We are surrounded by bias in a variety of contexts – news, politics, books and Internet information. Given the overwhelming amount of information, some find comfort in information supplied by sources with a bias. We have become comfortable with some level of bias. The key is to understand the bias, the lack of objectivity and then filter the information. Given the highly-charged political and...
Recently, on April 9, 2021, the US Commerce Department’s Bureau of Industry and Security (BIS) adopted new restrictions targeting Burma by applying Export Administration Regulations’(EAR’s) military-intelligence end-use and end-user controls. These controls were first issued in January 2021 and became effective in March 2021. The original rule adopted in January 2021 imposed new end-use and end-user requirements, and new controls on support activities by US...
Tuesday, May 11, 2021 1 PM EST Sign-Up HERE Pharmaceutical, medical device and life science companies continue to face escalating anti-corruption risks in the global marketplace. Companies in these industries face a complex global maze of foreign government laws and regulations that create significant risks for global companies in these sectors. The U.S. Department of Justice, the Securities and Exchange Commission, and foreign law enforcement...
The Biden Administration announced new and significant trade sanctions against Russia. The action was long expected given the Biden Administration’s criticism of Russia, and was a comprehensive response to Russia’s interference in the 2020 US election, its SolarWinds cyberattack and its ongoing occupation of Crimea and threatening addition of troops along the Ukraine border. President Biden issued a new Executive Order, No. 13848, Targeting the...
Matt Stankiewicz, Partner at The Volkov Law Group, rejoins us for another posting on digital currencies. Matt can be reached at [email protected]. With the rise of digital currencies, it was inevitably going to attract the attention of governments. Not just in the regulatory sense, but also in terms of utilization. The blockchain technology underlying these virtual assets provide certain advantages over traditional paper money, some...
Last week, the Biden Administration announced new and significant trade sanctions against Russia. The action was long expected given the Biden Administration’s criticism of Russia, and was a comprehensive response to Russia’s interference in the 2020 US election, its SolarWinds cyberattack and its ongoing occupation of Crimea and threatening addition of troops along the Ukraine border. Over the last few months, OFAC has ratcheted up sanctions against...
The Road to Hell is Paved with Good Intentions – Samuel Johnson, 1775. You can draft and design the best ethics and compliance program – and then fail. You can show every compliance professional an “effective” set of ethics and compliance controls, pristine, drafted elegantly, addressing each and every risk with the perfectly calculated impact, and your program may fail. Why? Paper compliance programs are...
Ethics and compliance has to stand strong when new trends suddenly spring up. Organizations are always ready to embrace the new-fangled shiny object – in this case ESG. Not to be a nattering nabob of negativism (see Spiro Agnew’s comment in 1966 crafted by William Safire), but organizations have to take a deep breath and renew a review of its ethics and compliance program fundamentals. ...
Raymond Kohut, a 68-year old Canadian citizen, a former employee of Swiss commodities trader, Gunvor Group, Ltd., pleaded guilty to paying $22 million in bribes to Ecuadoran government officials at state-owned oil company, PetroEcuador. Kohut pleaded guilty to one count of money laundering conspiracy before a federal judge in Brooklyn, New York, the Eastern District of New York. Kohut agreed to forfeit $2.2 million. Gunvor...
The Volkov Law Group is pleased to announce the promotion of Matt Stankiewicz to Partner, and the addition of Ameer Gopalani as Senior Counsel to the Firm. Matt Stankiewicz has distinguished himself as a seasoned and talented attorney, who is committed to integrity, ethical values and delivering high-quality, client service. Matt joined the Volkov Law Group in 2013, while completing service as part of the...
