On June 28, 2017, Bureau van Dijk, a sponsor of my blog, conducted a webinar on the importance of beneficial ownership information to corporate compliance functions. The blog posting by Alistair King is here, and the replay of the important webinar is here. I have emphasized in a number of postings the importance of beneficial ownership information to compliance functions. It is not enough to...

It is easy to say something and convince yourself it is true. As George Costanza advised Jerry Seinfeld when Jerry had to take a polygraph examination when he failed to admit that he watched  “Melrose Place,” “Remember Jerry.  It’s  not a lie, if you believe it.” See Video Here. This statement from this Seinfeld episode (Season 6, Episode 16) reminds me of compliance professionals who...

Tom Fox, the Compliance Evangelist and Guru, has posted a new episode of Everything Compliance, a roundtable discussion led by Tom and including Matt Kelly, Jonathan Armstrong, Jay Rosen, and myself. During this episode, we discuss the Uber controversy, blockchain technology, GDPR, and FCPA enforcement trends and questions. Here is a link to the episode. Thanks to Tom, Matt, Jonathan, and Jay!

Compliance officers have a tough job. In most cases, they are overworked, under-resourced, and accountable for significant risks and issues. In the recent compliance vernacular, a CCO has to “operationalize” the company’s compliance program. That requires a CCO to go out and make friends inside the company. CCOs have “natural” friends – legal, internal audit, human resources, and security – which share many common objectives...

The Justice Department’s continuing lack of individual criminal prosecutions in the FCPA arena continues to raise serious questions. DOJ’s issuance of the Yates memorandum was seen as a new and important reiteration of DOJ’s commitment to individual prosecutions. In several significant areas, healthcare and antitrust, individual prosecutions have continued at a significant rate. One could argue that such prosecutions were already occurring in these areas...

Companies that experience a Justice Department criminal investigation undergo a long and painful process. DOJ prosecutors hold the cards when reviewing the facts and deciding whether to indict a company. The United States Attorneys’ Manual (“USAM”) is a comprehensive collection of DOJ policies regarding civil and criminal enforcement issues. The USAM includes specific policies concerning corporate prosecution guidelines.  Specifically, whether to criminally charge a corporation...

When you look outside the FCPA arena and examine DOJ criminal prosecutions in healthcare, antitrust, tax, fraud, and other white-collar areas, there is no shortage of cases against individual violators. I am perplexed, to say the least, why DOJ cannot aggressively prosecute individuals for FCPA crimes in the same manner that prosecutors bring cases against doctors, executives and other individuals for a variety of criminal...

The Justice Department recently resolved two separate FCPA investigations under its Pilot Program. To be sure, DOJ’s resolution of these two matters reinforces the real and tangible benefits of its Pilot Program. Linde In the first case involving Linde North America Inc. and Linde Gas North America (“Linde”), two private New Jersey companies that are subsidiaries of a public German company, the Justice Department issued...

In the immortal words of Goethe, “To have seen Italy without having seen Sicily is not to have seen Italy at all, for Sicily is the clue to everything.” In my experience, I would add to have experienced Sicily is to understand one’s own heart and soul. On this Fourth of July holiday, it is helpful to focus on gratitude and thankfulness. In these turbulent...

The Importance of a Risk and Compliance Program Assessment Wednesday, July 13, 2017, 12 noon EST Sign Up HERE An effective ethics and compliance program requires a careful assessment of risks and existing controls.  In order to design and implement an effective program, a chief compliance officer has to identify and prioritize company risks.  In addition, a CCO has to review and understand how existing compliance...