Emtrain Blog

NEW! Antitrust and Competition Law Course

Posted by Allison Baker

March 2, 2017

Today’s legal and business environments make training on antitrust and competition laws more important than ever. We created our new Antitrust and Competition Law course to train your employees to identify anticompetitive behavior and avoid scrutiny from government agencies.

In the last five years, the U.S. Department of Justice and European Commission have levied billions of dollars in fines and penalties – bringing new focus to antitrust issues in the workplace.

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Topics: Business Compliance, Antitrust

Here Are the Elements for a Monopolization Claim under the Federal Antitrust Laws

Posted by Allison Baker

March 1, 2017

Earlier this month, our new Antitrust and Competition Law course expert, Jarod Bona, shared some insights on his blog about how the federal antitrust agencies and courts decide if an organization's behavior would be illegal under antitrust or competition laws.

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Topics: Business Compliance, Antitrust

New Year's Resolutions for Compliance Professionals

Posted by Sally March

December 27, 2016

 

The following post was written by our Expert contributor, Sally March and was originally published in the January 2017 issue of Compliance and Ethics Professional (an SCCE publication).


I’ve never been one for New Year’s resolutions myself. I still think in terms of school years and tend to do my own reassessment in September. But regardless of when your “new” year begins, it is always good to take a look back at the year gone by and forward to the year ahead.

I worked in Russia in a former life, so I sometimes see my work in terms of the old Soviet 5-year plan. We need to recognize that building and maintaining an effective ethics and compliance program is not a short-term proposition. It is good to have a 3-5 year strategy for the program and take it out every so often to see if we are where we need to be for long-term success.

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Topics: Business Compliance

Compliance professionals: Here's why you need to market yourself

Posted by Sally March

December 15, 2016

 

The following post was written by our Expert contributor, Sally March and was originally published in the December 2016 issue of Compliance and Ethics Professional (an SCCE publication).


“I don’t know what Compliance does.” Are you still hearing this as you talk with people in your organization?

I was asked recently what the lines of demarcation are between Compliance, Enterprise Risk Management, and other functions. So I searched the literature and found very little. Some organizations use GRC—Governance, Risk, and Compliance—as a catch-all for ensuring adequate internal controls. Others split responsibilities across several functions.

For example, ERM scans the horizon to ensure the business understands all its risks, including compliance risks, but it doesn’t monitor effectiveness or offer assurance that those risks are being mitigated adequately to prevent misconduct.

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Topics: Business Compliance

Happy National Drink Beer Day, Now Give the SEC $6 Mil!

Posted by Allison Baker

September 29, 2016

Yesterday, on National Drink Beer Day, no less, the SEC filed a cease and desist order against Anheuser-Busch InBev for violating the FCPA’s books and records and internal controls provisions.

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Topics: Compliance, Business Compliance, Corporate Governance, FCPA

What We Learned From Wells Fargo About Checks and Balances

Posted by Janine Yancey

September 28, 2016

As the Wells Fargo scandal continues to unfold, it’s become clear that we need external checks and balances in place to hold publicly traded companies accountable.

Internal controls can only go so far if your executive team is negatively influencing workers from the top-down.

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Topics: HR Compliance, Business Compliance, whistleblower, retaliation

UK-Based AstraZeneca Pays $5.5 to Settle FCPA Enforcement Action

Posted by Allison Baker

September 2, 2016

Earlier this week, the SEC announced a $5.5 million enforcement action against AstraZeneca based on the actions of its foreign subsidiaries.

The action stems from an almost decade-old issue involving the UK-based company providing various items of value to Russian and Chinese physicians via foreign subsidiaries.

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Topics: Compliance, Business Compliance, Corporate Governance, FCPA

Key Energy Services Resolves FCPA Enforcement Action for $5 million

Posted by Allison Baker

August 17, 2016

 

Key Energy Services was found liable for FCPA books and records and internal controls violations, even though the SEC found that certain employees of an indirect Mexico subsidiary “abused their privileges, approving suspect arrangements with and payments to consultants and gifts to Mexican government officials at Pemex, and concealing these arrangements and payments from Key Energy.”

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Topics: Compliance, Business Compliance, Corporate Governance, FCPA

FCPA Enforcement: LAN Airlines Pays $22 Million to Settle FCPA Charges

Posted by Allison Baker

July 28, 2016

 

Earlier this week, LATAM / LAN airlines, a Chilean company, paid the U.S. government $22 million in an FCPA enforcement action related to an Argentine labor dispute.

The FCPA enforcement action against LATAM / LAN airlines was an extension of the February 2016 enforcement action against current LATAM CEO Ignacio Plaza.

The enforcement action is interesting for a few reasons:

  • The initial violation occurred 10 years ago on foreign soil.

  • There were no actual anti-bribery charges. Rather, the charges were for violations of the FCPA's books and records and internal controls provisions - provisions applicable to the Chilean company because it has shares traded on a U.S. exchange.

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Topics: Compliance, Business Compliance, Corporate Governance, FCPA

Ethics in Business: Stakeholder vs Shareholder

Posted by Sally March

July 26, 2016

 

The following post was written by our Expert contributor, Sally March and was originally published in the August 2016 issue of Compliance and Ethics Professional (an SCCE publication).


Milton Friedman, a Nobel prize-winning economist, wrote that there is only one social responsibility of a business—to increase profits so long as it stays within the rules of the game.

I was reminded of this recently when a major UK retailer went into administration, leaving a deficit in the employee pension fund of £571 million. The company had recently been sold for £1, but the previous CEO had run the business for 15 years, during which time he paid £580 million in dividends and rents to his shareholders (primarily his wife in Monaco).

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Topics: HR Compliance, Business Compliance