The Chickenshit Club by Jesse Eisinger may mean for the compliance practitioner. We consider the internal journey of the Department of Justice from their days of Enron, WorldCom, and Adelphia convictions to the 2008 financial crisis where no senior executives were prosecuted. A series of steps led to this change, and we discuss the key changes in the DoJ’s thinking. The book is a real page-turner, and our discussion reflects this. We believe that every compliance practitioner should read the book and understand its lessons from DOJ prosecution. Every compliance practitioner should read Eisinger’s book The Chickenshit Club. You can purchase a copy of the book The Chickenshit Club by clicking here.]]>
Tag: DOJ
HSBC v. Moore
In this case, a federal district court had ordered the release of a redacted monitor’s report in the HSBC money-laundering Deferred Prosecution Agreement (DPA) based upon the request of an interested citizen. Both the Department of Justice (DOJ) and HSBC appealed the order, and the Court of Appeals supported their position in overturning the trial court’s decision. The case is about a hook, line, and sinker overturning of any trial court jurisdiction one can have. The district court tried to claim it did not have the same role as a “potted plant,” but the Court of Appeals left no doubt that is the only role it sees for any district court where a DPA is filed. We discuss the implications for the compliance practitioner, FCPA enforcement, and potential future changes. Are district court’s simply potted plants when it comes to DPA oversight?
Categories
This Week in FCPA-Episode 56
[tweet_box design=”default” url=”http://wp.me/p6DnMo-3kx” float=”none”]
When do Mike & Mike agree on anything? Find out on This Week in FCPA. [/tweet_box]
Jay Rosen can be reached:
Mobile (310) 729-6746
Toll Free (866)-201-0903
JRosen@affiliatedmonitors.com
Tom Fox can be reached:
Phone: 832-744-0264
Email: tfox@tfoxlaw.com]]>
This episode is dedicated to the chaotic (at best) first 100 days of the Trump administration related to compliance.
- Jonathan Armstrong leads a discussion of the Trump administration’s devolution of Privacy Shield, GDPR, and what they mean for American companies doing business in the UK and EU. He discusses the key differences in the DOJ’s Evaluation of Corporate Compliance Programs in an FCPA analysis and under the Bribery Act, differences in the EU approach to conflict minerals, and under the Trump Administration, and concludes by giving us his thoughts on what Brexit means for compliance.
For the Cordery Compliance client alerts, see the following:
EU conflicts minerals compliance legislation
DOJ Evaluation of Corporate Compliance: how does it compare to UK Bribery Act 2010?
BREXIT Glossary
- Jay Rosen considers what companies the intersection of business and politics under the Trump administration, the business response he has observed to Trump administrations steps and miss-steps, the comments made by DOJ representatives at Q1 conferences, and the vibe of compliance conference attendees.
For Jay’s posts, see,
Still in the Enforcement Business and Evaluation of Corporate Compliance Programs
“It Was the Best of Times, It was the Worst of Times,” or “Ignorance is Strength”
Matt Kelly opens with a discussion of regulatory enforcement under the Trump administration, how the ‘Trump Effect’ is negatively impacting corporations, and industry responses to deregulation issues and lays down some markers around compliance issues under the new administration.
For Matt Kelly’s posts, see:
Compliance in the Trump Era: More Markers Placed
Trump Administration Whacks Telco Firm for $892 Million
Drone Industry Pan Trump’s Regulatory
Trump Risk Disclosures Start Rolling In
First SEC Whistleblower Award of the Trump Era
Sessions Dodges, Weaves, Promises on FCPA
- Mike Volkov rounds out the discussion with a review of where the DOJ is currently under AG Sessions, remarks by DOJ officials on FCPA enforcement, the future of the Pilot Program, and DOJ Compliance Counsel Hui Chen.
