In 2010, Wall Street shuddered when it was disclosed that the SEC had launched an inquiry into financial institutions, investment banks and private equity firms for potential FCPA violations involving interactions with sovereign wealth funds.  Since the initial press reports on the investigation, nothing has happened. DOJ’s recent criminal prosecution against three individuals from Direct Access Partners (DAP) and the Venezuelan official from BANDES, is...

DOJ’s criminal enforcement of the FCPA was the story of the second quarter of 2013.  DOJ’s splash was so big on criminal enforcement that it overshadowed DOJ and SEC’s continuing enforcement of the FCPA against corporations. Whether you favor or oppose DOJ and SEC’s use of DPAs and NPAs, FCPA enforcement actions in the second quarter of 2013 resulted in fines, compliance requirements and even...

Let me remind everyone about the FCPA doomsayers – those who were worried and fretted over the absence of FCPA enforcement actions in the first quarter of 2013.  Remember the articles which wondered about the FCPA “slowdown” or whether DOJ prosecutors were gun shy after the Shot Show debacle.  Well, DOJ has put an end to all of these misguided prognostications. It is clear that...

International enforcement of corruption laws is increasing but far slower than many predicted.  As anti-corruption law enforcement increases, companies and individuals face the risk of a multi-jurisdictional nightmare:  when a company has to pay fines in multiple jurisdictions for a single bribery scheme, or an individual may be subject to multiple punishment for the same conduct.  This possibility could become a reality.   Practitioners will...

The healthcare industry has a long history of innovative compliance policies and strategies.  The government’s role in the healthcare industry is going to grow even more after 2014, when a number of Obamacare provisions are triggered.  For healthcare companies, regulation and enforcement will increase. The government’s enforcement programs are focused on civil False Claims Act cases and criminal fraud cases.  The government’s success in both...

Italy is a popular destination for tourists and those seeking connection with their Italian roots.  (I confess—I married a beautiful and wonderful woman from Sicily, so I am a little biased).  Europeans love to travel to Italy during their lengthy vacations.  Americans look for family connections while touring Italy – everyone has Italian relatives in some village. When it comes to Italian politics, people avoid...

After years of litigation and twists and turns, Mr. Bourke finally entered jail to serve his one year and one day sentence.  Whatever you may think about the facts of the case, we can all agree on one thing – the result certainly would have been different if Mr. Bourke had a compliance officer at his side.  It is interesting to think about the facts...

Compliance programs depend on accurate and timely information.   AML compliance centers on sifting through thousands of transactions and matching them against risk profiles.  The result of that process is a focused examination of transactions and identification of suspicious transactions. Financial institutions have to create a customer risk profile against which they can measure specific transactions as they occur.  This customer profile is used as...

I often use sarcasm to make the point that compliance solutions are just a profound grasp of the obvious.  It is a little simplistic. On the other hand, compliance can become a little too complex.  People like to come up with “sophisticated” techniques and phraseology to demonstrate they are “compliance thinkers.”  Compliance professionals who wrap themselves in complexity are usually hiding from their own personal...