From China to Poland and Brazi l- The Lilly FCPA Enforcement Action- Part II
In Parts II and III of my review of the Eli Lilly and Company (Lilly) Foreign Corrupt Practices Act (FCPA) enforcement action brought by the Securities and Exchange Commission (SEC), I will discuss...
View ArticleThe Lilly FCPA Enforcement Action (Part III) Lessons Learned from Russia
This Part III is the final installment of my review of the Eli Lilly and Company (Lilly) FCPA enforcement action brought by the Securities and Exchange Commission (SEC). In this Part III, I will review...
View ArticleThe FCPA Guidance on the Ten Hallmarks of an Effective Compliance Program
Many commentators are still mining the Department of Justice (DOJ)/Securities and Exchange Commission (SEC) publication, A Resource Guide to the U.S. Foreign Corrupt Practices Act, (the “Guidance”),...
View ArticleAntimonopoly Law Considerations and Risk Management in connection with M&A...
In This Presentation: - General Indemnity: (1) Background and structure (2) Main provisions (3) Conduct of claims - Antitrust Indemnity: (1) Background (2) Main provisions (3) Conduct of...
View ArticleDistributors Should Be Analyzed As Any Other Third Party Representative in...
Ed. Note-David Simon is a partner at Foley and Lardner and Bill Athanas is a partner at Waller Lansden Dortch & Davis, LLP. Both have practices which include FCPA compliance. After my recent post...
View ArticleAnalyzing the Risk of Distributors Under the FCPA-the Simon Approach
Ed. Note-we continue our series on the risk analysis and assessment of distributors under the FCPA and management of that risk. Today, David Simon contributes a guest post where he articulates another...
View ArticleDue Diligence When Renewing A Third Party Relationship
Happily married couples like to renew their wedding vows. It is a great celebration of love. When you meet the spouse of your dreams, it is a wonderful ceremony. I look forward to such an event with my...
View ArticleThird Party Risks And Internal Auditors
You remember the corny song – “People who need people are the luckiest people in the world.” For a Chief Compliance Officer that saying is particularly important when it comes to third party risks....
View ArticleAnti-Corruption High-Risk Audits
The Justice Department and the SEC should be credited with promoting new compliance strategies and best practices. Whatever you may think about the DOJ/SEC FCPA enforcement program, they have pushed...
View ArticleFrom The Compact Model To The Luxury Model – Managing Your Third Party Risk
I am currently attending the Hanson Wade Oil and Gas Supply Chain Compliance conference in Houston. The event is excellent and the presentations have been ‘spot on’ for the nuts and bolts of how to do...
View ArticleKroll And Compliance Week Survey Anti-Bribery And Anti-Corruption
Not many people realize that the US has elected one president who served as a prisoner of war....By: Thomas Fox
View ArticleWhy Ignorance Isn’t Bliss When It Comes to Third Party Risk Management
In a recent webinar, Randy Stephens, VP of our Ethical Leadership Group, and Mike Vermilion, Senior Director of Third Party Risk Solutions, outlined a best practice approach to risk-adjusted due...
View ArticleThe Smaller The 401(k) Plan, The Bigger The Problems
401(k) plans are a world of contradictions. It’s one of the few employer provided benefits that an employee usually pays for through their account balance. It’s a retirement plan that an employer...
View ArticleManaging And Minimizing Your Third-Party Risks
Let’s start with a few basic assumptions – we all know that third parties are often the most significant risk for corruption....By: Michael Volkov
View ArticleCompanies Turning to Technology to Combat Third Party Risk
As technology continues to increase the efficiency of most operational tasks, it should come as little surprise that technology can now improve the labor-intensive process of managing third party risk....
View ArticleDrilling Down On Due Diligence: Raising The Bar
I am sure Justice Department and Securities and Exchange Commission lawyers sometimes sit back and marvel at the world they have helped create – Companies are devoting more resources to the due...
View ArticleA Prescriptive Guide To Third Party Risk Management
The recent examples of compliance program credits for Morgan Stanley and Ralph Lauren have demonstrated that, more than ever, an effective compliance program can protect a company from criminal...
