Matteson Ellis reviews what Wal-Mart should have done to avoid FCPA violations in Mexico, arguing that while meeting the U.S. compliance standards is not easy, it can be done.
Alien Tort Statute and Torture Victim Protection Act Year-in-Review
Clifford Chance US LLP has published an ATS and TVPA 2011 Year-in-Review, which provides a summary and analysis of significant ATS and TVPA decisions in 2011, as well as the related topic of instituting human rights due diligence programs to mitigate risk. Stephen Nickelburg and Erin Louise Palmer review the highlights of the report.
Olympus Redux: Lessons Learned When Investigating A Foreign Business Partner
There are times when facts that arise out of noncompliance matters can make excellent learning points for the compliance practitioner. The Olympus matter has become such a staple of teaching opportunities.
Compliance nuts and bolts expert Thomas Fox reviews the primary lessons learned from the company’s current situation, but then explores other things compliance professionals should take note of — particularly when it involves a foreign business partner.
Security Gaps in Board Communications
New findings indicate that boards are often struggling to secure critical company information amidst rising responsibilities and geographically dispersed board members juggling multiple directorships and frequently international travel. Consequently, there is a strong suggestion that corporate policies and practices for managing board documents and communications may not be keeping pace with requirements for security and compliance.
Thomson Reuters Governance, Risk & Compliance president David Craig discusses the current state of information security at the board level as well as suggests solutions to minimize the risk of leaking sensitive data.
U.S. Anti-Boycott Laws Reach To China
A recent anti-boycott investigation of the Shanghai branch of a major U.S. bank serves as an alert to branches and subsidiaries of U.S. companies located in China. Foreign branches of U.S. banks may be unaware that complying with boycotts that are not sanctioned by the United States may violate U.S. law. Such unsanctioned boycotts not only include the Arab League boycott of Israel, but may also include boycotts of Taiwan and Japan.
Clifford Chance’s Wendy Wysong, along with Erica Dillon, explores what happened with the Shanghai bank and reviews anti-boycott requests that violate the EAR.
Haiti Teleco Case Sees FCPA Record-Setting 15-Year Sentence
Yesterday, in the Southern District of Florida–a district quickly earning the distinction of handing out the toughest FCPA sentences in the country–Judge Jose Martinez sentenced Joel Esquenazi to a record-setting 15 years and co-defendant Carlos Rodriguez to seven years. The previous record for an FCPA sentence was in April 2010 when Charles Jumet was sentenced to a then-record 7.25 years. FCPA professor Mike Koehler provides an analysis of the sentence.
Watts Water: Don’t Get Caught on the (FCPA) Slow Boat to China
Last week, the Securities and Exchange Commission instituted a cease and desist order again Watts Water Technologies Inc. and one of its employees, Leesen Chang.
Compliance nuts and bolts expert Thomas Fox examines the FCPA violations and goes over the lessons learned from the this event.
Anti-Corruption Compliance Program Benchmarking Survey Indicates More Real-time Monitoring Among Other Things
Jeff Kaplan reviews the noteworthy results from a benchmarking survey completed last week with more than 100 companies participating in the survey. Among other things, more than half of the respondents instituted requirements for anti-corruption monitoring, an encouraging step sign since that is key to any effective corporate compliance program.
“Do You Know How Many People Would Like To Have Your Job?”
“Do you know how many people would like to have your job?” is a pervasive phrase today that reflects a callous attitude of managers. Saying the phrase raises two risks that Global Compliance’s Steve Priest explores, one of which is illustrated by a recent turn of events at an Amazon warehouse.
The Day The Music Died: The Lacey Act and Compliance Convergence
September 13, 2011 by 2 Comments
Most people will recognize the name of Gibson Guitar Corp., one of the most widely known makers of guitars in the United States. Unfortunately the company was recently raided by the U.S. Fish and Wildlife Service for a failure in the compliance arena. However, it was not for a violation of the Foreign Corrupt Practices Act (FCPA), U.K. Bribery Act, OFAC or other more widely recognized anti-corruption statutes.
Gibson Guitar was raided through an investigation regarding alleged violations of the Lacey Act. Thomas Fox walks through the allegations and discusses how a company manages a variety of risks like the ones Gibson faces.
