Tagged: Chief Compliance Officer

26 Jun, 2022

Episode 239 — DOJ’s New CCO Certification Requirement

The Department of Justice continues to respond to the compliance community’s concerns about the new certification requirement adopted as part of the Glencore FCPA enforcement action. DOJ has adopted this new requirement to “empower” CCOs and to ensure that CCOs have a “seat at the [senior management] table.” While these are all laudable goals, CCOs continue to question whether DOJ’s new certification requirement will undermine their authority...

Podcasts

20 Jun, 2022

Episode 238: 2022 FCPA Enforcement Trends . . . So Far

In following the Justice Department and the Securities Exchange Commission FCPA enforcement actions, I am always reminded of the popular phrase — “reading the tea leaves.” (or “tasseography,” a fortune-telling method based on tea leave patterns in tea sediments). Despite a slow initial year in 2021, the Biden Administration’s stamp and push on FCPA enforcement is becoming clear. Keep in mind, DOJ and SEC officials have...

General

24 May, 2022

DOJ Criminal Division AAG Underscores Role of CCOs and Announces CCO Certification Requirements

In a homecoming speech, DOJ’s Assistant Attorney General Kenneth Polite gave a rousing speech to a room full of compliance professionals at the annual Compliance Week meeting in Washington, D.C. AAG Polite, who has served as a CCO himself, embraced the mission of compliance officers as a critical part of corporate governance systems. AAG Polite specifically recognized the importance of the compliance functions and the...

General

22 Mar, 2022

FINRA Issues Guidance on CCO Liability

I am reluctant to wade into the issue of CCO liability because I gravitate toward a simplistic answer to a complex question – when does a CCO cross the line to warrant civil or even criminal prosecution? My simplistic response is trite – “When they break the law or when the facts warrant prosecution.” Based on my simplistic view, I have resisted dramatic warnings and...

General

9 Nov, 2021

Deputy AG Lisa Monaco Suggests Major Changes to the DOJ’s Corporate Enforcement Efforts

Alex Cotoia, Regulatory Manager at The Volkov Law Group, rejoins us for a post providing additional color into U.S. Deputy Attorney General Lisa Monaco’s recent announcement on changes to DOJ policies. Alex can be reached at [email protected] On October 28, 2021, U.S. Deputy Attorney General Lisa O. Monaco—a veteran of government service in previous Administrations and a champion of corporate accountability—announced several significant changes to...

Podcasts

17 Oct, 2021

Episode 210 — HR and CCOs Watch Out!! DOJ’s Aggressive Antitrust Enforcement in Labor Markets

The Justice Department’s Antitrust Division has targeted collusion in labor markets for criminal prosecution. This was not unexpected. Indeed, the Antitrust Division gave plenty of warning to the high-tech industry and other companies that criminal prosecutions were on the horizon. DOJ handled initial prosecutions of labor market collusion in the high-tech sector by civil prosecutions and resolutions. Out of an abundance of caution, DOJ recognized that it wanted...

General

14 Oct, 2021

CCOs: Expert Problem Solvers

If you follow my blog, you know that I am passionate about the compliance profession. Chief compliance officers have unique talents, expertise and leadership qualities. CCOs are committed ethics warriors. No one else can claim that same mission. CCOs are the natural stewards of a company’s ethical culture. Of course, a company can appoint a separate chief ethics officer to distinguish between the ethics and...

General

15 Sep, 2021

Culture and a Company’s Most Valuable Intangible Asset – its Reputation

Corporate leaders and executives like to mouth the words surrounding corporate culture. It is part of the code they all use with each other. Few of them, however, really know what the word means or even dare to understand the importance to their business. Let’s face it – corporate leaders and executives like to talk the talk but they rarely if ever understand what they...

General

22 Sep, 2020

Tom Fox Podcast Featuring John Fons, Former Head of Compliance at Modine, on CCO Challenges

John Fons, former head of Modine Manufacturing in Wisconsin, joins Tom Fox for a fascinating podcast discussion on compliance issues. John Fons is a former client, a long-time friend and professional colleague. He offers a valuable perspective on compliance issues, board relationships, and effective compliance oversight and strategies. The Podcast is available HERE.

General

14 Aug, 2020

Companies and Change: A CCO Challenge

Change before you have to – Jack Welch The key to change . . . is to let go of fear – Rosanne Cash Corporations are slow to change. Unless forced by government prosecutors or regulators, companies inherently resist change, even when such changes can make a business more profitable. Corporate behavior often reflects individual human perceptions and conduct. Individuals are slow to change unless...