View ArticleBribery, Corruption, and Third Party Risks - What Can You Do.
Please see full Infographic below for more information....By: NAVEX Global
View ArticleThird Party Risk in a Global Environment
Most organizations engage with hundreds, if not often thousands, of third party vendors, suppliers, agents and business partners, creating a daunting and ever-expanding scope of risk. This risk arises...
View ArticleAnti-Bribery and Corruption Compliance Practices
Compliance Week published its 2014 Anti-Bribery and Corruption Benchmarking Report, a survey of over 180 executives involved in ethics and FCPA compliance and internal audit. The Survey focused on...
View ArticlePotential Impact of New SEC Rules on Cell Tower Securitizations
On August 27, 2014, the Securities and Exchange Commission (the “SEC”) adopted two final rules implementing new regulations affecting asset-backed securities (“ABS”). The first set of rules, referred...
View ArticleBuilding Your Third Party Due Diligence Checklist: The Right Pieces,...
A comprehensive approach to third party and vendor due diligence management is essential for any company conducting business globally. A strong due diligence program’s purpose is two-fold......By:...
View ArticleNew Year, New Focus on Enforcement: The U.K. Strengthens Anti-Bribery and...
U.K. regulators have started 2015 with a bang, promising increased cooperation among regulatory agencies, and tougher enforcement of financial crimes, with an emphasis on anti-bribery and corruption...
View ArticleThe State of Anti-Bribery & Corruption Programs: Key Trends and Takeaways...
Kroll and Compliance Week’s 2015 Anti-Bribery and Corruption Benchmarking Report, surveyed global compliance executives and revealed that, while compliance officers are aware of the risks of...
View ArticleGreat Structures Week V – The Tacoma Narrow Bridge Failure and Preventing...
I conclude my Great Structures Week with a focus on structural engineering failures: suspension bridges and the challenges of wind in their construction and maintenance. I am drawing these posts from...
View ArticleScottish Authorities Settle First Corporate Criminal Offence Under the...
On 25 September 2015, prosecutors in Scotland announced the first application of the corporate offence of failing to prevent bribery under section 7 of the Bribery Act 2010. Due to self-reporting and...
View ArticleIs Your HIPAA Compliance Program Ready for the FTC?
Everyone in healthcare knows that the next round of HIPAA audits is coming. Covered entities and business associates have long been advised to review and update their HIPAA security risk analyses, have...
View ArticleCommon FCPA Issues
As our previous posts illustrate, violations of the Foreign Corrupt Practices Act (“FCPA”) can carry a hefty cost. Two issues are commonly the impetus for FCPA violations and, practically speaking,...
View Article2015 Ethics & Compliance Third Party Risk Management Benchmark Report
Organizations are still coming to terms with the breadth and depth of their third party risk. An effective third party risk management program is in the interest of all organization —regardless of...
View ArticleBlog: Lack of Knowledge is No Defense: Seventh Circuit Strips Bank’s Lien on...
The Seventh Circuit (which covers Illinois, Indiana, and Wisconsin) appears to have added a new and potentially conflicting standard in analyzing a third-party transferee’s “good faith” defense to a...
View ArticleConstruction due diligence: Sooner is always better than later
Non-payment of receivables is an ongoing problem for contractors, subcontractors and material suppliers notwithstanding the strength or weakness of the economy. Having knowledge of one’s alternative...
View ArticleThe Panama Effect: UK Government accelerates proposals to criminalise failure...
10 considerations for professionals and corporates worldwide in advance of the new law. Overview - In a move widely seen as a response to the so-called “Panama Papers” revelations, the UK Government...
View Article[Webinar] How do I Demonstrate the Advantages of an Automated Third Party Due...
Join NAVEX Global and a group of your peers for a short session where we’ll answer your questions and share solutions about third party due diligence and risk management software....By: NAVEX Global
View ArticleWhen Diligence is Not Given its “Due”
I find myself quibbling with compliance terms – hyper focus on small issues is not a positive trait. I often urge clients and colleagues to focus on issue of more significance and leave the smaller...
