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

Conflicts of Interest: When You're Having Too Much Fun at That Business Lunch

How should fund directors monitor gifts and entertainment received by investment adviser personnel? This question moved to the forefront in February, when the Securities and Exchange Commission’s Division of Investment...more

TCPA: New Ruling May Invalidate Your Existing Consumer Consents

Much has been written about the Federal Communication Commission's ("FCC's") recent 138-page Declaratory Ruling and Order that broadened the scope of the Telephone Consumer Protection Act ("TCPA") and will likely encourage...more

EPA Issues Direct Final Rule To Mandate Updated Electronic Reporting

The July 20, 2015, Federal Register includes a notice for direct final action to amend the electronic reporting regulations for Section 5 under the Toxic Substances Control Act (TSCA). The U.S. Environmental Protection Agency...more

How to Succeed In Compliance – The Compliance Retreat

In 1961, one of my favorite Broadway musical comedies appeared How to Succeed in Business Without Really Trying. It ran for over 1400 performances in its original Broadway run and was based on the 1952 book by Shepherd Mead,...more

One Anti-Corruption Compliance Panel: Multiple Perspectives

On July 23rd, 2015 at the Hotel Kitano in New York City, The Network (www.tnwinc.com) hosted an Anti-Corruption Compliance Panel discussion titled “Why Anti-Bribery Programs Fail and How Compliance Must Evolve.” Cindy Curtin...more

10 Tips for Minimizing Company Liability for Terminating Employees who Steal Trade Secrets

When your company uncovers evidence that an employee misappropriated trade secrets it must act swiftly. The company may want to fire the employee to protect itself from the potentially devastating consequences. But how can...more

HCS: OSHA Issues Inspection Procedures for Hazard Communication Standard (HCS 2012)

On July 20, 2015, the U.S. Department of Labor's Occupational Safety and Health Administration (OSHA) issued OSHA Directive Number CPL 02-02-079. The Directive is intended to establish "policies and procedures to ensure...more

Cloud Sharing Apps Scrutinized for ePHI

In a relatively short time period, the direct costs of document storage have dropped precipitously, and cloud-based document storage has become ubiquitous. Clearly, this is a wave of the future. But a recent settlement...more

USCIS Issues Final Guidance on When to File an Amended or New H-1B Petition After Matter of Simeio Solutions, LLC – But Cautions...

On July 21, 2015, USCIS issued Final Guidance for agency adjudicators regarding applying the precedent decision, Matter of Simeio Solutions, LLC. As we previously reported, Matter of Simeio radically reinterpreted the...more

A Hands-On CEO and Support for Compliance

A compliance program without CEO support is almost doomed to be ineffective. We all live by the standard of an “effective” ethics and compliance program. I am always reluctant to embrace a dogmatic expression but the support,...more

Employee Benefits: A Major Curtailment of the IRS Determination Letter Program Will Impose New Compliance Burdens on Sponsoring...

The Internal Revenue Service ("IRS") announced, on July 21, 2015, a major curtailment of its determination letter program for individually designed qualified retirement plans ("Individually Designed Plans") that will impose...more

Unpacking the Australian OTC Derivative Reporting Regime

The Australian government has released draft regulations implementing a single sided exemption from the trade reporting regime for over-the-counter (OTC) derivatives. Consultation on the regulations closed in late June and...more

Proposed Rule Aims to Refine Stark Regulations and Clarify “Incident To”

On July 15, 2015, the Centers for Medicare and Medicaid Services (CMS) published the calendar year (CY) 2016 Physician Fee Schedule Proposed Rule. In addition to updating several traditional Part B payment policies, the...more

FERC, NERC and Business Blackout: New CIP Standards and Fictional Cyber Attacks

The Federal Energy Regulatory Commission (FERC) issued a Notice of Proposed Rulemaking (NOPR) July 16, 2015, proposing to approve various Critical Infrastructure Protection (CIP) reliability standards proposed by the North...more

Go Set A Watchman and Setting Your Compliance Message

One of my all-time favorite books has always been To Kill a Mockingbird. As a lawyer and a Southerner, I have admired Atticus Finch in print and on the silver screen for well over 50 years. So it was with more than some...more

Potential Stark Changes Ahead

On July 15, 2015, the Centers for Medicare and Medicaid Services (“CMS”) published proposed regulations governing policies and payments made under the Physician Fee Schedule for calendar year 2016 (the “Proposed Rule”). In...more

Iran – Don’t Forget the General License!

Iran entered into a historic nuclear agreement with the U.S. and other world powers on July 14th 2015. The agreement will allow the licensing of the export, re-export, sale, lease or transfer to Iran of commercial passenger...more

Coming Soon... New Closing (no, Consummation...) Rules!

What?! We can’t call it a closing anymore? Under new federal regulations regarding the Truth in Lending Act (“TILA”) and the Real Estate Settlement Procedures Act (“RESPA”), the terminology for a “closing” or “settlement” is...more

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

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 Supreme Court Addresses Scope of Section 11 Liability for Statements of Opinion

As the Supreme Court recently explained in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund, 135 S. Ct. 1318 (2015), that distinction is significant when it comes to liability under Section 11 of...more

Alert: SEC Proposes Long-Awaited Compensation Clawback Rule

On July 1, 2015, the SEC issued a proposal to implement the last of the compensation-related provisions of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act that remained untouched on the SEC's plate—Section...more

Toshiba Scandal Underscores the Importance of a Speak-Up Culture

In what’s being called the most damaging event in the company’s 140-year history, Toshiba admitted this week to overstating its operating profit by $1.22 billion during the past several years. This staggering figure and...more

Are Statute Of Limitation Defenses On Your Radar?

Mortgage servicers and their clients have been working with a population of defaulted loans in the hundreds of thousands for the better part of the last seven years. Now, as regulatory and statutory changes have extended...more

Top 6 at 6 - Climate Change Legal Highlights of the First Six Months of 2015

Some might say that the Clean Power Plan is all one needs to talk about in any highlights article on recent climate change legal issues. When final the CPP will expand the scope of the Clean Air Act profoundly, impact the...more

Ten Key Elements of an AML Compliance Program

AML compliance reminds me of a classic Three Stooges scene from A Plumbing We Will Go – Curly, as one of the plumbers, continues to add pipes to a leaking bathtub, only to be surprised when the water continues to come out of...more

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