Compliance

US Department of Treasury building in DC

With Updated AML/CFT Priorities, Businesses Across Verticals Face Unprecedented Exposure to FinCEN and OFAC Scrutiny

Updated enforcement priorities and guidance on facilitating ransomware payments remind companies of all types to establish holistic AML policies and programs — and revisit them as events warrant, write Saul Ewing Arnstein & Lehr partner Joe Valenti and associate Christie McGuinness. The Financial Crimes Enforcement Network (FinCEN) this summer announced America’s first government-wide priorities list for anti-money laundering and countering...

IBA Covid-19 Legal Policy Task Force Pandemic Management Report

IBA Covid-19 Legal Policy Task Force Pandemic Management Report

The International Bar Association (IBA) COVID-19 Legal Policy Task Force has released a report detailing the pandemic’s impact in key legal areas and making concrete actionable recommendations to improve pandemic management in the future. The task force examined the impact of the pandemic on international legal systems, recognized the successes and failings of those systems in dealing with the outbreak...

3 in 4 Office Workers in US, UK Have Seen or Experienced Workplace Misconduct, Vault Platform Survey Finds

Vault Platform’s Trust Gap Report: Expectation vs. Reality in Workplace Misconduct and Speak Up Culture

Workplace technology provider Vault's first-ever "Trust Gap Report" has determined that despite a renewed awareness of and interest in preventing workplace misconduct, incidents like bullying and harassment remain common at offices in the U.S. and the U.K. Vault's survey of 2,000 office workers in the two countries found that about half of office workers in the two countries have personally...

Survey: As Regulated Organizations Continue to Ramp Up Collaboration Tool Usage, Compliance Concerns Persist

Survey: As Regulated Organizations Continue to Ramp Up Collaboration Tool Usage, Compliance Concerns Persist

Rapid adoption of collaboration tools during pandemic helped ensure employees and customers in financial services industry were connected, but research reveals that quick uptake of these platforms elevates compliance risk in regulated industries like finance. More than eight in 10 financial services executives say their companies are turning off key productivity and usability features of collaboration platforms like Zoom, Microsoft...

Apotex, Sandoz, Taro to Pay $447M Over FCA Violations Involving Price-Fixing of Generic Drugs

Apotex, Sandoz, Taro to Pay $447M Over FCA Violations Involving Price-Fixing of Generic Drugs

The Justice Department's probe into the generic pharmaceutical industry has resulted in three new settlements. Each arose from deferred prosecution agreements over violations of the False Claims Act anti-kickback statute. The healthcare industry faces cascading risks — one risk flows to another with compounding financial results. Three generic drug companies just experienced this cascading liability. As part of the Justice...

Menendez, Rubio, Merkley Lead Probe Into U.S. Firm’s Reported Use of Uyghur Forced Labor in China

Menendez, Rubio, Merkley Lead Probe Into U.S. Firm’s Reported Use of Uyghur Forced Labor in China

Menendez, Rubio and Merkley ask Universal Electronics to provide details of agreement with Xinjiang government to transfer 400 workers to company's Chinese factories A bipartisan trio of senators is asking for answers from U.S..-based electronics firm Universal Electronics after a report by the Reuters news agency said the company could be implicated in forced-labor practices targeting Uyghur Muslim workers in...

Birdseye view of a lush forest

12 ESG-Related Topics Worthy of the C-Suite and Boardroom

Environmental, social and governance reporting has come into its own as a discipline, with most companies now issuing sustainability reports. What’s the board’s and executive team’s role in ensuring that these reports are responsive to investor needs? An estimated 95 percent of the S&P 500 published detailed environmental, social and governance (ESG) sustainability reports in 2019. Most of these reports...

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