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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-09-16T15:50:00
The Department of Justice (DOJ) announced sweeping changes to its efforts to fight corporate crime, including new guidance regarding individual accountability, voluntary self-disclosure of violations, independent compliance monitors, and ways to strengthen and sharpen a firm’s compliance culture.
In a speech Thursday at New York University’s law school, Deputy Attorney General Lisa Monaco laid out the results of the DOJ’s “top-to-bottom review” of its corporate enforcement efforts geared “to further strengthen how we prioritize and prosecute corporate crime.”
“Taken together, the policies we’re announcing today make clear that we won’t accept business as usual,” she said. “With a combination of carrots and sticks—with a mix of incentives and deterrence—we’re giving general counsels and chief compliance officers the tools they need to make a business case for responsible corporate behavior. In short, we’re empowering companies to do the right thing—and empowering our prosecutors to hold accountable those that don’t.”
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News and analysis for the well-informed compliance or audit exec.
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2023-02-02T19:21:00Z By Aaron Nicodemus
Is the Department of Justice’s focus on individual accountability in white-collar crime cases encouraging companies to scapegoat their employees? A recent court filing in a $6 billion corporate fraud case could give company officers some sleepless nights.
2022-12-27T16:20:00Z By Kyle Brasseur
The U.S. Department of Justice informed French aircraft equipment manufacturer Safran that the company would not face prosecution regarding alleged bribes paid by employees at two subsidiaries to a China-based consultant.
2022-12-12T13:00:00Z By Aaron Nicodemus
The Department of Justice’s new CCO certification requirement drew mixed reviews from respondents to our “Inside the Mind of the CCO” survey, with many questioning whether the policy might backfire on the compliance profession.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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