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Due Diligence Compliance

Star Wars Week: Part II – The Empire Strikes Back – Due Diligence

by Thomas Fox on

I break due diligence down into three stages: Level I, Level II and Level III. Candice Tal, Founder and Chief Executive Officer (CEO) of Infortal Worldwide, in an article entitled “Deep Level Due Diligence: What You Need to...more

Accountancy Forum Newsletter - December 2017

by Reed Smith on

In this edition, we have drafted an article on the recent FRC sanctions and we have also included short summaries of recent cases and items of interest to our target audience. At the end of the newsletter, you will also find...more

2017 Ethics & Compliance Third-Party Risk Management Benchmark Report - Data and Insights to Put to Work in Your Program Today

by NAVEX Global on

In 2017, NAVEX Global partnered with an independent research firm to survey professionals from a wide range of industries about their approach to third-party risk management and due diligence. The findings in this report...more

Facilitating tax evasion: how to avoid being unwittingly caught by the Criminal Finances Act 2017

by White & Case LLP on

The Criminal Finances Act 2017 came into force on 30th September 2017. It has introduced a new corporate criminal offence of failing to prevent tax evasion. This new offence is aimed at companies who have failed to put in...more

The 10 Hallmarks of an Effective Compliance Program: Still the Foundation

by Thomas Fox on

The joint Department of Justice (DOJ) and Securities and Exchange Commission (SEC) 2012 FCPA Guidance came out five years ago this month. As a commentator focusing on the doing of compliance, we should pause to once again...more

Compliance and Technology – Rational Actors Need to Adopt Technology

by Michael Volkov on

I always enjoyed the assumption underlying economic models – assuming people are rational actors, then . . . Sometime people do not act rationally, and sometimes people react out of fear or make unrealistic assumptions....more

ISO 37001: Risk Assessments, Employees, and Due Diligence Requirements (Part IV of V)

by Michael Volkov on

In Part IV of my series on ISO 37001, I examine requirements relating to risk assessments, design of policies and procedures, and due diligence requirements. Section 4.5 sets out requirements for conducting risk...more

In Defense of Compliance Checklists

by Michael Volkov on

Compliance officers have to avoid complicating a compliance program. As in many areas in life, there is a value in simplicity. Take for example a compliance training presentation. If a compliance officer overwhelms his/her...more

Steering the course – navigating bribery and corruption risk in private equity investments: Part 3

by Hogan Lovells on

Identifying Bribery and Corruption risk in the context of private equity investments (and M&A more generally) is key to ensuring the value of an acquisition. Companies will busy themselves with due diligence on tax,...more

The Importance of A Robust Conflicts of Interest Program

by Michael Volkov on

It is always interesting to learn how companies handle specific compliance issues. Years ago, I could always tell when a compliance department was lacking in stature and independence in a company. Typically, I observed three...more

Day 7 of One Month to More Effective Compliance for Business Ventures-Evaluating Pre-Acquisition Risk Factors

by Thomas Fox on

Today I want to look at what you should do with the information that you obtain in your pre-acquisition compliance due diligence. Jay Martin, Chief Compliance Officer (CCO) at BakerHughes, a GE company. suggests an approach...more

Day 6 of One Month to More Effective Internal Controls-Pre-Acquisition Due Diligence

by Thomas Fox on

The compliance component of your mergers and acquisition regime should begin with a preliminary pre-acquisition assessment of risk. Such an early assessment will inform the transaction research and evaluation phases. This...more

The Delusion of a Bare-Bones Compliance Program

by Michael Volkov on

Instead of wrestling over the definition of an “effective” ethics and compliance program, let’s take a step back and define what we all agree on is an “ineffective” compliance program. Unfortunately, when you work in the real...more

FCPA Compliance Report-Episode 350, Linda Justice and Her Nancy Drew Approach

by Thomas Fox on

Linda Justice brings Nancy Drew to your side to fill all those knowledge gaps in your pursuit of clients. Using her technical background in corporate investigations, she brings experience to business development, strategic...more

The Objective of Due Diligence: To Protect Your Culture

by Michael Volkov on

There has been so much attention paid to due diligence. We have reams and reams of articles highlighting the importance of due diligence. In addition, numerous vendors of due diligence services and technologies fill the...more

Day 17 of One Month to More Effective Continuous Improvement-Financial Health Monitoring

by Thomas Fox on

Continuous improvement can take many ways, shapes and forms. Typically, when it comes to third-party risks, a Chief Compliance Officer (CCO) or compliance professional will consider the ownership structure to see if there is...more

Retaining a “Risky” Third-Party

by Michael Volkov on

Every company has done it. Chief Compliance Officers have had to hold their respective noses and push forward with due diligence to retain a risky third party. Rather than reject the third party, a CCO convinces him or...more

What is the Financial Health of Your Third Parties?

by Thomas Fox on

What are some of the ways to consider third party risk, management of that risk and strategic risk in a compliance program? Typically, a Chief Compliance Officer (CCO) or compliance professional will consider the ownership...more

Using a Human Rights Lens to Strengthen Your Anti-Corruption Compliance Program

Companies are increasingly expected to manage the human rights impacts of their activities. This expectation is embedded in new legislative requirements, in the requirements of business partners and investors, and in the...more

FCPA Risks and Acquisition Integration Challenges

by Michael Volkov on

Chief compliance officers have devoted significant efforts to conducting pre-acquisition due diligence of a proposed target companies. I do not intend to diminish the importance of pre-acquisition due diligence, but I have...more

Everything Compliance-Episode 12

by Thomas Fox on

Show Notes for Episode 12, the Summer Haze Edition The dog days of summer are on the horizon and the Houston Astros lead the major leagues in winning percentage. Coincidence that the US pulls out of the Paris Climate Accords...more

Knowing Your Employees and Incident Management Systems

by Michael Volkov on

Chief compliance officers know the importance of trust, not just as a foundation of a global company’s compliance program, but in the context of knowing what company employees are doing out in the field. CCOs will always say...more

Beneficial Ownership Due Diligence Requirements

by Michael Volkov on

The new FinCEN regulations requiring financial institutions to secure beneficial ownership information is fast approaching – May 2018. The US has been way behind in this regulatory area. As a result, money-laundering activity...more

SEC Issues Updated Statement on Conflict Minerals Rule

by Ropes & Gray LLP on

On Friday afternoon, the SEC’s Division of Corporation Finance issued an Updated Statement on the Conflict Minerals Rule (the “Rule”). An updated Statement was widely anticipated. Earlier in the week, on April 3rd, the U.S....more

Leadership Lessons from Catch-22

by Thomas Fox on

Joseph Heller’s Catch-22 is one of the most famous books and movies from the second half of the 20th century. While it may not seem apparent on first blush, it has several lessons for the Chief Compliance Officer (CCO) to...more

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