Today I begin a three-part series on reputational damage. The first part tries to define the term “reputational damage;” the second part focuses on managing threats to a company’s reputation; and the final posting proposes creation of a senior risk manager in a corporate leadership team. If you ask CEOs and board members about the threats to a company resulting from a DOJ enforcement action,...
Here at Corruption, Crime and Compliance, we aim to please our readers, subscribers, clients, associates and friends. We are committed to promoting the importance of ethics and compliance strategies, to supporting corporate governance improvements, and to implementing effective ethics and compliance functions. At the same time, we offer clients representation in response to government inquiries, subpoenas, investigations, as well as civil litigation. Our legal services...
Webinar: Anti-Corruption Compliance in the High-Tech Sector Wednesday, September 9, 2015, 12 Noon EST Sign Up Here The Justice Department and the SEC have focused FCPA enforcement resources on high-tech companies. Several high-tech companies have settled FCPA enforcement actions, while others remain under investigation. In a recent enforcement action, an SAP former executive plead guilty to an FCPA conspiracy and is awaiting...
We always bandy the phrase around of “people skills,” or the old trendy phrase of “emotional intelligence.” Hopefully, this posting can create some ideas around new approaches to these old concepts and trendy terminology. Compliance professionals need to develop strong interpersonal skills. It is one of several important personal skills and talents that are needed for a compliance officer to succeed. Maybe the point is...
As everyone knows, I am an advocate for promoting and maintaining a company’s culture of ethics and compliance (not compliance and ethics). The best investment a company can make is to create and maintain a positive commitment to an ethical culture. I often repeat myself (just ask my wife and kids), but a culture of ethics is far more important than well-designed and effective policies...
When DOJ acts, they like to make a splash. While the FCPA Paparazzi have been lamenting the “slow down” in FCPA enforcement actions and the increase in case closings, DOJ still makes its mark when it acts, and I expect more DOJ actions in the last quarter of 2015. DOJ’s latest salvo was the criminal plea of a former SAP official, a US citizen, for...
The SEC is having a good year in the FCPA enforcement arena. As a former prosecutor, my eyes would sometimes glaze over when discussing civil enforcement actions. The SEC, however, has turned its FCPA enforcement program into a productive and important component of its overall mission. BNY Mellon agreed to pay $14.8 million for the hiring of three interns in order to curry favor with...
Change does not occur overnight. The SEC, as much as any other government agency, has touted its hiring of former prosecutors and use of aggressive investigation tactics. I always took those statements with a grain of salt – after all, the SEC is enforcing civil laws and regulations. A prosecutor can only do so much in the civil enforcement arena. In a recent Wall Street...
Government prosecutors spend time promoting enforcement programs and encouraging companies to design and implement effective ethics and compliance programs. The blogosphere is filled with articles, surveys, studies, warnings, and marketing efforts all directed to encourage companies to increase compliance programs and resources. Companies have responded by increasing attention and resources to ethics and compliance programs. In particular, regulated industries are spending vast sums to enhance,...
Talk is cheap, especially when it comes to ethics and compliance programs. Words are easy but action and commitment are even harder. The compliance industry needs to put more meat on the bones of compliance. It is not enough to rely on subjective standards for determining whether an ethics and compliance program is effective. Compliance professionals need to design meaningful measurements and standards for ethics...
