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

The High Cost of an FCPA Violation

Violations of the Foreign Corrupt Practices Act (“FCPA”) can lead to hefty penalties. Indeed, individuals who violate the FCPA, and their employers, could be on the hook for a variety of penalties described below. Companies...more

Proposed AML Regulations for Registered Investment Advisers Released by FinCEN

On August 25, 2015, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released proposed rules that would require investment advisers that are registered or required to be registered (RIAs)...more

Closing Gaps? FinCEN Proposes Anti-Money Laundering Rule for Investment Advisers

After more than a decade of delay, the Financial Crimes Enforcement Network (FinCEN) of the Department of Treasury issued a notice of proposed rulemaking that would require registered investment advisers to establish...more

ESMA updates guidance on pre-trade transparency waivers

ESMA has updated its opinion on trading functionalities that can make use of the waivers from pre-trade transparency requirements introduced by the Markets in Financial Instruments Directive (MiFID). The new example, which...more

HRSA Issues Long-Awaited 340B Program Omnibus Guidance Proposal

After much anticipation, the Health Resources and Services Administration (HRSA) late last week released its 340B Drug Pricing Program Omnibus Guidance Proposal (the Proposal). HRSA indicates that its goal in issuing the...more

Hiring Practices: A New or Old FCPA Compliance Challenge?

Contrary to the opinion of many in the FCPA space, the BNY Mellon settlement and the looming actions against six major financial institutions for hiring practices is not a big shock or surprise. The SEC is not raising a new...more

Russia’s new data law

Russia’s new Data Localisation Law went live yesterday on 1 September. Many companies with operations in Russia are scratching their heads about how to comply. The Basics - The new law applies to businesses with a...more

Interagency task force issues recommendations on federal student loan servicing contracts

Pursuant to a March 2015 Presidential directive, an interagency task force consisting of the Department of the Treasury, Department of Education, Office of Management and Budget, and Domestic Policy Council has issued...more

ADA Compliance: Landlords, You're On the Hook

The Americans With Disabilities Act (ADA) prohibits discrimination based on disability. Title III of the ADA requires that businesses provide accommodations to persons with disabilities and access that is equal or similar to...more

Hiring In Compliance, Part IV: The Interview Process

I continue my series of blog posts on the hiring process in the compliance field based on a series of interviews I did with Maurice Gilbert, the Managing Partner at Conselium Partners LP. Today, I want look at the...more

Passive Means Passive! Missed HSR Filing Spurs Antitrust Enforcers' Ire - But Change May Be Coming

The Federal Trade Commission, in its latest enforcement action relating to Hart-Scott-Rodino Act compliance, reminds investors that strict adherence to HSR filing requirements is a must, but also may have signaled that a long...more

Court Orders SEC to Implement Resource Extraction Rule

To review: On July 2, 2013, the United States District Court for the District of Columbia vacated the SEC’s resource extraction rules which were mandated by the Dodd-Frank Act. Oxfam America then brought a suit against the...more

9 Key Provisions of Outsourcing Contracts That Matter

Outsourcing, whether technical or process-centric, has become an increasingly important component of businesses of all sizes. Handing over the complexity of ever-changing systems that require increasing expertise can often...more

The Case for a Better Gifts & Entertainment Compliance Program - Part Two: An Effective G&E Program

Previously we covered setting the foundation for a better G&E compliance program. In the second piece of The Case for a Better Gifts & Entertainment Compliance Program, we’ll look at the key components to having an effective...more

Hospitality Industry Targeted in Proposed White Collar Overtime Regulations

In a March 13, 2014, memorandum, President Barack Obama directed the Department of Labor (DOL) to "modify," "streamline" and "simplify" the federal regulations regarding exemptions to overtime under the Fair Labor Standards...more

Workers’ Compensation Update: Commonwealth Court Clarifies “Written Contract” Requirement for Independent Contractor...

In 2010, the Pennsylvania Legislature enacted the Construction Workplace Misclassification Act (CWMA), which, in part, attempted to clarify who is and is not an independent contractor (in the construction industry) for the...more

The CECO’s Role in Recovery From An Organizational Ethics Breach

A major organizational ethics breach – something every Chief Ethics and Compliance Officer (CECO) desperately wants to avoid – has catastrophic potential. What should the CECO do in preparation for a breach? What does the...more

Latest Lobbying Disclosure Act Settlement Underscores the Importance of a Robust Compliance Program

Even if you have nothing to report, you still need to file: that is the lesson from last week's Lobbying Disclosure Act (LDA) settlement. Late last week, DC-based lobbying firm Carmen Group reached an agreement with the...more

Another Potential “Hook” For Entities Doing Business with Federal Contractors: The NLRB’s Browning-Ferris Decision

The new and expansive standard for joint-employer status adopted by the National Labor Relations Board (NLRB) last week has significant implications that extend beyond employer liability for collective bargaining obligations...more

FinCEN Proposes New Anti-Money Laundering Rule For Investment Advisers

On August 25, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) released a Notice of Proposed Rulemaking (NPRM), which would impose anti-money laundering (AML), suspicious activity reporting,...more

Why Did Uber Lose In Court Today? And How It Can Still Avoid Future Misclassification Liability

Today was not a good day for Uber. It suffered its second setback from the federal district court judge hearing the independent contractor misclassification class action case brought by Uber drivers against the giant...more

Q&A: Pat Harned, Ph.D. on Ethics and Compliance

In this post, CREATe’s CEO Pamela Passman talks with Patricia Harned, chief executive officer of the Ethics & Compliance Initiative (ECI). ECI empowers its members in the ethics and compliance community to operate at the...more

Privacy & Cybersecurity Update - August 2015

Third Circuit Affirms FTC’s Authority Over Cybersecurity: In the Wyndham case, the Third Circuit affirmed that the FTC has the authority to regulate cybersecurity under Section 5 of the FTC Act, and that the language of...more

Hiring In Compliance, Part III – Presentation of Job Opportunity to Potential Candidates

This week I am presenting a series on hiring in the compliance industry based on interviews I did with Maurice Gilbert, the Managing Partner at Conselium Partners LP. Today, I want look at the presentation of the job offer to...more

Practice Spotlight: Top 10 Questions Employers Have About the Newly Proposed Overtime Regulations

Employers across the country are trying to get their arms around the implications of the Department of Labor's (DOL) proposed changes to the overtime regulations. These proposed changes, which were published on June 30, 2015,...more

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