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Compensation Season 2018

The Harvard Law School Forum on Corporate Governance and Financial Regulation -

Posted by Jeannemarie O’Brien, Adam J. Shapiro, and Andrea K. Wahlquist, Wachtell, Lipton, Rosen & Katz, on Tuesday, January 9, 2018 Editor's Note: Jeannemarie O’Brien, Adam J. Shapiro, and Andrea K. Wahlquist are partners at Wachtell, Lipton, Rosen & Katz. This post is based on a Wachtell Lipton publication by Ms. O’Brien, Mr. Shapiro, Ms. Wahlquist, and David E. Kahan.

Boards of directors and their compensation committees will soon shift attention to the 2018 compensation season. Key considerations in the year ahead include the following:

Tax Cuts and Jobs Act Implications.

The new tax law has significantly altered the compensation design landscape. Notable implications of the new tax law include:

No Performance-Based Exception to §162(m). The new law eliminates the performance-based exception to the $1 million per-executive annual limit on the deductibility of compensation for certain public company executives under §162(m) of the tax code. This change will result in a significant increase in disallowed tax deductions. Nevertheless, we expect that companies will accept this result as a necessary consequence of the competitive marketplace for talent. Ultimately, it remains within the business judgment of the board of directors to set compensation at the levels and in the manner that it determines to be appropriate to attract and retain the executives the board believes will best serve the needs of the corporation.

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Analysis of SEC Ruling on Apple Shareholder Proposal

The Harvard Law School Forum on Corporate Governance and Financial Regulation -

Posted by Arthur H. Kohn, Sandra Flow, and Mary E. Alcock, Cleary Gottlieb Steen & Hamilton LLP, on Tuesday, January 9, 2018 Editor's Note: Arthur H. Kohn and Sandra Flow are partners, and Mary E. Alcock is counsel at Cleary Gottlieb Steen & Hamilton LLP. This post is based on a Cleary Gottlieb publication by Mr. Kohn, Ms. Flow, Ms. Alcock, and Elizabeth K. Bieber. Related research from the Program on Corporate Governance includes Social Responsibility Resolutions by Scott Hirst (discussed on the Forum here).

On November 1 2017, the Securities and Exchange Commission (“SEC”) released guidance (Staff Legal Bulletin No. 14I (“SLB 14I”)) clarifying the scope and application of the ordinary business and economic relevance grounds for excluding a shareholder proposal under Rule 14a-8 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) from a company’s proxy statement. [1] On November 20, Apple Inc. became the first corporation to attempt to use this guidance in a request for no-action relief from the staff of the SEC’s Division of Corporation Finance (the “Staff”), in response to governance activist Jing Zhou’s proposal that Apple create a board committee focused on human rights (the “Proposal”). On December 21, 2017, the Staff responded, denying Apple’s request to exclude the Proposal from its proxy materials.

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Managing the Family Firm: Evidence from CEOs at Work

The Harvard Law School Forum on Corporate Governance and Financial Regulation -

Posted by Andrea Prat (Columbia University), on Tuesday, January 9, 2018 Editor's Note: Andrea Prat is Richard Paul Richman Professor of Business at Columbia Business School and Professor of Economics at Columbia University. This post is based on a recent paper by Professor Prat; Oriana Bandiera, Professor of Economics at the London School of Economics; Renata Lemos, Economist at the World Bank and Research Associate at the London School of Economics; and Raffaella Sadun, Thomas S. Murphy Associate Professor of Business Administration at Harvard Business School. Family Firms: An Obstacle to Growth? 

Family firms are often seen as an engine of growth. For instance, the exceptional economic success of many European countries in the post-War period was characterized by the wide presence of family firms across the Continent. Particularly in countries like Germany and Italy, family ownership came to be seen as the best guarantee of economic and social development. However, the consensus that family firms are good for growth has come under scrutiny in recent years.