View ArticleDonations and Grants in China: Compliance Controls Beyond T&E
While travel and entertainment expenses have presented significant compliance challenges for life sciences companies operating in China, donations and grants can also pose notable compliance risks....
View ArticleDOJ and SEC Raising the Stakes on Third Party Risk Management
If you review the last ten years of FCPA enforcement, the unmistakable pattern is rising expectations with regard to corporate compliance programs, particularly with regard to third party due diligence...
View ArticleDue Diligence Basics – Beneficial Ownership
I hate to be the harbinger of bad news; that is against my nature; I am naturally an optimistic person. As I always say, there are solutions to every problem....By: Michael Volkov
View ArticleFour Things Compliance Practitioner Should Know About the Eurasian Economic...
Four Things Compliance Practitioner Should Know About the Eurasian Economic Union - An effective Compliance risk management at emerging markets for any business significantly depends on timeous...
View ArticleCommercial Third Party Litigation Funders Exposed to Indemnity Costs in the UK
The UK Court of Appeal has held the funders of a losing claimant subject to a costs order on an indemnity basis as a result of the conduct of the claimant and its instructing solicitors. In Excalibur...
View Article[Video] Day 17 of One Month to More Effective Continuous...
Continuous improvement can take many ways, shapes and forms. Typically, when it comes to third-party risks, a Chief Compliance Officer (CCO) or compliance professional will consider the ownership...
View ArticleThe Lawyers' Lawyer Newsletter - Halloween Issue October 2017
Client Intake — Due Diligence — Liability to Parties Other than Client — Holding Funds in Trust - P&P Property Ltd. V. Owen White & Catlin LLP, et al. 2016 WL 05484797 (English High Ct. of...
View ArticleAnti-Bribery Compliance Meets Permits, Approvals and Licences in India
Obtaining permissions, approvals and licences in India creates high risks for bribery on account of there being significant interaction between the company and government authorities. Originally...
View ArticleDemocratized Due Diligence Will Judge Your Third Parties, even if You Don’t
Ethics and compliance officers already know data analytics can be a powerful thing. Now we have a fresh example of how the ingredients of a data analytics program – data, interpretation tools, and...
View ArticleClassifying Your Third Parties: An Essential Third-Party Due Diligence First...
From a corruption risk perspective, companies should be looking at their third parties that act in a representative capacity. Look no further than the 2018 FCPA enforcement actions to date for...
View ArticleWhen Can a Company Be Liable for Its Vendor’s Copyright or Patent...
The case of Rearden LLC et al. v. The Walt Disney Company et al., Nos. 3:17-cv-04006, 04191 & 04192 (N.D. Cal.), has been covered more in the Hollywood Reporter than in legal publications, but it...
View ArticleTwo Early Findings: 2018 Third-Party Risk Benchmark Report
NAVEX Global’s fourth annual Third-Party Risk Benchmark Report is expected to provide important insights on the current state of third-party risk management and how third-party risk programs fit into...
View ArticleData Due Diligence In M&A Transactions: Ownership Rights in Data
As data are quickly becoming a significant corporate asset, lawyers in corporate transactions need to consider the legal risks associated with data. Failure to understand and address these risks can...
View ArticleBeyond Due Diligence: Ongoing Third Party Risk Management
There is something in a name. More people in the compliance industry, when referring to third-party due diligence, are labeling it “Third Party Risk Management.” I like it because it is more...
View ArticleSlavery in Supply Chains: CBP Petitions Raise New Forced Labor Compliance Risks
Third-party petitions seeking to ban the importation of goods made with forced labor may affect global supply chains. Petitions are being filed with U.S. Custom and Border Protection seeking to ban the...
View ArticleContract Corner: Third-Party Contract Due Diligence in Outsourcing Agreements
The due diligence review of existing third-party contracts is a critical component of any outsourcing deal. For the company that is outsourcing part of its business functions to a third party,...
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