Compliance

What You Need to Know Within the last few months, employers have begun to be assessed fines by the IRS in Letters 226J for not complying with employer shared responsibility payments (ESRPs) dating back to 2015. Employers have 30 days to challenge or accept an ESRP penalty. While there is nothing they can do to prevent penalties from 2015, employers...

Market Forces Suggestions to maximize the company’s innovative potential within the confines of social responsibility, pay attention to emerging risks and better position risk management and compliance within the organization and adopt a compliance framework. Read part 3 of this four-part series from Protiviti here. Read part 2 here. Read part 1 here. This series was originally shared on Protiviti's...

Uptick in Companies Taking Steps to Combat This Scourge More and more companies are combating modern slavery. The scourge is a particular problem in the Asia-Pacific region, but the fight is also going strong there. Wendy Wysong and team discuss steps being taken in Asia-Pacific to curb the infringement of human rights. with co-authors Peter Coney, Nick Turner and Amanda...

A Rapidly Changing and Unpredictable Landscape The changing landscape is altering the conversation at the highest levels of technology companies, necessitating action to make the transition to a more balanced focus in the C-suite and boardroom agendas on governance and regulatory concerns, social responsibility to the greater community issues, and other matters germane to preserving enterprise value along with all...

Navigating New Criminal Division Guidance and Accelerating Remediation The Department of Justice’s Criminal Division has recently issued new guidelines for corporate compliance and monitorships, and Bart Schwartz, Chairman of Guidepost Solutions, discusses the opening they provide to businesses to reassess and bolster their compliance programs. In his remarks at the Corporate Compliance and Enforcement Conference earlier this month, Assistant Attorney...

A Call for Greater Multidisciplinary Oversight As your company’s reliance on third parties grows, so too does the risk associated with doing business with these relatively unknown partners. Michael Volkov entreats companies to put in place more robust due diligence processes to minimize their third-party risks. Believe it or not, but companies are still struggling with third-party risk management systems....

Smarsh has just released its eighth annual Electronic Communications Compliance Survey Report. The survey of compliance professionals in the financial services industry shows that organizations are not keeping pace with their retention and supervision efforts — particularly with a growing, younger workforce that relies on expanding, mobile-friendly channels, such as social media and text messaging. As a result, evolving technologies and...

A New Anti-Money Laundering Regime for a New Century The landscape of AML regulations is scattered, with its primary legislative supports coming from 1970, 1996, and 2001. This article discusses the proposed bill, its bipartisan support as identified by hearings already conducted on the subject, and its implications for financial institutions if enacted. In 1970, a Big Mac cost $0.49,...

Challenges Posed by New Sanctions SIX’s Oliver Bodmer discusses difficulties companies face in navigating compliance matters associated with the flurry of U.S. sanctions posed this year. He shares insights in particular on challenges within the M&A space, as well as on the complexities when pursuing and closing transactions with companies with unique holdings. We’re only part of the way through 2018,...

Key Findings from Dun & Bradstreet Report Brian Alster, Global Head of Supply & Compliance at Dun & Bradstreet, outlines results from the Dun & Bradstreet 2018 Compliance and Procurement Sentiment Report. With data gleaned from business leaders across compliance and procurement functions, he discusses the top concerns and challenges and offers a look at how the emerging trend of...

What the Decision on Epsilon's Sanctions Violations Means for Companies Michael Volkov discusses Epsilon's sanctions violations, the resulting "reason to know" requirement and the potential impact to companies going forward. The Department of Treasury’s Office of Foreign Asset Control (OFAC) recently announced the settlement of the Epsilon enforcement action (here).  This case requires a theme song and there is none...

Addressing Regulatory Compliance Issues Point B’s Steve Hall and Sydney Rickelman discuss the benefits of a remediation management office (RMO) and how organizations can establish and execute one, leading to significant time and cost savings. with co-author Sydney Rickelman Maintaining compliance can feel like a moving target. Organizational growth resulting from an acquisition or introduction of a new product or...