Episode 66 -- Gifts and Hospitality Compliance and Best Practices
Day 11 of One Month to More Effective Internal Controls-Internal Controls for Gifts, Travel and Entertainment
FCPA Compliance and Ethics Report-Episode 165-BHP FCPA Enforcement and Lessons Learned for the Compliance Practitioner
If one were to reflect upon the providing of gifts and business entertainment to foreign governmental officials, one might reasonably conclude that after 40 years of the FCPA, companies might follow its prescriptions...more
Companies should identify and, where appropriate, manage risk associated with gifts and entertainment by incorporating a clear policy into their overall corporate compliance strategy. On September 11, 2020, the French...more
Herbalife’s FCPA settlement is another one for books – the wreckage left includes two criminal indictments for Chinese officials who may never be apprehended, along with $123 million in penalties....more
The French anti-gift legal framework was substantially amended by the Ordinance No. 2017-49 dated January 19, 2017. However, these new rules were subject to the adoption of an implementing decree. Their implementation, which...more
- A tone-at-the-top business culture with CEO leadership is a critical component of effective anti-corruption and anti-bribery policy implementation. - CEO leadership helps set an example for lower management and company...more
On July 3, 2020, the U.S. Department of Justice (DOJ) and U.S. Securities and Exchange Commission (SEC) jointly released the second edition of the “Resource Guide to the U.S. Foreign Corrupt Practices Act,” which was...more
Innovation in compliance can come in many forms. One such form was described by Vincent M. Walden, Managing Director at Alvarez and Marsal Holdings, LLC (A&M), in his article entitled “Profit & Loss-of-One”(P&L-of-One). In...more
On December 6, 2019, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) agreed to resolve allegations that multinational telecommunications company Telefonaktiebolaget LM Ericsson (Ericsson or...more
A key analysis is whether there are controls in place to enforce the policies and whether those controls are documented. To help to answer this query, there are four issues to evaluate...more
Ericsson’s FCPA settlement is in the books (not the books and records). But it casts a significant shadow across the FCPA landscape. A pervasive and systemic culture of bribery is defined to reflect senior executive...more
Last week, DOJ announced the indictment of two former Herbalife executives in China for participating in a bribery scheme over a ten-year period. Herbalife, a multi-level marketing company, was not charged and its...more
What have been some of the advancements in compliance this century? One of the key recent innovations has been the role of Artificial Intelligence (AI) in compliance going forward. LawTech had disrupted the legal profession...more
Juniper Networks agreed to pay the SEC $11.7 million to settle FCPA violations for conduct occurring in Russia and China. Under the settlement, Juniper Networks agreed to disgorgement of $4 million, a $6.5 million civil...more
The Microsoft FCPA settlement, while not significant in the total penalty of approximately $25 million, provides some important instructions concerning distributor and re-seller risks and mitigation strategies. ...more
As the old adage provides – better late than never. (Same applies for my somewhat tardy posting on this case). Telefônica Brasil settled FCPA violations with the SEC for a pretty penny — $4.125 million in civil penalties...more
How is the new generation of policy automation management solutions changing the game and solving policy management’s thorniest problems? ...more
This is the third in a series of articles in which members of BCLP’s White Collar team review the recent report of the House of Lords Select Committee’s, entitled “The Bribery Act 2010: post-legislative scrutiny”. Here we...more
Companies have to focus on compliance controls and non-material financial transactions to prevent fraud, bribery and other misuse of corporate funds. One particular risky area is the control of gifts, meals, entertainment,...more
In a number of enforcement contexts, I am always struck by a common theme – crooks are able to obtain access to corporate money for improper purposes. You never hear about a crook who uses his own money to pay bribes or...more
When you read through the United Technologies SEC FCPA enforcement action, you cannot help but shake your head – the level of abuse and participation by senior managers in the UT companies – Pratt & Whitney and Otis Elevator...more
I have finished up my week in Brazil and I wanted to end this week’s Brazil focused blog posts with some final thoughts and observations on the country’s burgeoning compliance scene....more
The first thing to remember about bribery schemes is that the money to fund the bribes must come from somewhere. Deep Throat was right when he told Woodward and Bernstein to ‘follow the money’ during their Watergate...more
The laundry list of companies that have been prosecuted for FCPA violations surrounding gifts, meals, entertainment and travel expenditures is lengthy....more
My challenge on when to write about the Indians winning streak informs today’s blog post, as I consider when you should use ongoing monitoring. Every compliance practitioner recognizes the prevent, find and fix tripartite...more
As the compliance function has matured, Chief Compliance Officers have built important relationships with related functions that are critical to the compliance function. Over the last few years, we have seen the Justice...more