Let’s start with a few basic assumptions – we all know that third parties are often the most significant risk for corruption.  Of course, a company’s own sales staff can be a significant risk, just as much as a third-party.  However, most companies recognize that they have a greater ability to control the actions of their sales staff than their third parties. Knowing that your...

The story of “The Boy Who Cried Wolf” applies with full force to the securities industry and the FCPA.  Since 2010, FCPA practitioners have been crying out about FCPA risks in the securities industry. First, in 2010, it was the SEC letters issued to various investment banks, private equity and hedge funds.  The SEC was concerned about anti-corruption compliance and interactions with sovereign wealth funds...

Webinar – FCPA Compliance Programs: A Review of Best Practices July 9, 2013 12 Noon – 1 PM EST Register: Here  In response to aggressive FCPA enforcement, the compliance industry has embraced innovative strategies and tools. As companies increase resources for compliance programs, it is important to stay abreast of industry best practices. Join Michael Volkov, CEO of The Volkov Law Group, for an examination of FCPA compliance...

Doctors better get used to government regulation.  The Affordable Healthcare Act contains a lengthy complement of new laws and regulations.  Physicians are under greater government scrutiny.  As Medicare expands and inevitably grows, physicians face a growing number of risks. Some doctors have sworn off Medicare and Medicaid patients because of government regulation.  Not all doctors can afford to do that.  As a result, physicians are...

People love to make mountains out of mole hills.  Or to put in another way (as my daughter might say), “She/he is a drama freak.” When it comes to structuring a compliance and ethics program, and the reporting lines, I have been accused of being a “drama freak,” meaning that I have advocated for an independent and empowered chief compliance officer.  What does an independent...

Forgive me for dedicating a posting to this topic, since I have a vested interest in this topic.  I have conducted a number of Anti-Corruption Compliance Program Assessments.  I am a strong advocate for conducting such assessments.  My belief has nothing to do with compliance with the Sentencing Guidelines or the DOJ/SEC FCPA Resource Guide, which include specific directives to businesses to conduct such assessments. ...

We all remember the fun we had as children playing hide-and-seek.  It was a great game and those of us who are parents have passed on the rich tradition associated with that game.  Unfortunately, in our kids’ world, I am sure it has been turned into an “RPG” (Role Playing game) which is played online with hundreds of thousands of players around the globe. When...

My good friend and mentor, Judge Sporkin, is not shy nor bashful about his views on the FCPA.  When he heard about DOJ’s undercover sting in the Shot Show case, he scoffed, “What a mistake!  The government does not need to manufacture bribery.  There is plenty going on and they should prosecute those cases.” His point was well taken.  His point applies equally to the...

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...