I am reluctant to start off the New Year with a negative comment or posting. But I have a significant concern about the path and current state of ethics and compliance....more
1/24/2020
/ Automation Systems ,
Chief Compliance Officers ,
Compliance ,
Corporate Governance ,
Ethics ,
Internal Controls ,
Leadership ,
Risk Management ,
Senior Managers ,
Technology ,
Vendors
Moving on, 2019 was a big year in OFAC compliance. The Sanctions Compliance Guidance was a major change in sanctions compliance. OFAC has set high expectations for compliance. Whether companies have received and responded to...more
The path of the compliance profession has been remarkable. Recently, I have seen a number of tweets and postings from compliance thought leaders touting the accomplishments of compliance and the transformation of the...more
1/17/2020
/ Analytics ,
Anti-Corruption ,
C-Suite Executives ,
Chief Compliance Officers ,
Compliance ,
Compliance Management Systems ,
Compliance Monitoring ,
Corporate Culture ,
Corporate Governance ,
Leadership ,
Risk Management ,
Senior Managers ,
Technology ,
White Collar Crimes
As a passionate supporter of the compliance function, I continue to advocate for compliance officers and the importance of compliance to overall governance. Good compliance means good business – we all know that....more
As everyone knows, I am an eternal optimist. Being a cynic always leads to negative energy and results. As a former federal prosecutor, I am deeply committed to the idea of doing the right thing....more
1/15/2020
/ Anti-Bribery ,
Anti-Corruption ,
Chief Compliance Officers ,
Compliance ,
Compliance Management Systems ,
Compliance Monitoring ,
Corporate Culture ,
Corporate Governance ,
Corporate Management ,
Corporate Misconduct ,
Innovative Technology ,
Leadership ,
Risk Management ,
White Collar Crimes
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....more
1/14/2020
/ Analytics ,
Automation Systems ,
Chief Compliance Officers ,
Compliance ,
Cooperative Compliance Regime ,
Corporate Culture ,
Corporate Governance ,
Data Management ,
Department of Justice (DOJ) ,
Ethics ,
Federal Sentencing Guidelines ,
Innovative Technology ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Violations ,
Speak-up Cultures ,
Strategic Planning
Corporate leaders often talk to the talk when it comes to a Speak Up culture. In theory, many business leaders can articulate their commitment to a Speak Up culture by emphasizing the importance of employees raising...more
1/10/2020
/ Anti-Corruption ,
BP ,
Compliance ,
Corporate Culture ,
Corporate Misconduct ,
Corruption ,
Ethics ,
Internal Reporting ,
Oil & Gas ,
Risk Mitigation ,
Securities and Exchange Commission (SEC) ,
Speak-up Cultures ,
Supervisory Guidance ,
Tone At The Top ,
Whistleblowers ,
White Collar Crimes
It is time to break out the crystal ball for FCPA 2020 Predictions. In preparing for this, I always rely on my past admiration of Carnac the Magnificent....more
1/9/2020
/ 1MDB ,
5G Network ,
Anti-Corruption ,
Brazil ,
China ,
Compliance ,
Corruption ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Ericsson ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
General Electric ,
Goldman Sachs ,
Guilty Pleas ,
Healthcare ,
Malaysia ,
Philips Electronics ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Settlement Negotiations ,
Siemens ,
Telecommunications ,
Uzbekistan ,
White Collar Crimes
In a record year, there are bound to be numerous interesting enforcement actions and principles. I picked out a few to highlight....more
1/8/2020
/ Anti-Corruption ,
Bribery ,
Cell Phones ,
Compliance ,
Compliance Management Systems ,
Corruption ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Ericsson ,
Ethics ,
FCPA Corporate Enforcement Policy (CEP) ,
Foreign Corrupt Practices Act (FCPA) ,
Fresenius ,
Indictments ,
Pharmaceutical Industry ,
Russia ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Telecommunications ,
Wal-Mart ,
White Collar Crimes ,
Wireless Industry
Happy New Year!!
In the FCPA arena, 2019 was a record year – in enforcement and compliance.
