Friday, November 27, 2020

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Top 10 International Anti-Corruption Developments for October 2020

In its monthly overview for busy in-house counsel and compliance professionals, Morrison Foerster summarizes some of the most important international anti-corruption developments from the...

More on Biden, Compliance, and 2021

President-elect Joe Biden’s transition leadership choices signal that the country can expect a “pro-enforcement, pro-shareholder rights, and pro-consumer” team focusing on financial regulatory agencies, with former Obama administration staff working on setting up the Departments of Justice and Labor. With Democratic control of Congress in doubt – and tenuous at best – the Biden administration will […]
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FCPA Can’t Answer All Your Questions

Mike Koehler remarks that the FCPA itself doesn’t provide clear answers about compliance, particularly regarding the internal controls provisions. Rather than being rule-based, standards are often highly subjective, such as “reasonable assurances” that would “would satisfy prudent officials.” Koehler offers a list of questions that compliance professionals often ask, each of which “was formed using […]
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Avoiding “Contextual Compliance” in the Year of COVID and Beyond

Despite 2020 being an unprecedented and challenging year for business, the government has not slowed down its record-breaking enforcement actions. In late October, the U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) announced a $3.3 billion settlement with banking giant Goldman Sachs for violations of the Foreign Corrupt Practices Act (FCPA) — […]
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Training Frequency

Federal FCPA guidance doesn’t say how often an organization should conduct compliance training, or whether the amount positively or negatively impacts an overall training strategy, but it does say that every such program should be “well-designed” and “appropriately tailored” for training and communications. Shawn Rogers, Director Global Ethics and Compliance – Training and Awareness at […]
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Beam Suntory Bribery Scheme: Another Controls Failure (Part II of II)

The Beam Suntory case is yet another example of a failure of internal and external auditors, and legal and compliance professionals.  Reviewing cases involves a focus on how and why a compliance failure occurred.  In many cases, legal, compliance and internal auditors are being shunned, ignored, or subjected to pressure to keep their mouths shut […]
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No Amount of Due Diligence Can Solve This Compliance Problem

Richard Cassin argues that Chinese companies are effectively beyond the reach of U.S. law, and questions whether it’s reasonable to expect them to comply with laws that can’t be enforced. Cassin points to notices from the SEC and the Public Company Accounting Oversight Board acknowledging their rather limited abilities to oversee Chinese companies, and suggesting […]
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Fine Print: A False Claims Act Settlement Does Not Void a Contract

In Regiment Constr. Corp. v. Dep't of Veterans Affairs, the Civilian Board of Contract Appeals (Board) denied the Government’s motion for summary judgment and...

OECD Working Group on Bribery Issues Report Commending United States for Maintaining Leading Role...

The Organisation for Economic Co-operation and Development’s Working Group on Bribery has issued its Phase 4 Report of the United States, as part of its peer monitoring process. The report focuses primarily on U.S. enforcement of its FCPA, and was issued following a year-long review that included a series of interviews with government, private sector, […]
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Envisioning Your Compliance Training Program

Tom Fox talks further with Shawn Rogers, Director Global Ethics and Compliance – Training and Awareness at Walmart, about best practices for a compliance training program. As a first step, Rogers recommends that you envision what your training would look like. “A common mistake is jumping right to the question of which courses you want […]
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