We are finally reaching the end of the road on the beneficial ownership path.
In this last posting on the issue (for now), let’s start with a third-party population (third parties, vendors, suppliers) which have been...more
At the outset, if you have a headache after reading my first two posts on the beneficial ownership issue, I apologize. The issues twist and turn depending on whether the situation involves OFAC sanctions or corruption risks,...more
When discussing the importance of beneficial ownership with compliance professionals, there is often a disconnect between the theory and reality. Everyone understands the legal and compliance risks and how they apply to...more
We repeatedly hear about the importance of beneficial ownership, and the requirement that companies confirm beneficial ownership of its third-parties, vendors and suppliers. At the same time, there is increasing pressure...more
The Justice Department’s Antitrust Division recently announced a $100 million settlement with Florida Cancer Specialists & Research Institute (“FCS”) for an illegal conspiracy to allocate cancer patients in Southwest...more
5/14/2020
/ Antitrust Provisions ,
Antitrust Violations ,
Cancer ,
Capacity Allocation ,
Compliance ,
Criminal Conspiracy ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
False Claims Act (FCA) ,
Health Care Providers ,
Sherman Act ,
White Collar Crimes
The global pandemic has created unique risks for handling employees’ exposure to, or positive testing for, COVID-19. To ensure a safe workplace, companies have to address delicate issues surrounding employee safety....more
In the Chipotle Mexican Grill case, DOJ entered into a three-year deferred prosecution agreement (“DPA”) in exchange for the payment of a $25 million penalty stemming from a string of foodborne-illness cases between 2015 and...more
In an important set of criminal prosecutions for food safety violations, the Justice Department recently announced resolutions with Blue Bell Creameries and Chipotle Mexican Grill....more
5/7/2020
/ Blue Bell Creameries ,
Chipotle Grill ,
Compliance ,
Coronavirus/COVID-19 ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Federal Food Drug and Cosmetic Act (FFDCA) ,
Food Contamination ,
Food Manufacturers ,
Food Recalls ,
Food Safety
You can always count on cyber-criminals and fraudsters to come out of the woodwork when a national crisis occurs. The COVID-19 pandemic has resulted in a multitude of criminal schemes....more
5/6/2020
/ Cloud Computing ,
Compliance ,
Coronavirus/COVID-19 ,
Cyber Crimes ,
Department of Justice (DOJ) ,
Email Policies ,
FBI ,
Fraud ,
Phishing Scams ,
Remote Working ,
Risk Management ,
Websites
If there ever was a time that companies need to promote and encourage employee reporting, the time is now. By employee reporting, I do not mean to single out hotline reporting – certainly that is one of many avenues to...more
Human Resources and Compliance have always had a natural and tight bond, assuming that there is no territorial or in-fighting political disputes. In this new COVID-19 pandemic era, the HR and Compliance partnership is even...more
Let’s face it – we have all suffered (and are continuing to suffer) through an extraordinary time. I know this is just another profound grasp of the obvious but the world is slowly recovering but with lots of changes and the...more
Despite the COVID-19 pandemic crisis, the SEC is continuing its FCPA enforcement activities. The SEC lawyers and staff have brought two cases recently – an enforcement action against a former Goldman Sachs executive and the...more
Last week, the Securities and Exchange Commission (“SEC”) filed charges against Asante Berko, a former Goldman Sachs executive with bribery of foreign government officials in Ghana. Goldman Sachs discovered and stopped the...more
It turns out law school was very helpful to practicing law – every first year law student is required to take a contract law class. Now, lawyers are able to apply what they learned in the most unlikely of circumstances – the...more
4/18/2020
/ Business Continuity Plans ,
Business Interruption ,
Compliance ,
Contract Terms ,
Coronavirus/COVID-19 ,
Emergency Management Plans ,
Force Majeure Clause ,
Performance Standards ,
Remote Working ,
Risk Mitigation ,
Telecommuting
Under the U.S. Federal Sentencing Guidelines, in order to receive credit for having an effective compliance program, and thereby reduce the fines imposed on the organization, a Board of Directors must be “knowledgeable about...more
I look forward to all the books to be written about the crisis we are living through, especially with all the many high-profile lessons in #EthicalLeadership, #Trust and #CrisisManagement that are emerging daily...more
As the Covid-19 virus is proliferating, so is the practice of conducting business through videoconferencing from home....more
The Justice Department and the FBI have acted to focus on fraudsters who are preying on the public panic in response to the pandemic.
The Justice Department has alerted US Attorneys’ Offices, and federal, state and local...more
4/10/2020
/ Compliance ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
Diagnostic Tests ,
FBI ,
Fraud ,
Medical Supplies ,
Phishing Scams ,
Prescription Drugs ,
Price-Fixing ,
Robocalling
Judge Stanley Sporkin was a mentor, a professional colleague and a friend. I admired Judge Sporkin, respected his commitment to integrity and valued our professional collaboration and personal friendship....more
The Justice Department and the FBI have quickly acted to focus on fraudsters and hoarders seeking to profit from the public panic in response to the pandemic. DOJ issued a memo to U.S. Attorneys prioritizing investigations...more
4/3/2020
/ Asset Seizure ,
Compliance ,
Coronavirus/COVID-19 ,
Corruption ,
Defense Production Act ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FBI ,
Goods or Services ,
Life Sciences ,
Medical Supplies ,
Personal Protective Equipment ,
Secretary of HHS ,
Supply Chain ,
Trump Administration
Congress recently enacted the Families First Coronavirus Response Act (“FFCRA”), which included a number of important changes. Given the disastrous impact of the pandemic on the workplace, businesses that are still operating...more
Corporate boards and management face serious challenges in navigating the COVID-19 pandemic. In this difficult environment, companies have to be mindful to apply best practices and exercise care to fulfill their duties of...more
3/31/2020
/ CARES Act ,
Compliance ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Crisis Management ,
Duty of Care ,
Duty of Loyalty ,
Families First Coronavirus Response Act (FFCRA) ,
Financial Stimulus ,
Government Shutdown ,
Internal Controls ,
Sick Pay
Congress enacted the largest economic stimulus bill in history, totaling approximately $2 trillion to protect US families and businesses from massive economic damage resulting from the COVID-19 pandemic. ...more
Chief compliance officers and human relations leaders are facing enormous challenges in this COVID-19 pandemic. The shut-down of offices and orders to employees to work from home or “tele-work” creates a unique set of risks....more