One of the risks that require management is losses around trading. This was on painful display last week in the investigations hearings into the JP Morgan trading losses known as the “London Whale.”
Compliance nuts and bolts expert Thomas Fox reviews a conversation between Mark Mendelsohn and GE’s senior vice president and general counsel Brackett Denniston about the current state of FCPA compliance at the Global Ethics Summit.
U.S. Regulation of Exports and International Conduct: Export Controls & Economic Sanctions Compliance
Export control and sanction requirements have been around for years, but now are taking on increasing prominence in the wake of record-setting fines. To follow up previous articles in his U.S. Regulation of Exports and International Conduct series, Foley & Lardner’s Greg Husisian provides an overview of the basic economic sanctions compliance best practices that many multinational corporations adopt to minimize their sanctions-related regulatory risks.
Increased SEC focus on negligence makes effective oversight and compliance increasingly important today. DLA Piper’s Deborah Meshulam briefly outlines what to expect and how to prepare.
Smith Moore Leatherwood’s Alex Maultsby explores the persistent problem of workplace harassment and how to educate employees about the basics. He also discusses training a small managerial group tasked with investigating harassment claims.
With increased regulations, management must educate themselves on the nuts and bolts of wage and hour laws to avoid penalties. Fisher & Phillips’ John Skousen walks us through several current labor laws, providing examples from California, and illustrates just how costly noncompliance can be for corporations.
Legal requirements are of concern to compliance personnel. But “compliance” as a mantra does not end there. Instead, fraud prevention only begins with legal prohibitions. Stated differently, “compliance” is not a destination. Rather, it is a goal that will evolve as business necessities and circumstances change.
Fox Rothschild’s David Restaino covers corporate compliance holistically, from the laws that govern compliance to consequences of inadequate compliance and the benefits of a robust compliance program.
In his Compliance Nuts & Bolts column this week, Thomas Fox suggests that companies adopt tips from the bank sector with regards to transaction monitoring to ensure that corporations’ anti-corruption and anti-bribery efforts are not wasted.
Despite the passage of the Sarbanes-Oxley Act in 2002, continual scandals in the financial markets within the past few years led to the passing of the Dodd-Frank financial reform act of 2010. The implementation of this legislation now requires thousands of smaller organizations to file with regulatory agencies and has created a marked increase in the need for corporate compliance strategies and executives. Dr. Marie Geradin presents three components that are integral to the success of building a compliant organization.