Tagged: FCPA

Four Clear Messages from Bristol-Myers Squibb FCPA Enforcement Action

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...

New E-Book: Question Everything — Effective Due Diligence and Third-Party Risk Management

I am pleased to announce the release of my new e-book:  Question Everything — Effective Due Diligence and Third-Party Risk Management. With almost every FCPA enforcement action involving third party misconduct in one form or another, shouldn’t companies devote more resources than ever to due diligence and third-party risk management systems? There’s no magic formula to implementing an effective system. It just takes two things:...

SEC’s Hitachi Enforcement Action and Important Compliance Reminders

The SEC continues to plug away at aggressive FCPA enforcement. This year, at least so far, the SEC has had a very successful year. The Hitachi case is a very interesting enforcement action for several major reasons.  From a general perspective, the SEC’s decision to file the case in US District Court for the District of Columbia represents an important about face – instead of...

The True Impact of DOJ’s Individual Prosecution Memo

The Justice Department can surprise you – the release of the Yates Memo (here), as it is commonly referred to since it takes on the name of the Deputy Attorney General (e.g. McNulty Memo), is another strange example of DOJ responding to political winds. If anything, DOJ’s action appears a little bit late. The controversy surrounding DOJ’s failure to prosecute an appropriate number of individual...

Slowing Down the SEC Administrative Train

I am convinced that the law eventually reaches the “right” solution. There may be disastrous detours along the way, but in the end the law will adapt to reach the right result. Of course, our history is replete with instances of controversial, and ultimately embarrassing, court decisions (e.g. Plessy v. Ferguson). Nor do I mean to suggest that the SEC’s reliance on administrative hearings for...

Hiring Practices: A New or Old FCPA Compliance Challenge?

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...

Calculating the Incalculable: Reputational Damage (Part I of III)

Today I begin a three-part series on reputational damage. The first part tries to define the term “reputational damage;” the second part focuses on managing threats to a company’s reputation; and the final posting proposes creation of a senior risk manager in a corporate leadership team. If you ask CEOs and board members about the threats to a company resulting from a DOJ enforcement action,...

Reminders: Volkov Law TV, E-Mail Subscriptions, Books and Volkov Law for Ethics and Compliance

Here at Corruption, Crime and Compliance, we aim to please our readers, subscribers, clients, associates and friends. We are committed to promoting the importance of ethics and compliance strategies, to supporting corporate governance improvements, and to implementing effective ethics and compliance functions. At the same time, we offer clients representation in response to government inquiries, subpoenas, investigations, as well as civil litigation.  Our legal services...

Webinar: Anti-Corruption Compliance in the High-Tech Sector

Webinar: Anti-Corruption Compliance in the High-Tech Sector   Wednesday, September 9, 2015, 12 Noon EST    Sign Up Here   The Justice Department and the SEC have focused FCPA enforcement resources on high-tech companies. Several high-tech companies have settled FCPA enforcement actions, while others remain under investigation. In a recent enforcement action, an SAP former executive plead guilty to an FCPA conspiracy and is awaiting...

SEC Promotes Value of Cooperating Witnesses

Change does not occur overnight. The SEC, as much as any other government agency, has touted its hiring of former prosecutors and use of aggressive investigation tactics. I always took those statements with a grain of salt – after all, the SEC is enforcing civil laws and regulations. A prosecutor can only do so much in the civil enforcement arena. In a recent Wall Street...