An emerging body of evidence indicates that family management is actually detrimental for performance. Exploiting a remarkable natural experiment, Bennedsen et al (2007) estimate a 4% profitability loss for Danish firms due to having a family manager rather than a professional one. Lippi and Schivardi (2014) find that family firms have worse executive selection (because they prefer to hire a less qualified family manager rather than an external professional manager) and this accounts for a 6% productivity loss as compared to conglomerate-owned firms. Given the magnitude of the estimated effect, family ownership might be a serious obstacle to productivity growth in Europe.

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Interview with Curt Crum, President of the Coalition of Law Enforcement and Retail

Loss Prevention Media -

Curt Crum is a CID special services manager for the Boise Police Department, where he has spent his entire career. Crum also serves as the president of the board for the Coalition of Law Enforcement and Retail (CLEAR), a nonprofit association emphasizing partnerships among public and private-sector members with the goal of improving community safety and advancing the security and protection industries.

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In the latest issue of LPM Online, Crum speaks with Executive Editor Jim Lee about real concerns surrounding the issue of organized retail crime (ORC) and why law enforcement-loss prevention partnerships are vital in addressing criminal activity. From the article:

Organized retail crime is a community concern, and we need to work together. The organized retail crime associations create that hub of the wheel. You’ve got one central location where people are putting together information for the benefit of all. Once you put information into the system, it puts out an email to everyone tied to the ORCA in real time. Because these same groups will hit many different retailers, we’re often able to consolidate data and build a bank of details that really helps nail down critical information on those involved. It allows us to start connecting the dots.

Having that hub—that repository of information in one central location—it really helps to bring investigations together. There’s a tremendous amount of value that this brings for everyone, for both law enforcement and our loss prevention partners.

Learn more about Crum’s professional journey and his lessons learned when it comes to the development of these working partnerships in “Organized Retail Crime is a Community Concern.”

If you’ve missed any of our previous LPM Online editions, go to the Archives page at the end of the edition to see what you’ve missed. Be sure to be an LPM digital subscriber so you are the first to know when new issues are available. If you haven’t already, sign up on the SUBSCRIBE NOW link. (Note: if you’re already subscribed, the previous link will take you to the current issue of the print magazine.)

The post Interview with Curt Crum, President of the Coalition of Law Enforcement and Retail appeared first on LPM.

BRINK’s Top 5 Societal Risk Stories of 2017

BRINK News -

Business leaders must have a firm grasp of dynamic social trends and shifts that intersect with risk management. All too often, however, organizations fail to anticipate changes, and they are forced to take a reactive—instead of a proactive—stance.

Societal risk took many forms in 2017. Many nations faced the challenges of a “longevity boom,” as citizens grow older but increasingly lack a financial safety net. Modern globalized societies wrestled with the increasing implications of populism. The conversation about gender equity expanded because of #MeToo and other movements. And workers faced the looming threat of automation and AI.

Here are the five top stories about societal risk that captured the attention of BRINK readers in the past year.

Is It Time to Retire Retirement or Just Redefine It?

As poverty falls and wealth expands, life expectancy has increased, bringing with it implications for work-life trends. Still, a growing class of citizens may find itself in dire financial straits. The financial system simply hasn’t been developed to accommodate the growing population of older citizens.

It falls to leadership to help promote financial security in these aging-boom times, writes Julio Portalatin, president and CEO of Mercer.

Organizations face real risk to employee productivity and engagement as a result of this financial unpreparedness. For example, in the U.S., people spend about 150 hours a year on average worrying about money. In addition, the broad shift to defined-contribution retirement plans is putting greater pressure on employees to ensure they save enough.

Societal risk in 2017 stemmed from populism, extreme weather, longevity, automation and more.

In fact, one World Economic Forum study calculated that the gap between aggregate savings and expected annual retirement needs for eight of the largest nations is expected to expand to $400 trillion by 2050—from a comparatively paltry $70 trillion today.

This is the time that organizations need to stay fully involved with employee health care, professional development and financial security, writes Mr. Portalatin.

