News & Analysis as of

Cooperative Compliance Regime

New Human Rights Case Alleging Deception Of Consumers Filed Against Food Companies (This Time On The East Coast)

by Perkins Coie on

In the wake of the 2016 dismissal of human rights cases filed against food companies in California, a new class action case was filed on February 26, 2018 in Massachusetts federal court (Tomasella v. Hershey Co.) alleging...more

April 15 Isn’t Just Tax Day—It’s Also AML Certification Compliance Day

It’s not just your taxes that are due each year on April 15. For financial institutions, this coming April 15 is the date the New York Department of Financial Services’ (NYDFS’s ) new Anti-Money Laundering (AML) Part 504...more

Challenges in Global Compliance Operations: Structure and Responsibilities (Part I of II)

by Michael Volkov on

Global companies face ever-increasing challenges when building and implementing global ethics and compliance programs. From my vantage point, the set of challenges can be different depending on the industry. Global...more

2017 – The Health Law Year in Review

Uncertain. What better word to describe a year in which a new administration came to power and began to chart a new course for health policy, the fate of the Affordable Care Act (ACA) hung in the balance, and courts grappled...more

IRS Modifies Voluntary Compliance Program Fees for Qualified Retirement Plans

by Ballard Spahr LLP on

The IRS has announced that it has made substantial modifications to the fee structure applicable to voluntary compliance program (VCP) applications for the correction of compliance defects in tax-qualified retirement plans,...more

California Court of Appeal Holds that Demand Futility Must be Reassessed at Time of Filing of Amended Complaint

In Apple Inc. v. Superior Court, No. H044133, 2017 WL 6275830 (Cal. App. Dec. 11, 2017), the California Court of Appeal, Sixth District, considered whether a plaintiff asserting a shareholder derivative lawsuit must plead...more

The Best Defense Is A Good Offense: FCPA Corporate Enforcement Policy Cements Importance Of Compliance Programs

The Department’s revised FCPA Corporate Enforcement Policy—which will be incorporated into the United States Attorneys’ Manual—builds on and makes permanent the Department’s 2016 FCPA Pilot Program....more

GDPR for pension schemes - a practical guide

by Hogan Lovells on

Data protection law is undergoing radical change that is impacting employers and trustees of pension schemes and all service providers to them. With effect from 25 May 2018 the European General Data Protection Regulation...more

A Team Built for Game Seven

by Thomas Fox on

If you do not believe in the compliance regime that you are pushing, it will be nearly impossible for the rest of your far-flung corporate work force to believe in it. Talk about compliance and the positive aspects of your...more

State of Florida Provides Additional Guidance on New Generator Obligation for Senior Living Facilities

Florida Argentum has worked with the Florida Agency for Health Care Administration (AHCA) and Florida Department of Elder Affairs (DOEA) to obtain clarification on several matters with respect to Governor Scott’s emergency...more

Trends in competition law enforcement across Africa

by Hogan Lovells on

Competition law is growing in Africa. According to a recent World Bank report, in 15 years the number of jurisdictions in Africa with competition law has almost trebled. A number of African countries have introduced or...more

Moving Back In-House to Move Compliance to the Next Generation

The following interview is with Nicole Rose, Head of Risk and Compliance, Uniting Resources NSW and ACT. As you may recall, Nicole and I co-produced the anti-bribery training animation, “Why We Say Yes,”. RB: So, Nicole, I...more

The CCO as a Futurist

by Thomas Fox on

Every Chief Compliance Officer (CCO) and compliance practitioner who thinks about their compliance program one, three or five years down the road is a budding futurist. The Compliance Week 2017 Annual Conference opened this...more

Federal Reserve Finds First Bank in Violation of the Volcker Rule

On April 20, 2017, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) issued a Consent Order to Deutsche Bank AG after finding deficiencies in the bank’s Volcker Rule compliance program, imposing a...more

From Dr. No to an Agile Compliance Program

by Thomas Fox on

How agile is your compliance program? How does this fit into the operationalization requirement laid out in the Department of Justice’s (DOJ) Evaluation of Corporate Compliance Programs (Evaluation)? While many have argued...more

Moving into New Space – Communicating the Operationalization of Compliance

by Thomas Fox on

While many are no doubt celebrating Cinco de Mayo today, it is also the 66th anniversary of the first foray into space for the US, albeit in a sub-orbital way. It was on this date in 1961, that Navy Commander Alan Shepard was...more

Fed Assesses First Penalty for Volcker Rule Violation

The Board of Governors of the Federal Reserve System has assessed its first penalty for violation of the Volcker Rule against Deutsche Bank AG. The Volker Rule required Deutsche Bank’s Chief Executive Officer to annually...more

Writing Tips Inform Your Compliance Program

by Thomas Fox on

Today I consider some tips from the world of fiction composition for your compliance program. These lessons are applicable for both the design, enhancement and implementation of your compliance regime. Moreover, by...more

OIG Publishes New Tool for Measuring Compliance Program Effectiveness

The Department of Health and Human Services, Office of Inspector General (OIG), in conjunction with the Health Care Compliance Association, recently released a resource document to help healthcare organizations measure the...more

Top bribery and corruption developments in 2017 for ADG companies

by Hogan Lovells on

In recent years, U.S. and Western European military spending has decreased as military spending in other parts of the world has risen. As a result, aerospace, defense and government services (ADG) companies increasingly rely...more

Understanding the New DOJ Compliance Guidance: Part Three – Policies & Procedures

This is the third in a series of posts where we will explore critical elements of a successful compliance program. In February, the Department of Justice’s Fraud Section offered a new perspective on what the government...more

FDIC Chairman: A “Culture of Compliance” Begins at the Top

by Ballard Spahr LLP on

In his remarks during last week’s launch of Case Western Reserve School of Law’s Financial Integrity Institute, FDIC Chairman Martin J. Gruenberg spoke on the historical context of today’s BSA/AML regulatory framework and the...more

DOJ Releases Guidance on Compliance Programs

by Alston & Bird on

In February 2017, the Fraud Section of the Department of Justice’s Criminal Division published guidance on how it assesses corporate compliance programs. This is the first formal guidance issued by the Fraud Section under the...more

Lessons Learned and Compliance Trends from the VW and Takata Scandals (Part III of III)

by Michael Volkov on

When unraveling a major corporate scandal, especially multi-year schemes involving senior executives, the blame game or lessons learned approach can easily turn into a fruitless exercise. The VA and Takata scandals are...more

Moody’s Settles RMBS/CDO Ratings Claims with DOJ, States

by Burr & Forman on

After markets closed on Friday the 13th, the U.S. Department of Justice (“DOJ”) announced an $864 million settlement regarding Moody’s credit ratings of residential mortgage-backed securities (“RMBS”) and collateralized debt...more

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