Compliance Dept. of Justice Risk Assessment

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

Adequate Procedures—The Current State of Play

The legal concept of “adequate procedures” was introduced in the UK Bribery Act in 2010 as a defence to the corporate offence of failing to prevent bribery. That said, the concept itself has in fact been present in corporate...more

Layla and Other Love Songs and Risk Assessments

On this date in October 1971, Duane Allman died. He was the co-founder, along with his brother Greg, of the Allman Brothers Band. For my money he was one of the greatest guitarists of all time. At the time of his death, the...more

New Study Highlights Anti-Bribery & Corruption Gaps & Risks

Everyone reading this post should have conducted a corporate risk assessment (CRA) in the past couple years. If not, stop reading and go conduct one now. Seriously, how can you know if your compliance program resources,...more

How Can the Automotive Industry Strengthen Its Regulatory Compliance Process and Reduce Its Compliance Risks?

Many Americans listened last week to the admissions by the now former President of Volkswagen that the company had been “dishonest” and had cheated on the U.S. emissions tests. How was this happening at the world’s #1...more

SEC’s Increased Cybersecurity Enforcement and How to Reduce Your Risks

The SEC announced last week that an investment adviser had agreed to settle charges that it failed to take required steps to protect against and respond effectively to a cybersecurity breach. The action comes on the heels of...more

Misconduct in the C-Suite: The United Airlines Scandal

It was like a bolt out of the blue – United Airlines’ CEO and two senior executives hastily announced their resignation as a result of their involvement in a bribery scandal with the New York Port Authority....more

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

Spain Sets a New Milestone with its Corporate Compliance Statute

As of July 1 of this year, Spain becomes the latest in a string of nations with a corporate compliance defense. Article 33 of Spain’s criminal code will provide an exemption from corporate criminal liability where the company...more

DOJ’s Warning to High-Tech Companies: SAP Official Pleads Guilty To FCPA Violation

When DOJ acts, they like to make a splash. While the FCPA Paparazzi have been lamenting the “slow down” in FCPA enforcement actions and the increase in case closings, DOJ still makes its mark when it acts, and I expect more...more

Give & Take: The Case for a Better G&E Compliance Program

Part One: Setting The Foundation - Why Does G&E Matter? Tony Robbins once said, “Every problem is a gift—without problems we would not grow.” In the compliance arena, the reverse also applies, as many gifts can...more

You Cannot Buy an Ethical Corporate Culture

I do not mean to be facetious or snarky, but I am concerned about organizations that sell or promote their ability to certify or give a seal of approval to a company as an “ethical” company.  Even more troubling (or perhaps...more

Breaking Down Compliance: The Keys to Creating a Successful Compliance Program—As Told through the Letters of COMPLIANCE

Still being a young role and profession, many people are working to define what makes a successful compliance professional and program, and what can help them improve. After traveling the country for the past few months at...more

The Sioux at Little Bighorn and Using Risk Going Forward

I recently wrote about the stupidity of General Custer and the defeat of his Calvary at Little Bighorn as a lead in for the failure to adequately assess and then manage risks in a Foreign Corrupt Practices Act (FCPA)...more

What the Government Expects to Find in an Anti-Corruption Compliance Program

Similar to Foreign Corrupt Practices Act enforcement generally, the federal government has expanded what it expects to find in an anti-corruption compliance program. U.S.-connected companies operating internationally...more

Economic Downturn Week, Part III – The Desktop Risk Assessment

I continue my exploration of actions you can take to improve your compliance program during an economic downturn with a review of what my colleague Jan Farley, the Chief Compliance Officer (CCO) at Dresser-Rand, called the...more

A Neglected Compliance Task: Program Assessments

The secret of life is honesty and fair dealing. If you can fake that, you’ve got it made. – Groucho Marx - Sometimes compliance practitioners miss the forest from the trees. They can get lost in the details of their...more

Practical Advice on Risk and Compliance Program Assessments

Sometimes the compliance industry makes things harder than they really need to be. As a result, Chief Compliance Officers are left to modify and transform practices and tools to fit the real world. I understand why CCOs do...more

Both Sides Now and Asking the Right Compliance Questions

One of my favorite singers has always been Judy Collins. Like most of us, I was introduced to her through her interpretation of Joni Mitchell’s song Both Sides Now which she released in 1967. Joni Mitchell did not record her...more

DOJ's 10-Point Compliance Framework

On October 1, 2014, Leslie R. Caldwell, Assistant Attorney General for the Criminal Division at the U.S. Department of Justice ("DoJ"), provided clear guidance about DoJ's expectations regarding corporate compliance programs....more

Inside M&A - Fall 2014

Managing Compliance Risks in M&A Transactions - Buyers can acquire unintended and potentially very damaging liabilities together with target business or assets. Analyzing the financial situation of a target company,...more

Risk Assessments-the Cornerstone of Your Compliance Program, Part I

One cannot really say enough about risk assessments in the context of anti-corruption programs. Since at least 1999, in the Metcalf & Eddy enforcement action, the US Department of Justice (DOJ) has said that risk assessments...more

Trying Something Different – the Desktop Risk Assessment

One type of risk assessment can consist of a full-blown, worldwide exercise, where teams of lawyers and fiscal consultants travel around the globe, interviewing and auditing. However if there is one thing that I learned as a...more

Waking Up to Massive Third Party Risk Exposure: Critical Issues To Address

A little over a year ago the Rana Plaza factory collapsed and 1,100 garment workers died. This human disaster resulting from questionable construction practices and workplace safety issues focused the eyes of the world on the...more

Building an Anti Corruption Compliance Program Practical Steps 2 18 14, 9 02 AM [Video]

Companies face many risks in the anti-corruption enforcement arena. With the growing globalization of anti-corruption enforcement, companies are responding quickly by enhancing their anti-corruption compliance...more

Tailoring Your Anti Corruption Program to a Risk Assessment [Video]

The Department of Justice and the SEC have emphasized the importance of designing an anti-corruption compliance program based on a company's risk assessment. An effective program has to be tailored to the specific risks...more

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