Is your company ready to bet its future on whether it can outpace a whistleblower to the DOJ’s door?
In this episode, Michael Volkov takes a deep dive into the Department of Justice’s newly announced strategy to reshape...more
CPB’s administrative enforcement program is robust and increasing, especially with the importance of trade and tariff enforcement. There are a lot of “ins and outs” (Big Lewbowski Here) to the administrative process which...more
In a significant expansion of internal controls enforcement, the SEC announced a $2.1 million settlement with R.R. Donnelley & Sons Co. ("RRD") for its handling of a 2021 ransomware attack and resulting disclosure failures. ...more
In a significant expansion of internal controls enforcement, the SEC announced a $2.1 million settlement with R.R. Donnelley & Sons Co. (“RRD”) for its handling of a 2021 ransomware attack and resulting disclosure failures. ...more
After months and months of deliberations and negotiations, the SEC finally issued its final rules for climate disclosures. The Enhancement and Standardization of Climate-Related Disclosures for Investor (“the final rule”)....more
In late July 2023, the Securities and Exchange Commission (“SEC”) adopted new rules requiring public companies to disclose cybersecurity incidents and cybersecurity governance policies and practice. The SEC largely adopted...more
The SEC has been pushing the envelope on enforcement initiatives. At the same time, the SEC is pushing new disclosure obligations like cybersecurity and climate change. The SEC is following up on the importance of...more
You know companies face a new and aggressive enforcement regime when shorthand terms, such as “greenwashing,” are adopted prior to the implementation of comprehensive regulations governing disclosure of climate change issues...more
The Securities and Exchange Commission is quickly raising the stakes for global companies. Along with these new regulatory requirements, the risk of enforcement multiply, especially when it comes to corporate disclosure...more
The Securities and Exchange Commission is very busy these days – aggressive enforcement, new rules and regulations, and wrestling with the burgeoning cryptocurrency industry. The SEC will play a key role in rolling out...more
4/22/2022
/ Climate Change ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Greenhouse Gas Emissions ,
Proposed Regulation ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
The Securities and Exchange Commission is busy. The new Chairman Gary Gensler hit the ground running and is pushing an active agenda of policy issues and enforcement. Along with this push, the SEC’s new enforcement director,...more
4/21/2022
/ Corporate Governance ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Disclosure Requirements ,
Form 8-K ,
Proposed Rules ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On December 3, 2021, the U.S. Securities and Exchange Commission (“SEC”) announced the adoption of a final rule that fully implements the requirements of the Holding Foreign Companies Accountable Act (“HFCAA”) enacted by the...more
ESG – the initials that are transforming corporate missions, purposes and structures, fueled by stakeholder and investor demand. It is a significant moment in corporate and stakeholder interactions. ...more
10/28/2021
/ Business Plans ,
Business Strategies ,
Capital Investments ,
Compliance ,
Corporate Culture ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Investment Management ,
Publicly-Traded Companies
Chief compliance officers can occasionally suffer from a “complex” (akin to the Jungian one). CCOs and their priorities are often pushed aside in favor of “more important” corporate initiatives. CCOs are used to fighting...more
9/21/2021
/ Business Plans ,
Business Strategies ,
Capital Investments ,
Chief Compliance Officers ,
Compliance ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Ethics ,
Publicly-Traded Companies ,
Sustainability
The growing demand for increased diversity on corporate boards passed another hurdle. The SEC approved to Nasdaq’s proposed rule changes to mandate increased board diversity requirements. Three SEC Commissioners, including...more
8/20/2021
/ Board of Directors ,
Corporate Governance ,
Disclosure Requirements ,
Diversity and Inclusion Standards (D&I) ,
LGBTQ ,
Listing Standards ,
Minorities ,
Nasdaq ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Woman Board Members
The Securities and Exchange Commission is gaining traction in the enforcement of cybersecurity and disclosure requirements. The SEC has a lot on its plate these days – ESG, cybersecurity, and the traditional mix of...more
6/17/2021
/ Cybersecurity ,
Data Breach ,
Disclosure Requirements ,
Enforcement Actions ,
Escrow Accounts ,
Failure to Comply ,
First American Title Insurance Co. ,
Form 8-K ,
Non-Public Information ,
Personal Data ,
Personally Identifiable Information ,
Popular ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Vulnerability Assessments
Forgive me for going out on a limb here. But this issue is fairly obvious. A simple question:
Should the Chief Compliance Officer be responsible for the Environmental, Social and Governance function?...more
6/15/2021
/ Business Strategies ,
Capital Investments ,
Chief Compliance Officers ,
Compliance ,
Corporate Culture ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Publicly-Traded Companies ,
Sustainability
Corporations are holding their respective breaths. SEC Chairperson Gary Gensler and his SEC colleagues are moving quickly to establish a regulatory framework for ESG disclosures. ...more
6/8/2021
/ Business Plans ,
Business Strategies ,
Capital Investments ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Publicly-Traded Companies ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Sustainability
On March 10, 2021—by an overwhelming majority—the European Parliament passed a resolution that directs the European Commission to move forward with a formal directive (“Directive”) mandating Environmental, Social and...more
I have written extensively about the new and hot business trend – environmental, social and governance programs (“ESG”). The luster surrounding ESG has been a significant business trend and priority. Like any new trend, the...more
4/30/2021
/ Business Strategies ,
Capital Investments ,
Corporate Governance ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Internal Controls ,
Investment Management ,
Policies and Procedures ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Sustainability
The ESG bandwagon continues to roll – investors, companies and business media are all touting the importance of ESG for corporate success. Right behind are a number of ESG vendors, who are providing automated platforms to...more
Bausch Health agreed to pay the SEC $45 million to settle Valeant Pharmaceuticals (former name) accounting fraud schemes.
Three former executives, former CEO Michael Pearson, CFO Howard Schiller and Controller Tanya Carro...more
The Department of Justice recently announced updates to its Foreign Corrupt Practices Act Corporate Enforcement Policy. While the changes were relatively minor, the modifications underscored important principles surrounding...more
12/4/2019
/ Anti-Corruption ,
Bribery ,
Compliance ,
Corporate Counsel ,
Corporate Misconduct ,
Corruption ,
Criminal Investigations ,
Department of Justice (DOJ) ,
Disclosure Requirements ,
Enforcement Actions ,
Enforcement Guidance ,
Evidence ,
FCPA Corporate Enforcement Policy (CEP) ,
FCPA Guidance ,
Foreign Corrupt Practices Act (FCPA) ,
Policy Statement ,
Regulatory Reform ,
Regulatory Requirements ,
Regulatory Violations ,
Self-Disclosure Requirements ,
Transparency ,
Voluntary Disclosure ,
White Collar Crimes
Last month, the California Attorney General released draft regulations for the California Consumer Privacy Act (CCPA). (Here). The regulations focus on three primary areas: (1) consumer notices; (2) consumer requests for...more
11/13/2019
/ California Consumer Privacy Act (CCPA) ,
Compliance ,
Consumer Privacy Rights ,
Cybersecurity ,
Data Collection ,
Data Management ,
Data Privacy ,
Data Protection ,
Disclosure Requirements ,
Personal Data ,
Personally Identifiable Information ,
Privacy Laws ,
Regulatory Requirements ,
Request For Information ,
Verification Requirements
The fundamental principle of SEC’s market regulation is the power of sunshine, transparency and disclosure. In other words, the SEC seeks to ensure that companies disclose important information to the public so that...more