Are Robots ‘Stealing’ Productivity from Humans?

The good news: Automation is creating factory work for humans, not just destroying it. And working in today’s auto factory is safer and more engaging than ever. The bad news: The U.S. can’t find the right humans for all this new work.

In our interview with Ron Harbour, senior partner of Global Automotive Manufacturing at Oliver Wyman, Mr. Harbour outlines why he thinks blaming automation on a loss of jobs and productivity is “a simplistic answer.”

“The biggest transformation in factories in my 35 years hasn’t been automation—it’s been in the way we work,” says Mr. Harbour. “People have been more involved in the process. They’ve been given more authority and accountability to run the floor themselves. The supervisors become coaches and trainers and not firefighters.”

Living Quality in the World’s Cities: The Infrastructure Advantage

One of the key factors employers consider when assessing cities for future workforce location is city infrastructure. In 2017, Mercer introduced infrastructure as a separate factor for evaluation in its 19th annual Quality of Living Survey.

Easy access to transportation, reliable electricity, and drinkable water are all important considerations—and cities and urban planners, as well as employers and multinational organizations, are paying much closer attention to how particular cities stack up against the competition. Singapore, for example, tops the Quality of Living Survey’s city infrastructure ranking, followed by Frankfurt and Munich, both in 2nd place.

The success of foreign assignments is influenced by issues such as ease of travel and communication, sanitation standards, personal safety, and access to public services—in addition to such factors as the quality of educational systems for expatriates’ children and other cultural touchstones, writes Ilya Bonic, senior partner and president of Career Business for Mercer. Multinational companies rely on such information to help calculate fair and consistent expatriate compensation—a real challenge in locations with a compromised quality of living.

Is UK Fresh Food Rationing the Tip of the ‘Iceberg’?

When the World Economic Forum published its annual Global Risk Report for 2017, the highest-ranking item on its list of most likely risks is extreme weather—which could significantly impact people’s access to fresh food. In fact, in February of 2017, major supermarkets in the UK introduced rationing on certain fresh vegetables in response to cold weather in Spain, Italy, and Greece hampering food production, according to The Guardian.

In his piece, Nick Harrison, a partner and co-head of the European Retail Practice at Oliver Wyman, outlines how kale provides an interesting template for adapting to this kind of risk.

“A decade or more ago, kale (curly or otherwise) was an unpopular and underused vegetable, mostly used for animal fodder. But for years now it has now been a staple in juice diets, quiche recipes and is regularly praised by celebrities,” writes Mr. Harrison. “This reinvention of kale should be a template for supermarkets to drive the transformation for other historically unpopular but locally-grown, hardy vegetables with long growing seasons.”

Populism is Poison; Plural Cities are the Antidote

2017 saw the evolution and continued advancement of the populist tendencies that animated the tremendous upheavals of 2016.

“Global anxiety is feeding the growth of nationalist movements, emboldened by the drumbeat of populism,” write Misha Glenny, a writer and broadcaster, and Robert Muggah, the research director of the Igarapé Institute. “Anti-immigrant and anti-establishment parties are capitalizing on public disquiet, gaining footholds in political systems across the planet. But as alarming as all this sounds, there are opportunities to head off potential disaster.”

It’s a warning that is relevant as ever—but Mr. Glenny and Mr. Muggah offer a solution. Plural cities, which are “constructing a positive, inclusive and plural vision of the future,” can be the antidote to nativist fears stoked by populist leaders across the world. The development of these kinds of cities, then, must become a priority.

Responding to Investigative Findings

FCPA Compliance & Ethics -

Most companies understand a the need for an investigative protocol or bringing in experienced investigative counsel should a substantive Foreign Corrupt Practices Act (FCPA) allegation arise. However what is not as well known is is your obligations to respond to investigative findings. The DOJ Evaluation of Corporate Compliance Programs (Evaluation) focuses on this question in [...]

The post Responding to Investigative Findings appeared first on Compliance Report.

