As we enjoy the remainder of the summer and get ready to launch into a new fall season (no, not football) but a time for renewal and recommitment, this may be a good opportunity to examine and analyze your own compliance program. DOJ’s framework provides a valuable set of questions and issues needed to conduct this analysis. It is important to note the critical ability...
As Supreme Court Justice Potter Stewart eloquently opined in Jacobellis v. Ohio (1964), on the legal definition of obscenity, “I know it when I see it.” This same test applies to other issues as well — when it comes to an effective ethics and compliance program, and an effective CCO, “[We] know it when [we] see it.” Or conversely (and perhaps confusingly), “[We] know it...
There are lots of sources for compliance guidance — prosecutors, regulators, compliance organizations, and many others have set forth important and valuable guidance for the design and implementation of an effective ethics and compliance program. All of this guidance is helpful and has advanced the cause of corporate compliance. After all, for decades now, the importance of corporate ethics and compliance has steadily grown. It...
OK, I admit it. I have been — and continue to be– hyper-focused on the proper role and responsibilities for Chief Compliance Officers. Not that I see any cause for alarm, but it is easy to lose focus in the sea of so-called hot issues — ESG, Diversity, Climate Change, Threats to Democracy, Cybersecurity and Data Privacy, each of which is an important component and...
Let me paint a picture for you. It is not pretty. Unfortunately, this picture occurs all too often in the corporate governance landscape. The first picture captures the presence of chief compliance officer in a stand-alone office in a mid-size public company. The company is not subject to any robust regulatory regime. The CCO has a staff of one or two people, coordinates some compliance...
Let me start with yet another profound grasp of the obvious — leadership requires many important interpersonal and intellectual capabilities. I do not intend to list the important ones right now but leadership requires an understanding of influence and the use of symbolic actions that may resonate through an organization and its constituents. Effective leaders understand know that symbolic acts drive organizational behaviors. Symbolic actions...
It is hard to follow all the news, events and political trends across the globe. To the regular observer, the ability to identify, measure and respond to evolving risks has become more chaotic and near impossible. Risks are multiplying exponentially — it can be overwhelming. In the end, however, ethics and compliance professionals (“E&C officers,” Chief Compliance Officers (“CCOs”),” and “compliance professionals”) have several strengths...
The Volkov Law Group is pleased to publish this blog article co-authored by two of our summer interns, Benjamin Clachko, a rising sophomore at the University of Vermont, and Ali Kaplan, a rising sophomore at Lehigh University. Benji and Ali have been learning about civil litigation generally, and discovery in particular. This recent Supreme Court opinion caught their attention. We think it may be of...
The Department of Treasury issued additional sanctions against Russia, targeting almost 100 entities and individuals, and prohibited import of Russian gold. The United States’ latest action reflected commitments recently reached among the G-7 alliance to prohibit gold imports and target Russia’s industrial base, military and intelligence units, and sanctions evaders. To follow up on these commitments. FinCEN and the U.S. Department of Commerce announced their...
Before the devastating pandemic, my wife, Rosetta and I usually found ourselves in Sicily during the 4th of July holiday. It just was the way our journey occurred. In the past, I often would take the July 4th holiday opportunity to reflect on the Sicilian people, the island, its food and culture. This year, fortunately, we have returned to Sicily for another adventure. It is...
