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

First DPA in the U.K. Signals Britain is Serious About Bribery & Corruption

Late last year, ICBC Standard Bank Plc, a U.K.-based financial institution with operations around the world, agreed to pay a $37 million fine and enter into a deferred prosecution agreement (DPA) with British financial...more

Reflections on the SEC- FCPA Enforcement Action Against SAP

The Foreign Corrupt Practices Act (FCPA) enforcement journey, which began last summer with the guilty plea of Vicente Garcia for the payment of bribes to obtain contracts in Panama for his employer, SAP International, ended...more

New Reporting Obligations Under the Modern Slavery Act 2015: Is Your Business Ready?

The Modern Slavery Act 2015 (MSA) seeks to combat slavery and human trafficking by requiring businesses to ensure that their operations and supply chains do not allow for either. Under section 54 of the MSA, organisations...more

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

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

Rubik’s Cube and the Intersections of Compliance

It is generally believed that the world’s single best selling toy is the Rubik’s Cube, invented in 1974 by the Hungarian Erno Rubik. Although it was initially believed that Rubik’s Cube was built as a teaching tool to help...more

What Good Compliance Looks Like: Part II

In a prior post, I shared the view of a CEO of a Fortune 500 company, who launched his talk at a compliance event by asking “what does good look like?” In that post, I concluded with how “I spent the better part of my career...more

Tribute to the Jefferson Airplane and Communications in Compliance

There are times when the universe converges in some of the oddest coincidences. It happened one day last week when two members of the original Jefferson Airplane lineup died on the same day. Most people familiar with what my...more

2015 Corruption Perceptions Index, a Vital Anti-Bribery Compliance Tool, Highlights Global Corruption Risks for Corporations

On January 27, 2016, Transparency International released its 2015 update to its annual “Corruption Perceptions Index” (“CPI”), a vital resource for corporate anti-corruption compliance efforts. The 2015 CPI rates 168...more

Data Analytics Week – Part V: Bribes on the Other Side of the Ledger and Best Practices Going Forward

I end my review of the types of data analysis that can be used to help detect or prevent bribery through the case studies from Joe Oringel, co-founder and Managing Director of Visual Risk IQ, a firm that helps audit and...more

Data Analytics Week – Part IV: Third Parties and Duplicate Invoices

I continue my exploration of the use of data analytics in a best practices compliance program. Today we look at how data analytics can be used to help detect or prevent bribery and corruption where the primary sales force...more

SEC’s First Whistleblower Award to Company Outsider: Game Changer?

The headlines lit up this month when the Securities and Exchange Commission (SEC) issued its first-ever award to a whistleblower who wasn’t employed by the company on which he had blown the whistle. The award was a...more

2016 Trends #6: Working With HR—Time to Try Again

It’s been said that no corporate function has the opportunity to contact more employees more often than Human Resources. Recruiting, hiring, on-boarding, performance reviews, promotions, investigations, discipline,...more

Top Compliance Issues Facing Manufacturers in 2016

In the last several years, the U.S. has been aggressively enforcing laws governing exports and international conduct. This is amply illustrated by the continuing imposition of large penalties on multinational companies for...more

Data Analysis Week – Part III: Data Analysis to Prevent Employee Fraud

I continue my exploration of the use of data analytics in a best practices compliance program. Today we look at how data analytics can be used to help detect or prevent bribery and corruption where the primary sales force...more

Data Analysis Week – Part II: Setting Up Your Analysis

Today, I continue my exploration of data analysis with Joe Oringel, co-founder and Managing Director of Visual Risk IQ, a consulting firm that helps audit and compliance people see and understand their data. Today, we look at...more

Data Analysis Week – Part I: What is Data Analysis in Compliance?

This week I will begin a five-series exploring data analysis and how it can be used by the Chief Compliance Officer (CCO) or compliance practitioner to support a best practices compliance program under the Foreign Corrupt...more

"US Enforcement Authorities Tighten Post-Settlement Scrutiny of Financial Institutions"

Last year, financial institutions continued to settle in record numbers with federal and state criminal and civil authorities in areas including benchmark interest rate manipulation, economic sanctions and anti-money...more

Take It Easy – Ruminations on Corruption Scandals in International Sports

As I end my week’s exploration of the intersection of bribery and corruption in international sports, I have also ended a week of solid listening to The Eagles 1970s studio albums. In honor of Glenn Frey, I will also end this...more

2016 Trends #5: The Wide World of Sports

If 2016 is anything like last year, we can count on the world of sports to provide a variety of fodder for ethics and compliance discussions. Sports scandals now rival political and business ethics scandals as the...more

Alleged Bribes In Tennis – Why Reporting of Unethical Conduct is Critical

I continue my exploration of bribery and corruption in sports. Today we leave the world of track and field and enter the gentile realm of tennis where there have been recent reports of match fixing and attempted bribery....more

Fraud and Bribery: Segregation of Duties

Some things go together. Chocolate chip cookies and milk, Hepburn and Tracy, Lewis and Martin (I know, I am showing my age, but you get the point), and many other favorite combinations. So, you get the point – in the world of...more

[Webinar] White Collar Crimes in Indo-U.S. context: Do’s and Don’ts - Meritas Capability Webinar - Feb. 3rd, 10:00am EST

While emerging markets represent untapped growth potential and investment opportunities, there is often a sharp contrast between global best practices and compliance requirements and accepted business practices prevalent in...more

Foreign Corrupt Practices Act Enforcement 2016: In Like A Lamb, Out Like A Lion

In 2015, the U.S. Government significantly bolstered its resources dedicated to combat international corporate bribery under the Foreign Corrupt Practices Act ("FCPA"). By announcing the addition of a team of FCPA-dedicated...more

The FCPA Risks of Teaming in the Defense Industry

As reported in the December 25, 2015 New York Times (NYT) article, “U.S. Foreign Arms Deals Increased Nearly $10 Billion in 2014,” “foreign arms sales by the United States jumped by almost $10 billion in 2014, about 35...more

Bribery Requires – Money

I have to confess – I love the show Shark Tank. Mr. Wonderful, Kevin O’Leary, is my favorite Shark. Mr. Wonderful often reminds the contestants and other Sharks that the central issue in considering business proposals is –...more

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