Five Major Compliance Predictions for 2018

Corruption, Crime & Compliance Blog -

When you look back on the rise of the ethics and compliance profession, you cannot ignore the history of accomplishments.  It is easy to minimize these accomplishments as a reaction to the government’s aggressive FCPA enforcement program.

Companies are starting to embrace ethics and compliance as a positive force to build sustainable financial growth – which is the true calling of a robust ethics and compliance program.  I could easily build a positive posting on this trend and call it a day.  But that is not the real story, and my predictions will outline some significant concerns in this new world of ethics and compliance.

So, here are my five significant predictions:

Ethical Culture is the Key:  Forward-thinking companies recognize that an ethical culture is the best control that a company can implement.  The problem is that the number of forward-thinking companies continues to be relatively small in comparison to the number of companies that ignore this obvious truism – ethical companies make more money and better perform than non-ethical companies.

Luckily, the compliance profession is beating the drum to focus companies on ethical culture.  Chief compliance officers know that pushing ethics is an important means to promote an overall ethics and compliance program.  CCOs are quickly embracing the need for focusing resources and time on a company’s culture.

Watch Out Corporate Boards:  In this era of growing activism challenging corporate boards and senior executives, corporate boards will face increasing challenges to their corporate governance performance, and specifically, their oversight and monitoring of corporate ethics and compliance programs.  As the compliance profession matures, it is inevitable that corporate activists will use ethics and compliance deficiencies as one of several weapons against entrenched corporate boards.

Company boards set the tone of a company and its ethical culture.  If a board ignores the issue, the company inevitable suffers; when the board engages on the issue, the CEO, senior executives and the company benefit.  Corporate boards have been shirking their duties in this area, relying on outdated and defensive corporate governance models, all designed to escape so-called litigation risks.

Ethics and Compliance Resources:  I have written frequently about corporate failures to adequately fund and staff ethics and compliance programs.  It is one thing to make a paper commitment to ethics and compliance, and it is quite another to allocate the resources needed to operate an effective ethics and compliance program.  Too often, I learn about ethics and compliance programs that are short-staffed, under-resourced, and relying on outmoded technology or even paper systems.  To put it mildly, this is unacceptable and an obvious shortcoming across the ethics and compliance industry.

Testing and Auditing Compliance Programs: Companies that have invested in their ethics and compliance programs are increasing their efforts to test, assess and audit their compliance programs. It is an important step in the evolution of a corporate compliance program – corporate leaders and the CCO need to learn how the company’s ethics and compliance program are performing.  A company cannot develop an effective program that continuously improves unless it implements a sophisticated testing protocol.

Auditing Third-Party Agents and Distributors: The Justice Department and the SEC have pushed companies to include robust auditing provisions in their contracts with third party agents and distributors.  Many companies have implemented such contractual provisions in the normal course of business.  However, only a few companies have implemented risk-based auditing programs built on exercising their audit rights to review third-party agents and distributors.  As a consequence, companies need to reassess this area and are likely to increase the number of proactive high-risk audits.

The post Five Major Compliance Predictions for 2018 appeared first on Corruption, Crime & Compliance.

Whistleblower Risks at the Supreme Court

The Network Inc. GRC Blog -

Later this year, the Supreme Court will rule on whether whistleblower protections under the Dodd-Frank Act apply only to people who report misconduct to the Securities and Exchange Commission. That is, people who report misconduct internally would not be protected from retaliation. Compliance officers should prepare themselves. The implications of this decision could be profound.

Whistleblower Risks at the Supreme Court

Ethics & Compliance Matters™ by NAVEX Global -

Later this year, the Supreme Court will rule on whether whistleblower protections under the Dodd-Frank Act apply only to people who report misconduct to the Securities and Exchange Commission. That is, people who report misconduct internally would not be protected from retaliation. Compliance officers should prepare themselves. The implications of this decision could be profound.

