Now that the European Union’s Artificial Intelligence (AI) Act has entered into force, the real work begins putting its obligations into practice. This article explores five compliance steps to take now to operationalize the...more
As the interplay between export controls, trade sanctions, and anticorruption enforcement continues to intensify, multinational companies must remain vigilant in ensuring that their compliance programs address the many...more
9/25/2024
/ Anti-Corruption ,
Boycotts ,
Bureau of Industry and Security (BIS) ,
Compliance ,
Department of Justice (DOJ) ,
Economic Sanctions ,
Enforcement ,
Export Administration Regulations (EAR) ,
Export Controls ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Multinationals ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Penalties ,
Popular ,
Russia ,
Sanction Violations ,
Self-Disclosure Requirements ,
Supply Chain ,
Ukraine ,
Voluntary Disclosure
Sanctions imposed by the United States, the United Kingdom, and the European Union against Russia, China, and other parts of the world are fast-evolving. Such geopolitical shifts are creating new risks and placing further...more
9/23/2024
/ Belarus ,
Blocking Sanctions ,
Bureau of Industry and Security (BIS) ,
China ,
Compliance ,
Economic Sanctions ,
EU ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Financial Institutions ,
Financial Services Industry ,
Geopolitical Risks ,
Legal Advice ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
Technology Sector ,
UK
Multi-jurisdictional civil fraud matters often present multiple challenges that make the tracing and recovery of assets a complex, costly, and time-consuming investigative process. Making a fraud victim whole again requires...more
8/21/2024
/ Asset Recovery ,
Asset Tracing ,
Cross-Border ,
Data Collection ,
Data Protection ,
Dispute Resolution ,
Divorce ,
Enforcement ,
Financial Transactions ,
Forensic Accounting ,
Fraud ,
Injunctions ,
Investigations ,
Multi-Jurisdictional Litigation ,
Offshore Banks ,
Ponzi Scheme ,
Popular ,
Securities Fraud ,
Shell Corporations ,
Theft ,
Trusts ,
Venue ,
Witness
“Net zero” is a topic as hot as the climate these days. With so much regulatory attention being placed on it, companies that do not communicate their net zero efforts appropriately or, worse, intentionally make false and...more
7/18/2024
/ Climate Change ,
Compliance ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Greenhouse Gas Emissions ,
Greenwashing ,
Net Zero ,
Paris Agreement ,
Popular ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Reporting Requirements ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Sustainability ,
UK
Defense contractors and subcontractors that handle Controlled Unclassified Information (CUI) and do not have robust information-security system controls in place better get their house in order now if they want to do business...more
7/18/2024
/ Audits ,
Compliance ,
Contractors ,
Controlled Unclassified Information (CUI) ,
Cybersecurity Maturity Model Certification (CMMC) ,
DCMA ,
Department of Defense (DOD) ,
Federal Acquisition Regulations (FAR) ,
FOCI ,
National Security ,
NDAA ,
NIST ,
Proposed Rules ,
Risk Mitigation ,
Software ,
Subcontractors
The European Union (EU) is leading the global charge with AI regulations. U.S. companies are not beyond their regulatory reach, however, and should be preparing their AI risk mitigation efforts accordingly....more
6/24/2024
/ Artificial Intelligence ,
Automated Decision Systems (ADS) ,
Compliance ,
Corrective Actions ,
Cybersecurity ,
EU ,
European Commission ,
European Parliament ,
Financial Services Industry ,
Healthcare ,
High Risk Sectors ,
Infrastructure ,
Life Sciences ,
New Legislation ,
Noncompliance ,
Penalties ,
Popular ,
Regulatory Agenda ,
Risk Mitigation ,
Transparency
For years, Department of Justice officials have stressed how important chief compliance officers are as the first line of defense in fighting corporate crimes. While that’s true, compliance programs now have a competitor in...more
6/7/2024
/ Bribery ,
CFTC ,
Compliance ,
Corporate Crimes ,
Department of Justice (DOJ) ,
Enforcement ,
Federal Pilot Programs ,
Financial Crimes ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Investigations ,
Jurisdiction ,
Kickbacks ,
Money Laundering ,
Non-Prosecution Agreements ,
Securities and Exchange Commission (SEC) ,
Self-Disclosure Requirements ,
Voluntary Disclosure ,
Whistleblower Awards ,
Whistleblowers ,
White Collar Crimes
