FinCEN Proposes Regulatory Simplification

In a news release, the Financial Crimes Enforcement Network (FinCEN) announced the publication of a proposal to simplify its rules and regulations by centralizing them in its own new chapter of the Code of Federal Regulations. The current organizational structure of FinCEN regulations developed over many years, during which Congress expanded FinCEN’s authority . As

Certification Mark for EU Safe Harbor Framework

The Commerce Department’s International Trade Administration (ITA) has developed a certification mark for the U.S.-European Union Safe Harbor Framework. The mark may be used by companies on their websites to signify that they have self-certified compliance with the provisions of the Safe Harbor Framework. To display the certification mark, you must follow the Safe Harbor

FTC Will Grant Six-Month Delay of Enforcement of ‘Red Flags’ Rule

The FTC announced that they will suspend enforcement of the new “Red Flags Rule” until May 1, 2009, to give creditors and financial institutions additional time in which to develop and implement written identity theft prevention programs. The Identity Theft Rules are found at 16 C.F.R. Part 681.2. The FTC published a FTC Business Alert

PCAOB Standard No. 5

The Public Company Accounting Oversight Board released Auditing Standard No. 5 – An Audit of Internal Control Over Financial Reporting that is Integrated with an Audit of Financial Statement (.pdf) on June 12, 2007. The standard was approved by the SEC on July 25, 2007 and became effective for audits of fiscal years ending on

SEC Prosecutions under the Foreign Corrupt Practices Act

According to Linda Chatman Thomsen, director of the SEC’s Division of Enforcement, in a Forbes Article [The SEC in 2008: A Very Good Year?], the SEC filed 15 FCPA cases in 2008. Since January 2006, the SEC has brought 38 FCPA enforcement actions. That number is more than were brought in all prior years combined

Thinking About Training

Jeffrey M. Kaplan and Rebecca Walker, partners in the law firm of Kaplan & Walker LLP wrote an article Thinking About Training in the March/April 2008 edition of Ethikos. The goals of training—to enhance employees’ understanding of the law and company policy and promote ethical business conduct—will not be achieved if training is not comprehensible

Email Etiquette and Compliance

Lots of hallway conversations have turned into email and instant messaging conversations. There are lots of problems with that. First, is just the lack of human interaction. Humans are social and need to meet face-to-face. Along with that is the limited ability to add tone, sarcasm and other elements of conversation into the written word.

Compliance and Ethics Training – How Much is Enough

In this podcast panel discussion, OCEG’s Carole Switzer moderates a discussion with ELT’s Shanti Atkins and SAI Global’s Mark Rowe to answer the question of how much is enough when it comes to compliance and ethics training. You can listen to a webcast and read a transcript (.pdf). Ms. Atkins talks about a three layers

International Standards for the Bribery of Public Officials

The Foreign Corrupt Practices Act is the U.S. standard for bribery of public officials by U.S. concerns or international concerns with a presence in the U.S. The international standard is the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions promulgated by the Organization for Economic Co-Operation and Development. The convention sets