Liz Bilodeau on Preventing Copyright Violations [Podcast]

The Compliance & Ethics Blog -

By Adam Turteltaub adam.turteltaub@corporatecompliance.org Cats riding Roomba’s make YouTube great, and people love to share the links.  And sometimes employees want to put videos of these felines and other snippets in their presentations, or maybe an apt clip from a TV show, not to mention that great cartoon from The New Yorker. Problem is that […]

P&C Composite Rate Up 2% in Fourth Quarter

Risk Management Monitor -

Rate adjustments for property and casualty insurance in the United States for fourth quarter 2017 were plus 2% compared to plus 1% in the third quarter of 2017, with automobile and transportation seeing the largest increases, MarketScout reported.

Richard Kerr, MarketScout CEO commented that insurers were prepared for their losses. “Underwriters are rarely surprised by aggregate losses because they have so many pricing and modeling tools. Most insurers are assessing rate increases at a moderate pace. Automobile and transportation accounts incurred the largest rate increases at plus 5% over prior year pricing.”

In the reinsurance sector, William Hawkins, director of European insurance research at KBW made a similar observation of P&C Jan. 1, 2018 renewal pricing, stating in a podcast that, “the big four European reinsurers will have achieved 2% rate increases this [renewal] season.” He added that “the message from Monte Carlo, that the 2H 2017 natural catastrophes should draw a line under rate cuts across the board, has been delivered. But we think the upside for property catastrophe has been capped by the ongoing plentiful supply of capital.”

By coverage classification, MarketScount noted that all coverages except D&O, professional liability and auto had rate increases from the third quarter of 2017 to fourth quarter 2017. Property increased the most, from plus 1% to plus 3%.
On average, underwriters assessed rate increases for all industry groups except transportation and public entities. “Keep in mind, rates are calculated on a composite basis and represent exposures from businesses across the U.S. Insureds in catastrophe exposed areas incurred higher rates/premiums,” Kerr said.
MarketScout also noted that large accounts were seeing increases averaging 1%, while others saw 2% increases.

Breaking News in the Industry: January 8, 2018

Loss Prevention Media -

Florida man gets 34 months for credit card fraud in Maine

A Florida man has been sentenced to nearly three years in prison for committing credit card fraud in Maine. Juan Carlos Febles, 52, of Miami Gardens, Florida, was sentenced Wednesday to 34 months in prison by US District Court Chief Judge Nancy Torresen. Febles was also sentenced to three years of supervised release on the charges he faced, conspiracy to commit access device fraud and aggravated identity theft. Febles pleaded guilty in August. According to court records, Febles and three others used stolen credit and debit card numbers to purchase merchandise while in Florida and then, in June 2016, they traveled to Maine where they purchased items at a Portland Walgreens and an Augusta Home Depot store using stolen credit card numbers. A Cumberland County Sheriff’s Office deputy stopped the car with Febles and two other men in it, and they were arrested after deputies found merchandise, fraudulent credit cards and a laptop computer containing more credit card numbers. Another man charged in connection with the incidents, Yaisder Herrera Gargallo, was sentenced in November to 40 months in prison and three years of supervised release. Two others, Jose Castillo Febles and Meylisi Rueda, have pleaded guilty and are awaiting sentencing.  [Source: The Press-Herald]

Employee accused of stealing thousands via fake online orders

A former Abilene, Texas, Walmart employee accused of stealing thousands dollars worth of merchandise by filling fake online orders has been arrested. Juan DeSantos was taken into custody after a search warrant was executed at this home on the 1100 block of N. 13th Street Friday morning and charged with Theft. He was released from the Taylor County Jail after posting bonds totaling $5,500.  During a press conference, Police Chief Stan Standridge says DeSantos, who was employed at both Abilene Walmarts as an online shopping associate, took around $5,000 worth of merchandise from the stores by creating fake online orders, filling them, and taking them to his car. He is accused of stealing iPads and other expensive items.  $2,400 worth of property was recovered from DeSantos’ home during the search warrant execution, according to Chief Standridge.  [Source: Big Country]

