The award-winning, Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject. In this episode, we consider the ABB Foreign Corrupt Practices Act resolution. We deep dive into the case and ask three key questions: (1) How did ABB obtain such a superior resolution? (2) As a three-time FCPA violator, how did the company avoid a monitor? (3) Why was there no requirement for Chief Compliance Officer (CCO) certification?
Some of the highlights included:
- The background facts.
- The corrupt supplier’s ABB used to facilitate their bribery and corruption.
- The convoluted self-disclosure in this matter. (Should they have used Twitter with the notation #committedbribery?)
- What constituted extraordinary cooperation during the pendency of the investigation?
- What are the implications of real-time sharing during an investigation?
- What were the steps which demonstrated the exception remediation?
- A root cause analysis is a basic Hallmark of an effective compliance program. Why was it separately called out?
- Did the DOJ change its policy from mandatory CCO certification to discretionary?
Resources
Tom has a five-part series in the FCPA Compliance and Ethics Blog
Matt Kelly in Radical Compliance
