Tagged: Compliance

Compliance Missed Opportunities: CCOs and HR

A chief compliance officer can get overwhelmed with responsibilities and initiatives. CCOs have a never-ending to-do list – once an initiative is finished, the CCO has to jump to another “priority.” CCOs are responsible for operationalizing the company’s compliance program. The CCO’s success depends on the cooperation of related functions – procurement, legal, human resources, security, finance, internal audit, and information technology. While there has...

FCPA Pilot Program Motors On

No one was really surprised when Kenneth Blanco, Acting Assistant Attorney General for the Criminal Division, US Department of Justice, announced last week that DOJ was planning to continue the FCPA Pilot Program past April 5, 2017, the scheduled expiration date. Blanco stated in a speech given at the annual White Collar Crime Conference: Before I conclude, I would be remiss if I did not...

Hiding Behind the Privilege – A Cloak or a Dagger?

CCOs face many challenges in their jobs. One area that is difficult but usually can be solved with common sense is where to draw the line on attorney-client privilege issues. As a practicing attorney, I can attest to the importance of the attorney-client privilege. It is a principle that is critical to the functioning of a corporation or any other organization. Communications for the purpose...

Double Play, Double Declinations: DOJ Pushes FCPA Pilot Program Benefits

DOJ’s FCPA Pilot Program was panned when it was announced in April 2016. Critics contended that the incentive for voluntary disclosure of FCPA violations to DOJ was inadequate. Under the FCPA Pilot Program, a company can earn up to a 50 percent reduction from the bottom of the applicable range for calculation of a criminal fine. DOJ also noted the possibility of a declination with...

DOJ’s Pilot Program – The Five Factors Designed to Nurture the Compliance Function

Perhaps the most positive and important aspect of the FCPA Pilot Program was the announcement of forward-looking and innovative remediation requirements for corporate compliance programs. As an aside, DOJ’s FCPA Pilot Program was a disappointment and failed to deliver meaningful incentives for companies to self-disclose FCPA violations to the Justice Department. The difference between 25, 50 and 75 percent from the bottom of the sentencing...

Global Construction and Corruption

With increasing focus on infrastructure projects and greater public demand for improvements, governments are preparing to ramp up construction projects. Part of the budgeting process has to acknowledge the cost of corruption. It does not take a rocket scientist to figure out that construction and corruption go hand-in-hand. Corruption occurs in construction projects because of the incendiary mix of money, government bureaucracy, and lack of...

Webinar: How to Conduct FCPA Audits

How to Conduct FCPA Audits   May 4, 2016, 12 Noon EST Sign Up Here  As companies implement anti-corruption compliance programs, the need for auditing and monitoring of their compliance programs increases. Companies have to structure an audit program to address significant risks and to identify potential weaknesses and problems. Mitigating those deficiencies can be a real challenge. Join Michael Volkov, CEO of The Volkov...

Finding “Compliance” Religion

One of the more cynical “commitments” to compliance occurs when a company embraces compliance for the first time in response to a government investigation.  I call this  — finding “compliance” religion. When a company is under investigation or potentially under investigation, senior management embraces compliance and allocates resources to “protect” the company. We all know this is short-sighted thinking. A number of companies through the...

New and Important Compliance Standards in DOJ’s Recent FCPA Guidance (Part II of II)

The importance of DOJ’s hiring of Hui Chen as Compliance Counsel was recently confirmed by DOJ’s release of new compliance remediation standards for FCPA compliance programs. DOJ has, once again, raised the bar on FCPA compliance programs. Compliance practitioners have a real and significant voice on behalf of the compliance function inside the Justice Department. In adopting a new pilot program for FCPA enforcement and...