Recent legislative developments in the United Kingdom, public remarks from the new director of the UK Serious Fraud Office (SFO), and recent parliamentary hearings on the Post Office Horizon scandal put a spotlight on...more
3/15/2024
/ CFTC ,
Compliance ,
Corporate Misconduct ,
Financial Conduct Authority (FCA) ,
Fines ,
Foreign Corrupt Practices Act (FCPA) ,
Incentives ,
Libor ,
Penalties ,
Policies and Procedures ,
Proposed Legislation ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Serious Fraud Office (SFO) ,
UK ,
UK Parliament ,
Whistleblower Awards ,
Whistleblower Protection Policies ,
Whistleblowers ,
White Collar Crimes
The only thing truly certain about the proposed U.S. outbound investment regulatory regime is that a lot of uncertainty remains. But industry responses garnered during the comment period may, at least partly, foretell the...more
3/12/2024
/ Acquisitions ,
Advanced Notice of Proposed Rulemaking (ANPRM) ,
Artificial Intelligence ,
CFIUS ,
China ,
Compliance ,
Critical Infrastructure Sectors ,
Data Privacy ,
Data Security ,
Due Diligence ,
Executive Orders ,
Foreign Investment ,
Mergers ,
National Security ,
Supply Chain ,
Technology Sector ,
U.S. Treasury
The various and elusive tactics used by Russia to evade global sanctions and export controls have grown increasingly sophisticated over the last several months, putting the onus on multinational entities to become equally...more
3/4/2024
/ Belarus ,
Beneficial Owner ,
Bureau of Industry and Security (BIS) ,
Compliance ,
Distributors ,
Due Diligence ,
Economic Sanctions ,
European Commission ,
Evasion ,
Export Controls ,
Foreign Trade Regulations ,
G7 ,
Globally Harmonized System ,
Infrastructure ,
Military Conflict ,
Office of Foreign Assets Control (OFAC) ,
Offshore Companies ,
Risk Management ,
Risk Mitigation ,
Russia ,
SDN List ,
Shell Corporations ,
Supply Chain ,
Tariffs ,
Ukraine ,
US State Departments ,
White Collar Crimes
In December 2023, President Joe Biden signed the Foreign Extortion Prevention Act (FEPA) into law under the broader Fiscal Year 2024 National Defense Authorization Act (NDAA). While FEPA’s sponsors hailed it as “the most...more
3/1/2024
/ Anti-Bribery ,
Anti-Corruption ,
Bribery ,
Chief Compliance Officers ,
Compliance ,
Cooperation ,
Department of Justice (DOJ) ,
FEPA ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Investigations ,
Jurisdiction ,
NDAA
In early October 2023, Deputy Attorney General (DAG) Lisa Monaco announced a “new” (but not new) Department of Justice (DoJ) policy intended to incentivize acquiring companies to voluntarily self-disclose criminal misconduct...more
1/30/2024
/ Acquisitions ,
Department of Justice (DOJ) ,
Due Diligence ,
Foreign Corrupt Practices Act (FCPA) ,
Life Sciences ,
Mergers ,
Risk Assessment ,
Safe Harbors ,
Self-Disclosure Requirements ,
Voluntary Disclosure ,
White Collar Crimes
Certain financial technology (FinTech) firms will soon be subject to the Consumer Financial Protection Bureau’s (CFPB) supervisory authority under the Consumer Financial Protection Act, and should be prepared accordingly....more
1/18/2024
/ Banking Sector ,
Comment Period ,
Compliance ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Mobile Apps ,
Nonbank Firms ,
Payment Systems ,
Proposed Rules ,
Regulatory Authority
Over the last several months, companies have become entangled in an increasingly complex web of new and expanded sanctions and export control restrictions related to Russia in response to its war on Ukraine. The current...more
11/14/2023
/ Bureau of Industry and Security (BIS) ,
China ,
Compliance ,
Construction Industry ,
Department of Justice (DOJ) ,
Divestment ,
Economic Sanctions ,
Enforcement ,
Export Administration Regulations (EAR) ,
Export Controls ,
Financial Institutions ,
FinCEN ,
Foreign Direct Product Rule ,
Information Technology ,
Manufacturers ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Russia ,
Sanction Violations ,
SDN List ,
Self-Disclosure Requirements ,
Trade Restrictions ,
Ukraine ,
White Collar Crimes
While the U.S. Department of Justice’s Criminal Division published its fourth version of its “Evaluation of Corporate Compliance Programs (ECCP)” guidance more than six months ago now, the insights that in-house counsel and...more
10/4/2023
/ Business Operations ,
Chief Compliance Officers ,
Clawbacks ,
Compliance ,
Compliance Monitoring ,
Corporate Communications ,
Corporate Governance ,
Department of Justice (DOJ) ,
Electronic Communications ,
Executive Compensation ,
Federal Pilot Programs ,
In-House Perspective ,
New Guidance