Casino employee accused of staging robberies

A Rapid City, Iowa, casino employee has been arrested after police say he staged two robberies at the business. Carlos Guerrero, 28, has been charged with two counts of conspiracy to commit grand theft and one count of grand theft. Guerrero called 911 to report a robbery on Dec. 26 at the Jackpot Casino Too on North Lacrosse Street. Once investigators arrived to interview him, his story began to fall apart, according to a Rapid City police report.  Guerrero told police that two males entered the business around 11:10 p.m. while he was opening the safe, hit him in the back of the head and made off with around $10,000. But, according to the report, Guerrero didn’t have any marks on the back of his head. In an interview at the casino, Senior Officer Marc Cote asked Guerrero if he could take a look at his cellphone, but before he handed it over he pulled it close to his chest and began rapidly typing, the report said.  “What are you doing?” Cote asked. Guerrero responded that there was a photo in the background that he didn’t want Cote to see. “He clarified and said ‘It’s my wife’s backside,’ ” the report said.  Cote took the phone and as he waited for a detective to arrive at the casino, Guerrero asked him what the punishment was for first-degree robbery. He also told Cote that he had been arrested for robbery in Florida.  Police reviewed security camera footage and concluded that the robbery appeared staged. “Carlos opened the safe when the suspects are halfway there,” the report said. “The suspects walk into the office and move the chair Carlos was sitting in. Carlos did not react. One of the suspects pushed on Carlos’ shoulder and Carlos falls to the ground.”  Detective Trevor Tollman wrote in a separate report about the incident that “it almost appeared as if Carlos waited for them to get well into the casino before actually opening the safe.”  He added that Guerrero, who is 5 feet 8 inches tall and weights 360 pounds, was easily overtaken by two people who were both much smaller.  [Source: Rapid City Journal]

Retailers fight city proposal to require anti-theft systems for shopping carts

Some Milwaukee retailers are pushing back against a city proposal that would require them to install anti-theft systems for their shopping carts or face fines of up to $1,000 per unprotected cart. The proposed ordinance is aimed at reducing blight and the hazards that unattended shopping carts pose to traffic and pedestrians.
The proposal gets it totally backward, retailers say, by threatening to punish them for the actions of criminals. Under this logic, the victim of a car theft could be assessed a fine to help defray the cost to taxpayers relating to the city’s handling of the stolen vehicle,” Brian Bucaro, retail vice president for grocery store operator Piggly Wiggly Midwest, said in a letter to the city opposing the proposed ordinance.  There already is an ordinance on the books relating to shopping carts, but the new proposal adds the requirement for anti-theft systems. “Proposing additional expense and fines against a company that has been the victim of a crime makes absolutely no sense,” said Timothy Hogan, president of Lisbon Foods Inc., which operates the Sentry Foods store at 9210 W. Lisbon Ave. Under the proposal, retailers who do not install anti-theft systems would face a fine of $500 to $1,000 “per unprotected shopping cart” after two “retrievals of abandoned carts” by the city. “The entire concept of this ordinance is backwards thinking with the idea of punishing businesses for the actions of criminals,” Michael Bousis, president of Cermak Fresh Market, said in a letter to city officials. “The blame needs to be placed on people committing crimes, not on businesses providing hundreds of jobs and millions of dollars in tax revenue.”   [Source: Journal Sentinel]

Employee accused of stealing over $14K

Police were called to the Home Depot located at 4550 Verona Road Thursday morning by store loss prevention members for an employee theft case. The associates told police the thefts could amount to more than $14,000 in losses over the past several months. According to the Madison, Wisconsin, Police Department, a store surveillance camera showed the suspect repeatedly taking “smart” home products, like security cameras and thermostats, and putting them in his backpack. Police say the suspect then posted the stolen merchandise for sale on his Facebook page. The suspect, Tremaine Williams, age 33 of Madison, was arrested for felony retail theft and a probation violation.  [Source: NBC15 News]

California garment factories owe workers $1.6M for labor violations

Factories in California owe $1.6 million in back wages and liquidated damages to nearly 1,400 garment industry employees due to violations of the Fair Labor Standards Act (FLSA), according to a press release from the US Department of Labor (DOL). DOL investigations found many employees earned well below the federal minimum wage of $7.25 per hour. Some workers earned as little as $4.27 hourly.  Some employers failed to pay their workers appropriate overtime rates, while falsifying records to cover up the violations.

