Tone-at-the-top says it all.  Without the support of the CEO, a Chief Compliance Officer is limited in what he or she can accomplish.  If there is no commitment from the CEO, a CCO can propose and possibly build great compliance systems, adopt state-of-the-art policies and procedures, and bring about a change in attitude within the compliance department.  However, the CCO’s compliance program will be limited...

We always read that corporate leaders regularly identify data security as one of the top-five risks they face in the business world. Many companies are appointing a Chief Privacy Officer to oversee the proper handling of data.  In some cases, Chief Compliance Officers are charged with responsibility for protecting a company’s data and making sure that the company does not violate any law or regulation...

Whenever a new competitor threatens an established industry, you can always count on entrenched competitors to use any strategy they can to frustrate the new competing technology.  Our economic history is replete with examples of this phenomena. The virtual currency industry, which is rapidly growing, is a threat to traditional financial companies.  As more e-commerce websites and Internet businesses embrace virtual currencies, there is likely...

Fine-Tuning Your Anti-Corruption Compliance Program  October 10, 2013 12 Noon – 1 PM EST  Register: Here In this era of aggressive FCPA enforcement, companies are adopting anti-corruption compliance programs. The Department of Justice and the SEC have warned companies against adopting “paper compliance programs” without meaningful and consistent implementation. In recent weeks, FCPA enforcement has focused on hiring of relatives of foreign officials and corruption...

Healthcare Fraud Compliance  October 9, 2013 12 Noon – 1 PM EST Register: Here The Department of Justice and HHS-OIG have focused on prosecution of healthcare fraud. The government has effectively used a complement of criminal and civil tools to secure large fines and penalties. Healthcare providers, including hospitals, doctors, home healthcare, nursing homes and other suppliers are aggressively investigated and prosecuted. In this era...

It is almost a government rite of passage – when a new leader takes the reins, the chessboard has to be reorganized to reflect the new leader’s “new priorities.”  When it comes to the SEC, and the new Chairwoman Mary Jo White, the “new priority” is the return to an oldie but goodie – accounting fraud. Let’s face it – the SEC does it best...

In a fitting tribute to the departing Deputy Assistant Attorney General Scott Hammond, the architect of the Antitrust Division’s criminal enforcement plan, the Department of Justice last week announced a record criminal settlement in its largest criminal investigation ever – the auto parts investigation. Nine Japanese companies and two executives agree to plead guilty and pay fines totaling more than $740 million for a price...

I would like to think of myself as an advocate for the Chief Compliance Officer.  It is easy to see why the CCO and the General Counsel should be separate individuals but close colleagues who depend on each other.  Separation and dependence is a hard act to put together in one relationship but it can be done. Just because a company has set up the...

The privilege to serve on a corporate board is no longer the cushy experience of our forefathers.  The increase in enforcement actions has led to a dramatic change in the role – and the risks – facing corporate boards. Companies dread hearing lawyers recommend the need for an internal investigation.  Alarm bells and whistles go off and corporate board members have to take a deep...

The growth of the compliance industry has included an increase in business surveys and specific attitudes towards corruption and compliance programs.  They are interesting to read, not as the definitive source of business compliance trends, but as one of several pieces in the compliance puzzle. I try to follow most of the significant compliance surveys and look for interesting issues to highlight.  Every survey is...