Featured Articles:

General

27 Sep, 2022

DOJ Imposes New Standards for Evaluation of Corporate Compliance Programs: Compensations Structures that Promote Compliance (Part II of IV)

The Monaco Memo is a watershed moment as part of DOJ’s evolution and advocacy for effective ethics and compliance programs.  We have seen prior moments of significant action — DOJ’s adoption of the FCPA Guidance, DOJ’s issuance of its Evaluation of Corporate Compliance Programs, and now the Monaco Memo which takes compliance into a new world with new opportunities and challenges. The Monaco Memo starts...

General

26 Sep, 2022

DOJ Issues Sweeping New Corporate Criminal Enforcement Policy — A New Era of Compliance Begins with Increased Focus on Compensation and Incentives (Part I of IV)

The Biden Administration promised a new, aggressive approach to corporate crime.  Well, the Justice Department just delivered a new, comprehensive policy that raises a number of issues, some of which are likely to be controversial.  The new policy incorporates reforms announced last October that largely centered on prior corporate criminal and civil records; appointment of independent compliance monitors and expanding review of responsible persons in...

Events

26 Sep, 2022

Webinar: DOJ’s New Corporate Enforcement Policy — Taking Compliance to the Next Level

Webinar: DOJ’s New Corporate Enforcement Policy — Taking Complaince to the Next Level October 25, 2022 12 Noon EST SIGN UP HERE The Biden Department of Justice promised a tough, new approach to white collar enforcement. In a series of steps, the Justice Department has set out a new and comprehensive approach to corporate criminal enforcement with a direct and immediate impact across the Justice...

Podcasts

25 Sep, 2022

Episode 248 — Deep Dive into the GOL Brazil FCPA Enforcement Action

The Department of Justice and the Securities and Exchange Commission reached a $41 million settlement with GOL Linhas Aéreas Inteligentes S.A. (“GOL”) to resolve criminal and civil foreign bribery charges. GOL entered into a three-year deferred prosecution agreement (“DPA”) with DOJ in exchange for payment of a $17 million criminal penalty. DOJ credited $1.7 million of that penalty against a $3.4 million fine that GOL agreed...

Events

23 Sep, 2022

Michael Volkov and Matt Crome Speak on Third-Party Risk Management at the NAVEX Next Global Virtual Conference

NAVEX announced its 11th annual global virtual conference. The opening day of the conference will be webcast on September 29, 2022. This year’s opening keynote will feature former Olympian and the first female president of U.S. Soccer, Cindy Parlow Cone. I am pleased to participate in the conference with Matt Crome in a session on the Future of Holistic Third-Party Risk Management — Trends to...

General

22 Sep, 2022

Focusing on an Effective Employee Reporting and Investigation System

We often hear about the “essential” elements of an effective ethics and compliance programs.  It is natural for professionals to define specific elements of an ethics and compliance framework.  This is an important way to break down a program for assessment purposes. While analyzing the specific functions in a program, it is important to avoid a narrow review of each element. Instead, as in most...

General

20 Sep, 2022

GOL’s Bribery Schemes Orchestrated by Board Director (Part II of II)

GOL’s bribery schemes present some interesting lessons.  Interestingly, at the center of the bribery scheme was a member of GOL’s board of directors.  The bribery scheme was motivated by potential legislation that would benefit GOL and other Brazilian airlines.  In 2011, Brazil proposed an economic stimulus consisting, in part, with reduced payroll taxes for labor-intensive industries.  To support this reduction, GOL’s director agreed to pay...

General

20 Sep, 2022

DOJ and SEC Secure $41 Million Settlement from Brazilian Airline for FCPA Violations (Part I of II)

The Department of Justice and the Securities and Exchange Commission reached a $41 million settlement with GOL Linhas Aéreas Inteligentes S.A. (“GOL”) to resolve criminal and civil foreign bribery charges. GOL entered into a three-year deferred prosecution agreement (“DPA”) with DOJ in exchange for payment of a $17 million criminal penalty.  DOJ credited $1.7 million of that penalty against a $3.4 million fine that GOL...

General

19 Sep, 2022

OFAC Releases Preliminary Guidance on Price Caps for Russian Origin Crude Oil and Petroleum Products

Alexander Cotoia, Regulatory Complaince Manager at The Volkov Law Group, re-joins us for a posting on OFAC’s preliminary guidance relating to its price caps for Russian origin oil and petroleum products. Alex can be contacted at [email protected]. On September 9, 2022, the United States Department of the Treasury’s Office of Foreign Asset Control (“OFAC”) released “Preliminary Guidance” concerning a ban on maritime transportation services involving...

Podcasts

18 Sep, 2022

Episode 247 — Corporate Culture Round Up

Corporate culture is all the rage now, meaning it is an often used topic to signal commitment, sensitivity to issues of employee concern, and an awareness of governance trends. In practice, as we all know, culture is not just about words — it is about action. As the often repeated phrase goes — talk is cheap.  In this Corporate Culture Roundup Episode, Michael Volkov examines some culture-related...

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