The Justice Department and the SEC should be credited with promoting new compliance strategies and best practices. Whatever you may think about the DOJ/SEC FCPA enforcement program, they have pushed businesses to enhance their compliance programs and to develop new risk management techniques. In recent years, DOJ and SEC have pushed the concept of proactive audits in high-risk areas. Internal audits are the first to...
Every company has its share of internal politics, rivalries and tensions. No organization is free from internal strife. For a company to be successful, you need talented, ambitious and intelligent people. It is hard for a company to avoid internal struggles, turf wars and competition among rivals. It is part of the healthy energy which drives a company forward. Occasionally, internal jockeying can be damaging...
A bribe is a bribe. It is not as easy as it sounds. Not all payments of money or transfers of value are bribes. The FCPA tells us that. It is even more complicated when trying to navigate Anti-Kickback and Stark law violations. Doctors like to make money. As the government expands its role in our healthcare system, doctors have to be even more mindful...
The Antitrust Division has always had a special place in the Department of Justice. It is a world unto itself. Depending on the Administration, the Antitrust Division can rise or fall in the enforcement world. The change in enforcement is most pronounced in the civil arena – mergers and civil enforcement. Criminal enforcement is something everyone agrees on – price-fixing, territorial allocations and other agreements...
The old adage – if something is too good to be true, it probably is not – applies with equal force in the world of bribery and intrigue. The recent arrest of the mining executive for obstruction of the Justice Department’s FCPA investigation of bribery of foreign officials in Guinea underscores the risks of undercover operations. At the recent Dow Jones Compliance Symposium in Washington,...
With all the attention on the Jodi Arias trial, I think it is worthwhile to identify good and bad trial practices. I will try to refrain from lengthy criticisms but there are some points to be made. If anyone thinks the Jodi Arias trial is a sterling example of a criminal trial in our justice system, they are surely mistaken. Much of the questioning, on...
As the old saying goes, even a broken clock is correct two times a day. My prediction several weeks ago is turning out to be on target. FCPA enforcement is continuing and will increase throughout the year – DOJ/SEC resources are available and long-term investigations are bearing fruit. In the last week, DOJ announced criminal indictments/pleas with three individuals – two from Alstom and one...
There are many unique challenges to managing an AML compliance program. Depending on the size of the bank or financial institution, each presents a different constellation of compliance factors. Not to be trite but a lot depends on the size of the business and the accompanying volume of transactions and activities. In comparison to an anti-corruption program where the focus is on interactions between company...
I apologize for the topic of this posting but I am compelled to voice my concerns. As a former prosecutor and now white-collar defense attorney, it is painful to watch a criminal trial which is out of control. ( I know that watching this trial is akin to admitting that I like to watch soap operas but my trial curiosity got the better of me)....
It is not every day that I can report on a new governance innovation which is being rapidly embraced and implemented by companies. It may be one of the most significant corporate governance developments in the last five years, almost matching the empowerment of independent compliance officers. A few years ago the percentage of companies reporting the creation of a compliance committee was around 20...
