Earlier this month, the Consumer Financial Protection Bureau (CFPB) – the federal watchdog agency mandated by the Dodd-Frank Act to regulate consumer financial products and services – issued its first ever public enforcement action. Its target? Capital One Bank, which according to the CFPB engaged in deceptive marketing practices, pressuring consumers into purchasing credit card… Read more »
The Office of Civil Rights (OCR) recently reported on its first round of HIPAA compliance audits. There’s much for everyone to learn from the results. Some early takeaways: 1. Small covered entities have more issues than larger ones “Six of the 20 audited entities (30%) were small entities (e.g., $50 million or less in revenue),… Read more »
What’s on your mind? Human trafficking, online advertising, corporate bribery, and legal issues for nonprofits, among other things. For your reference, here’s a look at the most-read Corporate Law Report posts over the past month: 1. California Transparency in Supply Chains Act Takes Effect January 1, 2012 “The California Transparency in Supply Chains Act of… Read more »
(Wal-Mart Bribery Allegations: Initial Impressions by Thomas Fox) In a stunning revelation this weekend, the New York Times reported on millions of dollars in bribes spent by Wal-Mart de Mexico – and covered up by Wal-Mart’s board and senior management – to support the unit’s rapid expansion to market dominance in Mexico. If the allegations… Read more »
Any corporation whose business extends beyond United States borders must have a comprehensive and effective compliance program to address the rules of the Foreign Corrupt Practices Act – and, for that matter, any additional corruption regulations in countries where they conduct business. But a good program is more than a set of rules, it’s a… Read more »
Open (your wallet) wide and say “Aaah” – late last month, medical device manufacturer Biomet, Inc. paid more than $20 million to settle charges that it bribed doctors around the world to boost sales of its products over an eight-year period. It’s the latest in a long line of recent settlements over violations of the… Read more »
For your reference, a roundup of commentary and analysis on a broad range of legal matters relevant to companies active in Europe: Competition Law Below-cost Pricing by a Dominant Company May Not Constitute a Breach of EU Competition Law (K&L Gates LLP) “A recent European Court case has confirmed that a dominant firm will not… Read more »
For your reference, a roundup of recent Chinese legal news and developments of interest to multinationals active in the country: China’s Parliament Adopts Revision to Criminal Procedure Law (Sheppard Mullin Richter & Hampton LLP) “On March 14, 2012, the fifth session of the National People’s Congress adopted the latest revision to China’s Criminal Procedure Law… Read more »
Are the tactics of Foreign Corrupt Practices Act enforcement changing? That’s the question white collar and anti-corruption lawyer Mike Volkov ponders in Wiretaps — A New Tool for FCPA Enforcement?: “While the whistleblower rules are important and justify vigilant compliance efforts, there is a more significant, and possibly damaging, trend for FCPA enforcement. Corporations now… Read more »
Two recent updates on corruption and bribery provide important perspective on the challenges for multinationals in complying with the US Foreign Corrupt Practices Act and the UK Bribery Act. From law firm Warner, Norcross & Judd, a warning for companies doing business outside the United States that US officials – and the courts – continue… Read more »
From law firm Thompson Coburn, a useful advisory on the importance of extending compliance efforts across all links in the corporate supply chain: “A failure to coordinate the compliance systems of the principal/exporter and the logistics services provider creates a substantial missed opportunity for enhancing compliance and invites liability that can be easily avoided.” Read… Read more »
We’re looking forward to reading the recently published Lessons Learned on Compliance and Ethics: The Best from the FCPA Compliance and Ethics Blog, written by FCPA lawyer (and regular JD Supra contributor) Thomas Fox. Here’s an excerpt: “It cannot be emphasized too strongly that the Bribery Act is significantly stronger than the FCPA… All the… Read more »
For your reading pleasure, here’s a roundup of the most-read Corporate Law posts over the past month: human trafficking, HIPAA compliance, FATCA regulations, fracking, conflict minerals and more. 1. California Transparency in Supply Chains Act Takes Effect January 1, 2012 “The California Transparency in Supply Chains Act of 2010 goes into effect on January 1,… Read more »
From law firm Morrison & Foerster, a preliminary look at the dismissal of all charges in the “Africa Sting” Foreign Corrupt Practices Act trial. It’s a useful reminder that – even when there’s no clear evidence of wrongdoing – multinationals without compliance programs that draw clear lines between appropriate and inappropriate activities still run the… Read more »
For your reference, here’s a roundup of recent law firm commentary on key issues facing global corporations in their ongoing fight against corruption and bribery: Compliance Rules for Compliance Sakes? (Michael Volkov) “A strict policy without any rational justification is a costly policy. Too many companies simply adopt a flat amount for certain expenditures above… Read more »