For Mike Volkov’s posts, see the following:
Yates, AG Sessions and Individual Criminal Prosecutions
New E-Book — Moving the Goalposts: The Justice Department Redefines Effective Compliance
FCPA Remediation Focus on Supervisory Personnel
FPCA Pilot Program Motors On
For Tom Fox’s posts on the Trump administration’s first 100 days, see the following:
The Trump Administration-Kaos is Bad for Business
The Trump Administration-Failures in Leadership and Management
The Trump Administration-Preparing for a Catastrophe
The Trump Administration-the Business Response
DOJ Enforcement of the FCPA and the International Fight against Corruption in the Trump Administration
The members of the Everything Compliance panel include:
- Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
- Mike Volkov – One of the top FCPA commentators and practitioners around and the Chief Executive Officer of The Volkov Law Group, LLC. Volkov can be reached at mvolkov@volkovlawgroup.com.
- Matt Kelly – Founder and CEO of Radical Compliance, is the former Editor of Compliance Week. Kelly can be reached at mkelly@radicalcompliance.com
- Jonathan Armstrong – Rounding out the panel is our UK colleague, who is an experienced lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com
[tweet_box design=”default” url=”http://wp.me/p6DnMo-3eF” float=”none”]What has the Trump effect meant for FCPA? The experts weigh in.[/tweet_box]]]>
- Jonathan Armstrong discusses the Trump administration’s devolution of Privacy Shield, GDPR, and what they mean for American companies doing business in the UK and EU. He discusses the key differences in the DOJ’s Evaluation of Corporate Compliance Programs in an FCPA analysis, under the Bribery Act, in the EU approach to conflict minerals, and under the Trump Administration. He concludes by giving us his thoughts on what Brexit means for compliance.
For the Cordery Compliance client, alerts see the following: EU conflicts minerals compliance legislation DOJ Evaluation of Corporate Compliance: how does it compare to UK Bribery Act 2010? BREXIT Glossary
- Jay Rosen considers what companies the intersection of business and politics under the Trump administration, the business response he has observed to Trump administrations steps and miss-steps, the comments made by DOJ representatives at Q1 conferences, and the vibe of compliance conference attendees.
For Jay’s posts, see, Still, in the Enforcement Business and Evaluation of Corporate Compliance Programs “It Was the Best of Times, It was the Worst of Times,” or “Ignorance is Strength” Matt Kelly opens with a discussion of regulatory enforcement; under the Trump administration, how the ‘Trump Effect’ is negatively impacting corporations, industry responses to deregulation issues and lays down some markers around compliance issues under the new administration. For Matt Kelly’s posts, see Compliance in the Trump Era: More Markers Placed Trump Administration Whacks Telco Firm for $892 Million Drone Industry Pan Trump’s Regulatory Trump Risk Disclosures Start Rolling In First SEC Whistleblower Award of Trump Era Sessions Dodges, Weaves, Promises on FCPA.
- Mike Volkov rounds out the discussion with a review of where the DOJ is currently under AG Sessions, remarks by DOJ officials on FCPA enforcement, the future of the Pilot Program, and DOJ Compliance Counsel Hui Chen.
For Mike Volkov’s posts, see the following: Yates, AG Sessions and Individual Criminal Prosecutions New E-Book — Moving the Goalposts: The Justice Department Redefines Effective Compliance FCPA Remediation Focus on Supervisory Personnel FPCA Pilot Program Motors On For Tom Fox’s posts on the Trump administration’s first 100 days see the following: The Trump Administration-Kaos is Bad for Business The Trump Administration-Failures in Leadership and Management The Trump Administration-Preparing for a Catastrophe The Trump Administration-the Business Response DOJ Enforcement of the FCPA and the International Fight against Corruption in the Trump Administration The members of the Everything Compliance panel include:
- Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com.
- Mike Volkov – One of the top FCPA commentators and practitioners and the Chief Executive Officer of The Volkov Law Group, LLC. Volkov can be reached at mvolkov@volkovlawgroup.com.
- Matt Kelly – Founder and CEO of Radical Compliance, is the former Editor of Compliance Week. Kelly can be reached at mkelly@radicalcompliance.com.
- Jonathan Armstrong – Rounding out the panel is our UK colleague, an experienced lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com.
