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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 violations. ... 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 -
Mayer Brown Free Writings + Perspectives

SEC Compliance Outreach for Investment Adviser and Investment Company Senior Officers

The Securities and Exchange Commission recently announced that it will host a compliance outreach program on November 7, 2024 (see the program’s agenda) on Advisers Act and Investment Company Act related topics.  The agenda...more

BCLP

The EU’s Digital Operational Resilience Act 2022/2554 (DORA)

BCLP on

Long IT sub-contracting chains can make it hard for financial institutions to understand the vulnerabilities in their IT estate and the location of key functions (where these may be located in entities who do not have a...more

BCLP

FinCEN Adopts AML/CFT Rules for Investment Advisers with Few Changes from Proposed Rules

BCLP on

On August 28, 2024, the Financial Crimes Enforcement Network (“FinCEN”) adopted final rules (“Rules”) applicable to investment advisers with relatively few changes from the rules as proposed....more

Perkins Coie

FDIC’s Proposed Changes to Custodial Deposit Accounts: Practical Implications for Fintechs and Their Banks

Perkins Coie on

The Federal Deposit Insurance Corporation (FDIC) issued a Notice of Proposed Rulemaking (the Proposal) on September 17, 2024, that seeks to strengthen recordkeeping for bank deposits held by nonbank companies on behalf of...more

Nelson Mullins Riley & Scarborough LLP

New OCC Bank Merger Act (BMA) Guidance

The Office of the Comptroller of the Currency (OCC) released guidance regarding its planned changes to the Bank Merger Act (BMA).  The New Rule: Explicitly adds financial stability as a key factor for assessing mergers,...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Wastewater Enforcement: Arkansas Department of Energy and Environment - Division of Environmental Quality and City of Bradley...

The Arkansas Department of Energy and Environment – Division of Environmental Quality (“DEQ”) and City of Bradley, Arkansas entered into an August 24th Consent Administrative Order (“CAO”) addressing alleged violations of a...more

Parker Poe Adams & Bernstein LLP

Georgia Governor's Executive Order Opens Door for Colleges to Compensate Student-Athletes for Name, Image, and Likeness

Last week saw yet another shift in the world of college athletics. This time it came through an executive order from Georgia Governor Brian Kemp that creates a path for colleges and universities to directly compensate...more

Thomas Fox - Compliance Evangelist

The John Deere’s FCPA Case: A Throwback to Compliance Fundamentals

In the world of corporate compliance, some very basic compliance lessons seem destined to be repeated. This was certainly clear from the recently announced Securities and Exchange Commission (SEC) Foreign Corruption Practices...more

American Conference Institute (ACI)

Developments in Global Sanctions Compliance with a Focus on Russia, Belarus and China

Sanctions imposed by the United States, the United Kingdom, and the European Union against Russia, China, and other parts of the world are fast-evolving. Such geopolitical shifts are creating new risks and placing further...more

The Volkov Law Group

Episode 337 -- Nicolas Garcia, GC at Orica, on Compliance Trends and Challenges in Latin America

The Volkov Law Group on

How can companies build trust and drive growth in a region as politically and economically volatile as Latin America? In this episode, Nicolas Garcia - Vice President, Legal, Regional and Compliance Manager for LATAM and...more

Mayer Brown Free Writings + Perspectives

Accelerated Schedule 13G Reporting Deadlines Effective September 30

The Securities and Exchange Commission’s accelerated Schedule 13G filing deadlines become effective September 30, 2024. On October 10, 2023, the SEC adopted changes to Schedules 13D and 13G relating to beneficial ownership...more

Clark Hill PLC

PFAS “Lookback” Reporting: Delayed in the US, Moving Ahead in Canada

Clark Hill PLC on

As regulatory activity and litigation concerning per- and polyfluoroalkyl substances (“PFAS”) continue to pick up across the U.S. and around the world, recent developments in North America highlight one of the challenges...more

Thomas Fox - Compliance Evangelist

Tone at the Top Week: Part 5 – CCOs Using Town Halls to Build Compliance

This week we have been exploring how Chief Executive Officers and other senior executives can set an appropriate Tone at the Top by actually walking-the-walk of compliance rather than simply talking-the-talk of compliance....more

Ankura

Political Nexus in Indian Startups: Essential Checks for Investors

Ankura on

As the Indian startup ecosystem continues to thrive, attracting substantial investments from around the globe, investors are increasingly eyeing opportunities within this burgeoning market. However, investing in Indian...more

The Volkov Law Group

Deere’s Bribery Schemes — Circumventing Expense Controls (Part II of II)

The Volkov Law Group on

The Deere case is an important reminder for companies to devote proper attention to ensuring robust integration planning for acquired companies.  DOJ has provided important guidance on acquisition practices and the need to...more

Schwabe, Williamson & Wyatt PC

SBA’s Proposed Rule: Recertification of HUBZone Businesses

September 19, 2024 Comments are due by October 7, 2024. Industry Group Leader Associate On Friday, August 23, the Small Business Administration issued a proposed rule that would significantly change the SBA’s HUBZone small...more

Venable LLP

Minimizing De Minimis

Venable LLP on

On September 13, the Biden-Harris administration announced new actions to address "significant increased abuse" in the use of the de minimis import exemption. The de minimis import exemption allows low-value shipments (i.e.,...more

The Volkov Law Group

The Deere SEC FCPA Settlement: A Textbook Case of Expense Abuse (Part I of II)

The Volkov Law Group on

The SEC’s recent settlement with Deere & Company for $9.9 million for FCPA violations is another textbook example of bribery schemes, which revealed the absence of a culture of compliance, and the circumvention of basic...more

Parker Poe Adams & Bernstein LLP

What Local Governments Need to Know About Latest Federal Procurement Updates and Steps to Avoid Conflicts of Interest

Before a local government can build a new town hall building or upgrade its water and sewer infrastructure using federal funds, it needs to navigate a complex maze of federal procurement requirements....more

Goodwin

Liquidity Management Under AIFMD2: RTS for Open-Ended Funds

Goodwin on

In our recent alert Loan Origination Under AIFMD2: A Guide, on loan origination under the revised Alternative Investment Fund Managers Directive (AIFMD2), we noted that the European Securities and Markets Authority (ESMA)...more

Health Care Compliance Association (HCCA)

Privacy Briefs: September 202

The HHS Centers for Medicare & Medicaid Services (CMS) and Wisconsin Physicians Service Insurance Corporation (WPS) are notifying 946,801 people whose protected health information or other personally identifiable information...more

Thomas Fox - Compliance Evangelist

Tone at the Top Week: Part 4 – CCOs Using Team Meetings to Further Compliance

We continue our blog post series on how CEOs and top senior executives can demonstrate the ubiquitous Tone at the Top. Setting the tone of doing business ethically and in compliance is one of the most critical...more

Faegre Drinker Biddle & Reath LLP

Los Angeles County Fair Chance Ordinance – Summary of New Requirements

As of September 3, 2024, employers in the unincorporated areas of Los Angeles County must comply with the Los Angeles County Fair Chance Ordinance (FCO), which places restrictions on criminal background screening beyond those...more

Goodwin

FinCEN Adopts Final AML Program Rule for Investment Advisers

Goodwin on

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) adopted a final rule (the Final Rule) on August 28 that will treat certain investment advisers and exempt reporting advisers as financial...more

Goodwin

FinCEN and Banking Agencies Propose AML Program Rule Updates for Banks and Other Financial Institutions

Goodwin on

Earlier this summer, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Proposed Rule revising its regulations under the Bank Secrecy Act (BSA) requiring financial institutions to...more

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