There are new risks that companies need to be aware of after the criminal prosecution of GlaxoSmithKline’s Laura Stevens. Michael Volkov reviews these.
Under The Electron Microscope: Agencies Take A Closer Look At Nano Tech
The development of manufactured materials at the nano scale (that is less than 1/10,000 of the width of a human hair) has been greeted as a breakthrough in the evolution of technology with vast promises for medicine, energy and building materials to mention just a few areas where exciting improvements are just around the corner. [...]
An Audit Of Internal Audit — Time To Upgrade
Grant Thornton’s Warren Stippich outlines important factors and initiatives needed to advance the internal audit function.
The Key to Achieving Compliance in the Post-Acquisition Context
In a recent article in the Houston Business Journal (HBJ), “Building strong relationships critical to building strong companies,” HBJ mergers and acquisitions columnist Connie Barnaba focused on the nature of trust within a company to posit that “strong businesses are built on strong relationships between the business, its leaders, employees, customers, suppliers, lenders and advisors.” [...]
A Step Towards Closing the IPO Gap for Foreign Private Issuers: The JOBS Act of 2012
One of the purposes of the Jumpstart Our Business Startups Act (JOBS Act) enacted on April 5, 2012, is to increase the attractiveness of the U.S. capital markets for many companies, including foreign private issuers, by creating a so-called “IPO On-Ramp” for issuers that qualify as emerging growth companies (EGCs).
The JOBS Act exempts EGCs from a number of regulatory requirements and reduces several of their ongoing compliance obligations. Orrick’s Michael Tu reviews the changes that are most relevant to foreign issuers.
What Will Be Wal-Mart’s Effect On FCPA Reform?
A hot topic of late is what impact Wal-Mart’s FCPA scrutiny will have on FCPA reform efforts. Mike Koehler takes a look at what major players are saying.
Nano Compliance
In the great book of corporate compliance program failures, one of the most important stories is from the Bankers Trust derivatives marketing scandal of the mid-1990s. In that case, the bank was sued by both the government and various counterparties for deceptive practices in selling highly complex derivative instruments.
Given the horrific consequences to Bankers Trust of this lapse, the story calls to mind, “For want of a shoe a nail was lost,” and so on up to the loss of a kingdom. It also suggests a need to “think small” – and to practice “nano compliance.”
China Joins the International Fight against Corruption
China has recently joined most of the western world in passing anti-corruption legislation. Scott Lane, president and chief executive officer (CEO) of the Red Flag Group, talked about this new Chinese anti-corruption legislation, contrasted it with the U.S. Foreign Corrupt Practices Act (FCPA) and U.K. Bribery Act and then raised some key interpretive questions that are yet unanswered.
Ignorance Is Not Bliss: Using D&O Insurance Applications to get to Corporate Compliance
Corporate compliance is nothing new. However, for smaller companies, the process of establishing a corporate compliance program may seem daunting, and keeping it current may seem impossible. We suggest that applications for directors & officers (D&O) insurance are a good place to start.
Raising the Bar: Integrating Internal Controls in a Tough Defense Environment
As part of the Compliance Done Right series that spotlights those corporations and compliance teams and professionals that are doing something right, here is a case study on how BAE Systems integrated internal controls.
