Due Diligence

News & Analysis as of

Financial Services Quarterly Report - Third Quarter 2016: Managing the Compliance Aspects of Private Equity Investments

International business transactions can be subject to intense scrutiny due to the broad scope of the U.S. Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act, in addition to other similar anti-corruption measures...more

OFAC Provides Further Guidance On Iranian Sanctions

This month the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) updated its ‘Frequently Asked Questions Relating to the Lifting of Certain U.S. Sanctions Under the Joint Comprehensive Plan of Action (JCPOA)...more

DOJ and SEC Raising the Stakes on Third Party Risk Management

If you review the last ten years of FCPA enforcement, the unmistakable pattern is rising expectations with regard to corporate compliance programs, particularly with regard to third party due diligence and risk management....more

Landmark SEC Decision Cites Compliance, Diligence in Decision Not to Prosecute FCPA Violations

In a remarkable affirmation of the value of robust compliance and due-diligence programs, the Securities and Exchange Commission last month announced that it would not prosecute a U.S. company for potential violations of the...more

Safe Travel Series: Dos and Don'ts of Hotel Safety

Hotels are susceptible to a wide array of thefts, scams, hacks, and assaults. Today, the savvy traveler needs to be security conscious. That especially applies to hotels. While any given stay will, in all likelihood, turn out...more

Freedom to Utilize Genetic Resources? The Nagoya Protocol Two Years Later

Two years ago today, the Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits from their Utilization to the Convention on Biological Diversity (“Protocol”) entered into international...more

Residents Must be Alert to Property Fraudsters, UAE Legal Experts Warn

Legal experts say there are precautions residents can take to prevent being defrauded by bogus landlords and property agents. “Unfortunately, fraud pertaining to house hunters and tenants is on the rise,” said Hassan...more

Dealing with Long-Winded Out-of-Network Provider Nuisance Letters

Over the past couple years, more and more of my clients with self-funded plans have received letters from out-of-network providers appealing denied claims. The letters are usually 20 to 30 pages long, not very specific, and...more

Och-Ziff Failures in Due Diligence and Transaction Compliance (Part II)

The Och-Ziff enforcement action is replete with examples of failures in due diligence and transaction monitoring compliance. Och-Ziff’s bribery schemes were elaborate and intricate and involved complex transactions,...more

In Case You Missed It: Launch Links - October, 2016

Some interesting links we found across the web this week: Should Your Startup Take the B Corp Route? To B Corp or not to B Corp? If that’s the question your startup is asking, WilmerHale Partner Mick Bain offers...more

The Dawn of CMBS 4.0: Changes and Challenges in a New Regulatory Regime

Commercial real estate has been financed in the U.S. capital markets through creation of commercial mortgage-backed securities (CMBS) since the early 1990s, peaking at $240 billion in 2007 and representing about 25% of all...more

Begin eDiscovery with the End in Mind

In September, the Sedona Conference released the public comment version of its Commentary on Defense of Process: Principles and Guidelines for Developing and Implementing a Sound E-Discovery Process. Acknowledging the...more

SEC Cracks Down on Charitable Contributions under the FCPA - Best Practices In Light of Recent SEC Enforcement

For the first time, the Securities and Exchange Commission has brought an FCPA enforcement action premised entirely on a one-time charitable contribution. On September 20, 2016, the SEC announced a settled FCPA...more

Lessons Learned from Nu Skin

The enforcement action against manufacturer Nu Skin Enterprises highlights the risks of making charitable donations in high-risk countries without conducting meaningful anticorruption due diligence....more

5 Key Takeaways from AB InBev SEC FCPA Settlement

The Justice Department and the SEC have been busy over the last 2 weeks in the FCPA arena. For those who have raised doubts about DOJ and the SEC’s continuing commitment to FCPA enforcement, you should forever hold your...more

The Fall of Big Sam

Last week, the Football Association (FA) dispensed with the services of its shortest-serving England manager after just 67 days in the role and following only one game in charge. Sam Allardyce (Allardyce) was removed from his...more

Five on Friday – Five Recent Developments that We’ve Been Watching Closely: September 2016 #2

It’s Friday and time for another overview of developments in the field of business and human rights that we’ve been monitoring. This week’s post includes: the GAO’s latest report on the conflict minerals rule; a civil...more

Donations and Grants in China: Compliance Controls Beyond T&E

While travel and entertainment expenses have presented significant compliance challenges for life sciences companies operating in China, donations and grants can also pose notable compliance risks. China’s escalated...more

Avoiding Legal Pitfalls and Cultural Considerations When Conducting International Business in Asia

The Foreign Corrupt Practices Act - Detailed technical definitions and explanations of what constitutes corrupt practices are available. A simple explanation is that furnishing a foreign government official with...more

No Longer a Mirage: FCPA Compliance and Cooperation Has Its Benefits

On September 12, 2016, the SEC announced that it had reached a settlement with Jun Ping Zhang (“Ping”), a former executive of a Chinese subsidiary of Harris Corporation (“Harris”), regarding alleged violations of the Foreign...more

Court in LendingClub Class Action Requires Due Diligence by Lead Plaintiff Before Approving Lead Counsel

In a recent decision in the now-consolidated LendingClub class action cases, Judge William Alsup of the Northern District of California appointed a lead plaintiff but unexpectedly declined to appoint lead counsel at the same...more

IP Due Diligence in M&A Transactions [Video]

Wendy A. Choi, who leads Ballard Spahr's Patents Group, talks about the importance of intellectual property due diligence during M&A transaction....more

The Ping FCPA Enforcement Action: Lessons for the Compliance Practitioner

The Securities and Exchange Commission (SEC) settled a Foreign Corrupt Practices Act (FCPA) enforcement action against an individual earlier this month when it announced the resolution of a matter involving Jun Ping Zhang,...more

Safety topic was emphasized, not “buried in hundreds of power point slides”: employer establishes due diligence, not guilty in...

A Saskatchewan employer has been found not guilty of six occupational health and safety charges after a worker died of suffocation when he became engulfed in a grain receiving pit.  The employer’s extensive safety program had...more

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