The recent prosecution of two registered broker-dealers and a Venezuelan government official for FCPA violations underscores a point I often make – nothing good ever happens when the government has a reason to look around in your business. Whether it is to inspect for safety violations or any other regulatory regime, companies run the risk that the government will find something they do not like...
With the political forces aligned to fight corruption, Russia may be finally making a serious and sincere effort to address corruption in Russian society. Do not get me wrong – Russia has a long way to go and there are a lot of cracks in the system. Corruption will always be an issue which Russia fights. In the absence of an independent judiciary and media,...
My heritage is Russian; I know how Russians think and what makes them tick. Like its literary history, Russians are complex. If you try to generalize, or underestimate them, they will make mincemeat out of you. Businesses which are interested in entering Russia face a difficult environment, with huge upside potential and equal amounts of risks. The political atmosphere in Russia is shifting. Politics surrounding...
June 4, 2013, 12 Noon -1 PM EST Register Here Global companies wrestle with FCPA compliance issues every day. In today’s aggressive enforcement environment, compliance and legal staff have to develop innovative solutions to ensure compliance and promote business interests. In this complex compliance world, there are important principles which can be applied to solve difficult compliance problems. Join Michael Volkov, CEO of The Volkov...
Forgive me, as a former federal prosecutor for 17 years, it is hard to watch the Jodi Arias trial, not because she is guilty and deserves the death penalty but because of the incredibly poor performance by Judge Sherry Stephens. The trial has become a circus, and spun even more wildly out of control during jury deliberations. Judge Stephens is a judge who has no...
Companies with existing compliance programs are starting to focus on the importance of monitoring, auditing and improving their compliance programs. The Sentencing Guidelines and the FCPA Guidance both emphasize the importance of transforming a compliance program from a “paper” program to an “evolving” compliance program. A paper program is defined as policies and procedures with little assurance that the company is following the program, and...
Just to show my age and my fascination with history – the recent flap over the IRS targeting of Tea Party-affiliated groups reminds everyone in my age bracket (and above) of the legendary Nixon(ian) scandals during the Watergate era. Since I have practiced law in DC all my life, I can be a little cynical. The current IRS scandal is horrible – and certainly, the...
Prosecutors are a fun bunch and they love their jobs and their mission – to prosecute law-breakers for violating the law. Prosecutors especially enjoy when they are charged with increasing enforcement of a specific law and watching the reaction of the industry to their prosecutorial impact. HIPAA enforcement is a perfect example of this principle. HIPAA has been on the books for nearly 20 years,...
The FCPA Paparazzi has been at it again – it is fascinating to watch the reaction of practitioners and commentators in the FCPA arena. You can usually find someone who will agree with any position you want to take. Paparazzi members are usually all over the map, trying to differentiate their position, their take on the issue, so as to carve out a unique and...
Hopefully, you and your company will never have to prove to a court or argue to the Justice Department that your anti-corruption compliance program is “effective.” Even if you never face that audience, a Chief Compliance Officer (CCO) needs to measure the effectiveness of the compliance program. It is important to develop realistic and meaningful metrics for a compliance program. Demonstrating that a compliance program...
