I’m old enough to remember when seat belts were optional. And I remember people up in arms when seatbelt laws first passed. But now, my young adult children and their friends simply get in the car and buckle up without...more
On December 5, 2022, the Department of State, Directorate of Defense Trade Controls (“DDTC”) issued new Compliance Program Guidelines, “intended to provide an overview of an effective compliance program and an introduction to...more
It’s been five months since Russia invaded the Ukraine, and the United States has imposed a succession of increasingly severe economic sanctions on Russia and Belarus. A recent study published by Jeffrey Sonnenfeld, a...more
Some may dismiss OFAC’s recent announcement last week that it issued a Finding of Violation to MidFirst Bank for violations of the Weapons of Mass Destruction Proliferators sanctions regulations as insignificant because OFAC...more
As we’ve reported elsewhere in our blog, the U.S., EU, and other nations recently have enacted significant economic sanctions against Russian individuals and entities in response to Russia’s invasion of Ukraine. Russia is...more
As for the Judiciary, the U.S. Supreme Court did not issue any relevant decisions nor grant certiorari in any notable FCA cases in FY21. To the contrary, they denied petitions to review appellate cases of potential...more
2/11/2022
/ Appeals ,
Corporate Misconduct ,
Corruption ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Excessive Fines Clause ,
False Claims Act (FCA) ,
Fraud ,
Good Cause ,
Healthcare Fraud ,
Motion to Dismiss ,
Public Disclosure ,
Qui Tam ,
Scienter ,
SCOTUS ,
Standard of Review ,
Whistleblowers
Worth the Wait? DOJ finally released its Fraud Statistics for FY 2021 and announced the “second largest amount recorded” since 1986: FCPA Settlement and judgment exceed $5.6 billion...more
2/11/2022
/ Corporate Misconduct ,
Corruption ,
Cybersecurity ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Fraud ,
Healthcare Fraud ,
Qui Tam ,
Regulatory Violations ,
Whistleblowers ,
White Collar Crimes
Compliance Professionals: As the Ukraine braces for a possible Russian incursion, are you bracing for the impact of economic sanctions against Russia?...more
1/28/2022
/ Biden Administration ,
Economic Sanctions ,
Embargo ,
Export Administration Regulations (EAR) ,
Export Controls ,
Financial Services Industry ,
Financial Transactions ,
Foreign Direct Product Rule ,
Foreign Policy ,
Foreign Relations ,
ITAR ,
Office of Foreign Assets Control (OFAC) ,
Russia ,
SDN List ,
SWIFT ,
Technology Sector ,
Ukraine ,
US Trade Policies
$1.9 trillion dollars of federal spending on the horizon. That’s right, immediately following his inauguration in 2021, President Biden proposed a $1.9 trillion stimulus plan to help recover from the COVID-19 pandemic....more
Until recently, the U.S. government treated Hong Kong and China as two separate destinations for export control purposes and in many cases provided Hong Kong with preferential treatment....more
1/18/2021
/ Bureau of Industry and Security (BIS) ,
China ,
Electronic Export Information (EEI) ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
General Licenses ,
Hong Kong ,
ITAR ,
Military End Use ,
US Trade Policies
As we look past the Herbalife FCPA settlement with DOJ and the SEC for $123 million to resolve FCPA bribery and books and records violations, we are reminded of the variety of foreign government touchpoints and FCPA risks....more
9/10/2020
/ Books & Records ,
Bribery ,
China ,
Compliance ,
Corruption ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Herbalife ,
Popular ,
Risk Mitigation ,
White Collar Crimes
In these challenging times, when governments around the world are asking all “non-essential” workers to stay home, and companies are struggling with business interruptions and difficult decisions regarding pay-cuts, layoffs...more
4/21/2020
/ Business Closures ,
Business Continuity Plans ,
Business Interruption ,
Chief Compliance Officers ,
Compliance ,
Coronavirus/COVID-19 ,
Ethics ,
Furloughs ,
Layoffs ,
Risk Assessment ,
Wages
Jessica Sanderson, Of Counsel at The Volkov Law Group rejoins us for her annual review of False Claims Act enforcement.
2020 marks the 150th anniversary of the Department of Justice (“DOJ”), and it unwrapped a nice gift:...more
1/27/2020
/ Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
FHA Loans ,
Fraud and Abuse ,
Health Care Providers ,
Healthcare Fraud ,
HUD ,
Motion to Dismiss ,
Physicians ,
Procurement Guidelines ,
Qui Tam ,
Statute of Limitations ,
Tolling ,
Whistleblowers
As the holidays quickly approach, consider sending a message from the Board or senior management reminding employees about your gift and hospitality policy....more
12/18/2019
/ Anti-Corruption ,
Best Practices ,
Compliance ,
Corporate Culture ,
Employer Liability Issues ,
Employment Policies ,
Ethics ,
FCPA Guidance ,
Holiday Gifts ,
Holidays ,
Risk Management ,
UK Bribery Act
On June 21, 2019, OFAC changed its requirements for reporting on blocked or rejected transactions under 31 C.F.R. §501.604. With little fanfare, the interim rule published in the Federal Register greatly expands the...more
On June 13, 2019, OFAC announced a settlement with Expedia Group, Inc. for violations of the Cuban Assets Control Regulations (“CACR”). (Available here). Expedia’s foreign subsidiaries assisted more than 2,200 individuals...more
6/17/2019
/ Audits ,
Compliance ,
Corporate Counsel ,
Corporate Monitoring ,
Cuba ,
Cuban Assets Control Regulations (CACR) ,
Economic Sanctions ,
Employee Training ,
Foreign Corporations ,
Foreign Subsidiaries ,
Iran ,
Iran Sanctions ,
ITSR ,
Office of Foreign Assets Control (OFAC) ,
Risk Mitigation
On Friday May 3, 2019, I attended the Rocky Mountain Securities Conference in Denver and heard from a number of regulators and industry experts, including SEC Commissioner Hester Peirce. ...more