Jessica Sanderson, Partner at the Volkov Law Group, re-joins us for a posting on a recent OFAC enforcement action. Jessica can be reached at [email protected]. Some may dismiss OFAC’s recent announcement last week that it issued a Finding of Violation to MidFirst Bank for violations of the Weapons of Mass Destruction Proliferators sanctions regulations as insignificant because OFAC did not impose any civil monetary penalties,...
Ethics and compliance programs face a rapidly approaching crossroads. Technology and data have created significant pressure on CCOs to harness innovation. This is a major opportunity for improvement but it also creates real risks. Chief compliance officers have to carefully tailor the transition to automated platforms and building of data management capabilities. The key to this effort is focus and simplicity. When CCOs overthink, they...
2019 was a big year for ethics and compliance. In fact, it is easy to argue that since the adoption of the compliance provisions in the US Sentencing Guidelines in 1991, compliance had its biggest year. The federal government issued three important documents in 2019 – DOJ issued the Evaluation of Corporate Compliance Programs from the Criminal Division (here) and from the Antitrust Division (here),...
