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Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Tom Fox: White collar criminals and their flagrant rationalizations

In one of the most interesting looks at what makes a compliance program tick and why, Todd Haugh, an assistant professor of business law and ethics at Indiana University’s Kelley School of Business, said that even best-practices compliance programs fail to take into account the importance of eliminating rationalizations.… Continue Reading

Former FCPA fugitive sentenced to time served

The former general manager of a Miami-based firm was sentenced this week to time served for his part in a plot to bribe officials at Haiti’s state-owned telecommunications company.

Amadeus Richers, 66, a German citizen living in Brazil, was also placed on supervised released for three years and ordered to pay $100.… Continue Reading

Alere pays $13 million to resolve accounting fraud and FCPA offenses

Massachusetts-based Alere Inc. will pay more than $13 million to settle charges that it bribed foreign officials and committed accounting fraud to meet revenue targets, the SEC said Thursday.

Alere subsidiaries in India and Colombia “obtained or retained business” by using distributors or consultants to make improper payments to officials of government agencies or entities under government control, the SEC said.… Continue Reading

World Bank debars units of Aussie engineer SMEC

The World Bank Thursday said it debarred five subsidiaries of a leading Australia-based engineering firm after the bank found evidence of “inappropriate payments.” 

SMEC International Pty. Ltd., a subsidiary of SMEC Holdings Pty.… Continue Reading

Gary Giampetruzzi: Is Small Pharma next for DOJ enforcement?

For decades, U.S. prosecutors have touted their big victories over big pharma for violations of U.S. laws prohibiting bribery in the U.S. (the federal Anti-Kickback Statute) and abroad (the FCPA). 

After paying tens of billions of dollars in fines and penalties, it appears that big pharma may have received the message and responded by taking compliance seriously and investing in the resources needed to identify and address risk areas.… Continue Reading

Lucas Zanoni: Brazil banks now required to adopt compliance programs

Brazil’s Central Bank issued a rule on compliance policies for financial institutions and credit unions. Resolution Nº 4,595 of August 28, 2017 requires these institutions to adopt compliance programs.

Under the new rule, boards of directors of financial institutions are required to send documentation to the Central Bank and an annual report with the results of activities related to the compliance function.… Continue Reading