News & Analysis as of

Compliance Bank of New York (BNY) Mellon

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 -
Thomas Fox - Compliance Evangelist

A Trip to the Dentist for Some Compliance Insight

I had to go to the dentist yesterday. I went for what I thought was filling repair but I had somehow forgotten that it was a wisdom tooth removal and a filling repair. I know you are thinking either (1) why does someone his...more

Thomas Fox - Compliance Evangelist

Three Key Questions to Ask in Hiring of Family Members of Foreign Officials

One of the top academic commentators in the anti-corruption space is Matthew C. Stephenson, co-founder of the Global Anticorruption Blog. I was intrigued by Stephenson’s piece, entitled “Does an FCPA Violation Require a Quid...more

Thomas Fox - Compliance Evangelist

Lessons from Qualcomm

Last week the Securities and Exchange Commission (SEC) concluded a Foreign Corrupt Practices Act (FPCA) enforcement action against Qualcomm Inc. for violations on the Accounting Provisions of the FCPA, including both the...more

WilmerHale

Global Anti-Bribery Year-in-Review: 2015 Developments and Predictions for 2016

WilmerHale on

I. Introduction: Enforcement Trends and Priorities - Among other significant developments, 2015 saw the U.S. Department of Justice (the “DOJ” or the “Department”) document a policy priority of holding individuals...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Week Ending October 16, 2015

Carlton Fields on

REAL PROPERTY UPDATE - - Foreclosure/Standing: although bank established it had possession of note prior to commencement of action, bank did not demonstrate when blank endorsement was placed on note, nor did it prove it...more

King & Spalding

New York Banks Agree To Conditions For Use Of New Communication Platform

King & Spalding on

On Monday, September 14, 2015, four major banks signed agreements with New York’s Department of Financial Services to regulate their use of a new financial messaging platform provided by Symphony Communication Services...more

Fenwick & West LLP

You’re the Man—Government Targets Individuals in FCPA Cases

Fenwick & West LLP on

The government has increasingly focused its FCPA enforcement firepower on individuals. On August 31, a Russian official living in Maryland pled guilty to conspiracy to commit money laundering in connection with arranging $2...more

Fenwick & West LLP

Securities Litigation and Enforcement Newsletter

Fenwick & West LLP on

A CD or not a CD, That is the Question… That the Auditors Should Have Answered - A headline-grabbing SEC enforcement action last week against BDO USA and several of its national partners may lead audit firms to insist on...more

Morrison & Foerster LLP

Top Ten International Anti-Corruption Developments for August 2015

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important international anti-corruption developments in the past month, with links to primary...more

Manatt, Phelps & Phillips, LLP

Corporate Investigations & White Collar Defense - September 2015

No Dog Days of August for the SEC—A Recap of a Busy Month - Why it matters: Who says there is a government slowdown in August? Not for the SEC. August 2015 turned out to be very busy indeed for the agency, which...more

The Volkov Law Group

Hiring Practices: A New or Old FCPA Compliance Challenge?

The Volkov Law Group on

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

Thomas Fox - Compliance Evangelist

BNY Mellon and Lessons Learned In Hiring Family Members – Part II

In yesterday’s post I reviewed the Securities and Exchange Commission (SEC) Foreign Corrupt Practices Act (FCPA) enforcement action involving the Bank of New York Mellon Corporation (BNY Mellon) around its hiring of sons and...more

Thomas Fox - Compliance Evangelist

BNY Mellon Settles First Sons and Daughters (and Nephews) FCPA Hiring Matter – Part I

Yesterday the Securities and Exchange Commission (SEC) announced a resolution with Bank of New York Mellon Corporation (BNY Mellon) for violations of the Foreign Corrupt Practices Act (FCPA). This was the first enforcement...more

Carlton Fields

Florida’s Second District Court of Appeal Confirms Substantial Compliance is the Standard for Evaluating Conditions Precedent to...

Carlton Fields on

Earlier this week, the Second District Court of Appeal issued a long-awaited opinion in Green Tree Servicing v. Milam, Case No. 2D14-660 (Fla. 2nd DCA July 29, 2015). Until this decision, the district courts in Florida had...more

The Volkov Law Group

Private Equity FCPA Enforcement

The Volkov Law Group on

FCPA enforcement efforts are not so hard to follow and predict – the government likes to provide advance warnings as an effective means of deterrence. Justice Department and SEC officials will often tell the public their...more

The Volkov Law Group

2015: The Year of FCPA Liability for Financial Institutions?

The Volkov Law Group on

For years, we have all heard about the coming wave of FCPA enforcement against financial institutions, investment banks, private equity firms and others who interact with sovereign wealth funds overseas....more

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