postings and articles about the importance of ethical culture, and even pushing the idea of measuring and monitoring culture. It was only seven years ago, 2010 to be exact, when the US Sentencing Commission added ethics to the applicable guideline defining compliance program requirements. We have definitely come very far in...

Chief compliance officers are the rising stars in the corporate governance world.  However, CCOs have to avoid complacency.  CCOs have a lot more to accomplish — it is almost as if the profession has put its collective foot in the door.   CCOs have to be honest with themselves – it is easy to say everything is going great when some changes have been implemented....