Each year I have identified the so-called “person” of the year to capture the most significant enforcement and compliance trend. In the past, I have given the award to the Chief Compliance Officer, the Ethics Officer, the Prosecutors, and others. This year is not an easy choice. In my view, there have been three significant events or trends, each of which could easily be named...
When the going gets tough, the tough do not necessarily get going. This is evident in the world of corporate governance, compliance, and defense against aggressive government enforcement. Corporate lobbying interests are pushing a new and dangerous agenda, one that is shortsighted and certain to create problems for chief compliance officers. Several years ago the Chamber of Commerce launched an attack on FCPA enforcement with...
Lauren Connell, Managing Associate at The Volkov Law Group, joins us again for a posting about third-party due diligence. Lauren’s profile is here, and she can be reached at [email protected]. Most discussions of third party due diligence begin with an explanation of indirect liability and the “deliberate ignorance” standard of knowledge the FCPA imposes. With so much focus on anti-bribery it is easy to lose...
As we close out the year, it is now time to begin the retrospective reviews and predictions for the New Year. I will try to keep them to a minimum but I find it important to reflect and look forward to new challenges. Compliance is a fast moving profession. More attention is being paid to the compliance function, and more companies are embracing the importance...
Webinar: Anti-Corruption Enforcement and Compliance — The Year in Review January 5, 2016, 12 noon EST Sign Up Here The past year — 2015 — was another eventful year in global anti-corruption enforcement. While the US Department of Justice enforcement activity slowed, the SEC and other governments increased enforcement activity. DOJ’s enforcement program took some unusual twists with the hiring of a Compliance Counsel and...
You know a company’s culture is suffering when you hear the CEO or senior executives say the best way to develop a “Speak Up” culture is to just tell all the employees “we want to hear from you.” I am an advocate for simplicity but sometimes simplicity can slip into stupidity. A “Speak Up” culture requires a commitment to a number of important principles and...
Lauren Connell, Managing Associate at The Volkov Law Group, joins us again for a posting about self-reporting FCPA violations. Lauren’s profile is here, and she can be reached at [email protected]. One of the critical questions when evaluating a potential FCPA violation is to decide whether to disclose the matter to the Justice Department and the SEC. The SEC recently announced a requirement for companies to voluntarily disclose...
If your company is big enough and has the resources to consider establishing an internal ombudsman’s function, consider yourself lucky. When compliance professionals and lawyers use the term “ombudsman,” it is important to define how the term is being used. The most effective model for an ombudsman is the creation of an entire independent investigation and resolution function within a company. In this model, the...
The Justice Department’s hiring of Hui Chen as the new Compliance Counsel is an important development in DOJ’s prosecution of corporate defendants. It is not clear yet what impact Ms. Chen will have. At a recent event at NYU (video here), Andrew Weissmann, the head of the Fraud Section, and Ms. Chen spoke about the new compliance position. The video provides important information. Ms. Chen...
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,...
