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Compliance Penalties

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 -

Chicago Proposes Pharma Rep Licensing Rules and Ethical Standards

by Dechert LLP on

The City of Chicago Commissioner of Public Health on Friday, March 17, published proposed Rules to implement the highly-publicized pharmaceutical representative licensing ordinance enacted in November 2016....more

Your Cyber Minute: Current GDPR regulatory and enforcement landscape  [Video]

by Hogan Lovells on

The conversation continues with Partner Harriet Pearson and Head of our Privacy and Cybersecurity practice in Europe Eduardo Ustaran as they go deeper into what clients need to know when it comes to compliance around the...more

FCPA Recidivists: Orthofix (Part II of II)

by Michael Volkov on

In its continuing quest to push the message of aggressive FCPA enforcement, the SEC resolved FCPA charges against Orthofix, a medical device company, for $6 million in penalties and disgorgement. In a related action, the SEC...more

Not Correctly Reporting Losses: An Internal Controls Failure

by Thomas Fox on

A recent Securities and Exchange Commission (SEC) internal controls enforcement action drew my attention. It was not a Foreign Corrupt Practices Act (FCPA) enforcement action but it certainly does have implications for a...more

Badda Bing, Badda Boom!! — DOJ and SEC Make 2016 a Record Year for FCPA Enforcement (Part I of III)

by Michael Volkov on

We begin the New Year with a three-part series on the FCPA: (1) A review of FCPA enforcement in 2016; (2) Trends from 2016 FCPA enforcement; and (3) Predictions for FCPA enforcement in 2017....more

Aggressive Remediation: Embraer and JP Morgan

by Michael Volkov on

There is no question that the Justice Department has raised compliance program expectations in a number of areas. Whatever you may think about the efficacy or fairness of the FCPA Pilot Program, the Justice Department has...more

San Jose Ordinance: Offer Hours to Existing Employees before Hiring New Workers

by Morgan Lewis on

On November 8, over 63% of San Jose voters approved a first-of-its-kind ordinance that requires San Jose employers to offer additional hours of work to qualified existing employees before hiring new employees, subcontractors,...more

JPMorgan Sons and Daughters FCPA Enforcement Action, Part III-St. Mark’s Revealed

by Thomas Fox on

This week I am exploring the JP Morgan Chase (JPM) and its subsidiary, JPMorgan Securities (Asia Pacific) Limited (JPM-APAC), (collectively ‘the company’) Foreign Corrupt Practices Act (FCPA) enforcement action which...more

JPMorgan Sons and Daughters FCPA Enforcement Action: Part I – Venice and Fog

by Thomas Fox on

JP Morgan Chase (JPM) and its subsidiary, JPMorgan Securities (Asia Pacific) Limited (JPM-APAC) resolved its Foreign Corrupt Practices Act (FCPA) matter last week, obtaining a Non-Prosecution Agreement (NPA) from the...more

Embraer FCPA Enforcement Action – Part III

by Thomas Fox on

Today I continue my exploration of the recently announced Department of Justice (DOJ) and Securities and Exchange Commission (SEC) Foreign Corrupt Practices Act (FCPA) enforcement action with the announcement of the...more

[Webinar] OSHA Issues During Acquisitions and Divestitures - November 8th, 1:00p.m. EST

by Conn Maciel Carey LLP on

OSHA compliance issues have been long ignored in the due diligence process for mergers, acquisitions and divestitures. With OSHA’s new focus on follow-up inspections and Repeat citations, and expanding the concept of...more

FRANCHISOR 101: Outdated FDDs and Unregistered Franchises

by Lewitt Hackman on

The California Department of Business Oversight ("DBO") recently issued three Orders against franchisors for violating California's franchise laws....more

"UK Establishes New HM Treasury Office to Implement Financial Sanctions"

On March 31, 2016, the U.K. launched the new Office of Financial Sanctions Implementation (OFSI) within HM Treasury. OFSI, which assumes the financial sanctions responsibilities previously carried out by HM Treasury’s Asset...more

OSHA Penalties Soon Getting a Boost

by Bond Schoeneck & King PLLC on

Michael Kinsley once said “A gaffe is when a politician tells the truth.” And one gaffe that has often been repeated is Speaker Pelosi’s statement from 2010, saying about the Affordable Care Act, “we have to pass the bill so...more

New CMS Proposed Rule Provides Who/What/When for Clinical Laboratory Reporting Requirements Starting January 1, 2016

by Dickinson Wright on

Clinical laboratories will see significant changes to their Medicare payments for clinical diagnostic laboratory tests (CDLTs) starting January 1, 2017, but the basis for new payment rates will come from “applicable data”...more

The New Russian Data Protection Law: Five Important Things To Know

by NAVEX Global on

Early in July 2014, the Russian Federal Act on Data Protection was amended to require that personal data of Russian citizens be first processed and stored on servers located within the territory of Russia. Initially, the...more

Health Update - September 2015

Latest Healthcare False Claims Act Roundup and Top 3 Best Practices to Reduce Exposure - As the legal landscape in healthcare becomes increasingly complex, healthcare companies that receive federal program funds face...more

A Compilation of Enforcement and Non-Enforcement Actions

by Foley & Lardner LLP on

Non-Enforcement - Form PF — What Purpose? SEC registered investment advisers with at least $150 million of assets under management in private funds are required to periodically file Form PF with the SEC. The...more

South Korea introduces further data protection breach penalties to encourage compliance, and issues mobile app guidance

by Reed Smith on

Ever since January 2014, when South Korea’s credit card industry lost huge amounts of customer data during a data breach, the South Korean government has been gradually announcing stricter penalties for those who run afoul of...more

Canada’s New Extractive Sector Transparency Measures Act and its Implications for Companies Subject to the U.S. Foreign Corrupt...

by Morrison & Foerster LLP on

On June 1, 2015, Canada’s Extractive Sector Transparency Measures Act (“ESTMA” or “the Act”) came into force. Approved in December 2014, but not in force until this month, the Act requires companies in the extractive sector...more

The Purpose of Compliance: Promoting a Positive, Not Preventing a Negative

by Michael Volkov on

One thing about maintaining a blog – you have nightmares (alright something a little less than that) about consistency in writing. All of us can be accused of having “evolving” positions, so maybe that is my rationalization....more

IRS Guidance on FBAR Penalties

by Hodgson Russ LLP on

On May 13, 2015, the IRS issued interim guidance to its examiners regarding penalties for failure to timely file the Report of Foreign Bank and Financial Accounts (FBAR). By no later than May 13, 2016, this interim guidance...more

The Affordable Care Act’s Reporting Requirements for Carriers and Employers (Part 1 of 24)

Alden Bianchi, Chair of the our Employee Benefits & Executive Compensation Practice, will provide a weekly installment on the complex reporting obligations outlined by the Affordable Care Act for health insurance carriers and...more

Louis Berger International Pays $17 Million Penalty for FCPA Violation

On July 17, 2015, Louis Berger International, Inc., a New Jersey-based construction management company, entered into a deferred prosecution agreement (DPA) with the Department of Justice under which it agreed to pay a $17.1...more

Events Planning Company Fined over $600,000 for Serious I-9 Paperwork Violations

by FordHarrison on

On July 8, 2015, an administrative law judge (ALJ) ordered Hartmann Studios to pay a fine of over $600,000 for more than 800 I-9 paperwork violations, the largest fine awarded by an ALJ for paperwork violations to date. In...more

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