Bob Dylan, Watch the River FlowI have to admit it – I still love to listen to Bob Dylan. With age, his lyrics resonate more and more. HERE is a nice version of Watch the River Flow in case you want to listen while reading...more
6/19/2019
/ Compliance ,
Compliance Management Systems ,
Corporate Culture ,
Corporate Governance ,
Corporate Misconduct ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
New Guidance ,
Office of Foreign Assets Control (OFAC) ,
Safe Harbors ,
White Collar Crimes
As an initial step, an audit of an internal investigation program requires a detailed understanding of the operation of a company’s internal investigation program. ...more
In the compliance idea marketplace, there has been an increased focus on the importance of maintaining an organization’s speak up culture and the importance of a reliable and efficient internal investigation program....more
With the growth of the compliance profession and the importance of compliance functions as part of corporate governance, there has been a significant increase in the quantity and quality of compliance studies and surveys. ...more
People are good at convincing themselves that everything is okay, despite troubling indications. Sometimes it is easier to ignore warning signs than to face the harsh reality....more
OFAC’s new Framework for Sanctions Compliance Programs incorporates a number of important principles from Justice Department and US Sentencing Guideline requirements for effective compliance programs. ...more
The final issue discussed in the new DOJ Corporate Compliance Guidance is the assessment of whether a company’s compliance program is working – at the time of the offense and at the time of the resolution of an enforcement...more
While I hate to start out a posting with such “mumbo jumbo” terms, I had to come up with short hand descriptions of some otherwise fairly complex and robust topics under the new DOJ Guidance....more
5/7/2019
/ Best Practices ,
Chief Compliance Officers ,
Corporate Misconduct ,
Corporate Officers ,
Department of Justice (DOJ) ,
Ethics ,
Human Resources Professionals ,
New Guidance ,
Performance Incentives ,
Policies and Procedures ,
Professional Disciplinary Actions ,
Senior Managers
The Justice Department is wedded to its FCPA Corporate Enforcement Policy (excuse me for the use of “wedded,” we recently celebrated our son’s wedding). Nonetheless, DOJ has to adjust its Policy in response to experience and...more
3/27/2019
/ Business Records ,
Compliance ,
Corporate Communications ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Enforcement Actions ,
FCPA Corporate Enforcement Policy (CEP) ,
Foreign Corrupt Practices Act (FCPA) ,
Software ,
White Collar Crimes
We live in an era where credibility and truthfulness are character values that are often challenged, questioned and indeed overrun. Trust and integrity are values of utmost value and importance. ...more
Compliance officers have enough challenges. Most compliance officers, if you ask them, will candidly admit they are constantly putting out fires. It is just part of the profession and comes with the territory....more
As Goldman Sachs continues to navigate its way through the 1MDB investigation and prosecution, there is no question that the media is beginning to focus on who at Goldman Sachs knew about the bribery activity (or should have...more
In a recent speech, Brian Benczkowski, the Assistant Attorney General for the Criminal Division outlined the Justice Department’s new policy governing imposition of a corporate compliance monitor. ...more
The 1Malaysia Development Berhad scandal (“1MDB scandal”) has been making headlines for the past few years. The turning point for US prosecutors was the cooperation of Malaysian law enforcement and the corruption allegations...more
11/6/2018
/ Accounting Controls ,
Bonds ,
Bribery ,
Corporate Misconduct ,
Corruption ,
Criminal Conspiracy ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Goldman Sachs ,
Guilty Pleas ,
Indictments ,
Internal Controls ,
Investment Funds ,
Kickbacks ,
Money Laundering ,
Popular ,
White Collar Crimes
Companies have definitely matured in the development and implementation of their ethics and compliance programs. Whether the pace has been rapid enough or is too slow, that is a debatable issue. A good litmus test for a...more
10/9/2018
/ Bribery ,
C-Suite Executives ,
Compliance ,
Corporate Misconduct ,
Corruption ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Internal Controls ,
Popular ,
Securities and Exchange Commission (SEC) ,
Settlement ,
White Collar Crimes
Stryker Corporation has suffered a second FCPA enforcement action, and will now bear the stigma of FCPA “recidivist.” In reaching a settlement with the SEC and agreeing to pay a $7.8 million civil penalty, Stryker will now...more
10/2/2018
/ Accounting Fraud ,
Books & Records ,
Compliance ,
Corporate Counsel ,
Corporate Misconduct ,
Corruption ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Hospitals ,
Internal Audit Functions ,
Internal Controls ,
Medical Devices ,
Pharmaceutical Industry ,
Recidivism ,
Securities and Exchange Commission (SEC) ,
Settlement ,
Stryker ,
White Collar Crimes
The Justice Department’s FCPA Corporate Enforcement Policy was announced in November 2017 with much fanfare – it was the culmination of a step-by-step process beginning with the FCPA Pilot Program....more
We live in a bizarre time — an information age where lines are blurred between truth and lies — a strange era in which our daily doses of information are dominated by scandals, corruption, and repeated claims of “fake news.” ...more
5/23/2018
/ C-Suite Executives ,
Compliance ,
Corporate Counsel ,
Corporate Misconduct ,
Corruption ,
Criminal Conspiracy ,
Criminal Prosecution ,
Ethics ,
Internal Controls ,
Tone At The Top ,
White Collar Crimes
Corporate commitment to speak up cultures is suffering. The Ethics and Compliance Initiative’s recent Global National Business Ethics Survey contained a critical finding – corporate instances of retaliation against employee...more
5/18/2018
/ Bribery ,
Compliance ,
Corporate Culture ,
Corporate Misconduct ,
Corruption ,
Ethics ,
Internal Reporting ,
Ombudsman ,
Retaliation ,
Risk Management ,
Whistleblowers ,
White Collar Crimes
We all know the saying – A fish rots from the head. Sometimes a clear and simple statement says it all. The Volkswagen diesel emissions cheating scandal is yet another example of C-Suite, even CEO, misconduct....more
5/16/2018
/ Automotive Industry ,
CEOs ,
Compliance ,
Corporate Misconduct ,
Criminal Conspiracy ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Environmental Violations ,
Ethics ,
National Emissions Standards ,
Volkswagen ,
White Collar Crimes ,
Wire Fraud
This week I am posting a five-part series on FCPA compliance issues. While there have been many advances in the anti-corruption ethics and compliance field, there is still more work to do to advance effective strategies for...more
The chief compliances officer is the guardian of a company’s most important intangible asset – its culture. Everyone at a company is responsible for a company’s culture; the board of directors, CEO, senior executives play an...more
We continue to read headlines of whistleblowers receiving large, sometimes, multi-million-dollar awards after successful prosecutions of companies for a variety of criminal and civil offenses. ...more
The Ethics and Compliance Institute recently released the results of its global business ethics survey. The last survey was conducted in 2013 and ECI’s survey provides important and valuable insights into corporate metrics...more
The compliance community is well aware of the risks in the C-Suite. As you move up the corporate ladder, the level of risk from executive misconduct increases. A rotten executive can quickly bring down a company, destroy...more
2/1/2018
/ Accounting Fraud ,
Automotive Industry ,
Bribery ,
C-Suite Executives ,
Chief Compliance Officers ,
Compliance ,
Corporate Culture ,
Corporate Misconduct ,
Corruption ,
Criminal Conspiracy ,
Ethics ,
Foreign Corrupt Practices Act (FCPA) ,
KPMG ,
Obstruction of Justice ,
Och-Ziff ,
PCAOB ,
Rolls-Royce ,
Tone At The Top ,
Volkswagen ,
White Collar Crimes