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Due Diligence Compliance

Everything Compliance-Episode 28, the Cohen and Friends Edition

by Thomas Fox on

This week the gang sticks a roundtable Q&A, with a focus on the Michael Cohen imbroglio. Jay Rosen considers the lessons to be learned in hiring third-parties. Matt Kelly considers issue from the COSO angle: the control...more

10 Hallmarks of an Effective Compliance Program - #7 Third Parties

by Thomas Fox on

Episode 7 of a ten-part series for compliance professionals. In this new series of audio white papers, Thomas Fox looks at the 10 Hallmarks of an Effective Compliance Program. Hallmark # 7: Third Parties....more

Panasonic FCPA Enforcement Action: Part IV – Lessons Learned

by Thomas Fox on

We continue our exploration of the Foreign Corrupt Practices Act (FCPA) enforcement action involving Panasonic Avionics Corporation (PAC) and its parent Panasonic Corporation (Panasonic). Today, I want to conclude with some...more

Podcast - Risk Management: Troubleshooting & Problem Solving

by Ropes & Gray LLP on

[co-speaker: Hui Chen, Ethics and Compliance Consultant] Implementing effective compliance programs is challenging, especially where third-party risk management is involved. In this podcast, Ropes & Gray litigation &...more

How sanctions-proof is your Source of Wealth due diligence?

U.S. sanctions against Russian oligarchs and their associated companies demonstrate the value of Source of Wealth due diligence assessments that go beyond simply identifying the assets owned....more

Financial Services Quarterly Report - First Quarter 2018: Luxembourg Implements Fourth EU AML Directive

by Dechert LLP on

The EU AML4 Directive (Directive)1 – an EU directive aimed at combatting money laundering and terrorist financing – has finally been transposed into Luxembourg law through the adoption of bill 71282. This occurred several...more

First FCPA Action of 2018: Elbit Imaging

by Michael Volkov on

No one needs to be reminded about the importance of anti-corruption compliance. For global companies, anti-corruption risks are amongst the top 3 risks identified by corporate leaders....more

Three Important Points to Remember About Third-Party Risks

by Michael Volkov on

If you want to learn and read about managing third-party risks, you will have no trouble finding articles, white papers, webinars and more available to you on the Internet. And for good reason....more

Third party risk requirements for financial institutions

Finextra spoke with Sylwia Wolos, Head of Enhanced Due Diligence Proposition for Thomson Reuters, to understand third party risk requirements for financial institutions. Risks are ever-changing and emerging in this...more

Cybersecurity in the investment management industry

by Ropes & Gray LLP on

Paulita Pike, Ropes & Gray investment management partner, addresses privacy and cybersecurity challenges facing the investment management industry. ---------- Cybersecurity and data privacy are important topics for...more

Day 31 of 31 Days to a More Effective Compliance Program-Levels of Due Diligence

by Thomas Fox on

I hope you have enjoyed this 31-day series on how to design, create and implement a best practices compliance program. These blog posts and podcasts over the past 13 months will form the basis of my next book The Complete...more

Cybersecurity and Third-Party Risks

by Michael Volkov on

Global companies are getting compliance overload, especially when it comes to third party risks. As we have seen over the years, third-party risk management involves significant risks on anti-corruption, AML, fraud,...more

What Level of Due Diligence Should You Perform

by Thomas Fox on

Today, I want to take a deep dive and exploration of the levels of due diligence. Due diligence is generally recognized in three levels: Level I, Level II and Level III. Each level is appropriate for a different level of...more

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

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

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