FCPA Compliance & Ethics

Tribute to Keith Jackson and Breakthrough Strategies in Compliance

Keith Jackson died last week. He was universally recognized as the Voice of College Football and announced college football games for over 40 years. According to his obituary in the New York Times (NYT), Robert A. Iger, the chief executive of the Walt Disney Company, said of Jackson “For generations of fans, Keith was college [...]

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Compliance into the Weeds-Episode 66, the Salary Penalty for Misconduct

In this episode Matt Kelly and I take a deep dive into a fascinating paper from Harvard Business School. Boris Groysberg and George Serafeim, worked with a global recruitment firm, to study more than 2,000 executive-level job placements from 2004 to 2011, examining a wide range of job placements and pay data since 2004. They [...]

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Day 17 of 31 Days to a More Effective Compliance Program-Managing Your Third Parties

The building blocks of any compliance program lay the foundations for a best practices compliance program. For instance, in the lifecycle management of third parties, most compliance practitioners understand the need for a business justification, questionnaire, due diligence, evaluation and compliance terms and conditions in contracts. However, as many companies mature in their compliance programs, [...]

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Day 16 of 31 Days to a More Effective Compliance Program-the Third-Party Risk Management Process

As every compliance practitioner is well aware, third parties still present the highest risk under the Foreign Corrupt Practices Act (FCPA). The Department of Justice Evaluation of Corporate Compliance Programs devotes an entire prong to third party management. It begins with the following: Risk-Based and Integrated Processes – How has the company’s third-party management process [...]

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Day 15 of 31 Days to a More Effective Compliance Program-How Do You Evaluate a Risk Assessment?

After you complete your risk assessment, you must then translate it into a risk profile, as Rick Messick has noted, to estimate where bribery is likely occur, so prevention efforts will be properly targeted. Ben Locwin explained, in “Quality Risk Assessment and Management Strategies for Biopharmaceutical Companies”, “Once we have assessed risks and determined a process [...]

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FCPA Compliance Report-Episode 366 Jonathan Marks on performing and using a root cause analysis

In this podcast, I visit Jonathan Marks, a partner at Marcum LLP on how to perform a root cause analysis and it uses in the remediation phase of a best practices compliance program. One new and different item was laid out in the Evaluation of Corporate Compliance Program, supplementing the Ten Hallmarks of an Effective Compliance [...]

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Using a Root Cause Analysis

In my last post, I began considering the Prong of the Evaluation of Corporate Compliance Programs (Evaluation) which was not present in the Ten Hallmarks of an Effective Compliance Program, the root cause analysis. This addition was also carried forward as a requirement in the Department of Justice’s (DOJ’s) new FCPA Corporate Enforcement Policy (Policy). [...]

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Day 14 of 31 Days to a More Effective Compliance Program- Risk Assessments

One cannot really say enough about risk assessments in the context of an anti-corruption programs. Since at least 1999, in the Metcalf & Eddy enforcement action, the DOJ has said that risk assessment which measure the likelihood and severity of possible FCPA violations the manner in which you should direct your resources to manage these [...]

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Day 13 of 31 Days to More Effective Compliance Program-The Fair Process Doctrine

The Fair Process Doctrine is a key component of any best practices compliance program. In the Department of Justice’s Evaluation of Corporate Compliance Programs, Prong 8 Incentive and Disciplinary Measures it states: Incentive System – Consistent Application – Have the disciplinary actions and incentives been fairly and consistently applied across the organization? In the FCPA Corporate Enforcement [...]

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Day 12 of 31 Days to a More Effective Compliance Program-Financial Incentives for Compliance

One of the areas that many companies have not paid as much attention to in their compliance programs is compensation. However, the DOJ and SEC have long made clear that they view monetary structure for compensation, rewarding those employees who do business in compliance with their employer’s compliance program, as one of the ways to [...]

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This Week in FCPA- Episode 84, the Playoffs are Here (for the Patriots) edition

In this episode, Jay Rosen and myself take a look at some of the top compliance stories over the past week. Does Free Speech exist at the office? Can you tell your boss what you think of them? Ben DiPietro looks at a new Department of Labor approach in WSJ Risk and Compliance Journal. Are [...]

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The Root Cause Analysis

One new and different item laid out in the Evaluation of Corporate Compliance Program (Evaluation), supplementing the Ten Hallmarks of an Effective Compliance Program from the 2012 FCPA Guidance, was the performance of a root cause analysis for any compliance violation which may led to a self-disclosure or enforcement action. Under Prong 1 Analysis and [...]

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Day 11 of 31 Days to a More Effective Compliance Program-What is Effective Compliance Training?

The communication of your anti-corruption compliance program, both through training and message, is something that must be done on a regular basis to ensure its effectiveness. The FCPA Guidance explains, “Compliance policies cannot work unless effectively communicated throughout a company. Accordingly, DOJ and SEC will evaluate whether a company has taken steps to ensure that relevant policies and procedures [...]

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Across the Board-Episode 12, Prudent Discharge of Board Compliance Obligations

I. Legal Requirements of the Board Regarding Compliance A. Case Law As to the specific role of ‘Best Practices’ in the area of general compliance and ethics, one can look to Delaware corporate law for guidance. The case of In Re Caremark International Inc. was the first case to hold that a Board’s obligation “includes [...]

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How Do You Evaluate a Risk Assessment?

Yesterday we considered how to perform a risk assessment. Today how do you evaluate the information you have developed.  After you complete your risk assessment, you must then translate it into a risk profile, as Rick Messick has noted, to estimate where bribery is likely occur, so prevention efforts will be properly targeted. Ben Locwin explained, [...]

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Day 10 of 31 Days to a More Effective Compliance Program-The Use of Social Media in Compliance

What is the message of compliance inside of a corporation and how it is distributed? In a compliance program, the largest portion of your consumers/customers are your employees. Social media presents some excellent mechanisms to communicate the message of compliance going forward. Many of the applications that we use in our personal communication are free [...]

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Compliance into the Weeds-Episode 65-The Trouble with Non-GAAP Metrics

In this episode Matt Kelly and I take deep dive into the issue of non-GAAP metrics and its implications. We were inspired an article in this quarter’s MIT Sloan Management Review entitled, “The Pitfalls of Non-GAAP Metrics” by H. David Sherman and S. David Young. It is fascinating review of this topic, which as the [...]

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Compliance Report-International Edition, RS Legal Strategies

Today, I visit with Mark Rainsford and Jason Sugarman, principals with RS Legal Strategies which is a pioneering Queen’s Counsel led business in the areas of crime investigations, fraud and legal strategy. Its world-class professionals include leading and junior counsel, a solicitor, a former member of the judiciary and special advisor to the Serious Fraud [...]

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Day 9 of 31 Days to a More Effective Compliance Program-360 Degrees of Compliance Communications

A 360-degree view of compliance is an effort to incorporate your compliance identity into a holistic approach so that compliance is in touch with and visible to your employees at all times. It is about creating a distinctive brand philosophy of compliance which is centered on your consumers. In other words, it helps a compliance [...]

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