Many continuing trends are becoming more than trends – meaning they are turning into established practices....more
1/7/2020
/ Anti-Corruption ,
Bribery ,
Compliance ,
Compliance Management Systems ,
Corruption ,
Criminal Investigations ,
Criminal Prosecution ,
Declination ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Ericsson ,
Foreign Corrupt Practices Act (FCPA) ,
Fresenius ,
Guilty Pleas ,
Indictments ,
Leniency Programs ,
Microsoft ,
Money Laundering ,
Pharmaceutical Industry ,
Popular ,
Retailers ,
Samsung ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Settlement Negotiations ,
Telecommunications ,
Transparency ,
Wal-Mart ,
White Collar Crimes ,
Wiretapping
Global companies are paying greater attention to criminal antitrust risks – and with good reason. We often dwell on the impact to a company of a major FCPA investigation. A global criminal antitrust investigation often in...more
12/17/2019
/ Antitrust Investigations ,
Antitrust Provisions ,
Antitrust Violations ,
Cartels ,
Commercial Bankruptcy ,
Compliance ,
Confidential Information ,
Corruption ,
Criminal Antitrust Litigation ,
Criminal Conspiracy ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Fishing Industry ,
Food Supply ,
Guilty Pleas ,
Price-Fixing ,
Revenue Growth ,
Settlement Agreements ,
Supply Chain ,
White Collar Crimes
Global companies face extraordinary risks through their reliance on third-party agents, distributors, consultants and vendors/suppliers. Federal prosecutors and regulators have had a record year in FCPA and sanctions...more
12/15/2019
/ Automated Systems ,
Compliance ,
Corporate Entities ,
Enforcement Actions ,
Foreign Corporations ,
Foreign Corrupt Practices Act (FCPA) ,
Legal Technology ,
Risk Assessment ,
Risk Management ,
Risk Mitigation ,
Sanctions ,
Third-Party ,
Third-Party Liability ,
Vendors
Boston Heart Diagnostics, a Massachusetts company, agree to pay $26.7 million to settle a False Claims Act case involving allegations of paying illegal kickbacks to physicians....more
12/13/2019
/ Anti-Kickback Statute ,
Compliance ,
Corruption ,
Enforcement Actions ,
Failure to Comply ,
False Claims Act (FCA) ,
Fraud and Abuse ,
Health Care Providers ,
Healthcare Fraud ,
Incentives ,
Medicaid ,
Medicare ,
Patient Referrals ,
Physicians ,
Settlement ,
Stark Law ,
TRICARE
Corporate cultures do not operate in a silo or free from external influences.
Yet again, another profound grasp of the obvious. Employees, managers and senior leadership all bring their own experiences, perspectives,...more
12/12/2019
/ Anti-Corruption ,
Compliance ,
Conflicts of Interest ,
Corporate Culture ,
Corporate Governance ,
Corruption ,
Ethics ,
Foreign Corrupt Practices Act (FCPA) ,
Political Expression ,
Risk Management ,
Tone At The Top
Ericsson’s FCPA settlement is in the books (not the books and records). But it casts a significant shadow across the FCPA landscape. A pervasive and systemic culture of bribery is defined to reflect senior executive...more
12/11/2019
/ Anti-Bribery ,
Books & Records ,
Bribery ,
CEOs ,
China ,
Compliance ,
Corruption ,
Criminal Investigations ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Djibouti ,
Enforcement Actions ,
Ericsson ,
Foreign Corrupt Practices Act (FCPA) ,
Government Officials ,
Indonesia ,
Kuwait ,
Meals-Gifts-and Entertainment Rules ,
Securities and Exchange Commission (SEC) ,
Settlement ,
State Contractors ,
Telecommunications ,
Third-Party Relationships ,
Third-Party Risk ,
Vietnam ,
White Collar Crimes
The Sweden-based telecommunications company, Ericsson, agreed to a pay a total of $1 billion (yes, billion with a “B”) for FCPA violations.
