Happiness is when what you think, what you say, and what you do are in harmony – Mahatma Gandhi Happiness is an elusive concept – for some. For others who may be more enlightened or lived for years, happiness is a feeling that can be attained by commitment, determination and awareness. My keys to happiness are love, gratitude and empathy. Some people are “content” being...
I have to confess – I love the show Shark Tank. Mr. Wonderful, Kevin O’Leary, is my favorite Shark. Mr. Wonderful often reminds the contestants and other Sharks that the central issue in considering business proposals is – How do I make M-O-N-E-Y? The same focus on money has to be at the core of any anti-corruption compliance program. In examining a company’s risk profile,...
For years, companies and compliance professionals have largely dismissed UK Bribery Act enforcement risks. Ever since the effective date for the UK Bribery Act, defense lawyers have been waiting for the SFO to begin serious enforcement actons. Last week may be the beginning of a new era in UL Bribery Act enforcement. First, a UK court approved the SFO’s first deferred prosecution agreement. Standard Bank,...
The Justice Department’s reexamination of corporate incentives to disclose violations appears to be in reaction to the steady escalation of cooperation requirements. In response to these extra burdens, DOJ could be concerned that FCPA voluntary disclosures will dwindle. For years, voluntary disclosures have fueled DOJ’s FCPA enforcement program. In the context of a voluntary disclosure program, I have consistently written that DOJ has failed to...
In the public relations battle following the issuance of the Yates Memo, the Justice Department can now cite one example for the new policy – the recent arrest and charging of Carl Reichel, former President of Warner Chilcott. The Justice Department’s new policy got off to a rocky start: in the same week that the Yates memorandum was adopted, the government announced the GM settlement...
As a federal prosecutor with lots of trial experience, I generally know what questions to ask a witness or a defendant. In the compliance arena, there is much more leeway in how and what questions you ask. Many companies conduct employee surveys. These surveys are usually administered by human resources across the organization every year or two. I do not oppose these surveys but recommend...
The Justice Department’s recent Yates memorandum on individual accountability is a significant event. Sure, you can always find members of the FCPA Paparazzi who will discount the memo, or relegate it to a mere “political” statement. That view is unfortunate and ignores the real implications of the Yates memo. Such a viewpoint also shows how little members of the FCPA Paparazzi understand the true inner...
The SEC’s FCPA enforcement action for $14.6 million against Bristol-Myers Squibb (“BMS”) in China provides a textbook example of how things can go wrong in China. For the compliance practitioner (as well as CEO and senior executives) in the pharmaceutical and medical device industries, the BMS enforcement action should be read and digested as a quick checklist of important principles. The facts underlying the BMS...
It was like a bolt out of the blue – United Airlines’ CEO and two senior executives hastily announced their resignation as a result of their involvement in a bribery scandal with the New York Port Authority. As alleged in various news reports, the United executives secured some concessions for its Newark operations in exchange for United’s operation of a specific flight from Newark to...
Contrary to the opinion of many in the FCPA space, the BNY Mellon settlement and the looming actions against six major financial institutions for hiring practices is not a big shock or surprise. The SEC is not raising a new or novel interpretation of the FCPA. After all, assuming an actor has corrupt intent, there is no real question as to whether hiring a person...
