All articles by Jaclyn Jaeger – Page 101
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Global Investigations in the Modern Era
“Europe” may be a nice short-hand for discussions about global business, but in reality is still 28 individual nations, each with their own laws and customs. Little surprise, then, that in several discussions about internal investigations at the Compliance Week Europe conference, the subject got complicated quickly. We have the ...
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Volkswagen Disputes New EPA Allegations
The Environmental Protection Agency today issued a second “notice of violation” of the Clean Air Act, alleging that Volkswagen developed and installed a defeat device in certain VW, Audi, and Porsche light-duty diesel vehicles equipped with 3.0 liter engines for model years 2014 through 2016. These alleged violations are in ...
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457 Hospitals to Pay $250M in False Claims Act Case
The Department of Justice today reached 70 settlements totaling more than $250 million involving 457 hospitals in 43 states to resolve allegations that these hospitals implanted cardiac devices in Medicare patients in violation of Medicare coverage requirements. “In terms of the number of defendants, this is one of the largest ...
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Justice Department Ends Bristol-Myers Squibb FCPA Probe
The Department of Justice has ended its investigation into allegations that pharmaceutical giant Bristol-Myers Squibb violated the Foreign Corrupt Practices Act. Earlier this month the company reached a $14 million settlement with the SEC for FCPA violations relating to certain sales and marketing practices in China. More inside.
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Justice Department Names GM Monitor
The Department of Justice announced this week that it has approved the appointment of Bart Schwartz to serve as the monitor for General Motors. The monitor appointment is part of a deferred prosecution agreement GM reached with the Justice Department last month to resolve criminal charges for wire fraud and ...
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Warner Chilcott to Pay $125 Million in False Claims Act Case
Warner Chilcott U.S. Sales, a subsidiary of pharmaceutical maker Warner Chilcott, today reached a $125 million settlement with the Department of Justice to resolve charges of healthcare fraud. The company pleaded guilty to criminal charges that the company paid kickbacks to physicians throughout the United States to induce them to ...
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Distilling Compliance Lessons of U.S. Sanctions Laws
Crédit Agricole, fined nearly $790 million last week for violations of U.S. sanctions law, is the latest cautionary tale on this particularly nettlesome patch of corporate compliance. Penalties for sanctions lapses are surging, and the regulations themselves are growing exponentially more complicated. Sanctions compliance was a prime topic at one ...
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Mending the Data Privacy Gaps of the EU Safe Harbor Ruling
Image: Three weeks after Europe’s top court demolished the 15-year-old Safe Harbor Program to transfer personal data from Europe to the United States, thousands of U.S. companies that used the program are still scrambling to fill data privacy gaps. “To lean back and see how things play out is not ...
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Daimler Integrity Executive Joins Volkswagen Amid Emissions Scandal
Christine Hohmann-Dennhardt, who currently serves as a member of the board of management of Daimler for integrity and legal affairs, is leaving her post there to assume the same role at competitor, Volkswagen. Daimler agreed to terminate Hohmann-Dennhardt's contract early, which was supposed to run until Feb. 28, 2017. More ...
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SEC: First-of-Their-Kind Actions Take the Spotlight in 2015
The Securities and Exchange Commission continued to build a strong record of first-of-their-kind cases that spanned the spectrum of the securities industry, according to the agency’s fiscal year 2015 enforcement report. The SEC filed 807 enforcement actions, obtaining approximately $4.2 billion in disgorgement and penalties—an increase from the 755 enforcement ...
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Crédit Agricole to Pay $787 Million for Sanctions Violations
Crédit Agricole will pay a total of $787.3 million in criminal and civil financial penalties for economic sanctions violations. Federal and local agencies allege that Crédit Agricole engaged in a series of schemes to process more than $32 billion in U.S. dollar payments through its New York branch from its ...
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Global Tax Overhaul Moves Forward
Slowly but surely, developed nations are closing ranks on an international tax agreement intended to crack down global companies parking profits in low-tax jurisdictions. The OECD issued its final recommendations, Base Erosion and Profit Shifting (BEPS) plan, earlier this month, which G-20 countries will then implement locally. Nice idea in ...
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New U.K. Law Introduces U.S.-Style Class Actions
Image: A change in British law is bringing American-style class-action lawsuits in cases where companies violate competition laws—something U.S. companies operating in Britain should keep in mind when implementing strategies to reduce antitrust risks. “It’s anticipated that there will be a lot more litigation in English courts going forward because ...
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Millennium Health to Pay $256 Million to Resolve False Claims Act Case
Millennium Health (formerly Millennium Laboratories) today reached a $256 million settlement with the Justice Department to resolve allegations that it billed for Medicare, Medicaid, and other federal health care programs for medically unnecessary urine drug and genetic testing and for providing free items to physicians who agreed to refer expensive ...
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Tuomey Healthcare System to Pay $72 Million in False Claims Act Case
The Department of Justice announced last week that it has resolved a $237 million judgement against Tuomey Healthcare System to for illegally billing the Medicare program for services referred by physicians with whom the hospital had improper financial relationships. Under the terms of the settlement agreement, the United States will ...
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Sevan Marine Self-Reports Bribery Probe
Sevan Marine, a technology and engineering company, announced last week that it has handed over to Norwegian authorities the results of an internal investigation report regarding potential bribes paid to Petrobras to obtain business. Additionally, it has initiated contact with the relevant prosecutors’ offices in the United States, the ...
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World Bank Tries Procurement Reform to Cut Corruption Risk
Sweeping changes to the World Bank’s policies and procedures are afoot that will make the procurement process more consistent and transparent for companies bidding on bank-funded contracts. One big focus: how to reduce bribery and corruption in the procurement process. That will be a mixed bag for compliance officers—more attention ...
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What the FBI Brings to an FCPA Investigation
Image: Many of the agencies that investigate Foreign Corrupt Practices Act violations are the ones you don’t hear about. They stand apart from the Justice Department, discreetly waiting to leap on the next FCPA violator that crosses their path. The best example is the FBI. “The FBI historically has been ...
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Compliance Officer Salaries: A Benchmark Report
A new report compiled by the Society of Corporate Compliance and Ethics offers benchmarking data for chief compliance officers who want to see how their salaries compare to those of their peers. The report, which compares average compliance officer salaries by industry, size of company, and tenure, finds that CCOs ...
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SEC Reform of In-House Trials Gets Lukewarm Reception
Image: Facing lawsuits and other complaints that its administrative proceedings are stacked against defendants, the SEC is mulling changes to give the accused more ability to defend themselves. The proposals have received lukewarm reception at best. “The proposed amendments do not come close to addressing all the issues that administrative ...