Posts Tagged: Effective Compliance Program
How far is it feasible to apply a global compliance policy in widely differing regional markets? And to what extent should there be local policy exceptions?
In Control Risks’ 2017 International Business Attitudes to Compliance survey, a majority of respondents (55 percent) say that their global compliance policy applies worldwide, without any local exceptions.… Continue Reading
Nearly 100 percent of the FCPA Blog’s readers have experienced traveling in a car when it broke down. But how many have experienced a commercial airplane breakdown while in flight? Almost zero percent.… Continue Reading
In the frenzy of upsizing, downsizing and rightsizing compliance programs after downturns in the market or in the midst or aftermath of a major investigation, it’s important to keep in mind that experienced lawyers and compliance professionals bring significant value to a company.… Continue Reading
The Justice Department’s new guidance about how it will evaluate corporate compliance programs takes the form of questions its prosecutors would typically ask about a corporate compliance program during an investigation.… Continue Reading
Let’s start this discussion with: Know the business.
In addition to knowing their regulatory-reporting obligations, compliance officers should understand what their managers do, what products and services their company offers and the systems that sustain these products and services.… Continue Reading
The DOJ Fraud Section’s recently released FCPA Enforcement Plan and Guidance outlines a novel one-year pilot program for corporate self-reporting and cooperation, with specific fine reduction incentives.
“Appropriate remediation” is one of the pre-requisites for qualifying for these incentives, focused largely on compliance program characteristics and other preventive measures.… Continue Reading
Assistant Attorney General Leslie Caldwell announced a one-year pilot program Tuesday intended to encourage companies to self report FCPA offenses and cooperate with the Justice Department.… Continue Reading
The DOJ and SEC haven’t used the word “scalable” to describe an effective compliance program. But they’ve described scalability when talking about what’s needed.
For example, part of the job of the DOJ’s new compliance counsel is to help “assess a company’s program, as well as test the validity of its claims about its program, such as whether the compliance program truly is thoughtfully designed and sufficiently resourced to address the company’s compliance risks.”… Continue Reading
It was a relief to read in a recent post on the FCPA Blog that compliance officers aren’t crazy, but are in a tough job, always caught between flawed human nature and meeting the ideals of effective management and business integrity.… Continue Reading
Last week BNY Mellon agreed to pay the SEC $14.8 million to settle charges that it violated the Foreign Corrupt Practices Act by awarding student internships to kids of officials connected with a sovereign wealth fund in the Middle East.… Continue Reading