Compliance Bits and Pieces for January 8

Here are some interesting stories from the past week: BAE Bribe Suit Tossed On Appeal from The FCPA Blog The decision is a big win for BAE (and all U.K. companies threatened with shareholder litigation in the U.S.). But it’s another setback for plaintiffs who bring claims based on allegations that, if true, would violate […]

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usha rodrigues

Public Companies Fail to Disclose Ethics Waivers

According to Usha Rodrigues from University of Georgia Law School and Mike Stegemoller from Texas Tech University – Rawls College of Business, in their paper Placebo Ethics, public companies are failing to disclose ethics waivers. They focused on Section 406 of Sarbanes-Oxley which requires public companies to disclose when they have granted an ethics waiver […]

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From Gibson, Dunn & Crutcher LLP

2009 Year-End FCPA Update

In case you missed it, 2009 was full of FCPA enforcement actions and trials. The Department of Justice and Securities and Exchange Commission worked hand in hand over the past year bringing actions for FCPA violations. They set a record by bringing more FCPA prosecutions during 2009 than in any prior year in the FCPA’s […]

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New Massachusetts Lobbying Law is now in Effect

In mid-2009, the Massachusetts Legislature was rocked by the highly public federal indictments of a state senator and speaker of the Massachusetts House. In response, the legislature passed a sweeping overhaul of its campaign finance, lobbying and government ethics laws. There are new rules in the Commonwealth that went effective on January 1. (Massachusetts is […]

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Custody of Funds or Securities of Clients by Investment Advisers

The SEC released the final version of its new custody rule (.pdf). The Commissioners had announced their approval of the rule on December 17 and then released the final text on December 30. The rule goes into effect 60 days after publication in the Federal Register. The amendments are designed to provide additional safeguards under […]

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watching giants

Whales and Compliance

I was surprised to be thinking about compliance while I was reading about whales. Sure, I eat, drink and sleep compliance. But there are some lessons that compliance professionals can learn from the study of whales. This came up while I was reading Watching Giants: The Secret Lives of Whales by Elin Kelsey. My original […]

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Darth Vader and the New York Stock Exchange

Is this going to improve the image of the stock market? Darth Vader ringing the opening bell at the NYSE?! Lucasfilm Ltd. Brings the Force to the New York Stock Exchange This Holiday Season – press release After more than 30 years, Star Wars maintains its position as the #1 selling licensed toy property in […]

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Out With the Old, In With the New

New Year’s Eve is generally a time to reflect on the past and look forward to the future. For many it also involves an excessive amount of alcohol, an expensive dinner in a crowded restaurant, or a long wait for Chinese food delivery. I’m sure there is a compliance story in there somewhere. But I’m […]

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Six Mistakes Executives Make in Risk Management

Nassim N. Taleb, Daniel G. Goldstein, and Mark W. Spitznagel discuss risk management and short comings in approaches in the October 2009 issue of the Harvard Business Review (subscription required). They offer up six mistakes in the way we think about risk: 1.  We think we can manage risk by predicting extreme events. 2.  We […]

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Perception, Dilbert and a Magical Management Necklace

Are your assumptions correct? You get a new tool to help manage your processes and everything starts working better. Is everything actually working better? Or is the data just being manipulated to look better? As is often the case, the pointy-haired boss can show us the problem. Often the compliance officer is like the pointy-haired […]

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