Compliance

Compliance programs typically refer to formalized institutional procedures within corporations and organizations to detect, prevent and respond to indvidual and widespread instances of regulatory... more +
Compliance programs typically refer to formalized institutional procedures within corporations and organizations to detect, prevent and respond to indvidual and widespread instances of regulatory violations.  In response to many corporate scandals evidencing rampant unethical business practices, many nations, including the United States, began passing strict regulatory frameworks aimed at curbing these abuses. Notable pieces of legislation in this area include the U.S. Foreign Corrupt Practices Act (FCPA), Sarbanes-Oxley (SOX), and the U.K. Bribery Act, to name a few. The foregoing statutes and the severe penalties often associated with them form the basis of many modern institutional compliance programs. less -
News & Analysis as of

Lessons Learned and Compliance Trends from the VW and Takata Scandals (Part III of III)

When unraveling a major corporate scandal, especially multi-year schemes involving senior executives, the blame game or lessons learned approach can easily turn into a fruitless exercise. The VA and Takata scandals are...more

The (Hopefully) Short, Costly Life of President Obama’s Executive Orders

For companies frustrated with the increasingly complex and burdensome compliance obligations imposed on government contractors, the elimination of some or all of the burdensome rules, which are both expensive and distinct...more

New Regulation Setting Federal Agency Website Standard Published, Setting Compliance Deadline

Seyfarth Synopsis: Final Rule Setting WCAG 2.0 AA as the Federal Agency Website Standard Published in Federal Register, Triggering Compliance Deadline of January 18, 2018....more

Meeting Society’s Expectations for Corporate Social Responsibility

Younger employees along with the public and media continue to apply pressure on organizations to address Corporate Social Responsibility (CSR) issues including human rights and environmental sustainability. For many...more

Final FAR Rule: Employees’ Freedom to Report Fraud

There has been a debate for years about whether employers can, by agreement, prohibit their employees from “blowing the whistle” on them. The prudent view was this could be viewed by the courts as a violation of public...more

Day 19 of 30 Days to a Better Compliance Program-Compliance Expertise on the Board [Video]

Every Board of Directors need a true compliance expert sitting on their Board. Almost every Board has a former Chief Financial Officer (CFO), former head of Internal Audit or persons with a similar background and often times...more

HSR Act Violations Continue Trend of Heightened Enforcement, Increased Fines in 2016

The past year was a challenging one for investors purchasing voting securities in public corporations with respect to compliance with the Hart-Scott-Rodino Antitrust Improvements Act....more

EU Legal Developments That May Impact Your Business in 2017

Sheppard Mullin’s EU team has created a list of major legal shifts that await General Counsel and Compliance Officers in the areas of competition, EU regulatory and trade in 2017. These challenges may have an impact on your...more

When It Comes to Documentation, Smart Companies Behave Like Every Day Is Audit Day

Audits are part of nearly every ethics and compliance program. They come from the Internal Audit Department, outside auditors testing control systems and processes, and in some cases, government regulators evaluating the...more

VW's $4.3BN Plea to Obstruction for Botched Litigation Hold

One of three counts in Volkswagen’s recent $4.3 billion guilty-plea was for obstruction of justice arising from a litigation-hold botched by house counsel. As VW prepared to admit the defeat-device problems to US...more

Volkswagen: When Car Companies Veer Off Course (Part I of III)

Corporate misconduct occurs in a variety of forms. Starting with the basic truism – companies act through people, and when companies engage in misconduct it requires the coordination and collaboration of multiple actors. The...more

The Implications of Insureds’ Illegal Conduct

Allegations of corporate bribery and corruption are increasingly frequent. According to a recent report by PwC, the World Bank estimates that more than $1 trillion is paid in bribes each year and 55 percent of global CEOs...more

The Difference Between Being Right and Doing Right

Not long ago I wrote about the Securities and Exchange Commission’s recent enforcement actions against companies that include pretaliation clauses in their employment contracts. I posted the article online, and one compliance...more

Recidivism Under the FCPA: Zimmer Biomet

Last week Zimmer Biomet Holdings, Inc. paid a high price for its and its predecessors failure to comply with the terms and conditions of 2012 Deferred Prosecution Agreement (the “2012 DPA”). Biomet, having originally paid $23...more

Mondelez FCPA Enforcement Action — An Abuse of Prosecutorial Discretion?

The first FCPA enforcement action for 2017 landed with very little fanfare. The SEC reached a settlement with Mondelez International for $13 million. The facts surround the hiring of an agent in India and the failure of...more

What is Your Ethical Culture?

The indictments last week of executives from Tanaka and Volkswagen roiled many in the business world and ethics and compliance arena. Coming on the heels of the Wells Fargo scandal, one might wonder how corporations can stop...more

Day 15 of 30 Days to a Better Compliance Program-Post Training Evaluation [Video]

What if you want to take you post-training analysis to a higher level and begin to consider the effectiveness through your return on investment (ROI)? Joel Smith, the founder of Inhouse Owl, a training services provider,...more

The Real Explanation for the Record Year for FCPA Enforcement

All the FCPA prognosticators, predictors and paparazzi have missed the boat on understanding what happened this year – 2016, to make this a record year in FCPA enforcement. As a former public servant for over 20 years, I am...more

Top Legal Issues Facing the Automotive Industry in 2017

Foley’s Automotive Industry Team has prepared this report that examines what the litigation, enforcement, and regulatory landscape will look like in 2017. Inside, you will learn about: - Managing warranty, recall, and...more

Matt Ellis-The FCPA in Latin America

When I received my copy, my first thought was that, finally, it’s about time for this book to come out. Then I read it and realized I was glad he put so much time into it. I am referring to Matt Ellis’ new book The FCPA in...more

Digital Visitors Versus Digital Residents: 6 Steps for Improving Ethics & Compliance Training for the Millennial-type Learner

By 2020, millennials will make up 50 percent of the global workforce. At the same time, “Nexters,” or Generation Z – those born after 2000 – will be out of school and making up 20 percent of the workforce themselves. In sum,...more

Honey, I Think We Should Vacation at Home This Year

That may well be the line most used by Volkswagen (VW) executives after the arrest of their fellow executive, Oliver Schmidt, this past week at the Miami airport. According to an article in the New York Times (NYT), entitled...more

Predicting the Future: What Would Truly Global Anti-Corruption Enforcement Look Like?

Within the SEC and DOJ’s blockbuster ending to 2016 was the Odebrecht settlement. The amount involved, a stunning $4.5 billion (pending a possible reduction for inability to pay), grabbed headlines around the world. But...more

Day 10 of 30 Days to a Better Compliance Program, Mergers and Acquisitions [Video]

A company that does not perform adequate due diligence prior to a merger or acquisition may face both legal and business risks. Perhaps, most commonly, inadequate due diligence can allow a course of bribery to continue - with...more

A Company Must Do Compliance – The Mondelez FCPA Enforcement Action

In almost every Foreign Corrupt Practices Act (FCPA) enforcement action, there are nuggets to be gleaned for any Chief Compliance Officer (CCO) or compliance practitioner. All one has to do is look for them. Back in 2012,...more

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