The Securities and Exchange Commission has tapped an experienced prosecutor to head up the Division of Enforcement. Stepping up from his previous job as attorney general for the state of New Jersey, Gurbir S. Grewal takes over the enforcement office at a time when pandemic-related frauds and investment scams are Read More
Amec Foster Wheeler Limited agreed on Friday with the Securities and Exchange Commission and the Department of Justice to pay a total of more than $43 million related to violations of the Foreign Corrupt Practices Act. The British-based oil and gas services company, owned by John Wood Group PLC, entered Read More
GUEST BLOGInternal auditors, compliance officers, and other “lines of defense” professionals are in unique positions to spot fraud and wrongdoing at the companies where they work. In most cases it is enough to report the problems to senior management or to the board of directors in situations where senior executives Read More
A new survey found that compensation for in-house counsel took a hit in 2020 as a result of the pandemic, with all industries reporting the smallest base salary increases in the last five years. The survey, conducted by legal recruiting firm BarkerGilmore, also found that while lawyers in consumer, healthcare Read More
Deutsche Bank AG is making changes to its anti-financial crimes and compliance teams following years of regulatory scrutiny and enforcement actions, according to a recent internal memo. The changes, which go into effect July 1, are part of a shift away from fixing specific compliance shortcomings and toward tackling regulatory challenges in Read More
The New York City Bar Association proposed a new framework it hopes will influence decisions by regulators to charge chief compliance officers in certain criminal and civil cases. The move is an attempt to quell growing concerns from enforcement actions that hold financial sector CCOs individually liable for the actions Read More
The Securities and Exchange Commission has released its 2021 “Agency Rule List” to give companies an idea of the regulations in its pipeline and when they can expect them to move forward. The list includes a schedule of proposed and final rules on such topics such as climate change disclosures, Read More
A new study finds that more financial firms are outsourcing all or part of their compliance functions, while others are growing compliance budgets and staff levels more slowly. Meanwhile, a large majority expect regulators to continue to pile on new regulations during the rest of the year. The study, 2021 Read More
Corporate compliance officers are getting more involved in diversity and inclusion efforts, using their expertise in helping employees adhere to laws and company policies to push for change. Many companies made commitments to promote racial equality last year following the murder of George Floyd while in police custody, including by hiring and Read More
As a government outsider, it’s impossible to know why there hasn’t yet been any DOJ or SEC corporate enforcement of the FCPA under the current administration. Here are three possible reasons: A time to renegotiate. With every change of administration, there is a changing of the guard. Department heads and Read More
