Archives: Compliance Program

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SEC Expands Jurisdiction to Sanctions Violations

The Securities and Exchange Commission (“SEC”) recently penalized a public company for violating U.S. economic sanctions. The violation cited the “books and records” and “internal controls” provisions of Securities Exchange Act of 1934 (the “Exchange Act”). With this unprecedented action, the SEC has put companies on notice that the Department of Justice (the “DOJ”) and … Continue Reading

Antitrust Division Acts to Reward Corporate Compliance

The Antitrust Division of the Department of Justice (“Division”) now considers a company’s compliance program at the charging and sentencing stages in a criminal antitrust investigation.  The Division incorporated these changes into the Justice Manual. The Division also published a guide for evaluating compliance programs under this new approach.… Continue Reading

Russian Duma Revisits Criminalization as Counter-sanction

Russian Duma Revisits Criminalization as Counter-sanction The Russian Duma is considering a bill that would prohibit media communications that reveal non-compliance with sanctions or facilitate imposition of sanctions and would also impose criminal penalties on those that disclose or transfer information to organizations “directly or indirectly” under the control of an “unfriendly state”, any company … Continue Reading

OFAC Compliance Guidelines

Five months after Sigal Mandelker, Under Secretary of the US Treasury for Terrorism and Financial Intelligence, presented five of the hallmarks of an effective sanctions compliance program, the Office of Foreign Assets Control (OFAC) has finally published long-awaited guidance for national and international organizations subject to its regulation (the Framework). OFAC is the organization responsible for administering and enforcing US economic … Continue Reading

New DOJ Guidance on Cooperation in False Claims Act Matters

This week, the Civil Division of the U.S. Department of Justice released guidelines on cooperation credit in False Claims Act cases. The guidelines strongly emphasize voluntary disclosure, but also provide insight into other actions that could give rise to cooperation credit.… Continue Reading

Anti-Corruption Guidance in Russia: What’s a Company to Do?

Anti-corruption has been a hot topic in Russia for some time. But recently, the Russian government has begun to take creative approaches in the fight against corruption. These initiatives are aimed at raising public awareness of corruption among the general public. What appears to be missing in this outreach is compliance guidance to companies in … Continue Reading

DOJ Updates Guidance for Corporate Compliance Programs

The U.S. Department of Justice (DOJ) announced an update to its earlier guidance on how the DOJ will evaluate the effectiveness of a company’s corporate compliance program. The updated compliance guideline (“Updated Guidance”) is twice the length of the original, and utilizes a more instructive approach, serving as a roadmap to prosecutors, and prudent companies. Although … Continue Reading

Does C Plea Mean Corporate Plea?

Many conclude that a C plea means a Corporate Plea. Used infrequently, a C plea restricts discretion of a federal district judge to sentence a criminal defendant. By expressing his concerns about a proposed C plea for a company, one federal judge changed the result. In an article published by the American Health Lawyers Association, … Continue Reading

Does DOJ Approve Of Your Messaging App?

The Department of Justice released new Enforcement Policy for the Foreign Corrupt Practices Act (FCPA). The revisions include a new provision that many believe impairs the use of instant messaging software and other third-party messaging apps by employees. In order to receive a declination and full credit for cooperating with investigators under the Enforcement Policy, U.S. companies … Continue Reading

A Lesson: Follow Through With Encryption Plan

Even the best laid plan for data security requires follow through. A cancer center was penalized $4.3 million by the government for failing to complete its encryption plan for devices.  The decision is instructive even for companies not specifically required to protect data under government regulation. Tom Zeno and Elliot Golding of Squire Patton Boggs discuss … Continue Reading

2018 – Problem and Promise of Cryptocompliance in America

Having looked comparatively at the approaches of certain authorities around the world to addressing and mitigating the risks associated with cryptocurrencies, our attentions now turn to the emerging position of regulators in the U.S., which is often considered the world’s second-largest cryptocurrency market. In the first two parts of this three-part post, we examined “cryptocompliance” … Continue Reading

2018 – Problem and Promise of Cryptocompliance in Europe

  In the first part of this three-part post, we examined “cryptocompliance” as an emerging focus of various Asian regulators, click here. Next, we analyze European (and intergovernmental) attitudes. As will become clear, there is perhaps a healthy blend on display between “cryptocaution” and “cryptofriendliness.” Countries such as the UK and France are making an effort … Continue Reading