Jay Rosen new contact information:
Jay Rosen, CCEP
Vice President, Business Development
Monitoring Specialist
Affiliated Monitors, Inc.
Mobile (310) 729-6746
Toll Free (866)-201-0903
JRosen@affiliatedmonitors.com
[tweet_box design=”default” url=”http://wp.me/p6DnMo-3aD” float=”none”]How can the use of data help to operationalize your compliance program?[/tweet_box]]]>
In this episode, Matt Kelly and myself take a deep dive into the Department of Justice (DOJ) recent release, entitled “Evaluation of Corporate Compliance Programs” (Evaluation), which went up on the Fraud Section website on February 8.
The document is an 11-part list of questions which encapsulates the DOJ’s most current thinking on what constitutes a best practices compliance program. Within the list are some 46 different questions that a Chief Compliance Officer (CCO) or compliance practitioner can use to benchmark a compliance program. In short, it is an incredibly valuable and most significantly useful resource for every compliance practitioner.
The Evaluation, most generally, follows the DOJ and Securities and Exchange Commission’s (SEC) seminal Ten Hallmarks of an Effective Compliance Program, released in the 2012 FCPA Guidance. If there is one over-riding theme in the Evaluation, it is the DOJ’s emphasis on doing compliance as the questions posed are designed to test how far down your compliance program is incorporated into the fabric of your organization. The Evaluation is not simply a restatement of the Ten Hallmarks, as it clearly incorporates the DOJ’s evolution in what constitutes a best practices compliance program, and it certainly builds upon the information put forward in the DOJ’s FCPA Pilot Program regarding effective compliance programs, most particularly found in Prong 3 Remediation.
[tweet_box design=”default” url=”http://wp.me/p6DnMo-33Q” float=”none”]What does the DOJ Evaluation mean for compliance programs?[/tweet_box]]]>
Show Notes for Episode 38, for the week ending February 3, the M&M edition:
- January a month for the FCPA record books. See article in the FCPA Blog.
- Are hunting trips a FCPA violation? How about in Sweden? See article in by Tom Fox in Compliance Week.
- VW update-what the former CEO knew and when did he know it and CCO ‘departs’. What does it all mean? See Tom Fox articles in Compliance Week on the former CEO and the departure of the CCO.
- New Tom Fox series on One Month to a Better Board, FCPA Compliance Report.
- Everything Compliance-Episode 6 is out. It is dedicated exclusively to Rolls-Royce.
- Jay Rosen Weekend Report preview.
- Super Bowl predictions.
[tweet_box design=”default” url=”http://wp.me/p6DnMo-31q” float=”none”]What were the week’s top FCPA, compliance and ethics stories? Check out This Week in FCPA to find out. [/tweet_box]]]>
Categories
This Week in FCPA-Episode 35
th edition:
- Hernandez and Beech FCPA guilty pleas. Hernandez Criminal Information, Beech Criminal Information.
- VW guilty plea in emissions-testing scandal. Link to article in New York Times.
- VW executive Oliver Schmidt arrested in US. See article on FCPA Compliance and Ethics Blog.
- Zimmer Bio-Met in follow-up FCPA enforcement action. See article on FCPA Blog.
- Mondelez FCPA enforcement action. See SEC Cease and Desist Order and article on FCPA Compliance and Ethics Blog.
- Supreme Court to take up 5 year statute of limitations for profit disgorgement under Securities Act, which applies to FCPA enforcement actions brought by SEC. Article in Law360.
- NFL Playoff update on Patriots, Cowboys and Texans.
[tweet_box design=”default” url=”http://wp.me/p6DnMo-2XB” float=”none”]What were the FCPA matters, issues and lessons from the week ending January 13, 2017? Check out This Week in FCPA.[/tweet_box]]]>
Catc[tweet_box design=”default” url=”http://wp.me/p6DnMo-2Tz” float=”none”]h up on the week’s top FCPA compliance and ethics storylines, events and issues with This Week in FCPA.[/tweet_box]]]>