With a supply chain philosophy of “low cost at all costs,” companies often turn a blind eye to what drives down costs. With euphemisms like “low-cost country sourcing” (LCCS), we acknowledge, yet seemingly ignore, that the reason costs are so low is that the cost of labor is low. While that number on a spreadsheet may be enticing, one needs to look into the eyes of those providing the low cost labor to see the real impact. But as the DOL investigations indicate, one doesn’t have to travel to Asia or Africa to see the pressure to keep labor costs down. While these investigations focus on criminal activities associated with money laundering and other criminal action, the cases of wage theft, violations of labor laws, safety violations and poor employee treatment are just too common.  [Source: Supply Chain DIVE]

 

The post Breaking News in the Industry: January 8, 2018 appeared first on LPM.

California Man Accused of Firing Gun at LP Associate

Loss Prevention Media -

An Oxnard, California, man has been arrested after police say he fired multiple gunshots at a loss prevention associate following an attempted shoplifting at an Oxnard grocery store. On New Year’s Eve, two men entered Vons at 1291 South Victoria Avenue, grabbed two cases of beer and left the store without paying. A loss prevention associate confronted the men and grabbed one of the suspects by his shirt, causing him to drop the stolen beer. The suspect pulled a gun from his waistband and fired at the head of the loss prevention officer, narrowly missing and causing temporary hearing loss. The suspect ran to a nearby vehicle and again shot at the loss prevention associate, missing again. The suspects got away from the scene before police could arrive. Witnesses described the suspect vehicle as a white SUV, possibly a 2005-2011 Chevrolet Trailblazer with out-of-state license plates. The following day, Port Hueneme police officers were dispatched to a fight at the beach on the 500 block of East Surfside Drive. Officers arrived on scene and observed a subject fleeing the scene holding his waistband. During a brief foot pursuit, the suspect threw the handgun. He was eventually apprehended and the handgun was recovered. The suspect was identified as Juan Ayala, 20, of Oxnard.

During the Port Hueneme investigation, police discovered that Ayala had a set of keys to a white Chevrolet Trailblazer with Idaho license plates. Knowing about the previous night’s robbery, Port Hueneme police contacted the Oxnard Police Department’s Violent Crimes Unit. Investigators reviewed surveillance video of the beer theft and identified Ayala and another man as the theft suspects. Ayala was later identified by witnesses as the shooter. Ayala, who was in custody at the Ventura County Jail from the Port Hueneme incident, was contacted by police and now faces charges for robbery and attempted murder. Anyone with additional information about the crimes is asked to contact the Oxnard Police Department at (805) 385-7796. An anonymous tip can be left by calling the violent crimes hotline at (805) 982-7070 or Ventura County Crime Stoppers at (800) 222-8477. You can also submit an anonymous tip by text or email by visiting the Ventura County Crime Stoppers website.  [Source: KEYT3 News]

The post California Man Accused of Firing Gun at LP Associate appeared first on LPM.

Day 8 of 31 Days to a More Effective Compliance Program-Internal Controls and Compliance

FCPA Compliance & Ethics -

What specifically are internal controls in a compliance program? Internal controls are not only the foundation of a company but are also the foundation of any effective anti-corruption compliance program. The starting point is the FCPA itself, requires the following: Section 13(b)(2)(B) of the Exchange Act (15 U.S.C. § 78m(b)(2)(B)), commonly called the “internal controls” [...]

The post Day 8 of 31 Days to a More Effective Compliance Program-Internal Controls and Compliance appeared first on Compliance Report.

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