It is easy to be dogmatic in blog postings — to express an unvarnished opinion that sounds valid. While it may not be supported by hard data or valid evidence, compliance officers are used to trusting their “gut feelings,” when it comes to compliance. Compliance professionals with experience agree largely on big ticket issues, and this view often reflects lots of real-world experience. Sometimes the...
NAVEX continues to be one of the premier sources of essential annual benchmarking studies. Recently, NAVEX issued its 2022 Definitive Risk and Compliance Benchmark Report. The Report was based on over 1100 survey responses from compliance professionals around the world. From the topline view, NAVEX reported that organizations have successfully addressed post-COVID work environments with a combination of on-site, remote and hybrid arrangements. In this...
We constantly hear about the importance of “accountability,” meaning that organizations and individuals have to be held accountable for misconduct or failures to act. The focus on accountability is a positive trend, consistent with our ideas of justice and fairness, Within an organization, accountability is a cornerstone of organizational justice. When demands for accountability reach the board room and individual board members, however, there are...
The Episode is available HERE. Matt Stankiewicz, a Partner at Volkov Law, is a leading industry expert on cryptocurrency. Bittrex, a leading cryptocurrency exchange, suffered twin enforcement actions for AML and Sanctions Compliance deficiencies. Matt takes a deep dive on the enforcement actions and outlines practical compliance steps that every cryptocurrency exchange should implement. The Episode is available HERE. Corruption Crime and Compliance is available...
The Department of Justice is pushing its commitment to voluntary disclosure programs. Companies, however, are not lining up at DOJ’s door. The balance between sitting tight or voluntary disclosures requires care. To complicate matters further, in certain cases, regulated companies have to face civil enforcement issues and coordinate voluntary disclosure programs offered by regulatory agencies. A perfect example of this dual track situation is compliance...
The Department of Justice and many regulatory agencies have rolled out the red carpet for companies to cross the threshold and voluntarily disclose criminal conduct in the hopes of gaining leniency, immunity and reduced fines and penalties. From DOJ’s perspective, a voluntary disclosure program increases DOJ’s ability to prosecute more organizations and individuals engaged in wrongdoing. Whether DOJ’s voluntary disclosure efforts have been as successful...
The Justice Department promised aggressive enforcement of export controls and sanctions against Russia. To that end, DOJ initiated the KleptoCapture task force to focus law enforcement investigations of export violators. DOJ and the KleptoCapture task force have delivered. The first significant case confirms the importance of tracking DOJ and law enforcement resources. When an initiative is announced and includes assignment of personnel, you can rest...
The Antitrust Division announced last year that it intended to reinvigorate enforcement of Section 8 of the Clayton Act, which prohibits directors and officers serving simultaneously on the boards of competitors (with limited exceptions). Assistant Attorney General Jonathan Kanter continues to implement his aggressive agenda unfazed by his mixed record of success in litigation. In particular, the Antitrust Division has an uneven record in its...
The Justice Department continues to push an aggressive agenda against businesses. It is committed to demonstrating its resolve to prosecute companies and individuals from the business community. Whether it is antitrust, FCPA, False Claims Act, or other assorted white collar crimes, DOJ continues to demonstrate its focus on white collar crimes. The lowest-hanging fruit to demonstrate this renewed focus is to focus on companies connected...
Episode 251 is available here. Maria D’Avanzo is the Chief Evangelist Officer at Traliant. Maria provides key insights on corporate ethics and compliance training programs. Maria describes how to take your training program to the next level and tailor the content to deliver training on important issues based on your company’s risk assessment. In this Episode, Mike and Maria discuss compliance training, culture and new...
