It is difficult for regulators and law enforcement to keep up with creative new ways in which criminals choose to store and trade money.  This is especially true in the Internet-age where anonymity and ease of communications and transactions are available. Regulators are now wrestling with the intractable issue of virtual currencies.  Everyone has been reading about Bitcoin as the new viper of virtual currency. ...

Building an “Effective” Anti-Corruption Compliance Program September 10, 2013  12 Noon – 1 PM EST Register: Here Companies are devoting more time and attention to building a robust anti-corruption compliance program. As they do so, it is important to design the right structure for the compliance program — from the Corporate Board, to the C-Suite and the role of the Chief Compliance Officer. An effective anti-corruption...

With all the attention paid to anti-corruption enforcement and compliance, it always amazes me how successful the Department of Justice criminal antitrust enforcement program has been and will continue to be.  Starting in the 1990s and continuing year-after-year, the Antitrust Division has built a significant record of corporate and individual prosecution of cartel criminals.  In fiscal year 2012, the Antitrust Division collected a record $1.1...

Change is difficult.  I understand that.  Business leaders know the importance of change, adaptation and innovation.  However, when it comes to compliance and ethics, senior managers slowly embrace change. With all the recent press on spiraling anti-corruption investigations and risks, you would think that business leaders would redouble their efforts to improve their anti-corruption programs.  Survey after survey confirms that business leaders recognize corruption risks...

As a former US Attorney for the Southern District of New York, Mary Jo White promised a new and more aggressive SEC.  She is starting to deliver on that promise. Reams and reams of client alerts have been sent out by law firms warning of a new policy requiring certain defendants to admit their wrongdoing.  At first glance, it may seem like the policy is...

Companies are embracing the independent and empowered chief compliance officer.  The trend is continuing to grow and there is no reason it will stop. CCOs are no longer reporting to the general counsel but are now moving into the C-Suite where they can exercise a leadership role.  CCOs are becoming an invaluable resource in the C-Suite, carrying the responsibility for ensuring compliance and ethical conduct...

You have to admire chief compliance officers for their tenacity and ability to multi-task.  They are the consummate jugglers of important projects, strategies and tasks.  They can never completely finish their tasks – when one is finished, the list continues to grow with more to dos. Over the last few years, companies have paid more attention to third-party due diligence.  As a result, companies have...

A confident person is willing to admit a mistake.  An insecure person is unwilling to admit a mistake, even in the face of overwhelming evidence contrary to his or her argument. Not that my prior position was mistaken but I have argued that one of several messages in the  FCPA Guidance was that companies are spending too much time, and too many resources in reviewing...

Lawyers and compliance professionals repeatedly tout the importance of an internal investigation to protecting a company from devastating consequences from an enforcement action. An internal investigation is important for the company: (1) to evaluate the facts and the potential legal consequences from the events; and (2) to demonstrate the company’s commitment to remediate any deficiencies in its internal controls and compliance program. An effective internal...

Can you imagine being the public relations director for China these days?  Even in the limited world of foreign bribery, the Chinese have had a rough couple of weeks.  Add the latest news to the mix and you have a recipe for a public relations nightmare. JP Morgan disclosed it may have violated the FCPA in hiring of relatives of Chinese foreign officials.  They are...