Ericsson entered into settlement agreements with DOJ and the SEC. Ericsson agreed...more
12/10/2019
/ Bribery ,
Compliance ,
Corporate Counsel ,
Corruption ,
Criminal Investigations ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Egypt ,
Enforcement Actions ,
Ericsson ,
Foreign Corrupt Practices Act (FCPA) ,
Government Officials ,
Guilty Pleas ,
Securities and Exchange Commission (SEC) ,
Subsidiaries ,
Telecommunications ,
White Collar Crimes
Apollo Aviation Group, now Carlyle Aviation Partners, agreed to pay OFAC $210,600 for 12 violations of the Sudanese Sanctions Program. Carlyle acquired Apollo in December 2018, and Carlyle was not involved in the...more
12/5/2019
/ Aircraft ,
Aircraft Equipment ,
Aircraft Sales ,
Airlines ,
Anti-Corruption ,
Aviation Industry ,
Compliance ,
Contract Terms ,
Economic Sanctions ,
Enforcement Actions ,
Exports ,
Failure to Comply ,
Foreign Policy ,
Office of Foreign Assets Control (OFAC) ,
Release Agreements ,
Sanction Violations ,
SDN List ,
Sudan ,
Ukraine ,
United Arab Emirates (UAE) ,
White Collar Crimes
The Department of Justice recently announced updates to its Foreign Corrupt Practices Act Corporate Enforcement Policy. While the changes were relatively minor, the modifications underscored important principles surrounding...more
12/4/2019
/ Anti-Corruption ,
Bribery ,
Compliance ,
Corporate Counsel ,
Corporate Misconduct ,
Corruption ,
Criminal Investigations ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement Actions ,
Enforcement Guidance ,
Evidence ,
FCPA Corporate Enforcement Policy (CEP) ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
Policy Statement ,
Regulatory Reform ,
Regulatory Requirements ,
Regulatory Violations ,
Self-Disclosure Requirements ,
Transparency ,
Voluntary Disclosure ,
White Collar Crimes
OFAC's aggressive enforcement program continues. Recently, OFAC announced settlements with Apollo Aviation and Apple. Both of these cases underscore the importance of enhancing OFAC compliance programs.
In this Episode,...more
Samsung’s recent FCPA settlement with the Justice Department capped yet another example of a company involved in bribing Petrobas in Brazil for valuable contracts. The scope of the bribery scheme was focused on a contingent...more
11/26/2019
/ Bribery ,
Compliance ,
Corruption ,
Criminal Conspiracy ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Oil & Gas ,
Petrobras ,
Regulatory Violations ,
Samsung ,
White Collar Crimes
Samsung Heavy Industries agreed with the Justice Department to pay $75 million to settle FCPA charges. Under a three-year deferred prosecution agreement (DPA), Samsung agreed to filing of a criminal information in the Eastern...more
11/25/2019
/ Brazil ,
Bribery ,
Compliance ,
Corporate Cooperation Credits ,
Corruption ,
Criminal Conspiracy ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Federal Sentencing Guidelines ,
Foreign Corrupt Practices Act (FCPA) ,
Oil & Gas ,
Penalties ,
Petrobras ,
Regulatory Violations ,
Samsung ,
White Collar Crimes
We all take notice when government employees from enforcement agencies engage in wrongdoing. It is important, however, for credibility that government agencies investigate themselves and prosecute employees for wrongdoing. ...more
11/20/2019
/ Compliance ,
Confidential Information ,
Corruption ,
Employee Misconduct ,
Enforcement Actions ,
Examiners ,
Federal Employees ,
Indictments ,
Obstruction of Justice ,
Securities and Exchange Commission (SEC) ,
Theft ,
White Collar Crimes
Last week, DOJ announced the indictment of two former Herbalife executives in China for participating in a bribery scheme over a ten-year period.
Herbalife, a multi-level marketing company, was not charged and its...more
11/18/2019
/ Bribery ,
Business Licenses ,
China ,
Compliance ,
Corruption ,
Criminal Conspiracy ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Destruction of Evidence ,
Dietary Supplements ,
Enforcement Actions ,
Evidence ,
Failure to Comply ,
False Statements ,
Family Members ,
Foreign Corrupt Practices Act (FCPA) ,
Government Officials ,
Herbalife ,
Indictments ,
Internships ,
Investment Fraud ,
Meals-Gifts-and Entertainment Rules ,
MLM Industry ,
MOFCOM ,
Perjury ,
Regulatory Violations ,
Reimbursements ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes
Lawrence Hoskins, a UK citizen and former Alstom executive, was convicted last Friday on 11 of 12 counts for his role in a bribery scheme involving Indonesian officials....more
11/15/2019
/ Alstom ,
Bribery ,
Compliance ,
Corruption ,
Criminal Conspiracy ,
Criminal Convictions ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Guilty Pleas ,
Indonesia ,
Money Laundering ,
White Collar Crimes
Last month, the California Attorney General released draft regulations for the California Consumer Privacy Act (CCPA). (Here). The regulations focus on three primary areas: (1) consumer notices; (2) consumer requests for...more
11/13/2019
/ California Consumer Privacy Act (CCPA) ,
Compliance ,
Consumer Privacy Rights ,
Cybersecurity ,
Data Collection ,
Data Management ,
Data Privacy ,
Data Protection ,
Disclosure Requirements ,
Personal Data ,
Personally Identifiable Information ,
Privacy Laws ,
Regulatory Requirements ,
Request For Information ,
Verification Requirements