How to Use Data Mining for Compliance

Government uses data mining to select targets for enforcement actions. Your company can use data mining for compliance. Hear tips and insights in an eleven minute podcast in “Compliance Perspectives,” from the Society of Corporate Compliance and Ethics (SCCE).  SCCE is a member-based association providing education and news updates for ethics and compliance professionals. To listen to the podcast, click here.… Continue Reading

Criminal Finances Act 2017 – New Corporate Offences of Failing to Prevent Facilitation of Tax Evasion

The United Kingdom’s National Risk Assessment of money laundering and terrorist financing in October 2015 identified three priority risks faced by the UK and concluded that a more robust enforcement response is required. These changes were to be underpinned by a partnership between the government and the private sector to effect a significant change in … Continue Reading

Changes to Whistleblowing Regulation under French Data Protection Law

In June 2017 the French data protection authority, the CNIL, published a revised norm for reporting systems ( “AU-004”) that will permit the implementation of the changes recently  introduced by the new French Anti-corruption Law “Sapin II” (as set out in our previous article “New French Anti-corruption Law Sapin II”). To read more about the change … Continue Reading

Summary of U.S. Department of Justice’s Guidance, “Evaluation of Corporate Compliance Programs”

Summary of Compliance Guideline The Criminal Division’s Fraud Section of the U.S. Department of Justice (the “DOJ”) has released guidance on how the DOJ will determine the effectiveness of a company’s corporate compliance program.  The guidance, entitled Evaluation of Corporate Compliance Programs[1] (the “Compliance Guideline”), provides examples of topics and sample questions that are frequently … Continue Reading

Major Changes on Whistleblowing in France

From January 1, 2018, there will be an obligation on almost all employers to implement reporting/whistleblowing schemes. France has historically been very reluctant to support workplace whistleblowing, especially anonymously. Whistleblowing schemes were effectively only authorized in 2005 to permit US companies to comply with their SOX obligations. Those regulations were very restrictive, limited to employees … Continue Reading

New French Anti-corruption Law “Sapin II”

At the end of 2016, after having undergone the scrutiny of the French constitutional court, French Law n° 2016-1691 of 9 December 2016, also known as “Sapin II” after the Finance and Economy Minister behind it, was finally enacted. It will, amongst other things, strengthen French anti-corruption regulations and has been hailed as a “game-changer”. … Continue Reading

Law 1778, Colombia’s Latest Attempt at Bringing its Anti-bribery Laws into Compliance with the OECD Anti-bribery Convention

Since being elected in 2010, Colombian President Juan Manuel Santos has been trying to have Colombia become a member of the Organization for Economic Co-operation and Development (OECD). As part of this endeavor, in January 2011, Colombia formally applied to become a participant of the Working Group on Bribery in International Business Transactions (the “Working … Continue Reading

The Act on Fighting Corruption in the Healthcare Sector

On 29 July 2015, the German government introduced a legislative initiative with the aim of fighting corruption in the healthcare sector. On 4 June 2016, the German Act on Fighting Corruption in the Healthcare Sector (Gesetz zur Bekämpfung der Korruption im Gesundheitswesen – Act) entered into effect under which the criminal offences of taking and … Continue Reading

DOJ’s Criminal Division Launches new FCPA Pilot Program

In an effort to enhance its ability to investigate and prosecute Foreign Corrupt Practices Act (FCPA) cases, the Department of Justice’s (DOJ) Criminal Division has launched a new one-year FCPA pilot program effective April 5, 2016. The program has three main goals: Motivate companies to voluntarily self-disclose FCPA-related misconduct Motivate companies to fully cooperate with … Continue Reading

Deferred Prosecution Agreements: The Sign of Things to Come?

In a landmark decision, the first Deferred Prosecution Agreement (“DPA”) was approved  on Monday at the Royal Courts of Justice, by Lord Justice Leveson.  The DPA was introduced as a means of alternative disposal following a criminal investigation into a corporate organisation back in February 2014, under the Crime and Courts Act 2013[1]. It is … Continue Reading

UK Government makes U-turn on the reform of corporate criminal liability

In September 2014, the new Attorney General, Jeremy Wright, revealed that the government was considering introducing a new offence of corporate failure to prevent economic crime, such as fraud and money laundering, similar to the corporate offence in the UK Bribery Act 2010 of an organisation failing to prevent bribery. In its UK Anti-Corruption Plan, … Continue Reading
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