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

OCR announces launch of Phase 2 of HIPAA audits

Although the Office for Civil Rights (OCR) has indicated in the past that it would start its next round of HIPAA audits, apparently it means business now. In the wake of an Inspector General report that the OCR was merely...more

Children's Products and the Consumer Product Safety Improvement Act of 2008: A Synopsis of the Rules and Regulations Governing Toy...

Children's products, including toys, are regulated by the Consumer Product Safety Commission (CPSC) through the Consumer Product Safety Improvement Act of 2008 (CPSIA). Certain sections of CPSIA focus on children's toys....more

SEC Tells Court It Will Implement Resource Extraction Rules in 270 Days

As previously noted, a Federal court held that the delay in implementing the resource extraction rules violated the Administrative Procedures Act. The court ordered the SEC to file with the court in 30 days an expedited...more

Securitisation: Keeping it Simple?

On 30 September 2015, the European Commission (the “Commission”) published a proposal for a regulation (the “Proposed Regulation”)1 intended to harmonise existing EU laws applying to securitisations (including proposed...more

SEC Commissioners Making a “Noisy Exit”

Securities and Exchange Commission members Daniel M. Gallagher and Luis A. Aguilar will soon leave the SEC, but neither is keeping quiet about the SEC’s treatment of chief compliance officers (CCOs). Gallagher recently...more

EBA issues DGS guidelines translations

EBA has published the translations into all official EU languages of its final guidelines on contributions to deposit guarantee schemes (DGS) and on payment commitments under the revised Deposit Guarantee Schemes Directive...more

A Summary of Predicted Litigation Under the DOL’s Proposed Fiduciary Rule

The Department of Labor’s recent Proposed Rule, which defines the term "fiduciary" as it applies to persons who provide "investment advice" to ERISA plans and IRAs, will impact the likelihood and severity of fiduciary...more

EIOPA updates Solvency 2 reporting tools

EIOPA has updated the XBRL tool for undertakings (T4U) for Solvency 2 reporting....more

ECB issues Eurosystem oversight policy framework

ECB has published its paper describing the oversight role of the Eurosystem and updating its previous paper. It gives an overview of the Eurosystem’s existing responsibilities, scope and...more

SEC brings first cybersecurity-related enforcement action

The Securities and Exchange Commission (“SEC”) recently settled its first cybersecurity-related enforcement action against a Missouri based registered investment adviser, R.T. Jones Capital Equities Management, Inc. (the ...more

FinCEN's Recently Proposed AML Rule: A Road Map for SEC-Registered Investment Advisers

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) published a notice of proposed rulemaking (the Proposed Rule) on September 1, 2015 that would impose anti-money laundering (AML) requirements for investment...more

Employee vs. Independent Contractor — A Decision Not To Be Taken Lightly

Most employers know that workers may be either employees or independent contractors. What many employers do not know is that misclassifying a worker into the wrong category could have significant financial consequences....more

Making Compliance Easier and Smarter Through Technology: Intuitive Interface and Intelligent Data Gathering is Helping WorldRemit...

WorldRemit is an online money transfer service. It’s bringing a strong challenge to other players in this field through easier-to-use services and lower fees. But while it may be an innovative company, it is still challenged...more

5 Success Factors in Cutting-Edge Compliance: Compliance Becomes King When These Elements Are Integrated Into Day-to-Day...

Technology is doing more than bringing compliance fully into the digital age. It’s also initiating a revolution that is putting compliance and ethics at the forefront of how business is run, creating far greater operational...more

European Union Advocate General Calls For High Court to Rule U.S.-EU Data Sharing Program Invalid

In an opinion that has the potential to seriously disrupt how U.S. companies can share data from Europe, on September 23, Advocate General (AG) Yves Bot of the Court of Justice of the European Union (CJEU) declared that the...more

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

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

Walking the Regulatory Compliance Path Defeats Punitive Damages

The Pope came to Philadelphia this past weekend. That’s not the first time this has happened (JPII stopped by in 1979), but the level of paranoia this time around led to four days of street shutdowns, parking prohibitions,...more

Reporting for ACA Mandates: Final Forms and Additional Guidance

The IRS has finalized the 2015 forms and instructions for reporting under the individual and employer mandates and issued additional guidance on these new reporting requirements. The following forms are now available...more

OFCCP Launches Class Member Locator

As part of its 50th Anniversary celebration, the OFCCP recently launched a website that lists, by contractor name, establishments that are in the process of developing a class member list as part of the settlement process...more

EU–US Safe Harbor About to be Struck Down?

Thousands of U.S. and European companies who rely on the EU–US Safe Harbor Framework to permit the transfer of personal data from the EU to the U.S., have come a step closer to seeing the transfer mechanism struck down....more

Department of Justice Issues Guidance on Corporate Investigations and Executive Accountability

On September 9, 2015, Sally Quillar Yates, Deputy Attorney General of the Department of Justice (DOJ) issued a memo entitled “Individual Accountability for Corporate Wrongdoing” to address the issue of incentivizing...more

Creating Trust to Effect Compliance Change

One of the ongoing battles for any Chief Compliance Officer (CCO) or compliance practitioner is that the business folks usually view compliance as the Land of No; most often populated by Dr. No him or herself. You will have...more

The Compliance Dangers of Cheerleaders and Nay-Sayers

Compliance always boils down to people and interpersonal relationships. No man is an island, and no one can go it alone in compliance. One essential requirement for effective compliance is the ability to engage colleagues and...more

Return to Sender: The Boomerang of Garnishment Checks Back to Georgia Employers

Across Georgia, employers are opening their mailboxes to discover that courts have returned checks that employers previously submitted to satisfy garnishment actions. This is the result of decisions by many courts across...more

Recent Cases Involving 60-Day Overpayment Rule Should Put Healthcare Providers on Alert

Two recent federal court cases show that the federal government intends to vigorously enforce the so-called “60-day Rule” for the return of overpayments enacted as part of the Affordable Care Act (the “ACA”) even though the...more

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