All articles by Tom Fox – Page 23
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Target and Walmart show that supply chain risk is everywhere
The bigger the company, the bigger the supply chain risk. Just ask Target and Walmart, which recently had to confront this issue head-on over fake Egyptian cotton bedsheets. More from Tom Fox.
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In the FCPA World, your relationships matter
Do you know the character of those you are in business with from an anti-corruption perspective? Tom Fox looks at the Och-Ziff corruption scandal and what happens if you bring corrupt third parties into a relationship with your company.
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Potential VW criminal resolution—an early test for Yates Memo?
A look at potential VW criminal resolutions brings up several questions, says Tom Fox, around type of resolution; individual liability; and more. Will this test the DoJ’s Yates Memo?
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An employee suicide and corporate culture
The Man From FCPA Tom Fox examines the recent suicide of an executive with Abbot Laboratories in India and what happens when the numbers are more important than employees’ well-being.
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SFO Airbus investigation indicates new normal in financing and compliance
The Serious Fraud Office investigation into Airbus emphasizes the importance of compliance program best practices for borrowers in obtaining funding and loan guarantees, especially in light of the latest trend: government oversight. Tom Fox reports.
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The FCPA as an economic tool
The FCPA is rarely considered as an economoic tool. But as a means of fighting corruption, however, it also helps to improve market efficiency.
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DoJ sends clear signal in the LATAM/LAN FCPA enforcement action
A recent Foreign Corrupt Practices Act case found LATAM Airlines Group shouldering a heavy burden, paying out approximately $22.2 million in penalties. The significant costs, notes Tom Fox, seems to imply the Justice Department’s FCPA Pilot Program is working.
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AML due diligence for non-financial institutions: the next big thing in compliance?
What does the 1MDB scandal portend for non-financial companies and anti-money laundering compliance? Plenty, especially if they haven't reviewed their AML policies and procedures in the last 12 months. Tom Fox reports.
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FCPA compliance and the social contract
Tom Fox looks at how Foreign Corrupt Practices Act compliance promotes multiple corporate stakeholders.
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Why the U.S. must lead the global fight against corruption
As recent enforcement actions in Malaysia and Latin America have shown, the U.S. government must remain the world’s leader in the worldwide fight against the global scourge of corruption. Tom Fox has more.
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What states’ suit against VW means for corporate officer liability
New York, Maryland, and Massachusetts are claiming that top managers at VW were either specifically involved in the development and implementation of vehicle defeat devices, or knew of the issues that led to their creation. What does this mean for VW’s future—and, for that matter, what does it mean for ...
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Law firm involvement in the 1MDB Scandal
What does the use of the Shearman & Sterling trust account by 1MDB mean for the law firm?
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Front-loading at HSBC
The woes at HSBC continue as executives in its forex unit face charges of trading manipulation. Tom Fox has more.
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The Wolf of Wall Street comes to asset forfeiture
Plot twist! The Wolf of Wall Street, a movie about corruption on Wall Street, might have been funded by corrupt money. Suddenly, this is starting to sound more like Inception.
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Volkswagen channeled Lance Armstrong
How does Volkswagen’s conduct around its emission-testing scandal mirror the actions of Lance Armstrong? For one thing, both were involved in the largest scandals in their respective spheres: Armstrong in cycling, and Volkswagen in car manufacturing. Yet, the similarities go even further. Tom Fox reports.
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The new FCPA enforcement circle is now complete
A trio of recent Foreign Corrupt Practices Act enforcement actions shows just how much companies can spare themselves undue pain if they self-report violations early and without holding back. Tom Fox has more.
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The chairman’s flight
The Justice Department has reached a plea agreement with David Sampson, the former chairman of the Port Authority of New York and New Jersey, who pressured executives of United Airlines to reopen a money-losing route, which flew near Sampson’s weekend home in South Carolina. In the world of the FCPA, ...
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It is good to have friends at the top
It’s good to know someone at the top—that well-known maxim was demonstrated yet again recently when it was revealed that U.K. Chancellor of the Exchequer George Osborne intervened with the U.S. government during the investigation of money laundering violations by the U.K. bank HSBC. Tom Fox reports.
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Does compliance need a seat at VW’s table?
VW’s response to its defrauded customers in Europe is worse, than laughable. It's indefensible. Where is the company's compliance function? Tom Fox explores.
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DoJ to everybody on FCPA prosecutions: We can make this all go away, you know
Just how serious is the Justice Dept. about making life easier if you comply fully with its FCPA violation investigations? Johnson Controls Inc. was caught dead to rights on egregious fraud—but, by cooperating with the DoJ, it managed to secure a declination to prosecute. Tom Fox reports.