Artificial Intelligence (AI) can be a powerful tool to help data leaders make more informed decisions that improve business outcomes and drive growth, but if not designed correctly it can quickly become a bane for legal and...more
7/19/2023
/ Artificial Intelligence ,
Automation Systems ,
Business Operations ,
Chief Compliance Officers ,
Compliance ,
Ethics ,
In-House Perspective ,
Information Technology ,
Innovative Technology ,
Legal Ethics ,
Machine Learning ,
Regulatory Oversight ,
Regulatory Requirements ,
Technology
The Department of Justice’s newly launched compensation and clawback pilot program is certain to bring with it numerous implementation hurdles and jurisdictional challenges, but it also incentivizes companies to have in place...more
6/13/2023
/ Bonuses ,
Clawbacks ,
Compensation ,
Compliance ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Employee Misconduct ,
Ethics ,
Foreign Corporations ,
Good Faith ,
Pilot Programs ,
Publicly-Traded Companies ,
Sarbanes-Oxley ,
Securities and Exchange Commission (SEC) ,
Wage and Hour
Juggling conversations with multiple enforcement agencies simultaneously in the course of a cross-border anticorruption investigation can be a difficult and daunting task for legal and compliance teams. Getting it right can...more
4/18/2023
/ Anti-Corruption ,
Compliance ,
Cross-Border ,
Department of Labor (DOL) ,
Enforcement Authority ,
EU ,
Financial Conduct Authority (FCA) ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
General Data Protection Regulation (GDPR) ,
Investigations ,
UK
As U.S. regulators and enforcement authorities alike become increasingly focused on corporate oversight practices of their employees' use of third-party messaging applications, including ephemeral messaging, companies should...more
4/11/2023
/ Artificial Intelligence ,
Compliance ,
Compliance Commitees ,
Corporate Governance ,
Data Preservation ,
Data Security ,
Data Storage ,
Department of Justice (DOJ) ,
Discovery ,
Document Retention Policies ,
e-Discovery Professionals ,
Electronic Communications ,
Enforcement Actions ,
Information Technology ,
Instant Messaging Apps ,
Policies and Procedures ,
Recordkeeping Requirements ,
Regulatory Oversight ,
Third-Party
For life sciences companies, Brazil’s market offers both an abundance of business opportunities and a myriad of on-the-ground regulatory compliance challenges for new entrants. Getting the market-entry strategy right will...more
3/16/2023
/ Anti-Corruption ,
Brazil ,
Business Opportunities ,
Compliance ,
Coronavirus/COVID-19 ,
Foreign Corporations ,
Healthcare ,
International Trade ,
Licensing Rules ,
Life Sciences ,
New Regulations ,
Permits ,
Pharmaceutical Industry ,
Telemedicine
For more than two years now, heads of the U.S. Department of Justice have maintained a steady drumbeat that they expect companies today to have in place a sound data analytics compliance program to proactively mitigate risks....more
3/2/2023
/ Analytics ,
Anti-Corruption ,
Artificial Intelligence ,
CFTC ,
Compliance ,
Corporate Crimes ,
Corporate Misconduct ,
Data Collection ,
Department of Justice (DOJ) ,
Enforcement ,
Ethics ,
Foreign Corrupt Practices Act (FCPA) ,
Machine Learning ,
Risk Mitigation ,
Securities and Exchange Commission (SEC)
In recent years, U.S. enforcement agencies have signaled that a data-analytics driven compliance program is more than a nice to have, it’s a must-have if companies are going to get more adept at demonstrating the...more
Officials with the U.S. Department of Justice have portended a sea change in the oversight responsibilities of chief compliance officers (CCOs) as it concerns corporate resolutions going forward.
In public remarks made March...more
8/9/2022
/ Anti-Corruption ,
CEOs ,
Certification Requirements ,
Chief Compliance Officers ,
Compliance ,
Criminal Liability ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Guilty Pleas ,
Internal Controls ,
Non-Prosecution Agreements ,
Personal Liability
In line with the Biden administration’s declaration last year that anticorruption is a “core United States national security interest,” sanctions evasion enforcement rapidly has become a core priority for the Department of...more
7/12/2022
/ Anti-Corruption ,
Best Practices ,
Compliance ,
Corporate Crimes ,
Cross-Border Transactions ,
Cyber Crimes ,
Department of Justice (DOJ) ,
Due Diligence ,
Economic Sanctions ,
Enforcement Actions ,
Financial Institutions ,
FinCEN ,
Foreign Corrupt Practices Act (FCPA) ,
Money Laundering ,
Multinationals ,
National Security ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
Sanction Violations ,
Terrorist Financing ,
U.S. Treasury