Many companies have an investigation protocol in place when a potential Foreign Corruption Practices Act (FCPA) or other legal issue arises. However, many Boards do not have the same rigor when it comes to an investigation, which should be conducted or led by the Board itself.
Whether based on a whistleblower complaint or because you are subject to an inquiry from a governmental agency, a company faced with potential employee misconduct must perform an internal investigation.
When James Cole, U.S. Deputy Attorney General, gave his keynote address at ACI’s 30th International Conference on the FCPA, he dedicated an inordinate amount of time to the issue of self disclosures of FCPA violations.
You work in compliance. Now you are on the horns of a dilemma. Are you going to become a whistleblower or not?
Reporting wrongdoing at work will never be easy. So why do whistleblowers go ahead?
Without internal reporting channels, employees may opt to seek a whistleblower reward by pursuing an action directly with government agencies…
We know that a co-worker has taken sensitive information. Do we report this or not? Most people might want to report it but either don’t know who to speak with or have a hard time identifying whether or not this is truly something that needs to be reported.
Management that turns deaf ears when subordinates report false billing or illegal marketing in dealing with federal or state governments can unleash a torrent of financial and reputational harm on the company. Indeed, that scenario is just the sort of situation that can turn into a full-blown, multi-million-dollar whistleblower settlement brought by a company insider under qui tam provisions of federal and state False Claims Acts.
The Importance of Compliance Audits in Today’s Intensive Enforcement Environment and Whistleblower Culture
Ben Tyman of Mintz Levin explains why periodically conducting independent, confidential compliance audits is the best way to assess these compliance risks as well as to test the efficacy of your internal compliance program in doing what, at its core, it is supposed to do.
This article by Michael Littenberg of Schulte Roth & Zabel highlights five compliance items — some of which are still at the far end of the horizon — that all public companies should have on their short list.